Realtors are still preferrable to ChatGPT! During this high-rate, high-price housing market, Americans are seeking as much information as they can find to navigate the challenges of homebuying and selling today. A survey from Realtor.com found that 82 percent of Americans are now using AI tools to gain market insights, but that doesn’t necessarily mean they’re forgoing the use of a real estate agent.
Of those individuals who are using AI in real estate contexts, most are opting for ChatGPT (67 percent of respondents) and Gemini (54 percent), and specified that they like how using these tools can personalize their search.
Many survey respondents also said that social media is one of their main sources for real estate content, with the majority heading to YouTube (73 percent) and Facebook (57 percent) for housing content. The youngest homebuying generation — Gen Z — most often looks to TikTok for housing content, with 76 percent of Gen Z respondents saying it’s their preferred social media platform for this purpose.
When it comes to becoming “smarter” about the housing market, no other source can best the advice of a real estate agent. Survey respondents said they rely most on real estate agents (62 percent of respondents) to become “smarter” about the market, and then turn to AI (61 percent), and other sources like traditional media and social media.
Survey respondents also considered real estate agents the most accurate source of information — before AI, family and friends and the news — and about 66 percent found agents to be a good use of time, more so than other information sources. By contrast, many buyers and sellers thought market information from their family and friends, social media, and television shows were not applicable to their chosen housing market.
TV and streaming programs were determined to be the least usable source of information by survey respondents, with 40 percent saying they found the information was not applicable to their market. They also thought it depicted an “unlikely” homebuying and selling experience.
Social media was also viewed as not applicable to 30 percent of respondents, and 30.5 percent said it depicted an inaccurate view of the market. Meanwhile, one-quarter of respondents said family, friends and neighbors also offered market information that was not applicable to them.
So, while Americans are seeking information about the market from all sources, many continue to view real estate agents as the most reliable source, which should give agents some confidence during these uncertain times.
SUMMARY JUST FOR YOU!
- A Realtor.com survey reveals 82 percent of Americans use AI tools, primarily ChatGPT (67 percent) and Gemini (54 percent), to gain insights into the housing market amid high rates and prices.
- Despite increased AI use, 62 percent of respondents still rely on real estate agents as the most trusted source for accurate market information and advice.
- Social media platforms like YouTube (73 percent) and Facebook (57 percent) remain popular for real estate content; Gen Z favors TikTok (76 percent) for housing information.
- Respondents found TV programs, social media, and even friends and family often provide inaccurate or inapplicable market information, reinforcing the value of agents during uncertain times.