REA Group Partners with OpenAI for Improved Property Valuations Experience

Realestate.com.au has introduced realAssist, an AI-powered conversational companion designed to help homeowners interpret their realEstimate property valuation and receive guidance on next steps in their property journey.

The new assistant, powered by OpenAI, is one of eight AI-first features on realestate.com.au, in line with growing consumer expectations around AI-enabled services.

The tool is available to logged-in members who track a property on the platform. RealAssist allows homeowners who track their property to ask questions about their RealEstimate property valuation—including why it changed.

Chief Product and Audience Officer Jonathan Swift said:

"We have been testing and learning about natural language search for some time so that we can be really intentional in how we roll it out and make sure it actually solves pain points for property seekers. AI search is about giving property seekers more flexibility, choice and making it easier than ever before to search for property. We see this feature as a partner, not a replacement, for search filters.

"Buying a property is one of the biggest financial decisions many people will make and we know that they still want control over that search process. Realestate.com.au’s unparalleled audience, coupled with our proprietary data, places us in a strong position to harness AI and deliver unique and valuable insights and experiences for consumers and customers. We will continue to iterate the features we are currently deploying by adding capability, improving the user experience and developing next generation property search and match."

REA Group joins Zillow in launching a partnership with OpenAI, after the American portal giant was included on a list of big-name companies to benefit from a ChatGPT plugin for homesearch.

The launch of realAssist comes as realestate.com.au expands its natural language AI search feature to all property seekers, following a successful 12-month pilot.

Swift commented that, "AI search is about giving property seekers more flexibility, choice and making it easier than ever before to search for property. We see this feature as a partner, not a replacement, for search filters."