In recent years, artificial intelligence (AI) and data analytics have started transforming the way Australians buy property. From helping developers and agents better understand buyer behaviour to optimising off-the-plan sales strategies, this technology is playing a crucial role in the property market.
In this episode of Property Now, we hear from Mark Bernberg of Ray White Projects and Mat Djolic from HTag. They explain how AI is helping developers and agents identify trends, predict suburb growth, and improve how properties are marketed to buyers.
How AI is Transforming the Property Market
AI is no longer just a buzzword. It's a game-changer for how the property market functions. For years, developers and real estate agents relied on gut feelings and subjective feedback from potential buyers. However, with the rise of AI and data-driven tools, this approach is shifting toward a more data-centric model.
The Role of Data in Understanding Buyer Behaviour
Previously, when developers launched a new property project, they often relied on subjective feedback to gauge buyer interest. An agent might say, "This area is popular, so we’ll release more stock here." However, this approach didn’t always match the actual behaviour of buyers. AI now allows developers to capture real-time data points from buyers and analyse trends that were once hard to identify.
With tools like Primax, developed by Mark Bernberg and his team, developers can track buyer intent more accurately. Instead of relying on gut feelings, AI provides quantifiable data that shows exactly where buyers are showing interest. This allows developers to make smarter decisions about where to release properties and at what price.
Understanding Buyer Intent with AI
One of the key insights shared in the podcast is how AI helps developers predict buyer intent. The challenge in property marketing is distinguishing between interest and intent.
- Interest refers to a potential buyer browsing properties online, but not necessarily ready to purchase.
- Intent refers to a buyer who is actively considering making a purchase.
For example, Mark compares the difference between interest and intent to Ferraris. If someone loves Ferraris but doesn’t have the intent to buy one, that’s simply interest. But when it comes to property, developers now have tools that track not just interest, but intent. This is vital for off-the-plan purchases, where buyer intent is often hard to gauge.
How AI Helps Developers Set the Right Price
AI tools are now being used to adjust pricing strategies based on real-time buyer interest. Using platforms like Primax, developers can see a heatmap of buyer interest across different property types. They can then use this data to decide which units to release first, what prices to set, and how to optimise sales velocity.
For example, if certain properties are seeing a lot of interest, developers might decide to release them at a slightly higher price to take advantage of strong demand. Conversely, units that aren’t attracting as much interest can be held back or priced more competitively.
This data-driven approach helps developers balance sales velocity and pricing. It also means they can optimise the off-the-plan sales strategy, ensuring they don’t leave money on the table or push too high a price that stalls sales.
How Buyers Can Benefit from AI Insights
For buyers, AI offers a unique opportunity to make smarter property decisions. With data on buyer trends, suburb growth predictions, and price optimisations, buyers are better equipped to make informed choices about their future homes or investments.
Tips for Buyers Using AI Insights
- Look for Data-Driven Developments: Developers using AI tools to optimise pricing and release stock are likely to offer more value to buyers.
- Research Buyer Trends: If you're a first-home buyer or investor, use AI tools to learn which suburbs are seeing growth and which properties are in high demand.
- Timing is Everything: Data-driven pricing strategies mean that the earlier you act, the better the deal you may get. Keep an eye on the market and move quickly when the right opportunity arises.
Coposit: Helping Buyers with Data-Driven Payment Solutions
At Coposit, we understand that buying property is a significant investment. That’s why we offer flexible, data-driven payment options to help buyers manage their off-the-plan purchases more easily.
By partnering with trusted developers who use AI to optimise pricing and sales strategies, Coposit ensures that buyers can access the best properties at competitive prices, while also giving them control over their payment plans.
Whether you're a first-home buyer, an investor, or just curious about property trends, Coposit helps simplify the buying process with structured weekly payments. By integrating real-time data into the buying process, Coposit makes it easier to manage your investment and plan for the future.
The Future of AI in Property Buying
As AI and data analytics continue to evolve, they will play an even bigger role in shaping the Australian property market. Developers will continue to adopt these technologies to improve how they market and sell properties. Buyers, in turn, will have more tools at their disposal to make confident, informed decisions about where and when to invest.
For buyers, this means more transparency and better access to information, helping you choose the right property and secure the best deal.
Data-Driven Insights: The Future of Property Buying
AI is no longer just a tool for developers. It’s a game-changer for property buyers as well. By understanding buyer behaviour, tracking suburb growth, and using real-time data to optimise sales, AI is transforming how properties are bought and sold. With Coposit, buyers can leverage this data to make smarter, more confident decisions in the property market.
Whether you’re buying your first home, investing in property, or just exploring the market, AI-driven insights are giving you the power to make better choices and secure the best deals.
