This 'ChatGPT For Real Estate' Tool Is A GTA Housing Market Hack & Here's How It Works

Finding a home in the Greater Toronto Area (GTA) housing market can be a real pain in the neck. The traditional process is often slow and overwhelming, with buyers struggling to find homes that fit their specific needs.

But, a new AI search tool, introduced as the "ChatGPT of real estate," could simplify the whole process for you and offer recommendations based on your preferences and search history on the real estate platform, Manorlead.

HomeSearchAI basically matches you with homes you're actually interested in, saving you a ton of time and effort.

Richard Xie, Manorlead's founder, told Narcity that the tool is receptive to a conversational approach, where users can add specific details for what they're looking for, such as whether or not their home should be in a brand-new condo building, have a pool or walkout basement.

"We're adding new ways to search every single day," he said.

"(The tool is a) natural language search, to just be able to naturally [...] describe the features you want. Like, I want a condo facing south at no more than $1.5 thousand a month in North York [...] instead of having to fill out a form or go through listings one by one."

HomeSearchAI Tool chatbot.Manorlead

The tool caters to those in the market for both buying and renting homes, and before they talk to HomeSeachAI, they need to select "Homes for Sale" versus "Home For Rent" at the top of their screens.

The tool then directs you to all public listings of homes across the GTA based on your preferences.

"We found that quite often on traditional (real estate) platforms, you would have to go to maps page and then filter and then maps and then filter. So we want to integrate AI to make (finding a home) as easy as describing your dream home to your friends or family," Xie said

HomeSearchAI is still in its beta stages and has limitations that include not being able to identify specific building names or building ratings. Although this will likely change in the near future, according to Xie.

Manorlead also offers a tool for AI-powered price predictions of homes in specific neighbourhoods, so people looking to buy a home can know what their dream home could cost in the future.

"I like to find ways to simplify tasks, and [...] I just felt like with real estate, especially searching for a home, it's still not as easy as it could be," Xie.

"And the goal was to make it easier."

This interview has been condensed and edited for clarity.

This article's right-hand cover image was used for illustrative purposes only.