Source: Fortune
Summary
A Bank of America study found that about a third of Gen Z homebuyers used AI tools in the past 12 months for research, a trend that could represent a generational shift in how people approach major financial decisions. Gen Z is more open to using AI for homebuying research, unlike older buyers who prefer human experts. AI-fueled real estate search engines like Jitty are gaining popularity, with 3 million visitors on its website. However, humans are still essential for aspects like tours, legal advice, and closing processes.
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The numbers tell one story. Gen Z is increasingly relying on AI for homebuying research, with 30% of Jitty’s customers being Gen Z or young millennials. Graham Paterson, CEO of Jitty, notes that Gen Z is more distrusting of experts and open to AI. The trend is not limited to homebuying, with Gen Z using AI for therapy, medical advice, and financial decisions. However, humans are still necessary for aspects like closing processes, where coordination with attorneys, inspectors, and loan officers is required.
As one real estate agent notes, having a competent human agent can be the difference between getting a concession worth thousands of dollars and paying the full asking price.
Author: Evan Null
