AI comparable analysis in property: why we still do it manually

A growing number of buyers agents are marketing the same thing right now. Faster, AI generated comparable analysis, marketed as a point of difference.

I get the appeal. It sounds more advanced than sitting down and working through sales one by one. AI does have a real place. At TNG we use it to speed up research, integrate our backend workflows, produce dashboards.

Working out what a property is actually worth before someone buys it is different. I'm not willing to hand that to an algorithm. It comes down to a process that only sees what's in the data set, not what drives value or where it actually sits in that market.

A sales record gives you an address, a date, a price. It won't tell you the kitchen in one place was renovated and the other wasn't. It won't tell you about the odd floor plan. It won't tell you a seller was under pressure and settled for less than the market would otherwise have paid. Two houses on the same street can sell for very different prices, and most tools working off sales data alone aren't set up to tell you which one is actually the fair comparable.

If you've purchased with us before, you'll recognise what comes next. We match brick against brick, three bed two bath against three bed two bath, on configuration and land size, not just what's nearby. We rate each one, work through the recent sales, and narrow it down to the three to five properties that best show market value, split into superior, similar, and inferior against the subject property, so you can see exactly where it sits and why.

What doesn't make the cut matters just as much. A four bedroom version, a different bathroom or car count, a different build type entirely, we'll still look at what they're doing in the same area. They just don't go in the report. They aren't direct comparables, no matter how close they sit on a map.

That takes longer than a tool spitting out a number in a few seconds. What it buys back is judgement on the details a spreadsheet won't surface.

This isn't about whether other agents do good work. Plenty do. It's a genuine question about a task that's inherently manual, comparing one property against another, weighing up detail that doesn't show up in a spreadsheet, and asking whether that's something worth handing to an algorithm.

It also comes down to why the detail matters. It's the reason a good share of our clients come back for a second or third purchase. That level of scrutiny is what surfaces a better starting yield, or stops a client paying for a feature that doesn't actually add value in that particular market. It's slower. It's also the difference between a number that's roughly right and one you can stand behind when you're the one signing the contract.

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Disclaimer: The information in this article is general in nature and does not take into account your personal objectives, financial situation, or needs. It is not financial, legal, or tax advice. The Nelis Group accepts no liability for actions taken based on this content. You should seek independent advice from a relevant licensed professional before making any decisions and always confirm the latest rules and thresholds with your state revenue office or relevant authority.