Will AI Replace Property Agents?

AI in Real Estate: Efficiency Gains and Market Disruption

Mogul.sg's AI agent, Maia, was launched on February 5, 2025, as Singapore's first AI-driven property assistant, aiming to replace traditional buyer agents. With a database of over 100,000 property listings, Maia consolidates information from major platforms like 99.co and PropertyGuru, enabling buyers to access a centralized property search tool.

This AI solution operates through natural language processing (NLP) algorithms that allow users to interact conversationally, specifying location, budget, property type, and preferences such as nearby schools or MRT stations. The AI then filters and suggests tailored listings within seconds—a significant improvement over traditional methods, where buyers manually browse multiple websites and rely on agents to curate options.

Beyond search capabilities, Maia also automates property viewing appointments. Once a user expresses interest, Maia contacts seller agents via WhatsApp to arrange visits. This automation reduces the inefficiencies of human coordination, eliminating the delays that often come with scheduling property tours.

Disrupting the Traditional Commission Structure

One of the most disruptive aspects of Maia is its impact on real estate commissions. In Singapore, property transactions typically involve:

- Seller’s agent: Receives a 2% commission from the seller upon a successful transaction.
- Buyer’s agent: Earns a 1% co-broking commission, which is split between agents when a deal involves multiple brokers.

Maia challenges this system by offering buyer-agent services at a 0.2% commission, a dramatic 80% reduction compared to traditional rates. For example, on a S$1.5 million condo, a traditional buyer’s agent would earn S$15,000, whereas Maia’s AI model would charge just S$3,000—a cost-saving measure that could push traditional agents to either lower their fees or differentiate their services with personalized offerings.

AI-Driven Transactions in Singapore’s Real Estate Market

Singapore’s real estate industry is already undergoing rapid digitalization, with AI adoption expanding beyond property search tools. Companies like GuocoLand have integrated AI-driven analytics for predictive market trends, while government agencies such as the Urban Redevelopment Authority (URA) utilize AI for land-use planning and housing demand forecasting.

A 2023 report by the Infocomm Media Development Authority (IMDA) highlighted that AI-driven solutions in Singapore’s property sector could reduce transaction time by 30%, cutting inefficiencies in legal paperwork, valuation, and contract negotiation.

Job Displacement Concerns: Will AI Replace Real Estate Agents?
The Global Trend of AI Replacing Jobs

Singapore is not alone in witnessing AI's impact on job markets. A 2024 Goldman Sachs study estimated that 300 million jobs globally could be affected by AI automation, particularly in industries like finance, law, and real estate.

A separate PwC report suggested that by 2030, nearly 20% of jobs in Singapore could be significantly transformed by AI. The property sector, which relies on standardized processes like listing searches, appointment scheduling, and documentation, is among those at higher risk.

Will AI Completely Replace Property Agents?

Despite AI’s efficiency, full replacement of human agents remains unlikely—at least in the near future. AI lacks the emotional intelligence, negotiation skills, and relationship-building that human agents provide.

- Complex Transactions: High-net-worth buyers, investors, and corporate clients often require customized advisory services, which AI cannot fully replace.
- Emotional Buying Decisions: Home purchases are often driven by personal circumstances and emotions, requiring a human touch to guide buyers through uncertainty.
- Legal and Contractual Nuances: While AI can generate contracts, real estate transactions involve legal complexities where human expertise is still essential.

A Hybrid Model: AI as a Tool, Not a Replacement

The most likely scenario is AI complementing human agents rather than replacing them entirely. Agents who leverage AI tools like Maia for data analytics, automated scheduling, and price comparisons can offer a more efficient and data-driven service while still providing the human expertise needed for negotiation and legal navigation.

A 2024 survey by the Singapore Real Estate Association found that:
- 67% of buyers still preferred human interaction when making high-value real estate decisions.
- 73% of real estate professionals believed AI would enhance rather than replace their roles.

Final Thoughts: AI is Reshaping, Not Eliminating, Real Estate Careers

Mogul.sg’s Maia is a game-changer, offering significant cost savings and efficiency for buyers while disrupting traditional commission-based agent roles. However, rather than a complete replacement of human agents, the future of real estate lies in AI-human collaboration.

Agents who embrace AI can increase efficiency, reduce administrative burdens, and focus on higher-value tasks like personalized consulting, negotiation, and relationship management. The industry will see a shift where AI handles data-driven tasks, while human agents provide the personalized expertise and strategic advice that buyers and sellers still demand.

​In conclusion, AI like Maia is not an existential threat to real estate jobs but rather a catalyst for industry evolution. Real estate professionals who adapt and integrate AI into their workflow will thrive, while those who resist may struggle in an increasingly digitalized market.