What if we told you that relying on AI for your property research could cost you hundreds of thousands of dollars?

In this episode, we’re joined by Mike Mortlock, Managing Director of MCG Quantity Surveyors, to unpack shocking new research that proves tools like ChatGPT are getting property advice spectacularly wrong.

With nearly half of Gen Z and Millennials already using AI for financial decisions, we’re looking at a real danger sign. We discuss why AI creates "hallucinations," invents data, and completely misses the mark in fast-moving markets like Brisbane and Perth.

Here’s what we cover and why it matters:

1. The ChatGPT Stress Test: How AI failed to identify the right property asset types even when provided with expert data.
2. Data Hallucinations: Why AI "invents" new suburbs or uses outdated information that can lead to financially devastating choices.
3. The Human Element: Why a chatbot can’t replace the lived experience of professional buyer's agents or quantity surveyors.
4. Protecting Your Money: How to spot the difference between marketing fluff and actual property facts.

Don't let a chatbot gamble with your future. Listen now to learn how to keep your property journey human-led and data-secure.

Episode Highlights

00:00 — AI’s $100k Mistake: Why Chatbots Fail the Property Test

01:29 — The Alarming Truth: Why 50% of Gen Z Trust Flawed AI Advice

04:39 — Logic vs. Luck: Why AI Picks the Wrong Property Types

06:45 — Garbage In, Garbage Out: Why AI Research Is Only Half-True

08:20 — The "Poo on a Stick" Trap: Why AI Tells You What You Want to Hear

16:42 — Spotting Hallucinations: When AI Invents Fake Suburbs and Data

21:56 — Geography Lessons: Why AI Confuses SA3 Regions and LGAs

23:54 — Timing the Market: Why Outdated AI Data Misses the Boom

25:19 — Searching Smart: How to Use AI Without Risking Your Deposit

29:28 — The "A-Grade" Gap: What a Machine Can’t See During an Inspection

36:01 — Beyond the Code: The Legal and Financial Risks of Bot Advice

40:34 — The Final Verdict: How to Be a Decider, Not a Drifter

Course Details:

1. THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

1. Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourse
2. Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825

Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f