Restb.ai, a US- and Barcelona-based company is bringing photo intelligence and computer vision capabilities to the Toronto Regional Real Estate Board (TRREB). Picture a world where, as a real estate agent creating a listing, you can have an AI analyze each photo you upload and instantly pre-populate the majority of the listing form based on what it sees in the photos. That’s what experts at Restb.ai are working on as part of their efforts to bring AI tools to real estate boards across the globe.
Among other things, computer vision can also be leveraged to verify photo compliance (for example, automatically identifying images and videos that breach MLS guidelines) and as a result, enhancing the property search experience for prospective homebuyers. This enables them to swiftly sort through available properties, filtering them based on particular visual criteria. More data also means more accurate property valuations. Nathan Brannen, Chief Product Officer for Restb.ai, says that “Traditionally, a large blind spot for Automated Valuation Models has been understanding the condition and quality of a property — has a property had renovations, or have higher quality materials? With computer vision, every property can be analyzed according to a standardized metric which can help allow properties to be more appropriately compared to one another.”
We all know that AI is at its best when it’s being used to increase efficiency and reduce the time people spend on menial tasks, allowing them to be more productive and do their most important work. Companies like Restb.ai are bringing new and novel AI use cases to the real estate space to do just that, and this is just the beginning.