Mortgage News April 12, 2023
Over the past few years, automation has been increasingly adopted in various aspects of the housing industry. This can be attributed to the introduction of AI-powered chat tools for agent marketing, automated lead generation, and other cutting-edge technologies. The recent unveiling of Restb.ai’s latest technology has further expanded this list, as it offers AI-based property descriptions.
According to the company’s announcement on Thursday, Restb.ai has introduced a new tool called “Property Descriptions,” which utilizes photos and essential listing details to generate AI-driven property descriptions that are ready to be used. The company aims to simplify and accelerate the process of creating property listing descriptions for real estate agents.
Restb.ai’s latest tool employs AI-driven computer vision, natural language processing (NLP), and large language models (LLM) to create distinctive, engaging, and human-like property descriptions from photos and data submitted by real estate agents when they list properties for sale on the Multiple Listing Service (MLS). The company made this statement to announce the aforementioned information.
Restb.ai’s Property Descriptions tool relies on computer vision technology to analyze photos and identify more than 300 unique features of the property, many of which may not be commonly included in a typical listing. The company claims that the AI-based tool can also integrate with various third-party APIs, which can further enhance and localize listings while also adding valuable details to the property description.
Moreover, as per Brannen’s statement, real estate agents can customize the listings generated by the tool. Property Descriptions offers agents a variety of tones and styles to craft listing remarks that align with their personal brand.
Real estate agents can also make final adjustments to the AI-generated listings before publishing them. They can even “instantly regenerate” new AI-based listings as alternative options.
According to the company, the generated listings comply with the regulations outlined in the Fair Housing Act.
At present, Property Descriptions is available to MLSs, MLS vendors, brokerages, and portals in the United States and Canada. It is accessible through the company’s existing partnerships, which support the agents and brokers responsible for creating more than 80% of all property listings in North America. The tool can be accessed as part of the listing creation process.
As per the company, the AI-based solution currently supports over 50 languages and can reduce both direct and opportunity costs by 90%.
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