As artificial Intelligence looks to infiltrate every industry under the sun, it makes perfect sense to adopt it in the real estate sector as well. The industry is evolving to accommodate a data-focused approach to real estate solutions. Technologies offered by AI and ML help enable real estate professionals to streamline their efforts through automation and predictors. This helps home buyers and renters reap benefits as well. Encouraging widespread adoption of these technologies will have a substantial impact on moving the industry forward.
NATURAL LANGUAGE PROCESSING - Named Entity Recognition
Contract Content Analysis
Contract Negotiation and Contractual Interpretation are some of the more important parts in establishing a real estate deal. Implementing AI software can help real estate professionals review contracts more rapidly and organize and locate large amounts of contract data by extracting key entities like termination dates, agreed on payments, legislation references, contracting parties etc.
COMPUTER VISION - Image Classification
Insights from Property Listing Images
Reviewing large amounts of real estate listing images to extract attributes of the property is a tedious, manual task. Computer vision can analyze these images to automatically extract specific attributes like locality, decor, flooring type, types of rooms, and living space conditions. This assists real estate platforms to get a more automated evaluation of the property, cross-reference this data with existing information about the locality or area, and check for inconsistencies in the listing.
COMPUTER VISION - Image Verification & Quality Control
Image Quality of Property Listings
In the real estate digital space, property listing images are aplenty. Oftentimes, buyers become frustrated at the lack of good quality images, and can quickly be turned off by examining inferior ones. Blurred, skewed, poorly-lit, digitally fabricated and duplicated images convey very little or misleading information about the property to the buyers. Real Estate platforms are leveraging AI in order to audit these images, detect images of poor quality, and retain the ones that provide a better viewing experience to the buyers.
COMPUTER VISION - Image Classification
Objectionable Image Detection
In the real estate digital space, property listing images are aplenty. Oftentimes, buyers become frustrated at the lack of good quality images, and can quickly be turned off by examining inferior ones. Blurred, skewed, poorly-lit, digitally fabricated and duplicated images convey very little or misleading information about the property to the buyers. Real Estate platforms are leveraging AI in order to audit these images, detect images of poor quality, and retain the ones that provide a better viewing experience to the buyers.
COMPUTER VISION - Image Classification
Watermark Detection
Watermarks on property listing images are one way that competitors or third parties attempt to advertise on real estate platforms. Fraudulent agents may also upload images from disparate sources carrying their watermarks. It is a visual barrier, making listing photos less visually appealing and confusing buyers. AI, backed with computer vision, can be taught to comb through these images and detect watermarks much more efficiently and at a larger scale than a human reviewer. AI prevents real estate platforms from turning into a scam and spam-filled space and can prevent repeated offenders from creating new listings.
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