Key Takeaways:
– The Saskatchewan Realtors Association (SRA) is partnering with Restb.ai, a computer vision software firm, to roll out a major artificial intelligence initiative.
– SRA’s 1,700 members will benefit from Restb.ai’s ability to extract actionable data about properties from still images.
– The software will be used for listing onboarding, automating image captioning and alt-text, and ensuring image compliance standards.
– Restb.ai has already been implemented in multiple American multiple listing services and proptech companies.
– The partnership is due in part to the proptech momentum emerging from the Saskatchewan market, which is one of the fastest-growing in Canada.
– Restb.ai’s presence in the industry has been expanding rapidly, and it has secured deals with entities like Black Knight and Bridge MLS.
– The software also includes alt-text/metadata functionality for accessibility efforts, particularly for the vision-impaired.
– This partnership marks Restb.ai’s initial enterprise foray into Canada.
– Other Canadian Realtor Associations may be inspired to follow SRA’s lead in integrating AI technology in the real estate industry.
inman:
The Saskatchewan Realtors Association’s (SRA) 1,700 members will benefit from the innovative technology company’s ability to extract and use in multiple ways actionable data about properties from still images.
No one can predict the future, but you can prepare. Find out what to prepare for and pick up the tools you’ll need at the immersive Virtual Inman Connect on Nov. 1-2, 2023. And don’t miss Inman Connect New York on Jan. 23-25, 2024, where AI, capital, and more will be center stage. Bet big on the roaring future, and join us at Connect
The first Realtor association in the country of Canada to roll-out a major artificial intelligence initiative is in Saskatchewan, Inman has learned. And they’re doing it in partnership with Barcelona-based computer vision software firm, Restb.ai.
The Saskatchewan Realtors Association’s (SRA) 1,700 members will benefit from the innovative technology company’s ability to extract and use in multiple ways actionable data about properties from still images. Restb.ai is already in place within a number of American multiple listing services and proptech companies.
The primary use to start will be in listing onboarding, allowing users to drastically shrink the time required to input properties for sale or lease by overlapping image information with existing data fields. It can identify finishes, appliances, room category, exterior characteristics and a number of other aspects that sellers want to highlight and buyers covet. Restb.ai will also automate image captioning and alt-text/metadata.
The software also ensures image compliance standards and helps agents more quickly create property descriptions. CoreLogic’s Matrix software powers SRA’s system, and the computer vision-derived pages, once approved, will also be published into the public search space.
Chris Guérette, CEO of SRA, said the partnership is due in part to the proptech momentum emerging from the Saskatchewan market. “It’s one of the fastest growing in Canada,” he said in the release.
“Our real estate community in Saskatchewan provides an ideal landscape to innovate and push boundaries. The magic of AI isn’t just in its potential but in its tangible impact to real estate in Canada. We aren’t just peering into the future; we’re actively molding it with dedication and excellence.“
Restb.ai, a 2023 Inman Innovator Award winner, has made its presence felt in the industry since 2017, but it’s expanding especially quickly in the last 18 months as other forms of AI, such as large language models, helped break down the business world’s hesitancy to adopt such new technologies. The company has locked in deals with entities like Black Knight and Bridge MLS, among others.
The company also launched a valuation suite geared at modernizing the appraisal process and assisting in compliance with new Fannie Mae and Freddie Mac programs that make it easier to get loans approved without an appraisal.
Alt-text/metadata functionality, which SRA will leverage, identifies image content for readers to be used in accessibility efforts, especially for the vision-impaired. Up to 1.5 million Canadians identify themselves as having sight loss, according to the release.
This is Restb.ai’s initial enterprise foray into Canada.
“I commend Saskatchewan Realtor Association Leadership for their innovative and strategic move to integrate AI technology, setting a new benchmark for real estate across Canada,” Lisa Larson said in a statement, Restb.ai’s Managing Director of North America. “Saskatchewan Realtors are not just expanding their presence, they are redefining the landscape of real estate in Canada. This bold move is paving the way for a transformative era in real estate, and I am confident that other Canadian Realtor Associations will be inspired to follow in their footsteps.“
Source link
Property Chomp's Take:
The Saskatchewan Realtors Association (SRA) is set to become the first Canadian realtor association to implement a major artificial intelligence (AI) initiative. In partnership with Barcelona-based computer vision software firm, Restb.ai, the SRA's 1,700 members will benefit from the innovative technology company's ability to extract and utilize actionable data about properties from still images.
Restb.ai's technology has already been integrated into several American multiple listing services and proptech companies. The primary use of this technology in Saskatchewan will be in listing onboarding, allowing users to significantly reduce the time required to input properties for sale or lease. By overlapping image information with existing data fields, Restb.ai can identify finishes, appliances, room category, exterior characteristics, and other aspects that sellers want to highlight and buyers covet. Additionally, Restb.ai will automate image captioning and alt-text/metadata, ensuring image compliance standards and helping agents create property descriptions more quickly.
The SRA's system is powered by CoreLogic's Matrix software, and the computer vision-derived pages will be published into the public search space once approved. This integration will enhance the user experience and streamline the listing process. The CEO of SRA, Chris Guérette, stated that the partnership with Restb.ai is a result of the proptech momentum emerging from the Saskatchewan market, which is one of the fastest-growing in Canada.
Restb.ai, a recipient of the 2023 Inman Innovator Award, has been making waves in the industry since 2017. The company has secured deals with prominent entities like Black Knight and Bridge MLS. Restb.ai has also launched a valuation suite aimed at modernizing the appraisal process and assisting compliance with new Fannie Mae and Freddie Mac programs.
One noteworthy feature of Restb.ai's technology is its alt-text/metadata functionality, which will be leveraged by the SRA. This feature identifies image content for readers and aids in accessibility efforts, particularly for the vision-impaired. With up to 1.5 million Canadians identifying themselves as having sight loss, this functionality will greatly enhance inclusivity in the real estate industry.
Restb.ai's partnership with the SRA marks its debut in the Canadian market. Lisa Larson, Restb.ai's Managing Director of North America, commended the SRA's leadership for their innovative and strategic move to integrate AI technology. Larson believes that this milestone will inspire other Canadian Realtor Associations to follow suit, ultimately redefining the real estate landscape in Canada.
Overall, the integration of Restb.ai's technology into the SRA's operations will revolutionize the listing process, improve efficiency, and enhance the accessibility of property information. This partnership sets a new benchmark for real estate across Canada and highlights the transformative potential of AI in the industry.
