Top 3 ways to use computer vision in real estate

Tuesday, January 22, 2019

We live in a world of fast-paced technological changes, and the adoption of computer vision is no longer an option. According to Tractica, the computer vision market is expected to reach 26.2 billion US dollars by 2025, and the real estate sector is not an exception. Nowadays, real estate cannot really function without computer vision technology, but the technology is also being used for algorithms that identify, categorize, correlate real estate specific features that present consumers with results that meet their requirements and expectation. But how beneficial AI-based computer vision technology for real estate sector? Let’s delve into details below!

 

What are the benefits of computer vision for real estate business?

 

Below you can read about the most popular benefits:

 

  • users can search the properties with a voice-enabled command;

  • prospects can search property listings that meet their requirements via mobile devices;

  • technology increases the number of pictures real estate platforms can support;

  • property platforms rank higher.

 

How to use computer vision technology in real estate

 

Voice-based search. By March 2016, 55% of teens and 41% of adults already used voice search. That’s why instead of typing something like, “New York, three-bedroom apartment,” prospects are saying something like, “I need a three-bedroom apartment with Central Park view in New York.” And they expect that platforms will reply them verbally. With AI-based computer vision technology, that becomes a reality by utilizing natural language descriptions of what is in images.

 

Improve search engine results with image metadata. With AI-powered computer vision technology, you can avoid writing all those tags and comprehensive image descriptions. It utilizes real estate-specific descriptions only on the features and objects in images that matter to customers and property agents alike. The more accurate and in-depth descriptions are, the higher search engines promote property platforms.

 

Deliver a rich collection of online properties. When looking for the properties that meet the requirements, users do not want to spend a lot of time anymore. They expect that platforms can provide them with billions of images ready at hand. That’s why businesses should focus on computer vision solutions that tag and log in-depth description of thousands of images available in a second.

 

Bottom line

 

With thousands of properties, standing out from the crowd has become harder for real estate businesses. Increasingly sophisticated customers anticipate more details about properties than ever before. That’s why businesses should focus on new technologies that promise an immersive, unprecedented and seamless buying experience. We, at Provision Lab, can create and deliver digital solutions with computer vision technology. Let us know if you have any ideas and want them become a reality.