An MLS Is Using AI to Populate Fields Automatically

May 1, 2019

MLSs are starting to explore how artificial intelligence could offer some time-saving tools to real estate professionals. For example, Midwest Real Estate Data, a Chicagoland MLS, announced this week that it will add artificial intelligence features to help agents more quickly populate fields in its multiple listing service.

MRED has partnered with Restb.ai, an artificial intelligence company specializing in real estate, that will allow many listing details to be instantly populated once a property’s photos are uploaded. Restb.ai’s computer vision algorithms can recognize features of the property and automatically pull information from photos and enter the data directly into the appropriate fields.

For instance, Restb.ai’s technology can detect and report room types, such as kitchens, bathrooms, and offices, as well as features such as the presence of natural light, hardwood floors, stainless steel appliances, and kitchen islands.

“We brought in this technology because it will save time and reduce hassle, which is exactly what artificial intelligence should do,” says MRED Chief Technology Officer Chris Haran. “We’re only scratching the surface of AI’s capacity to improve the MLS experience and we’re aggressively pursuing more enhancements like this that make life easier for real estate professionals.”

MRED has 45,000 brokers and appraisers who use its MLS. Restb.ai and MRED will be testing out some features in May and June, and the automatic listing field population feature is slated to be released later this year.

Source: 
REALTOR® Magazine Daily News