Say all you want about technology, but we are very excited about this new exclusive tool rolling out for home buyers! The Toronto Regional Real Estate Board will be using an AI component on the Toronto MLS website to let you search through tens of thousands of photos for “similar spaces” or specific room descriptions you are looking for. For example, this is great if you are set on only looking for a home with a backyard pool or an outdoor kitchen.
In short — It helps you save time when it comes to searching through all these listings that don’t include the specific qualifications you are looking for.
Why is this important?
A picture says a thousand words. Having good quality photos of your listing is fundamental in real estate to market your home to the right potential buyer while revealing unique insights about your property. When you look at a photo and soak up all the information, your mind automatically develops a thought or opinion about the property. “This looks like a shoebox,” or “I love the layout of this home” or, “This house looks like it’s got a unique sense of character to it… I want to schedule a viewing!”
It can be extremely time-consuming to do this with every home, but with this new tool, you have all of those insights formatted to view that information swiftly. It will reduce your time significantly when you’re only looking at homes that have the specific qualities you want.
When uploading images to the new Toronto MLS site, they say
“Our suite of computer vision and AI solutions helps you understand the content of your property images and translate it into actionable insights to enable you to improve valuation accuracy, automate time-consuming manual processes, and enhance the way people interact with properties.”
So, what will these new tools allow you to do?
- You can classify photos from room type, identify interior or exterior home features, and understand architectural styles.
- You can analyze a property’s condition based on its imagery.
- Use AI to find similar listings on the market, which is good when comparing and contrasting listings.
- Auto-populate your listing images alt-tag to boost your search engine optimization.
- Automatically flag photos or listings that don’t comply with Real Estate Board posting guidelines.
- Instantly and automatically create unique and captivating listing descriptions for your property.
- Will check for watermarked images, reducing the chance of spam.
- Will check to see if your listing has been duplicated again on the website
How does it help buyers and sellers?
For sellers, this new tool will attract the best potential home buyers that are very interested in your property. It reduces time spent on open houses, and hopefully, you can put more time and energy into legit offers while avoiding the tire kickers. It makes properties found via search more visually attractive in the eye of potential leads while also increasing site traffic. It might even add a personalized marketing component to your listing.
For buyers, it helps auto-populate listings, enhances agent and client collaboration, and automates compliance.
For investors, looking to flip a home, it helps enhance valuations, optimizes comparables, and instantly filters properties that fit your wishlist.
For appraisals and home insurance inspections, it helps improve data collection, intelligently generate reports, and strengthens quality control.
What does this mean to you?
In summary, this tool will be helpful for all of us, and we are excited to see how it plays out to help advertise your home or help you find the best property to buy for your family. At Shirriff Wells Real Estate, we are always looking for new advancements in the real estate industry to enhance your house hunt or selling journey. As experts in Toronto and the GTA, we can help you sell or buy your dream home with confidence. To get started, give us a call today at 416-495-2746 or send us a message to book a meeting. You deserve that “Shirriff Wells Feeling” and we’re here to deliver it.