IRVINE,
Calif., May 14, 2024 /PRNewswire/ -- Most
homeowners understand that updating and renovating their home could
help them earn more money at its sale, but because "seeing is
believing," they might be hesitant to commit to such a big project.
Now real estate agents can leverage AI to show home sellers how a
pre-sale renovation could help their home command its highest sales
price. The newest AI enhancement comes from pre-sale renovation
leader Revive, which today announced their new Neighborhood Report.
This "groundbreaking feature takes CMA data analysis to the next
level and is now part of Revive Vision AI."
According to Dalip Jaggi,
co-founder of Revive, Neighborhood Report uses advanced AI to
provide real estate agents and homeowners with unprecedented
condition insights into the homes that recently sold in a
neighborhood.
"Our release of Vision AI last year was a fresh, groundbreaking
use of how computer vision can be used in real estate. This feature
of Vision AI provides powerful insights without the need for photos
of the property but rather focuses on using computer vision on the
recent sales [comps] to bring condition insights to a specific
neighborhood," Jaggi said. "It still leverages the same computer
vision models to enable agents to instantly show sellers a factual,
data-backed analysis showcased in an easy-to-understand summary.
This creates a foundation for a discussion about home values."
Vision AI's new Neighborhood Report can be an invaluable tool
for real estate agents, helping homeowners and past clients
keep tabs on their property's value. For a limited time, homeowners
can test out the online version of Neighborhood Reports
here (revive.realestate/start/check-arv-value).
Mansoor Bahramand, Revive's Chief
Technology Officer and in-house AI expert, notes that Revive's
mission to improve its AI offerings focuses on helping agents win
more listings. "We're building world-class AI solutions at Revive
to help agents deliver more value to sellers and potentially
buyers, too," he said. "Demonstrating agent value has never been
more important," he added.
Bahramand explains that the Neighborhood Analysis section gives
homes a score from 1 to 5, with 5 being the best. This score looks
at key areas like the condition of the home, the outside area,
bathrooms, kitchen, and the rest of the interior. The tool uses
artificial intelligence to compare these scores with similar homes.
Additionally, there's a Neighborhood Condition Score that uses
computer vision to review pictures of homes' exteriors and
interiors from recent sales and combines them with market data to
assign a letter grade from A to F, with A being the best
condition.
Key benefits of the Neighborhood Report feature for real
estate agents:
- Objective neighborhood analysis: Agents gain access
to an unbiased assessment of the overall neighborhood quality with
a letter grade based on the condition of recently sold homes,
enabling them to provide sellers with a realistic market
snapshot.
- Comparative home condition insights: The feature
equips agents with comparative data to help homeowners understand
how their property's condition measures up to homes recently sold
in the area, guiding informed decisions on potential
improvements.
- Data-Backed Pre-Sale Renovation
Discussions: Neighborhood Report offers agents a powerful
tool for evidence-based discussions on the ROI of pre-sale
renovations, aiding homeowners in realizing the value of bringing
their property to top condition, with the goal of maximizing their
sales price.
- Competitive Advantage for Early Adopters: Early
adopting agents using Neighborhood Report demonstrate their market
expertise, providing superior service to their clients and setting
themselves apart.
Availability
The Neighborhood Report feature is now
available to all Revive Vision AI users, accessible via both the
desktop platform and mobile application. Real estate professionals
interested in integrating this cutting-edge tool into their
workflow can visit revivevision.ai to learn more or request a
demo.
About Revive
Revive Real Estate partners with
real estate professionals to provide the funding, guidance, and
contractors needed to get strategic pre-sale renovations done fast
and for maximum value. Discover more at www.revive.realestate.
Media Contacts:
Candice
Mooring | Revive Real Estate
(949) 989-5399
377693@email4pr.com
Kevin Hawkins
(206) 866-1220
377693@email4pr.com
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SOURCE Revive Real Estate