123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Real-Estate-and-Foreclosure >> View Article

How Computer Vision Is Aiding The Real Estate Industry In 2020?

Profile Picture
By Author: Derickjames
Total Articles: 7
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Computer vision is not a mere option, but it has turned into a necessity now! The real estate industry is yielding add-on benefits with technology. The computer vision has given rise to the usage of artificial intelligence, virtual reality, and augmented reality. The traditional method of renting, buying, and selling are being replaced by the power of computer vision today. Are you looking to gain knowledge of how computer vision plays a vital role in the real estate industry?
More than 4.5 billion people are using the internet and the easiest way to address them is by using computer vision. Users at the present pace are prone to realistic images and they seek good home buying experience. With the outburst of COVID-19, people welcome computer vision services rather than taking a physical visit to the location. Creating a responsive computer vision has increased real estate sales even amid the pandemic outbreak.
Math magic
With the “pixels per metric” ratio, the size of an object can be measured. Thinking about how it can relate to the real estate industry? Yes, it can relate better. The 3D layout of any property is designed initially and measurement for each room happens with this ratio. With this advanced technology, there is no need of implementing the traditional way of measurements. Mapping a complete property and measuring the dimensions of rooms have become easy with the help of computer vision.
Automated Valuation Models (AVM)
The listings of home price estimates are turning out bad and it upsets a customer who wants to check the price and availability of the property. To overcome this, AVM has been introduced. It gives comparable data of properties, historical house price movements, property improvements, and other necessary ideas that users need. This AI helps users to take strong decisions and even comes up with equity options. It uses two types of evaluation to generate suggestions in microseconds.
Hedonic Model
Repeat Sales Index Model
These two are widely used to evaluate a property in AVM. AI even looks at the image listing of the property and compares how it affects the price of a property and that is what makes it the successor in the real estate industry.
Image classification
Guess what? With the help of computer vision, people can easily list their property details from room-wise. Thinking how can it happen? Property search websites and realtors who are uploading their property images will classify their pictures under several categories. Based on the variety of search queries given by the user they can generate the list of properties they want to see. For example, John wants to see “Residential 1 family” houses in Collin cad. The agents who have uploaded on the category of the same search query will pop up on the search results. Users of the current age are more attracted to pictures and high-resolution website pictures will get through the pooling.
Computer vision with AI has created a potential resource for buyers and sellers to rely on it. The computer vision has transformed the real estate industry with a photo-centered buying experience. With this fast pace of development, the global computer vision market is expecting to make $48.32 billion during 2017-2023. This COVID-19 situation has also helped computer vision to grow rather than flattening the curve. Using virtual tours are helping investors to see properties with more details than before. This advantage has increased investors to come back to virtual tours rather than physical visits. Many investors are utilizing virtual tours offered by property listing companies which yield financial benefits for the parties involved. This is how computer vision techniques are helping the revolution of the real estate industry!

More About the Author

Hi all, I am Derick James! I have a passion for writing articles about property tax and real estate. To know more about me, write to me @ derickjames784@gmail.com.

Total Views: 98Word Count: 602See All articles From Author

Add Comment

Real Estate and Foreclosure Articles

1. Cut Your Property Taxes - 5 Ways To Fight Your Taxes Today And Save Future
Author: Derickjames

2. Guide To Help You Get Ready To Avail Best Homes For Sale In Sacramento, Ca
Author: Henry Clark

3. Checklist For Selecting A Paying Guest
Author: xobo

4. Real Estate In Hyderabad – Situation & Scopeent
Author: navyanavvi

5. Property Management Companies To Maximize The Property Value
Author: Ekirk patrick

6. Property In Delhi Ncr
Author: Rishabh Group

7. Sustainable Building Planning In Bromley: Emerging Market Trends In 2020
Author: Caitlin Allen

8. Listing An Investment Property With A Home Realtor - What Are The Problems?
Author: Rick Lopez

9. What Are Some Of The Top Commercial Leasing Services Offered By Professional Agencies?
Author: Rick Lopez

10. Things To Know About Residential Villas In Anna Nagar
Author: keerthicad

11. Ten Reasons Why Real State Is A Superior Investment
Author: Kishore Reddy

12. Where Can I Buy 2 Bhk Flats In Mohali?
Author: Harmanjot Singh

13. A Place For Savvy Investors To Invest!
Author: Derick James

14. 9 Points To Consider For The Best Nyc Tenant Representation And Real Estate Advisory Services Provid
Author: Harvest International

15. How To Find The Best Local Real Estate Agents?
Author: Rick Lopez

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: