Engaging in real estate investment is a serious task, but because of technology, things get more convenient. Duties like looking for deals, selling properties, entering rent contracts, making financial analysis can be done even without performing it manually. The use of computer vision makes you accomplish a variety of tasks even at the comforts of your own home.
However, using technology may be time-consuming as well. When you have little to no idea on the applications and tools that you can use, you might end up being frustrated on downloading and deleting applications that do not serve your end.
In Real Estate IQ, we are creating a culture of teamwork by supporting each other. In leading computer vision to your real estate career, we prepared a list of applications and tools that you may use:
For property assessment- Redfin and Foxy.ai
Redfin provides a condition assessment of the property by analyzing photos and telling you the relative condition of a home. Foxy.ai, as partnered with redfin can be installed in chrome. These integrated applications will provide you a score based on the automation analysis. The lower the score, the better condition it is. It can help you save time when you are assessing hundreds of homes a day. Through using computer vision, you can already filter out the houses that are being sold in a good condition as against those that require a lot of repairs and works.
For 3D imaging- PLNAR
This application can be used in imaging, mapping, and measuring. If you have a phone with a regular 2D camera, you can use this application to reconstruct the photo and make a 3D representation of the house.
For legal and contract recognition- Microsoft Azure and Amazon Textract
These applications are useful in legal and contract tax recognition.It can help you analyze forms and documents, create search indexes, and automate business workflow. You can also take a photo of your receipt and it will recognize necessary information.
You do not need to have a background in computer vision to use these applications. The recommended list is very user-friendly. Everyone can enjoy using it.
If you want tools that can help you in your real estate investment career, we recommend our REIQ Tools! The technology and automation are likewise integrated into these investment tools for your success and comfort. Feel free to check the following:
Use live MLS Data to quickly and easily run your own CMA/comps anytime, anywhere!
Send us a list of addresses and we will do the skip tracing and return your list with email addresses and phone numbers (both landline and cellular).
If your marketing strategy involves phone calls, texts, or emails, our Premium Deal Finding Suite lets you receive our top off-market lists with the skip-tracing that has already done for you!
Joseph Dela Cruz has a background in Mechatronics Engineering and started his career in the high-tech industry in Austin, focusing on computer vision while becoming involved in the growing DIY/ maker and startup culture. His achievement includes bringing innovation in Real Estate IQ by combining technology, big data, and real estate; managing the Data Operations and Engineering team; and REIQ’S Austin & San Antonio Market Leader