AI (or artificial intelligence) is grabbing the headlines and in real estate. Today, CoreLogic made a front-page AI announcement with FMLS, the fourth largest MLS in the nation. The news is that FMLS will become the first major MLS to deliver the full stack of generative AI suite offered by Restb.ai, a recent Inman Innovator winner. The four major pieces of the full stack are laid out in the press release below.
Restb.ai AI services will be fully integrated into FMLS’s CoreLogic Matrix platform and CoreLogic OneHome client collaboration portal. Restb.ai’s generative AI automatically extracts data insights from property photos to streamline the listing input process. Using this same technology, once integrated, homebuyers can upload a photo in OneHome and search for listings with desired features, creating an entirely new dimension in property search. I really hope to also see Restb.ai in MLS Touch in the near future.
The impact is powerful because of the players: real estate data company and top MLS platform provider, leading AI-computer vision firm in real estate, and No. 4 MLS in the US are teaming up to deliver a complete AI-powered system to more than 57,000 agents and brokers. This is the type of collaboration that we need more of in our industry. The lack of systems integration has been a plague that has held back MLS innovation for years. I am really excited to see doors installed into the walled gardens.
Here is the official news release from CoreLogic:
Real Estate Tech Leader FMLS Brings Cutting-Edge AI to Agents, Brokers Powered by CoreLogic and Restb.ai
IRVINE, Calif., September 5, 2023 — CoreLogic®, a global leader in property information, analytics and data-enabled solutions, and Restb.ai, real estate’s computer vision leader, are teaming up with First Multiple Listing Service (FMLS), the fourth-largest MLS in the country, to provide the most complete package of cutting-edge generative AI tools to FMLS’s 57,000-plus real estate professional subscribers, delivered through the CoreLogic suite of MLS solutions.
“FMLS is bringing the best that AI has to offer to the real estate industry,” said Jeremy Crawford, FMLS President and CEO and an AI leader in the MLS industry. “We are setting a new standard of tech excellence as we deliver the full Restb.ai Artificial Intelligence Platform through our CoreLogic solutions to dramatically improve the daily work lives of our agents, brokers, and ultimately, their buyers and sellers.”
Restb.ai AI services will be fully integrated into FMLS’s CoreLogic Matrix™ platform and CoreLogic OneHome™ client collaboration portal. Recently recognized as an Inman Innovator, Restb.ai’s generative AI will automatically extract data insights from property photos to streamline the listing input process. Using this same technology, once integrated, homebuyers can upload a photo in OneHome and search for listings with desired features, introducing a new dimension in property search.
Restb.ai services also enhance CoreLogic Listing Data Checker to help ensure MLS and ADA compliance before publication in the MLS and syndication to third-party sites.
“FMLS delivers a distinct AI advantage to its subscribers by enhancing its current Matrix MLS product suite with the addition of Restb.ai AI services,” said Shaleen Khatod, Executive, Enterprise Strategy & Initiatives at CoreLogic. “We are pleased to be working with FMLS and Restb.ai to lead the industry with truly meaningful innovations that we hope will benefit many clients.”
“Jeremy’s technology leadership is helping accelerate the advancement of AI in the MLS industry,” said Lisa Larson, Managing Director of North America for Restb.ai. “He demonstrates a micro-focused commitment to equipping his agents and brokers with AI-enhanced MLS tools to help them succeed in today’s modern landscape. His strategic leadership also underscores an unwavering emphasis on data accuracy and data security.”
FMLS will deploy the new Restb.ai technology throughout its CoreLogic products and services, which will include:
- Photo Tags: During the Matrix listing input process, advanced AI technology reads what’s in the image and provides automated captions for each photo in seconds, saving FMLS agents significant time.
- ALT-Text Technology: AI adds the appropriate ALT-Text (tags) description for every photo uploaded for the listing to help ensure accessibility and ADA compliance when images are automatically distributed to FMLS member websites.
- Generative Property Descriptions: In seconds, computer vision technology takes the dozens of photos and agent uploads for their listing to automatically compose several different property descriptions. Agents may select from the different styles and tones and edit any draft to ensure the property description reflects their own branding style.
- Image Matching Capability: Restb.ai’s MLS Match is a revolutionary new photo match technology integrated into CoreLogic’s Matrix and OneHome applications. Its computer vision technology identifies properties with similar features and architectural styles, delivering a better way to search for properties compared with today’s standard search criteria.
These new features and benefits are in addition to FMLS’s existing photo compliance system and CoreLogic Listing Data Checker. Rollout for the new features will commence in early Q4 2023.
About FMLS
First Multiple Listing Service (FMLS) was founded in 1957 by a group of Brokers who wanted to share real estate listings and connect buyers and sellers. Today, FMLS is the 4th largest MLS’ in North America, serving over 57,000 real estate agents and brokers in Georgia and across the southeastern United States. For additional information or to start a discussion about how we can partner, please contact us at join@fmls.com
About CoreLogic
CoreLogic is a leading provider of property insights and innovative solutions, working to transform the property industry by putting people first. Using its network, scale, connectivity, and technology, CoreLogic delivers faster, smarter, more human-centered experiences that build better relationships, strengthen businesses, and ultimately create a more resilient society. For more information, please visit www.corelogic.com.
About Restb.ai
Restb.ai, the award-winning leader in AI and computer vision for real estate, provides image recognition and data enrichment solutions for many of the industry’s top brands and leading innovators. Its advanced AI-powered technology automatically analyzes property imagery to unlock visual insights at scale that empower real estate companies with relevant and actionable property intelligence. Restb.ai is like having a real estate expert instantly research and provide a deep insight into each of the 1 million property photos uploaded daily.
