Computer vision and artificial intelligence (AI) solutions provider Restb.ai unveiled its Valuation Product Suite at the 20th Annual Valuation Expo on Aug. in Las Vegas. Restb.ai is leveraging its expertise in the use of computer vision in real estate to pioneer a valuation suite of solutions designed to expedite the modernization of property appraisals, Restbi.ai said in a release.

With the introduction of the new government-sponsored enterprises’ (GSE) standards (PDR/PDC), requiring more detailed data for each property report, the efficient processing and handling of inspections is paramount. Restb.ai's latest venture dovetails with a significant shift by Fannie Mae, which now evaluates photos for condition and has been rejecting appraisals when comparables are used without the appropriate adjustments.

“Restb.ai's computer vision solution empowers the appraisal industry with what it needs for this change by Fannie Mae,” Tony Pistilli, general manager, Valuations for Restb.ai, said in the release.

Restbi.ai Chief Product Officer Nathan Brannen spoke of modernization regarding this platform.

“The new products we are launching for the appraisal industry are all about modernization,” he said. “Our AI solutions enable appraisers to more quickly analyze properties and markets so they can spend more time using their expertise to produce better valuations.”

For example, Restb.ai’s computer vision can automatically pre-populate and/or validate most required fields for appraisal reports. Its new Valuation Product Suite encompasses advanced Restb.ai technology for comparable properties, data collection, form pre-population/validation, and Restb.ai’s proprietary Appraisal Complexity Score.

Key features of the suite include comparable properties, where the API delivers up to 200-plus recently sold comparable properties when provided with a subject property address.

Data collection includes a solution crafted for mobile data collection apps, enabling real-time image analysis and auto-populating of relevant features within the app. It is also capable of validating client-entered details with corresponding photos.

Additionally, form pre-population/validation allows Restb.ai's APIs to pre-populate and/or validate common appraisal and inspection forms based on public records data, property data, and most importantly, the property photos included in the report.

And it provides an appraisal complexity score outlining prior to an appraiser being assigned. Restb.ai's complexity score provides instant clarity on the intricacy of a property-based living areas and lot sizes, as well as image insights like its condition or unique style.