NEW YORK, NY, July 8, 2020 -- Compass, the real estate technology company, today announced the launch of Compass Lens, AI-powered software that visualizes and recommends which home improvements should be made to maximize a home’s value.
Compass Lens is powered by artificial intelligence and uses deep learning computer vision-based room detection and image search. The product launch comes on the heels of the housing market’s ‘miraculous’ rebound as buyers are looking for homes and applying for mortgages at record rates.
How it Works:
Real estate agents generate hundreds of millions of images every year when marketing properties. These images create a data set that contains valuable information. Among the most valuable information can be found in before and after photos of renovated homes that have sold.
Using room recognition, Compass Lens matches a photo of a client’s home with the most similar before and after photos of completed projects.
Once powerful room recognition technology identifies similar past projects, agents and their clients can browse before and after pictures and sales data to determine which home improvement services will be most impactful on sale price and days on market.
As the housing market rebound continues to accelerate, agents are finding new ways to guide clients remotely. By allowing agents and their clients to collaborate and align on which home improvements should be made completely virtually, Compass Lens empowers home sellers to prepare their home for the market without any in-person meetings or viewings.
Before Compass Lens, an experienced agent would walk through a home and determine which improvements should be made. With Compass Lens, agents can make data-driven recommendations without ever needing to enter a home.
