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Aivre Reduces Appraisal Time by 50%, Saving Over 3 Hours per Appraisal With Restb.ai’s Automated Image Recognition Technology

Aivre Case Study - 50% faster turnaround, 5+ hours saved per appraisal report

Aivre is an innovative real estate appraisal software platform designed to transform the appraisal process by reducing appraisal time and enhancing accuracy.

Aivre Partners with Restb.ai - Uniform Residential Appraisal Report

Opportunity

Aivre recognized that the traditional desktop software appraisal process was burdened with inefficiencies and was primed for improvement, principally due to the extensive manual tasks required for each report. Appraisers often spent up to an hour gathering essential property details before even visiting the property, followed by additional time-consuming steps like documenting conditions, taking detailed notes, and organizing numerous photos. These repetitive tasks slowed down the workflow and left room for inconsistencies and errors, making it difficult to maintain high-quality and timely appraisals.

Given that the industry requires appraisers to be responsible for both the development (collecting data) and the reporting (finalizing valuations), Aivre saw a need for a solution to streamline these activities. They could accelerate the appraisal process by leveraging technology capable of automating data collection, streamlining image analysis, and instantly integrating relevant information into standardized GSE forms. This would allow appraisers to shift more time and focus from routine and repetitive manual tasks to using their skills and experience on the actual analysis of a property’s value. Aivre partnered with computer vision leader Restb.ai to leverage their AI-powered technology to transform how appraisers approach the valuation process.

Solution

By integrating Restb.ai’s advanced AI technology, Aivre successfully automated many of the appraisal tasks that previously required significant manual effort and resources. Restb.ai’s image recognition capabilities enabled the automatic identification, labeling and population of property features, drastically reducing the time appraisers spent completing the report. Instead of manually assessing each subject and comparable image, appraisers could now be assisted by Restb.ai to provide accurate condition and quality scores, which are automatically integrated into Aivre’s platform.

Restb.ai technology also streamlined other aspects of the appraisal process. The collection of property attributes, which often involved meticulous data gathering, was expedited as Restb.ai’s advanced artificial intelligence can quickly extract and record essential characteristics. This integration minimized the need for repetitive data entry and ensured that appraisal report generation was more accurate and consistent. Moreover, Restb.ai’s technology enhanced Aivre’s comparable sales page by automatically assigning condition and quality scores to comparable properties, eliminating the need for manual reviews and allowing appraisers to make quicker, more informed comparisons.

The technology partnership also enhanced the efficiency of validating floor plans and integrating all collected data into final reports. By using Restb.ai’s technology with Aivre’s sketching platform, appraisers can accurately classify photos, eliminating any risk of mislabeling. This seamless workflow enabled Aivre to offer a comprehensive solution that not only accelerated report completion but also improved the overall accuracy, quality, and consistency of appraisals.

“Through our collaboration with Restb.ai, Aivre frees appraisers from repetitive tasks, allowing them to focus on their expertise and deliver faster, more precise appraisals with greater efficiency.”


Jake Lew – Aivre Founder & CEO

Impact

The collaboration with Restb.ai has profoundly impacted Aivre’s appraisal process, yielding substantial efficiency gains. Restb.ai’s automation facilitated time savings across various stages of the appraisal process. Tasks that traditionally required manual effort, such as organizing property data, validating floor plans, and selecting comparables, were automated or streamlined. This level of efficiency enabled appraisers to handle more appraisals daily, directly increasing productivity and profitability.

Time-savings includes:

  • Property characteristics collection and validation (e.g., legal description, lot size, etc.): Up to 20 minutes.
  • Note taking at the property (reduced or eliminated): ~20 minutes.
  • Floor plan validation (cross checking floor plan data with form data): ~20 minutes.
  • Photo placement in the report (automating a tedious task and avoiding accidental mistakes): ~10 minutes.
  • Automation of comparables selection (streamlined process to pick applicable comparables): ~ 60 minutes.
  • Typing the Appraisal Report (greatly reduced or eliminated through automation): ~ 60 minutes.

Total time saved: 3+ hours.

 

Aivre Partners with Restb: Complete Appraisals, Appraisal Heat Maps, Property Addresses, etc.
The synergies Restb.ai’s computer vision technology and Aivre’s streamlined workflow collectively save appraisers over 180 minutes per appraisal, while allowing them to focus more of their energy on effectively valuing each property. Given industry statistics suggest that most appraisers can complete 1 to 2 appraisals per day, this efficiency boost could significantly increase productivity and profitability. Additionally, automating routine tasks reduces the risk of errors, leading to higher-quality appraisals and improved client satisfaction.

Overall, integrating Restb.ai’s computer vision technology allowed Aivre to modernize the appraisal process, offering a solution that empowered appraisers to focus on delivering high-quality, accurate valuations in half the time of the industry average.

For more information about how Aivre and Restb.ai are modernizing the appraisal process, please visit our website.