We are reviewing key presentations from the 2022 RESO Autumn Conference to prepare for the 2023 RESO Spring conference in San Antonio, Texas (April 18-20). WATCH THE VIDEO (16:13 minutes)”The next big thing will start out looking like a toy.” – Chris Dixon
The opening quote of Conroy’s talk on new developments in AI can be summarized in one word: Wait.
Wait for the shiny object that will become your daily need.
Wait for the first few iterations to mature before you buy AI products.
Wait for the products’ understanding and ease of use to improve.
Version 1.0 of any software is often dismissed because it does not meet the user’s needs. Conroy stated that this is a common reaction because people are prone to underestimate how quickly technology will improve.
Stable diffusion, for example, is a simple and affordable concept that is available. Stable diffusion is a text-to-image, deep-learning model that generates detailed images from simple text descriptions. It can produce stunning image-to-image translations using a text prompt. AI tools are already creating stunning artwork and images that look extremely realistic.
AI was once only accessible to a few people, but it is now available to almost everyone. AI has already had a dramatic impact on the art world. Conroy stated that AI-generated images are not copyrighted.
Conroy displayed some of these amazing images made from three amusing descriptions.
A transparent sculpture of a duck made from glass
A cute corgi who lives in a house made of sushi
Swimming at the Olympics 400m Butterfly Event: Teddy bears and their teddy bears
Each of these images was a crowd pleaser. But the relevance to RESO standards starts to emerge when you consider the real-estate uses for:
renovation previews
Listing photo modifications
Stock photo generation
Take a look at the following text prompts.
A living room featuring two white armchairs and a painting of Rome Colosseum mounted over a modern fireplace.
a Cape house, 2 or 3 stories, with a moderately-steep-pitched gabled roof, a large central chimney and very little ornamentation
Listing photos are often misrepresented, which is a problem for MLSs, brokers, and consumers. Conroy stated that AI might be needed to determine if photos have been edited by AI.
This has been a topic that the Research & Development Workgroup has worked hard on. The Media Resource has been updated with a new field called MediaAlteration. This will be the definition of the field.
Photos can be altered, enhanced, or created by computer or manual drafting. This list of lookup value is used to identify when the photo was altered or fabricated. It is recommended to check your local laws and policies regarding the allowed alterations.
It will perform the following lookups
Virtual Staging – Addition
Decluttered – Items removed
Twilight Conversion
Virtual Renovation
Virtual Representation – To Be Built
Virtual Representation – Under Construction
Model Home
None
Modifications to Other Media
Virtual Enhancements
AI products could develop faster than Human Intelligence (HI) realizes and could soon become more part of our daily lives. However, RESO is aware and vigilant about the potential pitfalls of AI.
Conroy stated, “You’re not going to believe anything online ever again.” He might be right.