Business solution examples

CASE 7

AI Valuer Robot for Condos

The real estate tech (ReTech) company case. An AI system that can do price appraisals of apartments in place of real estate company employees.

Case overview

We were asked by a real estate company to develop a system to do the apartment value appraisals currently being done by real estate company staff for owners who are looking to sell.

Background / Challenges

  • To accurately gauge a fair price for an apartment, its sales history (cases of being bought and sold) must be examined. But real estate portal sites are generally lacking in this information.
  • Some people who request appraisal of apartments are dissatisfied with the lack of transparency from real estate company staff.
  • Staff members were tasked with the workload of doing research on apartment sales history.
  • The Ministry of Land, Infrastructure, Transport and Tourism is actively involved in using AI to assess second-hand houses and apartments. There are now an increasing number of venture companies dealing with real estate tech (ReTech).

Results / Outlook

We developed a system to calculate the market prices of certain apartments by letting an AI learn market tendency forecasts from sales history data.

Our solution

Apartment value appraisal for real estate companies
Apartment value appraisal for real estate companies

We developed a system for AI to replace real estate company staff in evaluating apartment prices for the owners who wish to sell.