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ORLANDO (November 12, 2022) – Augmented reality and image generation through generative artificial intelligence are two emerging technologies that could play a key role in the future of real estate, according to experts at 2022 NAR NXT, The Realtor® Experience, in Orlando, Florida. Sessions at NAR's annual conference covered the role these technologies may soon play and the possible legal and ethical ramifications Realtors® should keep in mind when using them.
On Friday, Dan Weisman, NAR's director of emerging technology, discussed how augmented reality could become a mainstream tool for creating a new experience for home buyers and sellers. He noted that although virtual tours are used in the real estate industry, augmented reality may change how consumers preview a potential house.
"Through the use of a phone, augmented reality will allow us to scan rooms, get dimensions, detect objects, remove them and even replace them with a décor that may be more fitting to your client. This technology will create a totally different virtual experience for a potential buyer of a home," Weisman said.
On Saturday, Weisman took the stage at the Emerging Business and Technology Forum to discuss how the evolution of artificial intelligence has allowed consumers to easily create and manipulate photos. He showcased examples of tools like Dall-E 2 and Google Imagen, which can take a text prompt and use artificial intelligence to produce and alter images with an extraordinary degree of photorealism.
"There is power in this technology that ties into the real estate space," Weisman said. "It could have an impact on renovation previews, listing photo modifications, and stock photo generation."
Weisman showed an example photo of a backyard with a sandbox. With a simple text prompt, the sandbox was removed. With an additional prompt, it was replaced by a fire pit.
"This technology will give you the power to change photos to better portray what your client may envision for the space," he said.
Matt Troiani, NAR senior counsel, director legal affairs, shared copyright best practices and discussed some of the legal and ethical ramifications this new technology may create, noting these new tools currently pose more questions than answers as the law tries to keep up with technology.
"The biggest takeaway is to be very mindful about how you use these tools," Troiani said. "Ensure that you have copyright protection for the works that you are creating. Make sure you have a directive element over the generative AI and be careful not to infringe on someone else's copyrighted work."
The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.
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