For instance, listed properties that contained more indoor images were found to convert better, with more leads generated from such listings. Images that showed different areas across the entire property, including the kitchen, bedrooms, and living room also had higher conversion, said PropertyGuru CTO Manav Kamboj said in an interview with DTC Daily.
One key challenge the Singapore-based online property marketplace faced was “fake” listings, where an agent would not have a particular property on sale but used it as a way to bait potential buyers and peddle alternative property options.
To address this, PropertyGuru used computer visual tools powered by artificial intelligence (AI) to identify whether a listing contained genuine indoor images of the property and to block images, for instance, that contained the agent’s photo and contact number.
“Through deep analysis, we found consumers tend to give leads to properties with more indoor images,” Kamboj said, adding that agents who used bullet points and maintained a content structure using certain keywords enjoyed better conversion.
Such insights then were used to score the quality of listings, where properties that did not meet such key criteria would not be listed as high on the site, compared to those that did, he noted. The data insights also were fed back to the agents as guidelines on how they could boost the response rate of their listings.
He said his team continuously monitored visual recognition tools for accuracy and worked to improve the AI model.
Founded in 2007, PropertyGuru currently operates in four other markets in the region including Indonesia, Thailand, and Vietnam. It has a headcount of some 1,000, including 120 working on product and technology development in its Singapore and Thailand offices, and 150 employees in Vietnam.
On average, the site has more than 2 million property listings and processes 800,000 inquiries a month. In addition, more than 20 million house hunters across the five markets visit the site each month, including some 5.5 million in Singapore and 8 million in Vietnam.
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