Restb.ai, one of the leading AI and computer vision technology programs in the real estate industry, has announced the launch of its new document compliance solution, giving multiple listing services (MLSs) a tool that automatically identifies potential risks tied to buyer agent compensation language within submitted documents.
Oregon’s Regional Multiple Listing Service (RMLS) is releasing this new innovation to its approximately 14,000 subscribers.
Built in direct response to MLS feedback following industry changes resulting from the landmark NAR settlement over broker compensation, the company says document compliance is the first AI solution of its kind. It automatically scans PDFS for type or handwritten references to commission or compensation, then categorizes those references into high, medium or low risk levels.
“We were looking to make our internal processes more efficient and better support our compliance efforts,” said Marissa Bigler, vice president of subscriber service at RMLS. “Restb.ai’s solution integrates seamlessly and will reduce staff workflow, helping us streamline our internal document review process as it’s integrated into our proprietary systems. It’s the kind of smart, adaptable tool that fills a very specific internal operational need, one we see as potentially complementing our future platform enhancements.”
This new tool expands Restb.ai’s MLS compliance capabilities beyond images, complementing its widely adopted Photo Compliance solution. Restb.ai technology reaches more than 900,000 agents and brokers across North America.
“MLSs came to us to help their staff save time since they were checking every document manually,” said Duncan Brownlee, VP of product at Restb.ai. “With our new Document Compliance solution, MLSs can meet their legal responsibilities at a fraction of the cost, with our AI completing reviews in real time as part of an agent’s regular workflow – and more solutions like this are coming.”
Duncan also noted that Restb.ai is planning to expand the capabilities of its new solution. “This is just the beginning; we already have new features in the works to help MLSs get even more efficient with their document risk management.”
The API-powered solution delivers clear results for every flagged issue by showing the exact keyword, the page it appears on and a snippet of surrounding text.
This latest innovation is now live and available from Restb.ai, with MLS technology vendors expected to offer access as they complete their integration timelines.
For more information, click here.
