Realtors usually stage properties physically before advertising them, but it’s costly and time-consuming. Generative AI firm Virtual Staging AI lets Realtors digitally stage a property.
Harvard Innovation Labs’ Virtual Staging AI has 4,500 monthly paid users and aims to change the real estate and staging business. The firm bootstrapped to $1 million in ARR in 10 months and generates over 500,000 renderings every month.
The startup’s co-founder and CEO, Michael Bonacina, told Eltrys that he saw a listing that let visitors see the flat’s furnishings when searching for a Boston apartment for Harvard. Computer vision enthusiast Bonacina sought to improve the experience and make it easy for Realtors to include it in their listings.
Bonacina and Harvard student Mikhail Andreev decided to launch a virtual staging firm to save real estate agents and house sellers time and money after attending a startup research and development class.
The startup’s application lets Realtors quickly add furniture to empty room photographs. Realtors may use the feature to show furnished rooms instead of empty ones. Realtors may convert an empty room into a bedroom, living room, office, playroom, etc.
Realtors may delete and change furnishings from photographs using the tool. The startup’s technology can replace mismatched furniture in a picture with contemporary furnishings.
Rework a picture as many times as you like if you don’t like it.
Bonacina admits that although there are numerous AI tools for picture generation, they can’t be used for real estate or virtual staging since you can only modify so much while being loyal to the property.
Bonacina noted that adding an empty room to DALL-E may change the window into a wall painting or add a door. That clearly misrepresents the property. Something special to real estate is needed.”
Virtual staging AI’s model can find a room’s floor, ceiling, mirrors, and doors in 3D. Based on Realtor preferences, the AI model selects the ideal furnishings.
Realtors may pay someone to digitally stage a space using Photoshop, but virtual staging AI offers a cheaper and quicker alternative. The company’s lowest subscription costs $12 a month and includes six pictures, while its most costly plan costs $69 and includes 250 photos.
Bonacina also stressed that the firm needed to create an easy-to-use generative AI platform. The typical age of all real estate agents in the National Association of Realtors in the US is 60, which is why the firm intended to offer a simple and accessible tool for Realtors.
Bonacina and Andreev funded $250,000 from personal and family finances to launch Virtual Staging AI.
Over time, real estate has evolved from in-person showings to virtual tours. AI has revolutionized healthcare and robotics, so it’s no wonder that real estate is following suit.
