Vancouver-based Eli Technologies announced today the launch of Eli Report, an artificial intelligence platform that assists real estate professionals in reviewing and uncovering potential issues contained in condo and strata documents.
Eli Report uses machine-learning to extract critical information from years’ worth of strata and condo documents, increases transparency by identifying potential building issues, by-law restrictions and budget concerns in only a matter of minutes.
The platform, which has been in development since early-2018, exits its beta phase with over 500 realtors across 75+ brokerages in Metro Vancouver and Victoria registered.
“We recognize that buying a condo is one of the largest and most important purchases an individual can make, especially first-time home buyers,” says Jamie Hankinson, CEO of Eli Technologies.
“A proper review of the strata documents can be very time consuming and complex, but is an essential part of the condo purchase process. We are excited to launch Eli Report in B.C. so real estate professionals can use the platform as a second set of eyes to identify potential concerns, allowing them to elevate their level of service, and better inform their clients.”
An Eli Report highlights important considerations like rental, smoking and pet restrictions from a set of by-laws, as well as instances of leaks, theft, litigation and special levies – to name a few – contained within the meeting minutes. The layout of an Eli Report is intuitive, displays extracted data chronologically within specific categories, and supports report sharing between realtors and their clients.
Eli Technologies currently offers Eli Report in B.C. and has plans to expand the platform into major condo markets across Canada and the US. Condo owners and prospective condo buyers can obtain an Eli Report from their realtor or property manager, who are able to sign up for a free trial at elireport.com.