Building an Appraiser Assistive Tool using Amazon Nova Pro

Property appraisals are critical to the real estate and mortgage industries, but the traditional process can be time-consuming and subject to inconsistencies.

Enter the Appraiser Assistive Tool (AAT) - an AI-powered solution designed to streamline and standardize the property condition assessment process. By leveraging advanced image recognition and machine learning capabilities, AAT helps appraisers evaluate properties more efficiently while maintaining professional oversight and accountability.

This post explores how AAT works with Fannie Mae's property condition and quality ratings system, demonstrating a proof of concept implementation using Amazon Nova Pro. Whether you're an appraiser, lender, or technology professional, you'll learn how AI can enhance the property assessment workflow while maintaining the crucial role of human expertise.

Fannie Mae's property condition and quality ratings are determined through visual inspections conducted by licensed appraisers, who examine both interior and exterior elements without invasive testing. Using scales of C1-C6 for condition and Q1-Q6 for quality, appraisers assess visible components of the property's physical state, maintenance, construction quality, and materials. These standardized ratings help lenders evaluate lending risk, determine property eligibility, and establish consistent loan terms across the mortgage industry. You can learn more details about the property condition and quality ratings at Property Condition Ratings.

Visual property inspections for Fannie Mae condition and quality ratings are a good candidate for automation using Generative AI. By analyzing images of properties, AI systems could automatically detect defects, assess material quality, identify wear patterns, and evaluate construction features with greater consistency than human inspectors alone. These AI systems would best serve as assistive tools for appraisers, enhancing the accuracy and efficiency of the inspection process while maintaining professional oversight and accountability.

AAT processes property images using a system prompt to generate

AAT generates Fannie Mae property condition ratings using Amazon Nova Pro. Amazon Nova Pro is a highly capable multimodal model with the best combination of accuracy, speed, and cost for a wide range of tasks.

The following sample property images will be used for evaluating the automated rating performance of AAT. These sample input property images were generated by Amazon Nova Canvas:

The Appraiser Assistive Tool (AAT) demonstrates the potential of AI to enhance property appraisal processes while maintaining human oversight. By combining the consistency and speed of machine learning with professional appraiser expertise, we can achieve:

- More consistent property ratings across different regions

- Better documentation through automated observation logging

- Enhanced accuracy through standardized assessment criteria

Note: Look at Amazon Bedrock Guardrails to implement safeguards based on your use case and responsible AI policies.

This blog wouldn't have been possible without the valuable contributions of Mallik Panchumarthy, whose innovative thinking and technical expertise helped shape its development. His insightful suggestions and problem-solving approach were instrumental in bringing this project to fruition. From conceptualization to implementation, Mallik's collaborative spirit and dedication to finding effective solutions exemplified the power of teamwork in creating meaningful content. Thank you, Mallik.

Please make sure you have access to Amazon Nova Pro model and use the model's inference profile when using this functionality. Adjust the system prompt text shared early in this post for your need. The code assumes the property images are in "jpg" format and need adjustment for other formats.