World’s first AI-powered condo document review platform uses machine learning to extract key information from strata documentation
FOR IMMEDIATE RELEASE
VANCOUVER, BC, December 11th, 2019 – 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. The platform, which 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.
“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.”
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. Eli Report is now available to all realtors, mortgage brokers and property managers throughout British Columbia.
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 British Columbia, 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.
-30-
Social Media:
Blog: elireport.com/resource-center
Instagram: @elireport
LinkedIn: linkedin.com/company/eli-technologies-corp
About Eli Technologies Corp.
Eli Technologies Corp. is a Vancouver-based real estate technology company developing software products for the residential and commercial real estate industry. Its flagship product, Eli Report, is an AI-powered condo document review platform for real estate professionals that enables them to quickly and efficiently review condo documents, while serving as a resource to help inform their clients. For more information, visit elireport.com.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws in Canada. All information contained herein, other than statements of current and historical fact, is forward-looking information. In some cases, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “estimate”, “believe”, “plan”, “would”, “could” and other similar terminology. All of the forward-looking information herein is qualified by this cautionary statement.
Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Eli Technologies at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Eli Technologies identified and applied in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: economic and financial conditions and growth of the real estate services market, outlook for operations, expected financial results, and expectations regarding Eli Technologies’ ability to maintain sufficient funding to remain a going-concern.
Inherent in forward-looking information are known and unknown risks, uncertainties and other factors that could cause Eli Technologies’ actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects Eli Technologies’ current expectations and beliefs regarding future events and operating performance and is based on information currently available to Eli Technologies. The forward-looking information contained in this press release is current as of the date hereof and, except as required under applicable law, Eli Technologies does not undertake to update or revise it to reflect new events or circumstances.