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In this video, Jake Lett demonstrates how to create a custom HubSpot quote using a custom product property for the description field, which will be a rich text field. This format allows for added functionality such as bullet points and links. He discusses an issue with formatting in the current description text, specifically the alignment of text and the lack of padding. To address this, Jake explains the need to create a new description property that supports rich text instead of just multi-line text. He begins by navigating to site settings to add the new property.