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In this video, Jake Lett demonstrates how to create a custom HubSpot quote utilizing a custom product property for the description field, specifically a rich text field. This allows for enhanced formatting options such as bullet points and links. He addresses a limitation he encountered while formatting the description text, where the second line was misaligned below the bullet point. To resolve this issue and incorporate proper padding and linking options, he explains the need to create a new description property that supports rich text instead of the standard multi-line text. The initial step involves navigating to the site settings to add the new property.