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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, specifically by utilizing a rich text field. This rich text field allows for enhanced formatting options, such as bullet points and links. He highlights a formatting limitation he encountered while working on a quote, where text alignment was an issue. To resolve this and improve layout, he plans to create a new description property that supports rich text instead of just multi-line text. To begin this process, he indicates the need to access site settings to add the new property.