Technology reaches the valuation sector with process automation

While digitization in the real estate industry is more visible in the growth of startups, also called proptech, the technology is also applied in processes such as valuations and property value estimates.

“Despite being less noticeable, the use of technology has also fully impacted the area of valuations and real estate estimates, streamlining processes and transforming the sector”, assured the real estate platform CBRE.

“One of the main changes driven by digitization is the valuations automated”.

According to the real estate services firm, automated valuations are those that, through the capture of a series of data and thanks to the comparison of historical statistics, are allowed to yield a result on the estimation of the value of a property.

“Through information such as the offer price of the real estate, the closing price of the operations or the history of the valuationsand thanks to statistical technology, appraisers they create models that help them automate this process”, detailed CBRE in its sent report.

In this context, CBRE forecasts that there will be an increase in the development of more predictive models, with computer tools, that allow the valuation massive property portfolios.

“The irruption of the metaverse or the possible use of tokens in valuations They are also some of the possible future applications of technology in the sector, all in a context marked by the commitment to sustainability”, detailed the real estate firm.

However, the report indicates that, despite the irruption of technological processes, the specialized work of appraisersas well as their physical visits, in order to determine the information to take into account in the algorithms of valuation.

“These processes are carried out through computer tools that, based on the treatment of market databases, apply algorithms and/or mathematical and statistical procedures to provide individual values ​​to elements of a real estate portfolio, whose characteristics have been previously reported. by the applicant for valuation”, CBRE noted.

“In parallel, the appraisers They increasingly use digital tools to provide greater security and accuracy in their reports. Prior to the appraiser go physically to the property, the user can contract and obtain the previous budget through the internet”.

Ease of processes, growth of operations?

For CBRE, having digitized processes facilitates the processes for buyers, who, in less time, can receive valid reports on the price of properties.

Although the objective of applying technology to these processes is to obtain valuations certified to be benchmarks in operations, currently the real-estate market it already offers alternatives to give a price perspective to those involved in buying and selling operations.

Such is the case of TuHabi, that through the Habimetro tool, those interested in having an approximate value of their home can enter a series of data such as location, type of home, number of rooms, age, among other data, to receive an approximate amount of value.

In this case, the tool is designed solely as a reference for a direct transaction with TuHabi, however, the tool can be used freely from its portal.

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