Last Updated on: 22nd November 2023, 04:11 am
A new tool is about to improve the timeliness of property valuations around the globe.
InterVal is a cloud-based solution for the real estate industry that helps valuers produce industry standard reports in a fraction of the time that they are currently able to.
Although not the sexiest of subjects, the accurate and timely valuation of properties is essential for a number of business and private financial practices.
For instance, this new tool can help progress and accelerate the securitization of loans, mortgage originations, property sales and leasing issues, insurance coverage, audited financial statements and investment decisions.
Current valuation systems can feel somewhat antiquated too. This tool modernises them, reducing the risk of liabilities, while producing standard-compliant valuations more efficiently.
Joachim Bertot, InterVal CEO, discussed the importance of their new tool and how it is helping the business of finance. He said: “Valuations are one of the main bottlenecks in the financial sector. Facilitating standard compliance and reducing turnaround time will help increase deal-flow and foster the development of a more efficient and transparent real estate market.”
One of the things that sets InterVal apart is its scalability. It is flexible enough to work in data rich areas, such as the UK. However, it also can be adapted to areas where there is little information available.
Emile Fremont, InterVal CPO, was keen to discuss this point.
He said: “A lot of great valuation products have emerged on the market lately. But most rely on Automated Valuation Model (AVM) technology, focus on calculation only and forget about the rest. Unlike them, our idea is to marry cutting edge technology to standard-perfect valuations and put it in the hands of all valuers, everywhere”.
