The valuation industry is undergoing a technological revolution, reshaping how properties are assessed and valued. Traditionally, valuations relied heavily on physical inspections by experts visiting properties. Today, advancements in Automated Valuation Models (AVMs) and desktop or hybrid alternatives are changing the landscape and introducing greater efficiency and scalability, while maintaining quality for lenders & consumers alike.
AVMs use algorithms and extensive datasets—including sales history, property characteristics, and market trends—to deliver instant value estimates. These tools are ideal for homogeneous residential properties, in stable markets and offer an instant indication of where the market may sit, though it can miss the current market dynamics or property nuance that a professional valuer can provide.
Opteon, in partnership with Proptrack, now offer an instant Property Estimate via our website.
Desktop assessments, completed by a Qualified Valuer, leverage data like market trends, satellite imagery, and sales records, to provide remote property assessments. Loval valuers use quality data from the likes of Corelogic, REA, Domain & Pexa, coupled with their local knowledge to assess each individual property. These assessments offer faster turnaround time with a slightly higher accuracy however may miss details such as current property condition, updates or unique features that in some circumstances can have a significant impact.
SmartVal is a game-changing innovation that bridges the gap between traditional and automated valuations. By combining Opteon’s local valuer expertise with CoreLogic’s industry-leading data, SmartVal delivers fast and accurate assessments without the need for physical inspections. This solution significantly reduces turnaround times—providing answers within 24 hours—and maintains a high standard of reliability and compliance. With automated quality assurance checks and detailed digital reports, SmartVal ensures the right balance of speed, accuracy, and professional oversight for lenders and consumers alike.
These changes are reducing wastage, creating capacity within the industry and increasing the quality of work.
Customers are adapting to the industry changes by embracing a hybrid approach—leveraging digital solutions like Desktops & SmartVals as well as physical inspections to reduce wastage and wait times while delivering the most accurate result for each individual customer & property type.
This shift allows valuers to focus on complex assessments while simpler cases with high quality current data readily available can be managed faster & in a more digital workflow. Where a property has recently been sold and a full marketing campaign captures the current state of the property, an internal inspection can delay the deal by 2 to 4 days unnecessarily. With SmartVal the customer now has an answer within 24 hours and the time previously spent driving is now spent on accurate valuation analysis.
This hybrid product model has created greater capacity in the Valuation industry, which historically has come under significant pressure during peak periods due to qualified valuer shortages. Regulatory & compliance standards are also evolving to ensure the accuracy and reliability of tech-driven valuations remains high and in line with international professional standards.
The integration of AI and machine learning will continue to create evolution in valuation processes & products, enabling even more value with precise & quality insights to be delivered. Technology empowers valuers to work smarter, integrating advanced tools with traditional expertise for optimal outcomes. Additionally, as data becomes more accessible, consumers will gain the ability to monitor property values in real-time, turning to professional valuers for deeper and accurate insights when needed.
This technological evolution is not only enhancing efficiency but also redefining how the valuation industry operates, offering exciting opportunities for professionals, lenders and consumers alike.
General Manager - Growth & Business Excellence
0408 422 556
scott.odell@opteonsolutions.com
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