A new tool is set to improve the timeliness of real estate appraisals worldwide.
Interval is a cloud-based solution for the real estate industry that helps appraisers produce industry-standard reports in a fraction of the time they currently have.
While not the sexiest topic, accurate and timely property valuation is essential to a number of commercial and private financial practices.
For example, this new tool can help advance and accelerate loan securitization, mortgage originations, property sale and rental issues, insurance coverage, audited financial statements, and investment decisions.
Current rating systems can also seem somewhat outdated. This tool modernizes them, reduces liability risk, while more efficiently producing standards-compliant valuations.
Joachim Bertot, CEO of InterVal, explained the importance of their new tool and how it helps the financial sector. He said: “Valuations are one of the main bottlenecks in the financial sector. Facilitating compliance with standards and reducing turnaround times 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 can also be adapted to areas where there is little information available.
Emile Fremont, InterVal CPO, wanted to discuss this point.
He said, “A lot of quality enhancement products have appeared on the market lately. But most rely on Automated Valuation Model (AVM) technology, just focus on the math, and forget about the rest. Unlike them, our idea is to marry cutting-edge technology with perfect assessments and put it in the hands of all assessors, everywhere.”