The Future of Valuation
The valuation of real estate is the critical driver to establishing and defining the marketplace. Financial institutions, insurance companies, loan servicing corporations and the legal industry all rely on valuation to quantify real estate risk and to weight potential losses.
Real estate has lagged other industries to integrate technological solutions which will establish data standardization, thus valuation standards are not uniformly equal in the valuation arena, even though the methodology has existed since the 1930’s.
AccuriZ is positioned to thrive in this often chaotic and unpredictable environment because we provide the user with the basic foundation of data and permit the development of that data for the specific need of the user.
So where is data standardization and valuation going?
AccuriZ invented Valuation 2.0; not only acknowledging the changes that are propelling our profession-but participating in the initiatives that will define how collateral is valued and understood in the broader context of the marketplace. Furthermore, we have an appraiser-centric perspective that encourages the integration of appraisal expertise and fully realized data analysis.
Ultimately, the answer to where valuation is going is a revolutionary change with the appraisal paradigm. Appraisers and related industry professionals are demanding more and better data. They need data sifted, analyzed and pushed to them. Alternative information should be suggested and presented. Adjustments should be extracted from the market and offered to the appraiser. All of the essential data necessary for whole market analysis should be provided to enable a more complete understanding of the subject and its market. It’s all about putting the appraiser in control, and leveraging the available data and technology to empower the appraiser and benefit their clients.
The valuation profession faces changes as profound as any in its history. Technological advancements in data collection and storage have provided us with near limitless volumes of property data; but data by itself is not the complete answer. The ability to understand the data, transforming it in to knowledge and a quantifiable competitive advantage of timing, accuracy or service, will be the skill set of Valuation 2.0 leaders, lenders and those who rely on precise property valuations. Superior analytics are the key.
powered by AZ. AccuriZ‘s focus is on developing and delivering analytic solutions that capitalizes on the industry’s most robust data and transforming it in to tangible competitive advantages. Powered by our own “AZ” valuation engine — the industry’s most powerful statistical analytics – AccuriZ is delivering on our promise. “powered by AZ™” refers to our products utilization of this proprietary set of analytic tools. Through our suite of AZ powered products, we are changing the landscape of valuation.
iVM® (interactive Valuation Model). The industry’s most sophisticated, yet seamless and easy to use, integration between statistical analytics and first hand user knowledge. Valuescape iVM® enhanced solutions provide for variable manipulation based on a user’s personal knowledge of a market or property. Pick your comps, modify property characteristics and much more.
The Importance of Data
It is all about data. Today, valuation professionals are faced with the proposition of having more data available to them than ever before.
AccuriZ understands the importance of data better than virtually anyone else. Why? Because our business is built on aggregating real estate data, building accurate databases, developing powerful analytic solutions, and ensuring that our statistical models provide meaningful and supportable valuations. Encompassing more than 71 million properties and growing, we have invested over $2,000,000 compiling and constructing the most complete real estate valuation related database in the industry. Tapping into this massive data resource, our AZ Engine and sift through data using our proprietary Interactive Valuation Modeling (IVM®) products to deliver relevant and supportable information down to the neighborhood level.
As has been the case in all facets of the knowledge-based economy, data standards will be the catalyst for redefining real estate analysis; and we take our role in this development seriously. AccuriZ co-founder, John M. Watch, is demonstrating that we don’t just care about data, but are actively participating in the efforts to define and standardize data to the benefit of our profession.
At AccuriZ, we believe that data standards will not only change how we present data to our clients — it will propel the accuracy and usability of valuation analysis to levels unimaginable just a few years ago.