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In a bid to speed up loan approvals and valuation efficiency and accuracy, Hometrack has launched a new assisted valuation browser-based technology – Hometrack Valuer (HTV).
HTV was developed in conjunction with independent property valuation entity Opteon Property Group, and is described by its developers as the next evolution in assisted (or desktop) valuations.
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HTV incorporates data and imagery based on Google Maps, which enables a valuer to carry out an assisted valuation from a remote location while using comparable data.
“Hometrack Valuer represents a leap forward in electronic valuations,” Hometrack chief executive officer Brendan Darcy said.
Mr Darcy said the product – used in conjunction with the company’s data-based valuation tool, Hometrack Automated Valuation Model – would deliver certainty for customers and increase conversions for brokers and lenders.
Opteon chief executive officer Greg Sugars told The Adviser that while the product is aimed at the lender market, it may be accessible to the consumer market over the longer term.
He also said it would slash lender turnaround times. “It is much faster than traditional valuations. With this technology, lender turnaround times could be cut from two days to just six hours.”
