According to the report published in IBEF,” Real estate sector in India is forecast to reach US$ 650 billion, representing 13% of India’s GDP by 2025” Technology is going to be the major contributor to achieve the same. Today, Artificial Intelligence is changing the very dynamics of the real estate sector. Property valuation, for example, which for one remains the main contentious points in the real estate buying/selling journey. Today, you do not need professional assistance or even pay for the middlemen services to know the property valuation around your city. While the respective audience is yet to be completely aware of how they can use the free-for-all services, the future of real estate is all about tech integration.
So, what is the property valuation tool all about? Read along to know every bit about this sophisticated technology conceptualized for the benefit of the respective audience.
Key highlights:
- What is a Property valuation tool?
- No guesswork, AI predicts property valuation with stats and data
- Why should you use a property valuation calculator?
What is a Property valuation tool?
The property valuation tool is based on 21st-century machine learning functionality. The sophisticated system stores an extensive set of data to generate a price estimate range. Once the property estimation is generated, the system can further help a user to find out the except property valuation based on the condition of the property.
No guesswork, AI predicts property valuation with stats and data
The traditional process of finding out the property valuation is a bit too cumbersome. Especially, when you compare it with the AI mechanism of finding it out from any smart device. There are times when due to a lot of traveling and meetings, people tend to be put off from even going to visit the brokers. For all those people and everyone, the property valuation tool comes as a relief to ease off the burden off their shoulders.
How does the property valuation tool work?
The highlight of online property valuation is its very functionality. It takes into consideration:
- Category i.e., Commercial, or residential.
- Type of property i.e., Builder floor, Independent house, Penthouse, Studio, or others.
- City
- Location
- Age
- Furnishing
- Size
These constitute the basic requirement to generate a fair market real estate valuation. The system does not take more than a few seconds. Droom’s real estate property valuation tool, Orange Book Value, for example, helps a user with the property estimation within 10 seconds. Yes, that’s quick and convenient!
While this is just the beginning of the role technology will be playing in the real estate sector, one can only imagine the extent of tech integration that can make the whole process a seamless one.
Also see: Changes That Will Improve the Valuation of Your Home
Why should you use a property valuation calculator?
Technology is paving the way for seamless systems for the benefit of the respective audience. It is all about being smart in this digital age. No one likes to waste hours and days on things that could be done away with within a few seconds. The whole point of the property estimation tool is to help users avail the best of tech innovation without having to waste time, money, and resources.
- Unbiased information: You can be sure of the estimation range generated by the system. There is no human interference, just plain data science at play. You can trust on the system that it is not overpricing or underpricing any property.
- Transparent information: It is the pertinent set of property information that is used to generate the price estimation. Every information constitutes the deciding factor for the valuation of any property and the AI with its humongous database goes through every set of product information and compares the previous trends and prices to help you with the estimation.
- Free to use: You do not have to go anywhere or pay anything to know the property valuation. Only a smart device with a running data plan to access the official website.
In the end, it is easy & convenient to use the property valuation calculator. If 10 years back, someone would have said that you can find real estate valuation of any property without having to visit the broker or the location, it would have been deemed as guesswork But, today, it is the advent of tech innovation that is proving to be highly beneficial for all.
So, make sure you are not wasting time and paying for professional service when you find out an unbiased price estimate within a few seconds.