PRP tackle desktop niche
PRP Valuers and Consultants have not adopted the approach of cutting valuation costs at the expense of accuracy, but have instead developed E-Valuers, a tool aimed at increasing and maintaining the integrity of the physical valuations where all data is confirmable, with some time efficiencies.The IT platform will be used predominately as a valuation management tool to provide valuers with data about the property, before a physical inspection is made.Damian Kininmonth, national director of Preston Rowe Paterson Melbourne Pty Ltd, has developed E-Valuers in-house over the past five years, utilising the technology for the past four years in Melbourne, with a national launch expected in coming weeks.Kininmonth said, "The desktop element is really for low lend properties, it's an assessment and not classified as a valuation, and the accuracy is variable depending on the quality of the data."Users will receive a far superior level of valuations. How many good loans do you have to write to cover a bad loan? We are aiming not to save costs, but to maintain the integrity within valuations."He continued by saying the PRP developed system allows valuers to pull up a property they have previously visited and valued at any time, where the desktop technique is a way of determining a base level of value and is an assessment and not a valuation.The first showing of E-Valuers was during the recent Mortgage Finance Association of Australia conference in Adelaide, and although the product is in its infancy, Kininmonth anticipates the technology will attract more valuers to PRP.