Kiwi Tech Tool to Solve Physical Distances for Real Estate Experts – NZ Entrepreneur Magazine

Kiwi’s technical tool Valocity Connect intervened when there was a blockade that could make it impossible for New Zealand real estate owners to evaluate their homes professionally due to social distance restrictions.

In March, when New Zealand’s COVID-19 Alert Level 4 slammed our economy, fintech company Valocity Global pivoted by deploying the Valocity Connect app. This makes it easier and safer for real estate appraisers to calculate the value of real estate in a precise and compliant manner without risking violations of physical distance requirements. This solution will continue to be used in Australia and will bring continuity through enhanced lockdown.

Valocity entered the fintech scene in 2014, bridging a technology gap that was barely realized. Use smart logic to digitally connect appraisers while creating real-time real estate valuations that combine machine learning-based trust scores with index trends and comparable sales. If you need physical inspection, everything flows seamlessly on one smart platform.

Valo City Connect

The Valocity Connect app makes it easier and safer for real estate appraisers to avoid the risk of violating physical distance requirements.

After the 2007-2009 global financial crisis, stronger banking and regulatory best practices required a much more accurate assessment to inform lending decisions. Meanwhile, expectations of buyers, sellers and appraisers and home prices have risen, requiring banks and insurers to make valuation decisions more quickly and seamlessly.

Valocity founder and global CEO Carmen Vicelich saw this opportunity. “After playing a corporate role for 10 years, I looked around. No one was doing what I wanted to do with data and technology.”

Vicelich leverages a powerhouse team that includes the first developer, Les Cochran, to bring together lenders, brokers, appraisers, real estate owners, and insurance companies for the first time in a cloud-based SaaS (“as a service”). Software “) Created a product. A shared digital ecosystem that includes insurance transformation with products such as my rebuild.

The initiative was successful and Valocity Global was soon founded farther away, currently operating in Australia, Singapore and India, and Valocity was named Fintech Startup of the Year 2019.

By the time the blockade was imposed in New Zealand in March 2020, Valocity Connect already existed and is already under development for real estate data challenges in India and benchmarking the value of real estate in that country. It was being tried.

“Since we created the Valocity Connect, the appraiser seamlessly sent a link to the property occupant to download the app, geotag and time stamp it for verification, and capture a photo with key property attributes. You can safely share it with appraisers and lenders, “says Vicelich. “We had already built a secure, intuitive and flexible infrastructure around the Indian app. When it was blocked, we modified the app and put it in the hands of the occupants of important banking services. I realized that I had the opportunity to achieve business continuity.

The app is currently used for post-blockade remote inspections, such as recent assessments on Stewart Island, and it may take several days for the expert to arrive.

“We already have an automated evaluation model and an immediate desk evaluation
Evaluation, “says Vicelich. “But Valocity Connect enables a hybrid that combines modern data analytics, human value input, and machine learning evaluation.”

Lessons learned from the blockade

The blockade has created uncertainty in many business models, but “as an entrepreneur, you are accustomed to the decisive need for agility,” says Vicelich. “Having Plans B, C, D defines us as entrepreneurs. It’s not a straight or easy line to success, so with its agility to overcome every challenge. It was important to rely on resilience. “

“We realized the importance of the role we offer because people unexpectedly needed to refinance their homes, so we talk daily with the ecosystem of lenders, brokers and appraisers and have a OneRoof partnership. Through updating the post-blockage update of the real estate market to consumers, we have planned to bring transparency and visibility to what we knew and allow expert witnesses to continue. Their work.

“We recognized the world because we know that it has changed so rapidly. As an entrepreneur, your strengths and successes need to change and pivot to adapt to the changing environment. I’m aware of a certain time. “

Looking to the future, Vicelich says he is committed to continuous innovation to continue to lead the NZ market, which is transforming the homebuyers’ real estate ecosystem through data and technology. This includes the rollout of a new mobile app, Shelta, focused on providing social benefits to help homeless people find their beds and access help online every night.

Innovation Nation is a new series that tells stories of innovation and entrepreneurship across New Zealand.

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Kiwi Tech Tool to Solve Physical Distances for Real Estate Experts – NZ Entrepreneur Magazine

Source link Kiwi Tech Tool to Solve Physical Distances for Real Estate Experts – NZ Entrepreneur Magazine

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