According to the report published in Statista, “The market size of the real estate industry in India was valued at around 120 billion U.S. dollars in 2017 and is estimated to reach one trillion dollars by 2030.”
Though the above stat was published before the Covid pandemic hit the country, the estimation projects the high value involved in the real estate business. With the influx of heavy revenue and demand, there is bound to be a requirement for efficient solutions for the respective audience. Property valuation tool is one such advent that has greatly eased the burden off the shoulders of the potential buyers.
The first thing before anyone goes out to buy a real estate property is to check the valuation estimate. The traditional method dictates that you ask your friends, look out for the right contact, and then reach out to the real estate agents in the respective locality. However, there remains a doubt as to if you are getting the right property valuation. So, you go look out for more real estate agents to cross-check the quoted value.
Say adieu to all the hassles associated with the traditional method. It is time to embrace the wonders of tech innovation to avail yourself of seamless solutions.
What is a property valuation tool?
The property valuation tool is based on machine learning functionality. The system has an extensive database of information and figures about the respective sector. When a user feeds in the necessary information to search for property valuation, it goes through the library of data which includes insights from the estate agents, past transactions, and the current property valuation in the respective area.
All of it is done in real-time to generate a fair market valuation in seconds! For anyone looking to buy/sell a real estate property, it is important to check the property valuation before you commit to any deal.
What are the benefits of a property valuation tool?
Be pro-active! Do not leave property valuation to the wisdom or guidance of others. There are plenty of benefits of property valuation tool, these are:
An Important Part of the Research
Irrespective of if you are looking to buy or sell a real estate property, finding out the right property estimation becomes an essential part of your research. It is always better to be aware of all that is involved to finalize the deal than be in dark. This way you would know if the real estate agent that you are dealing with is a genuine source or not.
Buy/Sell at a Fair Market Valuation
While on one side, a buyer does not want to pay anything higher the market valuation of a property, on the other, a seller, is looking to get the optimum value for his/her real estate property. So, how do you find the middle ground to reach to a mutually acceptable price? Property valuation generates a fair, unbiased estimation based on data science and not on the whims of any one party.
Better Financial Planning
It is better to plan your finances beforehand than to look out for assistance later on. At times, due to poor planning, people tend to lose out on properties they find the most appealing. You can set your budget accordingly to avoid disappointments later on.
Improve the Resale Value
Especially, if you are looking to sell your house or any estate property, it is better to check the market valuation beforehand. The final valuation is dependent upon the condition of the property. If the generated value is lesser than your expectations, you can work to improve the valuation. Something as simple as getting the property renovated with new paint etc. can drastically improve the final selling price.
Easy & Convenient
You do not have to go anywhere, neither do you have to go around to ask for anyone’s opinion. Simply, go online to access the official website to check the final market valuation of any property. All you need is a smartphone or a laptop to access the official website to check the market valuation of any property in any part of the country.
Technology is greatly simplifying the real estate buying/selling journey. Though the online property valuation is only a beginning, it is to be seen what other tech innovations are integrated to further fine-tune the whole process.