04 Apr Real Estate Valuations and Appraisals to Receive Technological Upgrade
Bowery Valuation is changing the name of the game when it comes to valuation and appraisals with its new automation software. With the help of Cushman & Wakefield and some other real estate-focused investment firms, this small startup has created technology to automate and optimize the appraisal process.
The founders of Bowery created a software platform with an aim to save time in an industry that has remained relatively unchanged over the past several decades. Bowery’s software includes features such as automatic public record retrieval, a passive database feature that saves past rental and sales comps for easy future access, and a revamped appraisal report system which utilizes natural language and “check-the-box” style questions to describe a particular real estate listing. These features ultimately save time in the preparation of the appraisal.
With all of the technology available out there today, it’s almost a surprise such a software wasn’t utilized earlier. As more and more industries move towards revamping and enhancing antiquated processes, the message is clear: get on board or get left behind.
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