New tool allows remote valuations

By Gerv Tacadena | 07 Apr 2020

In response to the social distancing measures amid the COVID-19 outbreak, CoreLogic has launched a new tool that allows property valuers to assess and inspect homes remotely.

The ValConnect Upload Portal enables valuers to provide a link where residents can upload images of the property. The tool provides real-time internal photos of the property, with accompanying time/date stamp and geo-coordinates.

The tool enables valuers to undertake external assessments, kerbside inspection, and desktop assessment without having to physically be in the property.

"Over the past few weeks, we have seen an acceleration and proliferation of crowd-sourced and distance-based collaboration tools, developed to enable the flow of lending in an era of social distancing," said Tim Jenner, executive for product at CoreLogic.

Jenner said the tool meets strict global technology protocols, including data controls and privacy regulations.

"If these services are deployed with robust compliance services, solid data-governance principles and technology standards, efficiency continues to be driven into the system whilst still meeting the high prudential and governing body standards," Jenner said.

Lisa Claes, CEO of CoreLogic International, said the COVID-19 outbreak has shed light on the need to embrace technology to further improve services in the property industry.

"The COVID-19 pandemic highlights the urgent need for creative industry-based solutions which provide stability and support for homeowners in Australia and New Zealand and critically facilitate the continued flow of lending," she said.

Herron Todd White recently unveiled a similar tool, which helps make the process of accessing a property’s equity more efficient.

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