This article is from the Australian Property Journal archive
JLL has unveiled a proptech tool that provides instant valuation assessments and management assessments, including identification of environmental risks such as flood and fire.
The tool, named Valorem, enables geographic information systems to pinpoint location-based risks surrounding assets held in a company portfolio. The risks that are typically analysed in property portfolios include market risk, such as market volatility, property risk including environmental risks such as floods, fire, noise pollution, and price risk.
According to Tyrone Hodge, chief product officer for JLL Valuation Advisory, Australia has been at the forefront of developing automated valuation models (AVMs) and offering proptech solutions to house valuations data in one simple dashboard.
“The Valorem platform provides a single tool for companies to organise and manage their portfolio, property and valuation data. We really want to make it as easy for people to look at their real estate portfolios like they would their bank accounts.”
The platform rolls up information into a snapshot of property assets, including the current value of the assets and full portfolio value, property specifications and property attributes, capital expenditure, past valuations of the properties, vacancy rates if it is a commercial building, and location-based risks.
JLL has been actively developing these capabilities around the world.
JLL’s suite of technology “does not negate the need for human intelligence in valuations, as the technology is only one significant part of the larger picture of a property’s value,” noted Tony Lenamon, CEO, JLL Valuation Advisory, Americas.
“Additionally, it helps appraisers reach even more accurate results by providing a benchmark.”
