Are you thinking of buying a property or maybe you own one and would like to sell it? Want to know how much this property is worth? No problem, it's quick and easy from home - at least more and more property valuation apps promise that.
The App Stores are full of digital helpers. Some of them are completely free, while others demand money for a valuation. But how effective are them? Can we really trust the result or just get confused?
Just add some photos and - BAM - your property's value shows ups!
However, in order to use such applications, it is usually necessary for users to provide various private data, such as name, email or telephone number, property registration and other data that we usually only provide to those we know. Afterwards, a photo of the property is uploaded and the value is displayed. However, the photos are not really decisive. They are only used for artificial intelligence to determine whether the object is an apartment or a house.
On the other hand, other information, such as the transmitted GPS data, comes to the surface, because, above all, it is the location that determines the value of a property, you are giving your postal address again to those you do not know. Manually, data such as dimension of the property, year of construction or number of rooms must be specified.
Do these applications provide serious information?
I believe that property valuation apps have to be looked at with caution. Since the valuations are based on some criteria and important parameters are missing here, which may lead to questionable results. The applications cannot therefore be used for a serious valuation, they can satisfy the spontaneous curiosity of anyone interested in a valuation of their property. But obviously this is not the purpose of digital helpers, they should give an indication..
So to get an approximate overview, applications for the valuation of a property are generally good, but they will not replace a detailed valuation made by a professional on site. Because experience and therefore a professional consultant usually should be the choice. Meta data alone will not enlighten us about the value of a property, because the consultant's experience to analyse the characteristics of the property, such as location, neighbourhood, conditions of the property, investments to be made, etc., are the database of the experience of the professional real estate agent and his team.
Text: Paulo Lopes