As a property investor in the UK, knowing the potential value of a property is crucial. The value of a property depends on several factors such as its location, size, type, and condition. There are various methods and tools available to determine a property's value, and one such tool is Property Store CRM's instant valuation feature. In this blog post, we'll take a closer look at how the instant valuation feature of Property Store can help property investors stack the deal.
What is Property Store's Instant Valuation Feature?
Property Store is a UK-based online platform that provides a range of property-related services, including buying, selling, letting, and property management. One of its standout features is the instant valuation tool, which allows property owners and investors to get an instant estimate of their property's value and rent potential.
How Does the Instant Valuation Feature Work?
The instant valuation feature of Property Store uses advanced algorithms that take into account various factors such as the property's location, size, type, and condition. The algorithm uses data from various sources, including Land Registry records, to provide an accurate valuation estimate.
To use the instant valuation feature, simply enter your property's details on the Property Store CRM, and within seconds, you'll receive an estimated valuation based on recent sales data for similar properties in your area. See the sample image below:
Set the "Finish Quality" depending on the standard of your planned refurb. "High" should be used for a newly refurbed quality with standard furnishings and "Very High" is used for top-of-the-line appliances and furniture.
As you can see, you only need to gather basic information regarding the property to get an estimate. The margin provided is the expected deviation of the actual value from the evaluation result. The smaller the margin, the higher the confidence level of our algorithm.
Below is an example of Rent Instant Valuation:
Using the Instant Valuation Tool to Stack the Deal
Property investors use the instant valuation tool to stack the deal, a strategy used to determine the potential rent and gross development value (GDV) of a property. By using the instant valuation feature, property investors can quickly estimate a property's value and determine if it meets their investment criteria.
For example, if a property investor is looking for a property with a potential GDV of £500,000, they can use the instant valuation tool to estimate the property's value and determine if it's worth pursuing. If the estimated value is significantly below the target GDV, the property may not be worth considering.
Similarly, property investors can use the instant valuation tool to estimate the potential rental income of a property. By entering the property's details, the tool provides an estimate of the property's value, which can be used to determine the rental income.
Benefits of the Instant Valuation Feature
The instant valuation feature of Property Store offers several benefits to property owners and investors.
Fast and Convenient
Firstly, it's fast and convenient, providing an estimate within seconds, unlike traditional valuations that can take weeks or even months to complete. Using comparable houses may also take 30 minutes of tedious research.
Secondly, the instant valuation feature is highly accurate, thanks to the advanced algorithms used by Property Store. This means that you can trust the estimate provided by the tool and use it as a starting point for making informed decisions about your property.
Cost-Effective and Scalable
Lastly, the instant valuation feature of Property Store is both cost-effective and scalable. Unlike traditional property valuations that can be expensive, requiring the assistance of an estate agent or surveyor, the instant valuation tool of Property Store provides a free estimate, making it a more affordable option for property investors. Moreover, the tool is highly efficient, meaning it can estimate the value of a property within seconds, allowing property investors to quickly assess potential deals. Its fast processing time makes it ideal for property investors who are looking to scale their business.
In conclusion, the instant valuation feature of Property Store is a valuable tool for property investors in the UK. It offers speed, convenience, accuracy, scalability, and cost-effectiveness, making it an attractive option for property investors looking to stack the deal. Whether you're looking to invest in a property or determine its potential rental income, the instant valuation feature of Property Store is worth trying out.
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