Introducing Profet AVM: Enhancing Valuation Accuracy for Informed Decisions
Introducing Profet AVM: Enhancing Valuation Accuracy for Informed Decisions
Profet Automated Valuation Model (AVM) provides accurate valuation for a given subject property by applying multiple valuation methodologies. Profet AVM generates a comprehensive and precise value by considering factors such as previous sale prices, neighborhood home price indexes, and comparable sales. Profet AVM reports include a confidence score, and insights into the subject property’s history and the top comparable sales. Also includes maps highlighting comparable properties and the subject, market condition charts for the specific zip code, and histogram charts for neighborhood distributions.
Streamlining Lead Management with 
Lead Dashboard Section
Prospektr’s Agent/Broker interface now includes a Lead Dashboard that provides a bird’s eye view of all the leads (both buyers and sellers) that were generated. The dashboard provides easy access to the number of visitors, listings they viewed, saved and searched along with the open and click rates for the marketing emails sent to consumers. The dashboard is a central location to gain insights into your leads and track the effectiveness of marketing campaigns.
Lead Dashboard displays the following counts:
- New leads: Number of new leads captured in the last month
- Qualified Leads: Leads who have shown more interest in recent days
- Engaged Leads: Leads who have been actively using the platform recently
See What’s New in Prospektr
Agent Portfolio Page
Agents can now build their own portfolio pages to present their expertise and experience. Contact details, including phone numbers, email addresses, and a shareable URL, are readily available on this page, allowing users to connect with agents directly. Agents can share their portfolio pages easily on social media and capture leads directly through their personal page.
Agents Can Add Saved Searches
Agents can now add saved searches for their clients to recommend properties. Clients can tweak it for themselves. Marketing automation campaigns can utilize the saved searches to auto-recommend properties to the clients and increasing online engagement.
My Home Campaign Automation
My Home campaign automation allows agents and loan officers to communicate directly with their clients about their current home – both valuation and financing recommendations are pushed to the clients automatically by Prospektr. This engagement with the homeowner helps agents & loan officers to be first contacts for the homeowner.
Tavant and PropMix Partner to Automate Loan Processing and Underwriting Using Appraisal Digitization
Tavant and PropMix Partner to Automate Loan Processing and Underwriting Using Appraisal Digitization
Tavant, a leading provider of AI-powered digital lending solutions for the consumer lending industry, announced expanded functionality within its touchless Lending® platform through a new partnership with PropMix, a fast-growing real estate valuation, decision support, and automation platform. Appraisal Digitization from PropMix combines image processing, deep learning, OCR, and real estate valuation knowledge to deliver an accurate and consistent service to transform PDFs of various quality levels and different standard appraisal forms such as single-family, condo, or multi-family appraisals.
PropMix Announces Prospektr Buy Box for Real Estate Investors and iBuyers
PropMix, a leading provider of data, insights, and solutions for the real estate and mortgage industries, revealed Buy Box, part of its Prospektr suite, to help iBuyers, investment managers, and single family rental companies easily identify properties that fit their investment strategy and connect with listing agents. Buy Box is part of the Prospektr suite which offers a wide range of capabilities for various real estate industry participants such as agents, mortgage lenders, and title companies to collaborate and simplify the home buying process while empowering the homeowner to optimize their largest lifetime investment.
New Insights Launched
- Improved Home Valuation Model to enhance the model’s performance by incorporating new regression models based on zip codes and implementing additional pre-processing techniques for newly added independent categorical variables like basement type pool type etc along with the existing numerical variables to predict the home value
- Implemented Home Valuation Performance Metric to optimize the valuation model by introducing a reliable performance metric called Confidence Score. This metric provides a reliable indication of the computed home value for a property and thereby offers valuable insights into the model’s performance
- Location Proximity Analysis feature determines the value of a property by calculating its distance from landmarks such as highways, airports, industrial sites, and more that affect its value. This analysis takes into account these factors to assess the overall value of the property
Upcoming Insights
Here are some of the new insights ready to roll out soon:
- Introduce enhancements to forecast accurate Rental values for properties listed in the market
- Implement Cap Rate calculations for listed properties using the Automated Valuation Model (AVM) value and the list price
- Home Valuation Improvement to add multiple similarity score based adjustment algorithms along with existing regression models to improve the computed home value of a property
Real Estate Data Enhancements
- Improved the precision of Spatial Data Coordinates which allows users to accurately locate the properties. This improved the reliability of property search and enable users to access more accurate and dependable comparables
- Integrated the 2022 Census tract data into our database which helps users to get up-to-date and detailed demographic information for their desired locations
New API Enhancements in Production
- Enhanced the foreclosure data processing to incorporate new statuses related to foreclosure activities. Also implemented a new API to facilitate searches on foreclosure data
- The search area limit for polygon APIs has been expanded to allow a maximum diagonal distance of 100 miles.This improvement enhances the users with increased coverage, flexibility and enables effective property searches within a broader geographic scope.
Upcoming Enhancements in APIs
- We are thrilled to introduce our new APIs that are based on nationwide normalization of the agent rosters across multiple MLSs. By providing their unique agent IDs, they can now easily retrieve their listings across all their MLS memberships. Our APIs are designed to optimize agents workflow, allowing them to efficiently manage and present properties to clients.
New MLS Markets Added
The following MLSs were added/renewed during the last three months, see the list of recently added MLSs below:
Alaska
Alaska Multiple Listing Service
California
Siskiyou Association of Realtors
Georgia
Central Georgia MLS
Michigan
Upper Peninsula Association of Realtors
Mississippi
Northeast Mississippi Board of Realtors
New York
Staten Island MLS
Ohio
Western Regional Info Systems & Technology Inc
Oregon
Clatsop Association of Realtor
South Dakota
Aberdeen Multiple Listing Service
South Dakota
Realtor Association of the Sioux Empire MLS
Texas
Central Hill Country Board of Realtors
Texas
Greater El Paso Association of Realtors
Texas
Wichita Falls Association of Realtors
Wyoming
Cheyenne MLS
Disclaimer: All logos used in this representation are the property of the respective MLS
Latest Market Insights
PropMix covers the top 15 metro areas as part of market insights, and the data is updated monthly. Key statistics such as median sale price of Single Family Homes, sales volume, months of supply, and inventory for sale are covered for each metro. An overall comparison of these metros across each metric is also published each month. Read More
