Newsletter March 2022

Perform property Evaluations within

Profet.ai has introduced a new fully customizable valuation report for Evaluations. Evaluations are an alternative valuation product used for certain loan products and follow the 2010 Interagency Appraisal and Evaluation Guidelines. Evaluations rely on data and analytics from real estate markets and does not require a property inspection or an appraiser’s certification. As such they are cheaper and faster to deliver and as long as the guidelines are followed it is meant to provide for a tolerable risk.

More valuation insights from Geospatial Analysis and Machine Learning

The latest addition to our repertoire of valuation insights is the determination of property orientation and corner/cul-de-sac locations and its influence on property values. The model also considers how such factors may contribute to property values in different neighborhoods and markets.

Profet.ai can Autofill Market Conditions Comments in 1004 Market Conditions Addendum

Profet.ai has introduced the capability to auto-generate natural language comments for market conditions analysis. These comments utilize the inventory analysis insights generated for a neighborhood and provide a plain English explanation of those insights. This is one more feature that saves time for the appraisers.

is now a comprehensive IDX platform on steroids

Over the last quarter we have included major capabilities in Prospektr to make it a flexible IDX platform that can power real estate portals for real estate brokers or lenders with real estate data access via a brokerage. A comprehensive public announcement is in the works about this major upgrade. Prospektr is different from other IDX platforms like Zillow or Redfin due to its in-depth research, property & marketing monitoring, and marketing automation capabilities.

Pro-Mode in Prospektr - Optimized User Experience for lead mining

Agents and Loan Officers can now use Prospektr’s Pro-Mode to define their marketing farms, find properties using 50+ filters – mortgage rate, LTVs, deed, ownership, tax, value, rent, cap rate, etc. They can also monitor their target properties or markets for new opportunities.

Automated lead qualification using Lead Scores calculated from user behavior information

Prospektr now computes lead scores using consumer behavior information. Lead scores combined with activity timelines provide agents and loan officers a simple interface to find qualified leads from Prospektr’s lead capture platform. Both score accumulation driven by activity and score decaying based on inactivity are customizable for each customer.

Prospektr adds social engagement capabilities that seamlessly integrate into Facebook, Twitter, or LinkedIn

Consumers, Agents, and Loan Officers using Prospektr powered IDX portals can now share and market a property on a social network with the click of a button. Social posts include branded content including property and listing details.

Prospektr's Listing inventory now includes Foreclosures, Pre-Foreclosures, and HUD Listings

Here is another differentiator between Prospektr and other IDX platforms such as Placester or Lone Wolf. We now include all foreclosure, pre-foreclosure, and HUD listings for a more comprehensive listing search which makes the IDX portal a lot more engaging and stickier.

New Insights Launched

Quarterly rolling average House Price Index (HPI) along with monthly and yearly HPIs. Rolling average HPIs are better for applying sale date adjustments during valuation and are also better suited for HPI forecasts
New Days On Market Insights launched to track many different variations of measuring days on market - Listing Date to Pending Date or Listing Date to Close Date counted for all sold properties versus counted for all pending and sold properties. These variations help agents and appraisers better understand the nature of a seller's or buyer's market

Latest Updates in API and Data

Checkout the latest enhancements on APIs and Data provided by PropMix:

You can now find Sale or Rental comparables using our listing search APIs
Our listing database has been augmented with nationwide HUD listings - all government and GSE owned properties for sale
We have also augmented our comp searches to include all non-MLS sales by adding all public record sales - FSBOs, auctions, etc.

Upcoming Enhancements

Here are some of the new features ready to roll out soon:

Nationwide roll out of the property level location indicators - property orientation (the direction in which a property is facing) and corner classification (identifies if it is a corner property).
Derive geographical value boundaries which can show neighborhoods with similar property values. This helps appraisers and agents find comparable neighborhoods within a town to find comps efficiently.