Property Australia

Zero contact valuation

PROPERTY AUSTRALIA March 24, 2020

We’re looking for positive and practical stories of how our industry is innovating in challenging times. This week, we applaud advisory firm Opteon’s new zero-contact virtual property valuation solution.

Opteon’s new service, Virtual Valuation, uses a combination of visual verification aides and a guided interview to provide the valuer with key information about the property and its current state.

This information can be used to create a full valuation report and allow lenders to fully meet regulatory requirements for the security of their lending portfolios.

Augmented with insights from Opteon’s team of valuers, the Virtual Valuation comprises the same quality of data and accuracy as the onsite valuation that lenders are required to obtain to manage risk to their portfolios.

“Opteon wants to enable lenders to keep operating as normally as possible, and we know we can help them manage their risk profile with this solution,” says Opteon’s chief executive officer, Chris Knight.

Opteon has commenced discussions regarding the Virtual Valuation solution with major lending partners who are ready to embrace the change.

“Lenders can be assured that this solution meets all regulatory requirements so that they can continue to approve mortgages with confidence.”

Knight points out that this solution has been a part of Opteon’s roadmap for some time, as the firm sought innovative ways to provide property valuations and advice.

“While the current environment has accelerated the implementation of this solution, we have long known that a virtual solution is the way forward for the industry.

“We’ve acted quickly with this solution because the health of every individual in our community is paramount in these challenging times,” Knight says.

Opteon offers commercial, agribusiness, residential and government property valuation, advisory and specialist property services with coverage in more than 94 per cent of Australian postcodes.

“We’re proud that we’ve been able to bring a zero-contact valuation solution to the market so quickly, and that we’re able to fully support our customers and the broader property industry through this pandemic,” Knight concludes.

How are you tackling business NOT as usual? Do you have a story of how you’re embracing technology, innovation or new ways of working to support our industry?

We’re here for our members, send your story for our new ‘Property positivity’ series to news@propertycouncil.com.au