According to HP Australia, accurate and fast property valuations are becoming an increasing necessity in the real estate industry as both buyers and sellers aim to waste as little time as possible in the purchase or sale of property. This has placed pressure on lenders, and property valuers to review their processes in order to cope with the quicker turnaround times while maintaining integrity and accuracy in the reports produced.
RPG, an integrated property services company, which performs residential and commercial valuations turned to software architects J3 Technology and HP to create a wireless solution utilising HP’s iPAQ Pocket PCs.
So successful has it been, it has attracted Federal Government research and development tax concessions and the company has moved quickly to patent its industry-first business solution.
Today, RPG’s mobile team of valuers can complete valuation reports on-the-spot, and transfer data to the company’s main system in North Sydney, using GPRS and Bluetooth connectivity.
RPG integrated property services is one of Sydney’s leading valuation and consultancy firms. It was established more than a decade ago and has accreditation with more than 30 different lending organisations, most of them major banks. As well as residential real estate valuations, the company also provides commercial, industrial, retail and rental valuations. In an increasingly pressured Sydney property market, RPG found that buyers, vendors and lending institutions were constantly pushing for a faster turn-around of valuation reports. Under RPG’s manual system, the company’s valuers would fill in forms while at a property location and then complete the report back at their office.
“Valuers had a week to 10 days to complete a valuation, however, with the Sydney property market booming and demand for valuations increasing, we were increasingly required to complete a valuation within 48 hours,” said RPG Managing Director Ron Gedeon.
J3 Technology worked with RPG to custom-build the application, called the Remote Asset Valuation System (RAVS), using embedded visual basic and .NET. The solution was designed to eliminate the need for any bulky papers and would allow the valuers to move easily around the building, accurately recording details as they went. The application was loaded onto HP iPAQ Pocket PCs with GPRS and Bluetooth connectivity achieved through compatible mobile telephones.
“To make the solution easy to use, we designed drop-down scripting screens that would provide the key sentences to be filled in, such as the precise land size or number of bedrooms,” said McCutcheon.