Powered by R3 Companies’ appraisal expertise and PropMix’s valuation platform
Henderson, NV / January 30, 2024 / – Today, R3 group of companies specializing in appraisal management and reviews and PropMix.io LLC – a leading provider of real estate data and AI driven solutions announced the launch of ValueTest.ai – an online valuation research service for real estate agents powered by a unique combination of appraisal-expertise and AI-based valuation engines. ValueTest.ai helps real estate professionals test a value target for a property using AI-driven comp selection before taking an action.
Architect and CEO of ValueTest.ai is Brent Jones, a veteran appraiser with over 30 years of experience and Chief Appraiser of the R3 Review and Management Companies. “Since the inception of online values, I always wanted a tool to prove or disprove the numbers,” Jones says. “There is not an appraiser or any agent who hasn’t heard from a homeowner how their online value is correct. Now there is appraisal grade research that will prove or disprove that expectation”, Jones goes on to say.
Loan officers can also benefit by proactively troubleshooting every transaction for value issues. “Valuetest.ai enabled agents will have a full picture of any problem sales that may submarine a deal. Our goal is to alleviate the risks of surprise appraisal gaps”, Jones stresses as a major benefit.
“We were approached with a novel solution to solve real estate agents’ major pain point of unrealistic seller expectations caused by incorrect online value estimates”, stated Umesh Harigopal, CEO of PropMix.io. “We have created an AI driven ‘Comp Selection Cascade’ filtered by common sense appraisal parameters. The result is research that agents can have as solid ammunition against inflated expectations”. Both Harigopal and Jones are excited about a major by-product of their agent efforts – customizable quality control cascades for Chief Appraisers and AMC’s. “We found our cascade approach from a narrow set of parameters and weightings that expand with comp data availability will deliver the best QC experience to alleviate repurchases as well”.
ValueTest.ai is now available for real estate agents with verified MLS memberships to test their pricing targets and to have meaningful conversations with their customers. Agents can try ValueTest for free for up to 10 properties at www.valuetest.ai.
About PropMix.io LLC
PropMix is the leading provider of the real estate and mortgage AI platform along with apps, insights and data to value, automate and make decisions. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, REALTORS® and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions for the appraiser and lender market empower users to seamlessly engage with data and insights to understand collateral risk, assess appraisal complexity, and make valuation decisions. PropMix was founded in 2016 and is headquartered in New York.
About R3 Companies
Founded in 2015 by Brent Jones, R3 Review and R3 AMC leverage Brent’s experience as a Fannie Mae Senior Analyst for the Western US and over 30 years as an appraisal practitioner. Brent has assumed a valuation advisory role with PropMix. Brent can be reached at www.valuetest.ai or 702-591-7245.
