News & InsightNew Technology Investment For Centrick’s Valuation Team

New Technology Investment For Centrick’s Valuation Team

Property specialist Centrick has invested in new technology which enables its valuation team to increase the quality, efficiency, and breadth of its reporting on behalf of clients.

Centrick’s valuations team has introduced a new software system, known as Valos, which will streamline its processes, such as data gathering, and provide clients with more comprehensive reports based on the most up to date information available.

Valos was created by former valuers Rob Davis and Alex Kountourides alongside Jan Dexter who after many years in the valuations industry saw an opportunity to develop a solution which automates one of the most time-consuming parts of the valuation process – data gathering and valuation report writing.

Katherine Nolan, director and head of valuation at Centrick, said:

“Our investment in this fantastic new technology will be a game changer for both our valuations team and our clients. Typically, valuers may have to access data sources from 10 to 12 platforms and repositories to obtain key and detailed information about a property, including flood risk assessment, mining history, EPC and so on, as part of the required due diligence.

“This process can take several days to complete whereas with Valos the same process is much, much faster whist also reducing any risk of manual error. This means by using Valos we can be 560 times more efficient. Importantly, Valos also helps us improve accuracy due to its powerful algorithms that helps us get greater depth of information from data sources.”

She added:

“Technology is a core part of our innovation strategy at Centrick and this tool enables our team to dramatically improve efficiency in collation of core data and significantly in terms of report writing. Being RICS accredited, to Centrick’s valuations team it’s important that we’re providing our clients and their customers with great value across the whole valuation process and that we streamline as much as possible to allow our valuers to really focus on areas like inspection, comparable  searches and the valuation calculation where we add real value.

“Meanwhile, Centrick valuation clients from lending panels, mortgage providers, portfolio managers and private individuals alike will benefit from new, very comprehensive reports that encompass all the important information required for lenders. We’re exceptionally proud of our turnaround times and work tirelessly to maintain best in class SLAs. Currently, most of our instructions are based on a five-day turnaround and using Valos will improve our ability to meet and exceed those deadlines.”

In a typical month the Centrick’s valuations team, who are appointed to numerous valuation panels and were recently announced as a top 10 VAS firm, complete around 100 property valuations.

Valos is a platform built by valuers for valuers. By blending automation with valuer input Valos alleviates the mundane, repetitive, and administrative tasks to empower and not replace valuers. It uses technology to address three key aspects; data gathering, report writing and templating.

Centrick has grown consistently since its inception by successfully prioritising innovation, expertise, and building trusted relationships with its clients to deliver high quality service and results. First opening its doors in 2005, the agency now has over 20,000 properties across the UK on its books and manages over £3 billion in client assets.

About Centrick

Centrick’s vision is simple, “To make customers’ lives better everyday, the Centrick way” and for almost 20 years Centrick has nurtured, driven and grown its team by delivering industry leading service. Centrick prides itself on being a company of knowledgeable industry experts with a trusted, joined-up approach to all aspects of residential property. Innovation is at the heart of everything it does, helping it to adapt to the ever-changing market. This is all underpinned with a strong ethical code of trust and family values, where the team works as one to deliver exceptional service. National residential property experts, Centrick is forward-thinking and agile; always looking for new ways to work flexibly to meet the needs of its clients, using its strength and depth, across the property sector. By investing in talent, leading the way on industry practices, developing its technology and systems, it delivers an outstanding service to clients. Providing services across the UK, with offices in Birmingham, Solihull, Nottingham, Fareham and London, Centrick’s services include:

  • Residential sales
  • Residential lettings
  • New homes
  • Build to Rent – BTR, Student & SFH
  • Valuation
  • Professional Services
  • Asset Management
  • Insolvency
  • Estate Management

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