As companies around the world continue to streamline their operations with the help of technical developments, residential appraisal services are doing their part to keep pace with progress. With professionals from real estate agents and brokers to investors and lenders relying more and more on automation to accurately assess property data, Red Bell Real Estate, LLC, a subsidiary of homegenius Inc. and Radian Corporation, 21st century appraisal solutions that take home price estimations to a new level.
These appraisal services use pioneering technology, including artificial image intelligence and computer vision, to take the guesswork out of assessing property conditions. By allowing the automatic identification of attributes such as finishes, materials, and updates over time and condition, this new assessment technology is transforming the pricing process. Evaluation technology uses machine learning and deep learning that analyze data, identify patterns, and refine conclusions based on new and changing data, reducing bias and making predictive modeling more accurate.
“Using proprietary technology, our appraisal services are engineered with unparalleled data coverage and next-level analytics to quickly and easily deliver unparalleled insights, providing real estate professionals with the information they need to make property price decisions,” said Steve Genzler, Senior Vice President of Products data and analytics for Red Bell Real Estate.
Some examples of this technology in action include the Radian Automated Valuation Model (AVM) which uses sophisticated modeling to quickly and accurately price nearly any single family property in the US, or Radian Interactive Value (RIV) which combines sophisticated automation and user-driven input to provide estimates Pricing quickly. These allow mortgage lenders and investors to obtain the vital information they need when evaluating a home or portfolio. Red Bell also uses computer vision and advanced analytics in the Radian Home Price Index, or HPI, which is driven by artificial intelligence and machine learning, and delivers results weeks ahead of other indicators.
Agents and realtors can also take advantage of this great analytics, modeling, and more in Genius Price Technology, a smart real estate pricing engine that makes the traditional Comparative Market Analysis (CMA) report look outdated. By combining advanced valuation automation with local property data in an innovative and exciting way, this allows agents and brokers to leverage these insights and have more confident pricing conversations with their clients.
When it comes to the range of appraisal services, real estate professionals can feel confident that they are in good hands with the homegenius group of companies. The Assessment Services Group has a good reputation for providing fast and accurate results. For example, Radian AVM has been tested, verified, and approved by Fitch Ratings as one of only five approved providers of AVM tools for Mortgage-Backed Securities (RMBS) transactions.
Looking to the future, homegenius has recognized the importance of appraisal technology, offering services that are unique in scope, easy to use and accurate to keep pace with the evolving needs of real estate professionals. With technology constantly evolving, Homegenius and Red Bell Real Estate plan to evolve while looking forward to continued improvements.
Cady Clark, Senior Vice President, Digital Assessment Products and Sales for Red Bell Real Estate, LLC, a local company
Kade Clark manages the operations of Red Bell Real Estate’s alternative appraisal services, which include automated, interactive and hybrid assessments.
Steve Genzler, Senior Vice President of Product, Data and Analytics for Red Bell Real Estate, LLC, a local business
As President of the Homegenius SaaS Product Organization, Steve Gaenzler leads and facilitates the roadmap and creation of all Homegenius SaaS products as well as customer success teams that ensure value delivery. Additionally, he leads data and analytics teams focused on developing advanced analytics and data products.