Explaining the synergy between the two, Rose said Class Valuation was “the first organization to collect authentic data from authenticated real estate origin,” adding that the company possessed the “only premium solution” that uses computer vision to capture data. complete and standardized property lines in repeatable fashion.
The software in question incorporates a 3D scanner that scans the property, stitching together thousands of images to create a virtual interpretation of the property.
Rose said that, in the meantime, DataMaster had built “unmatched” MLS integration and data management software for appraisers, enabling “transparent” and standardized data consumption.
He said: “They have completely digitized neighborhood analysis, market analysis, comparable selection and more, while keeping the appraiser in complete control. Together, we have now shaped the future of real estate appraisal with the complete digital appraisal process from start to finish. ”
The deal has been closed at a critical time in the appraisal industry, with severe appraisal order backlogs, mounting costs and a shortage of professional appraisers. The acquisition is also seen as a move to modernize the appraisal process, which has lagged behind the rest of the home buying process.