Mortgage brokers across the UK will soon have a powerful new tool in their digital arsenal as property analytics firm REalyse launches an AI chatbot designed to make property searches and valuations faster, more accurate, and highly personalised.
REalyse, which has been supplying property data to developers, landlords and financial institutions since 2016, is opening its platform to the general public under new name Pulse – including brokers, buyers and sellers – for the first time.
The technology offers detailed property reports and live valuations, pulling in data from over 20 sources including Land Registry, EPC records and estate agency listings.
Brokers advising clients on where to buy, how much to offer or whether to invest in a property will be able to access to data-rich reports that include price trends, local school performance, crime rates, planning permission likelihoods as well as capital growth potential – all updated monthly. The platform even compares asking versus achieved prices to help determine if a property is over- or under-valued.
GAME-CHANGING
At a demonstration to property professionals in London last night, Irakli Menabde, chief operating officer and co-chief executive at REalyse, highlighted the platform’s game-changing potential – especially for brokers, bridging and mortgage lenders as well as property investors.
Speaking at the event at the Radisson Blue, Tottenham Court Road, Menabde outlined what had earlier been reported in The Times and offered even more insight as to the platform’s future by ‘democratising’ data for everyone and at every level – both institutional, retail and the end consumer.
“What we’re offering is full transparency,” he said. “The housing market is still stuck in those old portals and panels. We’re giving people a tool to understand their specific situation – not just what’s for sale.”
CHATBOT ASSIST
The chatbot can assist with renovation planning by referencing planning data to identify properties likely to secure approval for extensions. A user can ‘add a bedroom’ virtually and receive an instant post-renovation valuation.
For sellers, the platform highlights how similar properties have performed, while its estate agent comparison feature ranks firms by success rate, asking price accuracy and time to sale.
Buy-to-let investors can also benefit from colour-coded maps showing yields and capital appreciation at street level, with the platform offering portfolio tracking tools for £9.99 to £19.99 a month, depending on usage.
REalyse says the tool, soon to be available at realyse.com, is aimed at helping users track the value of their biggest asset – their home – with the same ease and clarity as they would shares or pensions.
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