Monday, November 21, 2016

Homequant Expands Into 75 US-Canada OFFICE Markets

To Download the Office Valuation App ... Search 'CRE Office' in Google Play

PRESS RELEASE
http://prlog.org/12565491

PRLog -- Homequant, Inc. is pleased to announce the expansion into 75 US-Canada Office markets, including Manhattan, Boston, Chicago, Cleveland, Dallas, DC, Los Angeles, Miami, Minneapolis, Portland, San Francisco, Seattle, Toronto and Vancouver, and many more markets around the world will soon be covered. In fact, any major market with a skyline is their perfect target market.

All of these markets can be accessed via their revolutionary Office Valuation App "CRE-Office."
 It can be applied to a lone property or en masse to produce excellent "Quick/First Look" values - from Trophy to Class A, B or C offices - without having to enter any accounting data leading to the Net Operating Income or Cap Rates. All one needs to know is the sub-market the property is located in, an approximate rentable area and a few general characteristics that can easily be gathered by looking at the property online.

The introduction of Homequant's CRE-Office App makes it now possible to value an entire skyline of any of these major cities in matter of days, not years Of course, the App does more than just city skylines; it's equally equipped to value CBD peripheries and immediate suburbs.
They also understand that all Class-A, B and C Offices even in a given sub-market are not monolithic; instead, each class is highly diverse within its own universe causing wide variations in valuations. 
Consequently, they break each Office Class down to three sub-classes: Max, Mid and Min. The users are, therefore, required to specify if their subject is the Best in Class (Max), Mid-range (Mid) or Lower-end of the Class (Min), thus helping define each property more precisely, resulting in more accurate and uniform values. Additionally, nine property characteristics variables are provided to further fine-tune all subject values.

In short, their invention first helps specify the subject at the Sub-market and Office sub-class level, leading to the property-specific Rentable SF as well as the aforesaid nine property characteristics, thereby producing a highly accurate value at the property level.

Even if all nine characteristics questions are unknown to a user, s/he will be able to value the subject as long as the sub-market, office sub-class and rentable area are supplied. Of course, their system will produce more accurate values if more characteristics questions are meaningfully answered. Obviously, someone who answers all nine questions will receive more reliable and accurate values than someone answering only three characteristics questions randomly. For example, since mid and high-rise buildings in CBDs are often more valuable with retail components at the ground level than their counterparts without the retail, simply specifying the proper answer to the binary 'Retail' question would produce a more realistic value.

No doubt, the fact that the user-inputted subject data and the resulting valuations are not stored anywhere in their system will provide high level of confidence and relief to the users - in the sense that their activities are not being watched, nor are their values secretly warehoused.

The efficiency lies in the uniform implementation of their underlying valuation algorithm. In fact, their tests show an Office property - whether Trophy or A or B or C, with the aforesaid data available - can be valued using the App in less than 60 seconds, making it the most efficient "Quick/First Look" (individual and mass) office valuation system ever.

Their App is currently available in Android (in Google Play, search CRE Office) and soon in Apple iOS. A web portal is in works too. Needless to say, their invention is productive to users, either way - whether one needs to value a single subject property on-the-go or one who needs to value a group of similar or dissimilar properties quickly on desktop.

Their invention will immensely help potential investors - who are evaluating competing properties - get quick values from their system, thus narrowing their choices down to the finalist's requiring professional appraisals. It will help commercial researchers, portfolio managers, appraisers and assessors to sample portfolio pricing, without having to resort to full work-ups and/or outside appraisals. It will help the commercial real estate attorneys representing clients on assessment-related grievances as they can quickly evaluate the merit of each case, a priori. Last but not least, since their invention works uniformly across all major markets, national investors, attorneys, hedge funds, REITs and appraisal houses will increasingly depend on their system as the go-to "Quick/First Look" valuation system due to its speed, consistency, accuracy and uniformity.

In a nutshell, their invention will revolutionize the office valuation market by adding the "Quick/First Look" valuation piece hitherto missing.

The President of Homequant recently explained this addition to their product suite: "With the launch of the Office Valuation system, we are proving our commitment to the property valuation industry as a whole.  We continue to show the valuation world how to achieve more with less. For instance, unlike the competition, we do not store the subject population; instead, we let our users simulate their subjects considering they know their subjects the best. Anyway, as we add more international markets to our repertoire, I have no doubt that professionals around the world will be depending on our system as the go-to quick and first-look office valuation system."

If you'd like more information about their products and services, or to schedule an interview, please email them at: Homequant@gmail.com.


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