The market value assessment tool is now available! This feature on the EspaceProprio mobile app analyzes various factors and trends in the real estate market to allow you to determine a property’s value directly from your phone. So how is it used and how helpful is it? Read on to learn more.
How does the market value assessment tool work?
The market value assessment (MVA) is based on an artificial intelligence process powered by a range of information, including current sale prices, historical data and a home’s specific details (including property type and location, property assessment, livable surface and lot size, number of bathrooms and bedrooms, and whether there’s a garage or parking). It’s also possible to refine assessment results by indicating the year of renovation of certain components, such as the roof, windows, kitchen or bathroom.
“The market value assessment tool is based on an elaborate process that was designed in close collaboration with real estate brokers. It draws on several key data sources. It’s worth noting that you’ll be able to track the market value of your property over time – over periods of three months, six months and one year. There will be regular updates and it is possible to manually adjust information after any significant change is made to your home.”
– Maeva Louis Joseph, Product Manager at EspaceProprio
In fact, this approach guarantees a dynamic assessment of market value, adapted to a user’s evolving needs. Thanks to this smart analysis, you’ll be able to better understand the value of your property (or a property you’re interested in) in the context of the current real estate market.
Download the EspaceProprio application from the App Store or Google Play, then enter your property details. The tool will calculate the estimated market value in no time!
Why choose EspaceProprio’s market value assessment tool?
Easy to use
It’s never been easier to appraise your home’s value. A few taps is all it takes to get a calculation result. You can use it for a condo, bungalow, two-storey, semi-detached, chalet or rowhouse.
Get support to make decisions
Whether you’re thinking of buying, selling or just want to know a property’s value, our tool provides you with the information you need to make an enlightened decision. As an added plus, market value helps determine a property’s sale price.
Reliable
We take the accuracy of proposed assessments very seriously.* That’s why we added a precision deviation to the app, to help understand the reliability of results. A MVA will not be displayed if we deem the value provided isn’t sufficiently precise.
Keep in mind that the market value assessment generated does not replace a professional assessment. However, we’re constantly working to improve and add new features to offer an even more enriching experience.
Please consult our Additional information on privacy to get more details on data used in the market value assessment tool.
MVA tool: a commitment to owners
Real estate is more than just an investment. At EspaceProprio, we understand a property’s value goes beyond the financial and includes a sentimental value too. That’s why our team developed this market value assessment tool. The feature reaffirms our commitment to provide owners with everything they need. It’s worth emphasizing that this tool is the result of a collective and multidisciplinary effort.
“The goal was to have a feature that was simple, fast and free,” explained Maeva Louis Joseph. “People who use it will be able to learn the market value assessment of their property after answering some questions in just a few taps.”
Note that this tool is meant to complement the rest of the options already available on the market. Those choices, regarded as being more complex, take more time and have a cost involved (like a market value assessment by a licensed appraiser, for example).
A feature that fits well with EspaceProprio’s mission
EspaceProprio wants to modernize the experience of homeowners and aspiring homeowners and a mobile app can help. The app includes a customizable maintenance guide to efficiently manage home-related tasks, year after year. By adding a market value assessment tool to what we offer is one way to reinforce homeowners’ ability to independently manage their property. Our app also provides easy access to real estate professionals for a variety of needs, including renovating, maintaining, selling and buying property – which is fully aligned with our mission.
*The value generated by the market value assessment feature does not constitute an appraisal, an actual value or a guaranteed selling price, or the opinion of a real estate broker or licensed appraiser as to the price or fair market value of the subject property. Information is provided for reference purposes only and should never replace the advice of a professional regarding the assessment of a property’s market value.
