On May 5, 2022, technology real estate platform – proptech OneHousing (belonging to One Mount Group) launched the first automatic home valuation tool in Vietnam, helping to estimate the value of real estate accurately according to transactions. Currently, the results are accepted by the bank as the basis for determining the mortgage loan limit.
In the Sao Khue 2022 award season, this proptech platform has just been honored for its comprehensive solution to help users have a simple – transparent – seamless home buying and selling journey.
OneHousing’s home valuation tool applies technology Automated Valuation Model, Researched and developed by a team of experts in the fields of data – technology – finance – real estate from One Mount Group on the basis of large data accumulated from real estate transactions and collected price history. Collected and verified by Jupiter Real Estate Consulting Co., Ltd for 10 years.
At the time of launch, the home valuation tool had valued more than 400,000 apartments from 380 projects and 50,000 low-rise houses from more than 90 projects. OneHousing is expected to reach the milestone of more than 600,000 apartments by June 2022, by the end of 2022, it will reach 1.5 million assessed homes. OneHousing’s home valuation tool is available to anyone who needs to check the price of residential real estate, the valuation results are accepted by Techcombank – the bank that owns the leading market share in the field of home loans in Vietnam.
Less time, instant results
In the usual way, customers with real estate valuation needs must contact a valuation company, pay a fee to be assessed on the spot. On average, the valuation of a house will take from 7 to 15 days, so customers often only resort to a valuation company when they have a need to mortgage their property for a bank loan. OneHousing’s home valuation tool offers a streamlined process that takes up to 90% less time than the conventional process. With just 3 steps, get instant home valuation results, 100% online, available on any device, anytime, anywhere. And completely free, the result is accepted by the banking system for mortgage financing, starting with Techcombank.
For both buyers and sellers, having the right property views and assessments helps them get together quickly and effectively close a deal at a price they both feel comfortable with. OneHousing’s home valuation tool provides the most relevant information to the market, helping buyers and sellers promote transactions in a transparent and fair manner, with interests protected.
Technology to help solve the valuation problem
As the most dynamic and dynamic market in Asia, maintaining an average growth rate of 15% per year, Vietnam’s real estate is forecasted to have a very positive outlook in the next 20 years due to the fact that urbanization is still growing. low and going strong. With a highly accurate automatic home valuation tool, OneHousing’s technology solution is expected to contribute to the transparency of the real estate market, step by step solving the backlog problems of the traditional market. OneHousing’s home valuation tool is expected to be one of the new factors bringing positive changes to the whole Vietnamese real estate market.
The home valuation tool also opens up opportunities for digital transformation in the home loan segment of banks, when the valuation results are considered as a reference base in the property appraisal process on loan applications. In addition to saving up to 90% of time when switching from traditional valuation to automatic valuation, this tool also helps to minimize negative situations that may occur during the loan appraisal process. client.
Mr. Dang Cong Hoan – Deputy Director of Techcombank Retail Banking commented on the opportunity of OneHousing’s home valuation tool: “In fact, in order to recognize the valuation results of a proptech in the most appropriate way and in accordance with common lending practices, in addition to evaluating Proptech in terms of business scale, consulting experience, and banking experience, must evaluate not only the model or calculation formula but also the scale of Big Data, the margin of error… of hundreds of thousands of results compared with market data. From there, the “results” are returned in the most close way to both the Bank and the borrower. Banks in their operations always have the need to digitize the experience for home loan customers, while on the other hand, customers also have the need to speed up the transaction process to seize the opportunity to buy a house to serve their daily life. your life in the most convenient way. “
Based on the power of technology, OneHousing is building a comprehensive platform (one-stop-shop) to bring an honest, smooth and fast home buying journey for all customers. After the home valuation tool, this Proptech platform will continue to launch the Market Research Tool, giving users the most intuitive and transparent assessment information about their real estate products. intend to invest. In addition, a representative of OneHousing said that they will soon deploy a financial solution (Easy Mortgage) with Techcombank to help homebuyers create online loan documents quickly and simply. This trio of technologies is expected to create positive changes in real estate transactions in 2022.
Ms. Vu Tuyet Van – Sales Manager of OneHousing said:
“The home valuation tool from OneHousing helps customers just click to know the value of the apartment they want to buy, homeowners know the exact value of their property without being affected by the “virtual price” from real estate agents. information disturbances in the market. By 2023, OneHousing will continue to expand valuation to millions of land and residential properties nationwide, thereby contributing to promoting the transparency of the primary and secondary real estate market.