How much do Automated Valuation Models (AVMs) save brokers and their customers?
By Mia Colgan, BDM
We haven’t been talking about AVMs enough, have we?
I agree, to be honest, because it is an exciting addition to an already quick portal that will save you time and your clients money.
But for all these claims, how much time and how much money will we save them?
Well, we’ve crunched some numbers, and here’s what using an AVM offers you and your brokers.
Time
As a reminder, our AVMs are available for bridging deals up to £750k.
Over the past 6 months, deals submitted to us under £750k with a physical valuation take – on average – just under 11 days.
AVMs? 0 days. So for every qualifying deal you’ve submitted in the past 6 months, you can now save yourself more than 2 working weeks on moving on to legals.
Money
Over the same period, the average valuation fee was £393.
Now you can probably guess where I’m going with this but the cost with an AVM? £0.
Tracking progress through the portal
The introduction of AVMs means you can start your deal faster through the portal – enquire in 10 clicks, seamless applications – progress to legals even faster – AVMs in 0 days – and get your client the funding they need, when they need it.
In the last 6 months brokers spent more than 3,000 days waiting for valuations to come back, now we can give you those days back.