LOS ANGELES--(BUSINESS WIRE)--AVA launches to revolutionize how commercial real estate owners, developers, investors and brokers do business. With groundbreaking AI technology that determines the accurate value of a commercial property in seconds, AVA is the first instant commercial real estate valuation software to empower smarter, data-informed real estate investing decisions.
While Zillow, Redfin and similar platforms have transformed the residential real estate industry, the estimated $16 trillion U.S. commercial real estate industry has been slow to adopt similar innovations. This lack of new technologies has hindered the industry’s overall growth by making it more difficult to identify potential opportunities and deploy capital. AVA solves this problem by enabling anyone to get an accurate and nearly instantaneous valuation for commercial properties across the country.
AVA is built to accelerate and streamline the traditional commercial real estate appraisal process, including analyzing comparable sales, current market rents and other information to provide an accurate and informed property valuation. But unlike traditional appraisals, AVA provides extremely accurate and trusted valuations without having to wait weeks or spend thousands of dollars. AVA also enables property owners to maximize the value of their properties by gaining insights into how specific capital improvements — such as renovated bathrooms or new HVAC systems — might impact the rent roll and total valuation of their building.
“In the commercial real estate world, just about every action and decision requires a property valuation,” said Nick Segal, CEO, Aqueous Asset Inc. “AVA brings the commercial real estate market into the 21st century by completely transforming the traditionally cumbersome, lengthy and expensive appraisal process. AVA’s powerful technology empowers any professional with a competitive edge by enabling faster and smarter decisions.”
AVA is an intuitive, easy-to-use platform. Users simply type in an address and receive a detailed valuation report in less than 10 seconds. Users get access to a series of projected rent rolls, can review supporting sales and lease comps, and can refine their evaluation for superior accuracy. No special skills are required to interpret the valuations. AVA also has an interactive feature that enables property owners to input minute details of the property that only they would know, ensuring that no relevant facts are left out of AVA’s valuation of that property.
While some existing companies claim to use technology to assist in the commercial real estate appraisal process, the reality is that they still rely on the expertise of a human appraiser to determine property values. AVA — which stands for Aqueous Valuation Algorithm — uses proprietary artificial intelligence to determine valuations within a 98% accuracy rate of the actual sale price. To do this, AVA leverages the most comprehensive and up-to-date spectrum of commercial real estate data sets and then uses AI to fill in gaps in data by factoring in property characteristics, history and age. Thanks to machine learning, AVA also continuously refines its property valuations by learning from feedback provided by verified property owners.
AVA’s current database includes more than 4.3 million multifamily properties across the country. Additional property types will be included in future updates.
About AVA
AVA is the first instant, AI-powered commercial real estate valuation software. AVA’s groundbreaking technology enables building owners, developers, investors, brokers and advisors to determine the accurate value of commercial properties in seconds. AVA provides reliable valuation estimates that align with traditional appraisals without the high cost and time delays. Developed by Aqueous Asset Inc., AVA is the first groundbreaking technology to launch as part of the Aqueous commercial real estate integrated technology suite. To learn more visit AskAVA.net.
