For Data-Rich Property Valuation, Choose a Platform with the API
Blog Post, by FUEL Valuation
When you’re reading an article online, do you take note of how easy it would be to share it on social media? Typically, you can simply click a Twitter icon and tweet without even leaving the page you’re reading. What makes this possible? An application programming interface, or API—that’s the technology, making it easier than ever to aggregate real-time data and calculate accurate property valuations.
Commercial property valuation calls for many different kinds of data, from comparable sales to historical cash flows. You could subscribe to multiple databases and use MS Excel to manually assemble the data. But that takes time that you’d rather spend making deals, and your spreadsheets will always be outdated even before you finish them. There lies the value of API: it can power a valuation platform that automatically accesses many different real-time data sources, so your valuations aren’t lagging market reality.
The hidden power of APIs for CRE technology
APIs allow your computer program to access other applications and data without leaving the one you’re using. The beauty of the API is that it does the work for you. Your application can ‘talk’ to other applications without your intervention.
Because of APIs, technical innovation is happening at a faster pace than ever. APIs integrate many different Web services, revolutionizing how we use mobile and desktop applications—including the technology you use every day to drive transactions.
Real-time valuation data, where and when you need it
Most of the old-guard CRE software platforms, particularly relating to property valuations, aren’t integrated with other applications or easily accessible on mobile devices. More CRE data is available today than ever before but accessing and analyzing it is a time-consuming drag on your productivity if you’re using a legacy software program—and time is money.
Brokers tell me all the time that they need greater convenience, speed and accuracy. That’s why our company launched the charge a few years ago with the industry’s first cloud-based, commercial property valuation platform created for anywhere-anytime access and open API-enabled data integration.
We’ve invested in data integration partnerships since Day 1 with the leading platforms in commercial real estate appraisal and investment. It’s all about accelerating dealmaking with faster, better data, analytics and reporting.
We take care of the data integration behind the scenes. All you have to do is get started modeling debt, creating scenarios and generating high-quality professional valuation reports—based on real-time data from a wide range of sources.
Valuation is all about the data, and that’s why it’s all about the API, too. When you’re choosing property valuation software, look for an open platform with an API that can integrate any number of data sources. With faster, more accurate modeling and scenarios, you’ll see the power of the API—and so will the clients you impress.
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