The first, complete digital rural valuation solution for Australia, DAS Digital Rural Valuations solution enables faster, more thorough, accurate, and consistent rural valuations of rural properties with detailed property data and integration of CSIRO science.
Today 35,000 rural valuations are completed every year in Australia. The challenges today for rural valuation include:
Valuations today rely on information provided by farmers and real estate agents that is often hard to verify.
Comparative sales are difficult and time consuming to find. While rural property databases are available, they remain difficult to search by address
Due to perceived conflict of interest and lack of independent data sources in the property valuation process, there is increased scrutiny and query from Australian Prudential Regulation Authority (APRA).
Increasing pressure from APRA and European Central Bank (ECB) to separate the valuation of properties from sale of the loan – today the Agribusiness Banker has responsibility for the valuation of the property and the sale of the loan product.
While the agribusiness credit model is calculated using weighted quantitative and qualitative factors there are no standardised measures for the critical risk, sustainability and productivity measures at a farm level.
It is estimated a single valuation costs between $1,200 and $2,200 which gives rise to two questions:
How can data gathered when doing an internal valuation be more thorough, accurate, and consistent, providing APRA objective justification for a derived valuation amount?
How can the process of finding comparable sales data be made more efficient?
DAS integrates the key rural data requited for rural valuations and configures in one solution by integrating property data, CSIRO science with comparable sales data to automate and digitise the valuation process; allowing agribusiness bankers to better utilise their time.
Capabilities include:
Find your Farm
Filter farms based on critical features
Overlay property datawith CSIRO productivity, sustainability and risk data
Generate a standardised valuation report
This is first step to integrate productivity, sustainability and risk data at a property level into a bank’s Credit Rating System.