The DAS Digital Rural Valuation solution is Australia’s first comprehensive digital platform for rural property valuations. It enables faster, more thorough, accurate, and consistent valuations by integrating detailed property data with CSIRO science.
Every year, approximately 35,000 rural property valuations are conducted in Australia. The DAS solution addresses the significant challenges currently faced in rural valuations, offering a streamlined, data-driven approach.
Challenges in Rural Valuations
Reliance on Unverified Information:
Valuations often depend on data provided by farmers and real estate agents, which can be difficult to verify.Difficulty in Finding Comparable Sales:
While rural property databases exist, searching by address or key features is often time-consuming and inefficient.Increased Scrutiny from Regulatory Bodies:
Organizations such as the Australian Prudential Regulation Authority (APRA) and the European Central Bank (ECB) are pushing for:Greater independence in property valuation processes to avoid conflicts of interest.
Separation of property valuation from loan product sales, a task often managed by Agribusiness Bankers.
Lack of Standardized Risk Measures:
Current credit models lack standardized metrics for critical farm-level risks, including sustainability, productivity, and other key factors.High Costs of Valuations:
A single rural valuation typically costs between $1,200 and $2,200, raising questions about efficiency and consistency in valuation processes:How can valuation data become more thorough, accurate, and consistent to meet APRA standards?
How can the process of finding comparable sales data be made more efficient?
DAS Digital Rural Valuation Solution
DAS offers a single, integrated platform to streamline rural property valuations. By combining property data, CSIRO science, and comparable sales data, DAS automates the valuation process, saving time and improving accuracy for agribusiness bankers.
Key Capabilities of the DAS Solution
Find Your Farm:
Search for properties quickly and efficiently using advanced filters tailored to critical features.Filter and Compare:
Identify properties based on essential criteria, making it easier to locate comparable sales.Overlay Data:
Integrate property data with CSIRO productivity, sustainability, and risk data for a more comprehensive analysis.Generate Standardized Valuation Reports:
Produce reports with consistent metrics and benchmarks that align with regulatory standards.
Benefits of the DAS Solution
Streamlined Workflow:
Automating the valuation process allows agribusiness bankers to focus on high-value tasks.Objective Justification:
Data integration provides APRA-approved justification for valuation amounts.Improved Accuracy:
By incorporating independent data and advanced analytics, valuations are more consistent and verifiable.Incorporation into Credit Rating Systems:
DAS takes the first step in integrating productivity, sustainability, and risk data at a property level into a bank’s credit rating system.
Conclusion
The DAS Digital Rural Valuation solution revolutionizes the valuation process by addressing long-standing challenges in the industry. By integrating critical rural data into a single platform, DAS improves efficiency, accuracy, and compliance with regulatory standards. This innovation represents a significant leap forward in providing agribusinesses with reliable, data-driven insights for rural property valuations.