our property Valuation software

Interval is a simple to use Web Application that guides valuers through a decision tree architecture which allows them to produce “standard-perfect” valuation reports in a fraction of the time, at a much smaller cost and with far fewer human errors.
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Easy Real Estate Valuation
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The first all-in-one property valuation solution which is 100% compliant with the RICS and IVSC

As property valuation practices become more standardised globally with new countries joining the IVSC (International Valuation Standards Council) every year, local property valuers struggle to meet a series of increasingly complex and heavy standards (RICS / IPMS / ICMS). The additional time, cost and complexity of fully adopting the standards are most often cited key barriers to their implementation. This is leading to parallel markets in property valuations of those large firms that have the capacity and ressources to abide to the standards and those property valuers who are pushed to abide by the IVS but struggle to do so. There are an estimated 120,000 Chartered Surveyors with the RICS (Royal Institution of Chartered Surveyors) and approximately 300,000 IVSC valuers internationally. As poor adoption of standards becomes more prevalent and litigation goes up, there is a need for a software solution in which standards are baked-in by design. We didn’t want to create merely another calculation software but wanted to include all aspects of an assignment covered by the IVSC and the RICS.

 

The InterVal software guides local property valuers through an easy to follow decision tree architecture through all aspects of an assignment including the Terms of Engagement, the Valuation Report, the Audit Report and the Inspection Report. In addition to which it provides client and valuer management, assignment tracking, comprehensive training on use and standards and team supervision features. It now takes a semi-trained valuer approximately 1 hour (excluding inspection) to provide a fully standard compliant valuation compared to the industry standard of 2 to 4 days. Future integration of AI and Machine Learning algorithms will allow to not only speed up the process but also reduce human errors. 

RICS REDBOOK GLOBAL EDITION 2017

Countdown before international release

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Standard Compliance

All the tools to generate valuation reports fully compliant with the major standards
RICS Red Book 2017 - Global Edition
RICS Royal Chartered Surveyors Logo

The Royal Institute of Chartered Surveyors is the global professional body promoting and enforcing the highest international standards in the valuation, management and development of land, real estate, construction and infrastructure. The RICS publishes regularly new version of the RICS Red Book which applies the latest international standards and supplement them with additional requirements and best practice guidance.

  • Professional Standard 1
  • Professional Standard 2
  • VPS 1 - Terms of Engagement
  • (a) Identification and status of the valuer
  • (b) Identification of the client(s)
  • (c) Identification of the asset(s) or liability(ies) being valued)
  • (d) Valuation (financial) currency
  • (e) Purpose of the valuation
  • (f) Basis(es) of value adopted
  • (g) Valuation date
  • (h) Nature and extent of the valuer’s work - including investigations - and any limitations thereon
  • (i) Nature and source(s) of information upon which the valuer will rely
  • (k) All assumptions and special assumptions to be made
  • List Item
  • (l) Format of the report
  • (m) Restrictions on use, distribution and publication of the report
  • (n) Confirmation that the valuation will be undertaken in accordance with IVS
  • (o) The basis on which the fee will be calculated
  • (p) Where the firm is registered for regulation by RICS, reference to the firm’s complaints handling procedure, with a copy available on request
  • (q) A statement that compliance with these standards may be subject to monitoring under RICS’ conduct and disciplinary regulations
  • (r) A statement setting out any limitations on liability that have been agreed
  • VPS 2 - Inspections, Investigations and records
  • VPS 3 - Valuation reports
  • (1) Terms of Engagement components
  • (a) Valuation approach and reasoning
  • (b) Amount of the valuation or valuations
  • (c) Date of the valuation report
  • (d) Commentary on any material uncertainty in relation to the valuation where it is essential to ensure clarity on the part of the valuation user
  • VPS 5 - Valuation approaches and methods
  • VPGA 1 - Valuation for inclusion in financial statements
  • VPGA 2 - Valuations of interests for secured lending
  • VPS 4 - Bases of value, assumptions and special assumptions
  • VPGA 4 - Valuation of individual trade related properties
  • VPGA 5 - Valuation of plant and equipment - Plant valuation
  • VPGA 8 - Valuation of real property interests
  • VPGA 9 - Identification of portfolios, collections and groups of properties
  • VPGA 10 - Matters that may give rise to material valuation uncertainty
International Valuation Standards (IVS)
IVSC - International Valuation Standard Council Logo

The International Valuation Standards Council is unique in the role it plays as a valuation standard setter and is a leader in the mission to raise standards of international valuation practice. IVS are globally agreed, high-level standards which underpin valuation for all asset types. They establish a consistent and transparent framework for valuation practice worldwide. It is currently recognised or adopted in more than 100 countries.

International Property Measurement Standards
IPMS International Property Measurement Standard Logo

The International Property Measurement Standards Coalition (IPMSC) is an international group of professional and not-for-profit organisations working together to develop and embed a single property measurement standard. It will ensure that property assets are measured in a consistent way, creating a more transparent marketplace, greater public trust, stronger investor confidence, and increased market stability.

  • IPMS - Standard reporting
  • IPMS - Industrial buildings
  • IPMS - Residential buildings as applied in the RICS professional statement
  • IPMS - Office buildings as applied in the RICS professional statement
  • RICS IPMS data standard
International Construction Measurement Standards
ICMS International Construction Measurement Standard Logo

The ISMS Coalition is a group of more than 40 professional and not-for-profit organisations, working together to develop and implement international standards for benchmarking, measuring and reporting construction project cost. It has developed and implement a common standard for construction measurement which enhances transparency, investor confidence and public trust in the sector.

  • ICMS Framework
  • ICMS Hierarchy - Building
  • ICMS Project Attributes & Project Values
  • ICMS Building Attributes & Building Values

Key software OUTPUTS - PDF Reports - external & Internal use

The simplest way to value properties

Our unique advantages lie in guiding valuers in providing all aspects of the property valuation in compliance with the highest standards of professionalism in the real estate industry. Below are some of the key features already integrated into the software.
FULL VALUATION SOLUTION
Full valuation solution

Value any type of asset, using one to many methods, under market, income and cost approaches.

STANDARD PERFECT REPORTS
Standard Perfect

Perform fully IVS & RICS compliant valuation reports in less than one hour, excluding the inspection.

SPOT VALUES AND YIELDS
Spot Values and Yields

Allows you to share a Spot value or a Yield indicator with your client in a blink of an eye.

DATA ANALYTICS
Data analytics

Use analytical tools to keep track of the latest updates and trends on the real estate market.

PROJECT MANAGEMENT
Project management

Allows you to track the progress on each assignment and ensure your team delivers on time.

QUICK INVOICING
Quick Invoicing

The solution provides an integrated, flexible invoicing system for your valuation assignments

A TO Z VALUATIONS
A to Z valuations

Delivers the whole valuation process, from the TOE to the delivery of the final report with an automatic audit trail.

COLLABORATIVE SOLUTION
Collaborative solution

Work with your team to carry out valuations, based on your own data and priotary information.

VALUATION TRAINING MATERIAL
Training material

Tutorials & Newsletters to help you to be up to date with the latest standards of the industry.

Upcoming Features

BIM Technologies
We believe new technologies will positively impact the future of valuation processes and reporting. Opportunities lie in the use of such technologies, and BIM is one of them.

“Building Information Modelling (BIM) is a digital representation of physical and functional characteristics of a facility. A BIM is a shared knowledge resource for information about a facility forming a reliable basis for decisions during its life-cycle; defined as existing from earliest conception to demolition.”

The integration of BIM technologies into Interval will enhance the availability of information regarding the properties valued as well as the accuracy and interactivity of the valuation reports
GIS Mapping
“A Geographic Information System (GIS) is a framework for gathering, managing, and analyzing data. Rooted in the science of geography, GIS integrates many types of data. It analyzes spatial location and organizes layers of information into visualizations using maps and 3D scenes. With this unique capability, GIS reveals deeper insights into data, such as patterns, relationships, and situations—helping users make smarter decisions.”

Embedded into Interval, GIS technologies will help store spatial and geographical data and improve the knowledge of valuers and client on their territory.
Inspection Process
We aim at developing an integrated and comprehensive Inspection application to ease the inspection process and reporting of information observed during the investigations of the valuer. Inspection reports will be stored into the database and directly integrated into the valuation report, updating - where needed - the information on the property. The use of technology assisted visualisation tools will enhance the valuer and client experience through an interactive information reporting process.
Public Database Information
Interval currently provides the users the possibility to add their own data to use it in their valuations. We understand that in some markets, information on comparable transacted properties is readily available from various public sources. For each specific market, we will develop a unique solution able to feed on and retrieve the information already available on public databases (Land registry office, Notary archives, etc). This will allow the valuers to access a broad range of sources and without leaving the solution.
Market Place
Georg Simmel, German philosopher, declared that cities are a place of market. Interval aspire to become one too. We aim at providing valuers and clients a place to be recognised and interact with each other. Clients will be able to request valuation services for their properties and find the right valuer with the appropriate skills and expertise to carry out their valuation. Through the use of Interval, the client will know its valuation is carried out following the highest standard of professionalism and ethic.
Flexible Template
Each valuer or firm has its own templates and preferences to report its valuation conclusions. While we already provide valuers with a Standard Perfect framework to carry out their valuation, Interval will include a modular template option, with which valuers will be able to decide how to organise their valuation reports to best suit their needs and own preferences, while ensuring a full conformity with the RICS Red Book - Global Standard and IVS.

Bases of Value, Approaches and Methods

InterVal does not only focus on income and profit methods of valuations but cates to all methods, approaches and bases of value as defined by the IVSC. Valuers are now fully prepared to cater to any valuation assignment the may come their way.
Bases of Value
  • Market Value
  • Market Rent
  • Investment Value (or worth)
  • Equitable Value
  • Synergistic Value
  • Liquidation Value
  • Fair Value (IFRS definition)
Approaches
Market Approach
  • Comparable Transactions Method
  • Residual Method
Cost approach
  • Replacement Cost Method (DRC)
  • Reproduction Cost Method (DRC)
  • Residual Method
Income Approach
  • Freehold valuation
  • Gordon Growth Model Method
  • Freehold Capitalisation rate on short term tenure let at Market Rent
  • Term & Reversion - Hardcore & Layer
  • Term & Reversion - Hardcore & froth
  • Freehold with terminable life building
  • Freehold with terminable life building & Reversion to Site value
  • Freehold with terminable life building & provision for rebuilding
  • Discounted Cash Flow Method (DCF)
  • Freehold & Leasehold valuation
  • Synergistic Valuation
  • Leasehold valuation
  • Leasehold dual rate with Annual Sinking Fund
  • Leasehold at Market Rent dual rate with Annual Sinking Fund and allowance for tax
  • Leasehold below Market Rent dual rate with Annual Sinking Fund and allowance for tax - double ASF counting
  • Leasehold below Market Rent dual rate with Annual Sinking Fund and allowance for tax - Parnell Approach
  • Discounted Cash Flow Method (DCF)
  • Other
  • Residual Method
  • Profit Method

Most frequent questions and answers

This is for any property valuer who is following the IVSC and / or the RICS Red Book. It allows valuers to follow the standards to the letter without needing extensive periods of training for chartered membership, the need to go through the standard books in detail at each assignment and making human errors common with “manual” valuations and adaptations of clumsy word templates. The key advantages of the software are that it allows for valuations to be carried out faster, cheaper, more accurate with fuller human errors and completely to standard than manual template adaptation systems. This is a complete solution that allows a valuer to monitor and carry out the entire valuation and client interaction processes from a single, easy to use platform.
We follow the latest version of the standards at all time. At the moment we are on RedBook, IPMS and IVSC 2018.
While the calculations form a very crucial part of the property valuation assignment, they are worthless if the assumptions underpinning them are not present and clearly explained to the client. The standards are there to promote transparency and understanding between valuer and client and making sure that all valuers follow the same rule book. We follow the standards to the letter in an effort to provide better valuation reports to clients that are clear and well explained with all underlying assumptions and decision making clear and well explained.
We do not guarantee that the estimate of value itself is correct, that part is all down to the skills and expertise of the valuer, we only provide the frameworks to make sure that the valuers follow the applicable standards to the letter. Through the use of the software the valuers will be faced with a series of clear choices on bases of value, approaches, methodology, assumptions etc… All the choices they make will be clearly explained in the valuation report and any significant changes and client communication as well as all additional justifications will be displayed in an automatically generated audit trail.
Valuers can input their own comparable data in the system and in certain markets we will look at plugging into public domain databases where they are available and credible. Valuers can also input detailed market research and GIS mapping elements to their reports.
That’s fine, allowances are made for departures from the standards as long as they are explained and justified properly. The software allow’s valuers to state any departures or special assumptions that are particular to a market or asset class.
Yes, plenty, we have a full complement of training that takes valuers that have good practical “on-the-ground” experience and teaches them the key aspects of the standards. We have also put “tooltips” all over the menus to better inform the choices that valuers have to make. The more valuations a valuer does, the more they will understand and see the value in the standards.

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