Valuation of property can be a tricky task, and for those that have tried to battle it, it can often end up being a mind bobbling mess of confusion. For the more professional valuers that are handling multi million dollar properties, one small error, say adding an extra zero can lead to all sorts of disasters, e.g. thinking you’re making a large profit when really you made none at all. Now imagine trying to explain that one to your boss. Today’s talk was on the software Estate Master by the Director of Advisory Services, Alex Moffat.
This software conducts development feasibility and professional real estate valuations while simultaneously minimizing the common errors humans are prone to make. With 10,000 users this extensive and detailed software comes with a hefty price tag. But their impressive cliental can afford to have the latest and best software, where their clients range from AMP, Westpac, Jones Lang LaSalle and Ernst & Young. For further insight into the use and operation of the software, check out the youtube video below.
By now you have probably realised that Estate Master could only be afford by medium to large corporations that maximise the benefits of the software in ways that a small business would not simply be able to. But how would small businesses, that take up a majority of the construction and property industry be able to cope without this “essential” software? Well my classmate Hugh Makin made this important point and all is well as there is a lite version available. So rest easy little guys.
This is all well and good but as I recall the lecture was supposed to be on IT systems and Property Evaluation and we didn’t seem to get to that part. Rather it ended up being a talk by a promoter for fantastic software that solved all the worlds’ problems. To put it simply, it was the coolest thing since sliced bread. To be quite honest I found it difficult to connect in this lecture and I often found myself scrolling my facebook newsfeed laughing at a pointless yet hilarious video of a cat playing the piano, rather than listening attentively (seriously watch it, it’s hilarious). Don’t get me wrong, the software does sound and proves to be quite an improvement in real estate valuation and is great to know, but I would have found it more engaging and valuable if other competitive software’s such as Feastudy were mentioned and perhaps compared and contrasted. Either way, it was a real benefit to learn about Estate Master and its importance in large projects is undeniable, but I did find the cat video much more entertaining…