Cushman & Wakefield has signed an agreement with Bowery Valuation that will automate and optimize the entire appraisal process.
As part of this initial phase of the agreement, Cushman & Wakefield appraisers will be able to provide multi-family valuation services in the New York market utilizing Bowery’s proprietary technology.
“Bowery’s appraisal platform seamlessly removes a host of manual tasks from an appraiser’s day-to-day work and allows them to truly focus on adding value for their clients,” said Nicole Urquhart-Bradley, MAI, FRICS, President, Valuation & Advisory Americas.
“It also allows us to better serve our clients who need quick turnaround on smaller investment properties.”
The platform uses public record integration and a comprehensive comparable database to increase efficiency throughout the commercial appraisal process, improving the current approach where information is pulled manually from relevant government agencies.
“Integrating technology into processes that have been labor intensive is not just good business, it’s critical to our clients and to our industry,” said Adam Stanley, Cushman & Wakefied’s Global CIO and Chief Digital Officer. “This partnership is another step in the transformation towards our people adding true, thoughtful value for clients by eliminating routine tasks. This is the first evolution of our new state of business.”
Bowery’s reports are generated through its proprietary appraisal platform. The mobile inspection app guarantees no data or information gets lost in translation as the appraisal is prepared. The reports are all produced from scratch with consistent verbiage, increased data accuracy, and significantly faster delivery time than the industry average.
“Our team is incredibly proud of the platform we’ve built and thrilled that Cushman & Wakefield has seen its potential,” said Noah Isaacs, Co-CEO of Bowery. His partner, John Meadows, added, “By freeing their professionals from a manual approach to producing appraisals, Cushman & Wakefield will be able to offer the highest levels of service in the industry and unique opportunities for clients.”
The Cushman & Wakefield/Bowery partnership was generated through the firms’ relationship with MetaProp NYC.
“This partnership is going to be a game-changer in the valuation industry. It’s the first example of MetaProp helping Cushman & Wakefield assess hundreds of potential PropTech opportunities – we’re putting them on an accelerated path to the next generation of technology to meet the current and future needs of their clients,” said Aaron Block, Managing Director, MetaProp NYC.