"Since day one our mission statement has been to provide the most accurate property valuation reports in the market for our lender clients"
Valuation panel and audit services business, VAS Group, has signed an exclusive agreement with tech start-up edozo which both firms say will "guarantee strong commercial property valuation standards throughout the UK".
VAS Group will recommend the use of edozo data and maps in valuations produced through VAS Panel members, which aim to improve the quality of reports provided to lenders.
In return, edozo will create an online product for VAS for the direct benefit of its lender clients. This will aggregate comparable data received through its valuation reports, from which data-sets will include key information on location, average rents, prices and property type, among other important criteria.
edozo recently launched edozoMaps, a new valuation-compliant OS MasterMap tool, which automates title boundaries with a single click.
VAS Panel will provide a full valuation panel management service which ensures the most relevant companies are instructed based on location, deal type and value, while VAS Audit will provide valuation auditing to reduce property specific lending risks and ensure high standards.
Stephen Todd, co-founder and managing director of VAS Group, said: “Since day one our mission statement has been to provide the most accurate property valuation reports in the market for our lender clients. Whilst we have been very successful, the exclusive partnership with edozo will raise standards even further and take valuation panel management to unforeseen heights.
“As a business we are committed to advancing our products and services through innovation and it became clear that a partnership with edozo was a natural fit. edozo will add value to our panel valuers in terms of data quality, data capturing and speed of information, while their willingness to assist our lender clients with market leading technology is a very exciting prospect for both businesses.”
Marcus Ginn, CEO of edozo, added: “VAS Group and edozo share a mutual goal of improving the quality and accuracy of data in the property industry, which enables our clients to make better informed decisions. We are delighted to be partnering with such a reputable valuation panel and look forward to working with the team.”