Tech Startup PriceMe Homing in on Property Valuations

Tech Startup PriceMe Homing in on Property Valuations

Ever overpay for something and then get struck with buyer’s remorse? It’s something we’ve all experienced. Maybe it was impulsive, maybe you were under the spell of a charming salesman or perhaps it was just your heart’s absolute desire. Whatever the case, paying R5 more for a pack of bananas isn’t usually material for most. Change that to R500,000 extra for a property and suddenly that’s not something you want to miss.

Traditionally we rely on expert valuations in order to avoid making these mistakes. For example, when house hunting, the first 3 properties you see will affect how cheap or expensive the 4th one appears, but rationally it rarely should – this is human nature. Be that as it may, expert valuations are still really useful given that the average person has neither the time nor the knowledge to derive a value by themselves. Enter PriceMe.

PriceMe is a fairly new South African technology company, headed by Heshil Mohanlal and Preevan Moodley, with the intention of disrupting the property market by providing valuation tools that allows anyone to value a property, instantly and for free. Their team consists of a mixture of data scientists, technology specialists and actuaries. As with most good solutions, the PriceMe founders have themselves had some bad experiences when buying and selling property, so in solving this problem for themselves, they publicized their tool for everyone’s benefit. To continue reading click here…

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