Toronto, ON (Feb 8, 2023) RPS Real Property Solutions Inc. (RPS), a Brookfield company and leading Canadian provider of valuation solutions to financial institutions and the real estate market, announced today its exclusive partnership with Offerland Technologies Inc. (Offerland) to bring rental data, analytics and technologies that deliver more insightful, accurate and speedier market rent valuations.
For over two decades, real estate data and analytics like automated valuation models (AVMs) have been a critical component of the Canadian mortgage lending process and used to significantly reduce turnaround times, improve underwriting decisions, lower risk, enhance the customer’s experience and decrease overall valuation costs. Financial institutions want to extend these benefits to market rents, especially in the current environment where rentals are more in demand to address reduced housing affordability and rental rates are experiencing rapid price changes due to inflationary and demand pressures.
RPS has partnered with Offerland to deliver market rent valuation solutions that include the only national, reliable market rent AVM available in Canada today and neighbourhood-level rental indices.
Offerland has compiled one of the largest, most comprehensive market rent databases in Canada, developed a reliable, accurate instant market rent AVM that uses a machine learning model as well as built technologies that significantly streamline the process for appraisers to write market rent appraisal reports. RPS’ clients can now leverage these solutions as part of RPS’ comprehensive suite of valuation solutions and management services.
“RPS is excited to bring further improvements to the home and mortgage journeys of our clients through our partnership with Offerland,” said Craig O’Brien, Senior Vice President, Business Development at RPS. “Offerland’s market rent solutions deliver on our objective of always ensuring wins for our clients and continuously supporting their success.”
“With 25 years of valuations management experience and deep, long-standing relationships with almost every major financial institution in Canada, Offerland is proud to partner with RPS and empower RPS’ clients with solutions that bring insights, accuracy and speed to market rent valuations,” said Hamidreza Etebarian, Co-founder and CEO at Offerland.
RPS Real Property Solutions Inc.
RPS Real Property Solutions Inc. is a leading Canadian provider of outsourced real estate solutions including property valuations, data-driven risk management tools, market trending and insights and consulting services. RPS partners with financial institutions, mortgage professionals, real estate professionals, government agencies and economic research firms to help them make informed decisions with confidence. The company’s expertise has established RPS as the strategic partner for real solutions to real property challenges.
RPS is wholly owned by Brookfield Business Partners L.P. (TSX: BBU.UN, NYSE: BBU), a public company with majority ownership by Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM). For more information, please visit www.rpsrealsolutions.com.
About Offerland Technologies Inc.
Offerland is a real estate technology company on a mission to drive digital transformation in the real estate industry. Offerland’s solutions in advanced analytics and workflow automation are empowering the everyday decisions of financial institutions and real estate professionals. Offerland employs machine learning technolgy to analyze over 200 traditional and non-traditional data sources to deliver confidence and accuracy. Together with custom enterprise integrations, Offerland is helping its clients improve their current output. For more information, please visit www.offerland.ca.
PRODUCT DESCRIPTIONS
The RPS Market Rent Automation Valuation Model, powered by Offerland’s advanced machine learning technology, delivers the most significant time reduction and cost savings with instant, high quality valuations in urban and suburban areas compared to traditional market rent reports.
The RPS Market Rent Streamlined Process, delivered through Offerland’s technology by experienced, licensed appraisers leveraging Offerland’s extensive market rent data to populate reports with comparable properties, reduces the turnaround time down to 1-2 days without sacrificing the quality of the report. This is available as a standalone report and an add-on to a full appraisal.
FOR INQUIRIES
RPS Real Property Solutions
Media Contact
Laura Forester, Director, Marketing, (647) 204-5470, laura.forester@rpsrealsolutions.com
Sales Contact
Craig O’Brien, Senior Vice President, Business Development
416-312-0905, craig.obrien@rpsrealsolutions.com
Appraiser Contact
appraiserpartners@rpsrealsolutions.com
Offerland Technologies Inc
Media Contact
Roz Seyednejad, COO, Offerland
604-506-6617, roz@offerland.ca
Sales Contact
Hamidreza Etebarian, Co-founder and CEO, Offerland
(604) 837-7702, hamid@offerland.ca
Appraiser Contact