“Wüstenrot Immowert” is digitizing property surveys
22. February 2016
W&W Digital GmbH strikes again! After the successful launch of the “Wüstenrot Wunschmieter” service to find “dream tenants” at the end of 2015, W&W Digital GmbH is already launching its second digital business model in the proptech sector, in the form of the “Wüstenrot Immowert” service. Customers can use the online platform to quickly find out the value of their property in a way that is tailored to their requirements. This establishes transparency and security in the face of rising property prices.
Germany is currently undergoing a substantial property boom. This is because, in this period of minimal interest rates and fluctuating stock markets, real estate still offers the prospect of a long-term, secure investment. Yet the high level of demand is constantly putting upward pressure on prices. In 2015 alone, property prices increased by five percent. In large cities such as Munich, Hamburg and Berlin, prices increased by as much as ten percent or more. For this reason, many people interested in buying or selling properties will be asking: What is this property really worth?
The Wüstenrot Immowert platform now provides owners and buyers with a range of services for valuing their properties. In contrast to other providers, the value that is communicated is based on the actual sale prices rather than on the prices offered. The Wüstenrot Immowert platform also informs the customer of the material value of the building. This means that the user receives information about the influence exerted on the price by certain factors such as the fabric of the building, the location, and the surroundings. For as little as 29 euros, it is possible to receive an immediate appraisal via a database query. Those wanting a more detailed appraisal can choose the “Kompakt” service. This is a digitized version of a paper-based appraisal. For this service, the customer enters data about the property and uploads photos of the property and floorplans. An independent expert then informs the customer of the market value within 48 hours. A third service model is also offered in the form of a survey for legal purposes, which involves an on-site valuation of the property.
The Wüstenrot Immowert platform is therefore able to fulfil the very wide range of user demands and information requirements. What’s more, the Immowert platform is significantly cheaper and faster than standard appraisals. At the same time, what the online platform provides is a professional appraisal from independent property experts – along with a transparent pricing model. To provide this service, “Wüstenrot Immowert” partners with Sprengnetter GmbH, a full-service provider in the property valuation sector, as well as with other property surveyors.
Carolin Kröger, Managing Director at W&W Digital GmbH, explains: “Owners and potential buyers are often very uncertain about how much their house or flat is really worth. Yet commissioning an external provider to undertake a survey is often very time-consuming and expensive. “Wüstenrot Immowert” brings together a digital service and a network of independent experts. This allows us to offer a tailored solution for every user – and it’s quick and easy, too.”
W&W Digital GmbH was founded in November 2015 as a joint venture between etventure and the financial service provider Wüstenrot & Württembergische. The first digital business model, Wüstenrot Wunschmieter, had already been launched by the end of 2015. This service undertakes the advertising of properties on large property portals, the application process for potential tenants, and the recommendation of “dream tenants” – all of which is digitized as much as possible and is offered as a basic package.