Welcome to INTERGEO TV, where we explore the forefront of geoinformation, geodesy, and land management. In this expert interview, Denise Wenzel speaks with Peter Ache, a renowned authority in real estate valuation and market observation. Discover the role of transparency in the real estate market and the impact of technological advancements like artificial intelligence.
Transparency in Real Estate Valuation
Transparency is crucial for a fair and democratic real estate market. Peter Ache explains that many online platforms offering quick real estate valuations lack true transparency. These platforms often use asking prices, not actual purchase prices, and their algorithms are undisclosed. Genuine transparency requires reliable data on actual transactions, not just estimates.
"Transparency is one of the main pillars of democracy. Without transparency in real estate markets, it's not truly democratic. Accurate data on actual transactions, not just estimates, is essential." – Peter Ache
The Role of Geodesists in Real Estate Valuation
Geodesists play a pivotal role in land and real estate valuation. They provide the geodata necessary for accurate property assessments. Ache emphasizes that property prices should be treated as geodata, integrating geographic and valuation data to enhance accuracy and reliability.
Artificial Intelligence in Real Estate Valuation
Artificial intelligence (AI) is transforming real estate valuation. Ache highlights that the effectiveness of AI in this field depends on the quality of the underlying data. High-quality data allows for accurate automated valuations and simulations of various market scenarios. Germany needs to improve its data standards to leverage AI effectively in real estate valuation.
The Future of Real Estate Transparency and Technology
Looking ahead, the integration of AI and comprehensive geo-databases will be crucial. Ache envisions a future where standardized, high-quality databases enable precise valuations and informed decision-making. He advocates for collaboration among geodesists and the creation of a central database to achieve this vision.
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