onOffice Services – PriceHubble Valuation Service

Introduction

The PriceHubble Valuation Service is a new service in the onOffice Marketplace that seamlessly integrates PriceHubble pricing into onOffice. This means that you automatically receive a property valuation in the background when you create or update a property – without any additional user interface or manual steps. PriceHubble provides you with an estimated market value of your property as well as a price range and an assessment of the accuracy of the estimate. The results are displayed directly in the property data record so that you can see them immediately. Please note: The service only covers residential properties (e.g. apartments, detached, semi-detached, terraced and multi-family houses). Commercial and special-purpose properties are not valued. In addition, only properties in Germany, Austria or Switzerland can be valued automatically.

Activation of the service

To use the service, you must first activate it in the onOffice marketplace
. Search for “PriceHubble Valuation Service” in the Marketplace overview and activate it for your client. After successful activation, the service is available and can be used directly by all users of your onOffice client. A separate setup in the user interface is not required; the service runs automatically in the background.

Prerequisites for automatic valuation

The valuation is carried out automatically each time a property is saved, provided the
following conditions are met:

• Full address in DE/AT/CH: Street, house number, postal code, city and country must be filled in. If the address is incomplete, no rating will be given.
• Permitted property type: Only residential properties are valued. Commercial and special properties are excluded.
• Property types two-family house and multi-family house – it is imperative that the number of residential units is at least 2. This field is normally only visible for properties with the usage type Investment . Simply remove the field filter in the administration to display this field for all usage types if required. 
• Annual rent (target) for apartment buildings. If this field is not visible in your software, remove the field filter in the administration to display the field permanently.
• Living space in the valid area: For apartments and single-family and similar houses at least 10 m², for multi-family houses at least 20 m².
• Plot area for houses: For detached, semi-detached and terraced houses
  between 50 m² and 5,000 m².
• Year of construction: Must be between 1850 and the current year. If the year of construction is missing or outside this range, no rating is given.

Tip: Make sure that all required fields are filled in before you
save theproperty. If mandatory information is missing, the evaluation is not triggered – without an error message.

Data transmitted to PriceHubble

The following data is transmitted (if available):

• Location data: Address, geocoordinates if applicable
• Object typing: Type and nature of the property, marketing method
• Areas & year of construction: Living space, plot area, year of construction
• Equipment: Number of rooms, bathrooms, floor, number of floors, elevator, parking spaces, pool, sauna, etc.
• Condition & Energy: Condition, year of last renovation, energy efficiency class, heating type.
• Rental income (for MFH): Number of residential units and annual rent (target).

Display of the evaluation results in onOffice

After a successful evaluation, the following fields are filled in automatically:

• Estimated market value (PH)
• PriceHubble-Min/Max – lower/upper limit of the price range
• Confidence rating: “low”, “medium” or “high”

The values appear in your onOffice client as soon as they are available. Previous values are overwritten. A history is not kept.

If the property is marketed as a rental, the expected monthly rent is calculated for the estimated market value.

Error messages & causes

It may happen that no evaluation is carried out. Reasons can be:

• Incomplete or invalid data (e.g. missing address or living space)
• Property type multi-family house – has the mandatory consequence that the field Number of residential units (Category: Area) must be filled. If this field is not filled in, dozens of error mails are imminent.
• Unsupported property type or location
• Address outside the assessment area
• Technical problems (e.g. API connection)
• For apartments, the “Number of floors” field (tab: Details, Category: Equipment) and the “Floor” field (Basic data – Geographical information) must also be less than or equal to the number of floors.

In such cases, you will receive an email from noreply@onoffice-services.com with
with information about the cause.