A Note from the CEO
Happy Spring to all !!
The first quarter of 2025 is behind us and it has been a very busy year thus far. The PropMix team has made some major strides as you will see in this newsletter. Let me take a minute to appreciate how hard this team works day in and out with our customers at the center of their focus. I am humbled and proud to be part of this team that continues to make a difference every day.
The housing industry is undergoing one of the major transformations in a very long time – the NAR settlement in 2024, the new UAD standards becoming a requirement in 2025 through 2026, the mortgage rates being where they are after a long period of low rates, economic and trade policies of the new administration, and then the 800 pound gorilla in the room that is AI.
We see it as: we are in an environment of immense opportunity to rethink and redesign our processes and technology for the future. We are fortunate to be part of this transformation and contribute to it for a better tomorrow.
Many of the activities in our company as you will see below have been geared towards leveraging these transformative times to improve the experience of every counterparty in the housing market.
I look forward to reporting many more successes in the coming months.
Umesh Harigopal
CEO
Seamless Data Integration & Enhanced Automation: New Updates to Streamline Your Workflow
The Unified Profet platform including three applications – Workflow, Valuation, and Review – is now live. Profet is the only platform in the market that combines order management, valuation,and review in a single seamless platform.
We strongly believe that customers should ultimately have the choice and control to make the decision to use a single platform or an integration of different products that they prefer. As a result, Profet is an open platform with APIs for all three applications to be integrated with other software vendors.
The integration across our 3 applications enables seamless workflows including order creation, automatic assignment to vendors, completion of assignment within Profet Valuation, submission back to the client, automated quality control scores for the appraisal, a deeper manual review, if required and finally online delivery of the valuation to the client.
The platform also includes comprehensive panel management capabilities to allow lenders and AMCs manage their appraiser or broker panels.
The Workflow platform supports custom workflows to implement a Lender’s or Customer’s specific business process.
Valuation – NextGen is Live! Experience the Future of Property Valuation Today
Profet Valuation application has undergone a complete revamp over the last year to position itself for:
- Extensive built-in use of generative AI
- Support of the UAD 3.6 standards
- Unlimited customization for specific valuation needs
The application is now live and we have been migrating existing customers to it and also all new customers are being onboarded into the new application.
The new platform lays a strong foundation for our objective of enabling Model Driven Valuations. Our goal is to help the appraisers stay focused on USPAP models and leave it to the platform to produce the form outputs needed.
Customizability
This new version has been built with customizability as a key design principle and not an after thought. Many private lending and alternate valuation customers often need branded valuation products and also have special requirements to be met for each of their clients. Profet Valuation can be easily customized to all such needs with a simple customization done within 48 hours or a fully branded valuation output delivered in 2 weeks.
AI-first design
The platform includes extensive AI capabilities already – ranging from data driven machine learning to computer vision. Similar to the mobile-first design thinking of the 2010s, we are adopting a new design process we call “AI-first”. AI-first is the principle of enabling the user with more assistive technologies driven by automation and intelligence to achieve hyper productivity.
Stay tuned for a many more AI features to be seamlessly integrated into the platform.
UAD 3.6
Our design approach to the new URAR form is based on our principle of customizability. Within Profet Valuation we treat the URAR is another output format to be produced from our core valuation models. This approach to valuation is a fundamentally unique approach that makes it very flexible to any future adaptations of the output format.
As a result while the URAR certainly represents a solid advancement of the information recorded for an appraisal, the core valuation concepts and models are not modified at all. We look forward to having full support for URAR in the coming months.
See what’s new in Prospektr
PropMix announces Prospektr Engage for Realtors and Loan Officers
PropMix has unveiled Prospektr Engage, a new edition of Prospektr.ai designed to help realtors and loan officers reconnect with past clients through a free home management platform. Homeowners can track home improvements, manage documents, and receive real-time property value insights, ensuring they stay engaged with their real estate professionals.
Powered by PropMix AI, Prospektr Engage automates client interactions with AI-driven insights and scheduled marketing campaigns. By offering a valuable tool instead of just promotional content, realtors and loan officers can strengthen client relationships and drive more business effortlessly.
Prospektr now also includes a home listing capabilities. Homeowners can now start listing their property for sale by working with their agent. These online capabilities to engage the homeowners and help them assess the value of their home and start the listing proceas helps agents capture listing leads and migrate their business from buy side to the sell side.
R3 AMC chooses Profet Edge Review to detect Bias and Compliance issues in appraisals
R3 AMC, a full service Appraisal Management Company (AMC) focused on helping lenders efficiently navigate the appraisal process, today announced a new appraisal compliance assurance service for lenders wherein every appraisal submitted to lenders is pre-screened for bias and compliance requirements from Fannie Mae and Freddie Mac – the GSEs. R3 AMC has automated this assurance service using PropMix’s Profet Review, an AI-driven valuation quality control platform that includes comparable analysis, natural language processing, and image analysis.
Data & API Enhancements
Rental AVM API
A new API is now available to retrieve the Rent Value and the associated rental comparables for any residential property in the US. Note that this API is for long term rent value and long term rental comparables. An short term rental equivalent of this is in the works and will be released in April 2025.
Image Analysis API
PropMix image analysis APIs have been improved extensively and now include numerous prioerty valuation related insights extracted from mage analysis. The previous versions of these APIs provided image labelling capabilities, but the new version includes feature extraction, peoperty condition assessment, quality of construction, and valuation related image compliance analysis.New Insights Launched
House Price Index (HPI) Forecasts
The House Price Index APIs have been very successful especially because of the new Fannie Mae requirement that sale date adjustments are now required with supporting information. We have now even introduced forecasting of HPI into the future. The forecasts are available for up to 18 months, beyond which we do not consider the forecast to be reliable given volatility of the markets.
Upgraded Rental Insights to include Rent per SqFt trends and Gross Rent Multiplier insights
Rent per SqFt is now available for all zip codes in the country. These trends are available for up to 60 months in the past to support long term rent valuations.The Gross Rent Multiplier (GRM) is the ratio of a property’s value or recent sale price to its monthly rent value. We compute GRM values for all zip codes to help appraisers with their income approach models in valuation.
Missed Our Webinar?
Catch the full recording of our March 14 webinar on AI-powered Appraisal Quality Control with Profet Review, featuring insights from industry leaders. Watch the webinar here
Proud to Sponsor and Attend ACTS 2025!
We were proud to sponsor and attend the 7th Annual Appraisers Conference & Trade Show (ACTS 2025), held in San Antonio, TX, from April 5–8.
It was an incredible experience connecting with appraisers, industry leaders, and technology innovators—coming together to drive the future of valuation forward.
A heartfelt thank you to the organizers and everyone who helped make ACTS 2025 a success. We’re energized by the conversations and collaborations—and excited for what’s next!
New MLS Markets Added
The following MLSs were added/renewed during the last three months, see the list of recently added MLSs below:
Disclaimer: All logos used in this representation are the property of the respective MLS
Press Releases
PropMix announces Prospektr Engage for Realtors and Loan Officers
Published on: Jan 22 , 2025
Latest Market Insights
Latest Market Insights PropMix covers the top 30 metro areas as part of market insights, and the data is updated monthly. Key statistics such as median sale price of Single Family Homes, sales volume, months of supply, and inventory for sale are covered for each metro. An overall comparison of these metros across each metric is also published each month.
