FoxyAI and LOOM partner to revolutionize property valuations in South Africa, leveraging AI to improve accuracy and efficiency.
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| South Africa's real estate industry is set to benefit from AI-powered property valuations, thanks to the partnership between FoxyAI and LOOM. Image: Jacqueline Silva |
New York, NY, USA --- November 21, 2024:
In a groundbreaking move to modernize the South African real estate industry, FoxyAI, a leading PropTech innovator, and LOOM Property Insights, a prominent provider of real-time property data, have announced a strategic partnership. This collaboration aims to significantly enhance property valuation accuracy and efficiency across the country.
By integrating FoxyAI's advanced AI-driven property intelligence technology into LOOM's valuation process, the partnership will revolutionize the traditional, time-consuming methods of property valuation. The AI-powered system will analyze vast amounts of data, including historical property records, current market trends, and satellite imagery, to provide more accurate and reliable valuations.
FoxyAI's technology will enable LOOM to identify intricate property details and market nuances that may be overlooked by human appraisers, resulting in more precise valuations.
The AI-powered system will streamline the valuation process, reducing turnaround times from weeks to days. This will benefit both lenders and borrowers, accelerating the home buying and refinancing processes.
By leveraging AI, the partnership will establish a standardized approach to property valuation, ensuring consistent and reliable results across different regions and property types.
The integration of AI will provide valuable data-driven insights into market trends, property performance, and risk assessment, empowering real estate professionals to make informed decisions.
This partnership marks a significant milestone for both FoxyAI and LOOM. By entering the South African market, FoxyAI demonstrates the global applicability of its AI-powered solutions. The collaboration with LOOM, a leading player in the South African real estate industry, will accelerate the adoption of AI-driven technologies and shape the future of property valuations in the region.
“We are excited to partner with LOOM to bring our innovative technology to the South African market,” said Vin Vomero, CEO of FoxyAI. “By leveraging AI, we can help transform the real estate industry, making property valuations faster, more accurate, and more reliable.”
Jacques Rossouw, CEO of LOOM, added, “This partnership is a game-changer for the South African real estate market. By integrating FoxyAI’s technology into our valuation process, we can deliver superior value to our clients, including banks, real estate agents, and property owners.”