Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Call for 'Site Already Surveyed' Flag to Streamline New-Build Valuations

Helen Pierson, director of Mortgage Advice Bureau (MAB) New Homes, has highlighted the ongoing challenges faced by brokers, borrowers, and valuers in the new-build property sector. Pierson suggests that a simple digital flag indicating 'site already surveyed' on a valuer’s system could save significant time and effort for all parties involved.

Pierson notes that the current process of arranging valuations for new-build properties often involves brokers spending considerable time trying to connect with site offices and surveyors. This is made more difficult by the busy schedules of both parties and the fact that site offices are typically closed for two days each week. The process requires multiple calls to lenders to obtain valuer contact details, coordinating with site offices between their viewings and closures, and confirming that contact has been made.

According to Pierson, a more efficient approach would be to conduct a comprehensive assessment of a development’s current phase during the first surveyor visit. By adding a digital marker to the address record to indicate 'site already surveyed', subsequent valuations could rely on existing data, technical drawings, and site plans, reducing the need for repeated physical visits until a new phase begins or the initial valuation expires.

Pierson acknowledges ongoing innovation in the surveying sector, including the use of drones, secure data sharing, and AI tools for property image analysis. However, she emphasises that a straightforward solution such as a 'site already surveyed' flag could have an immediate impact on reducing delays and administrative workload for brokers and valuers alike.

This suggestion is particularly relevant for UK letting agents and inventory clerks who often coordinate with surveyors and site offices during the new-build process. Streamlining valuation procedures could help free up time for customer service and other essential tasks.