BOOM!, THE development marketplace, has launched its new cloud-based SaaS development appraisal, offer and funding submission tool - BOOM! Appraisal.
The new tool – known as ‘Appraisal’ - serves a wide variety of purposes, all designed to make the land buying and selling process more efficient and transparent for BOOM! customers. Its capabilities include initial site appraisal plus the ability to create detailed collaborative budgets that can incorporate feedback from multiple parties, including colleagues, trade contractors and consultants to the architectural, engineering and construction (AEC) supply chain. Appraisal will also serve as a powerful educational tool for the costs and risks associated with the development of a site and the associated residual land value a developer can reasonably pay. In the short term Appraisal will also form the basis of development funding applications into BOOM!’s soon-to-be-launched capital advisory partnership.
Speaking about Appraisal, BOOM! co-founder and CEO Simon Skoczek, said: “We have spent a lot of time developing this multi-functional tool and Jony, our CTO, has done an incredible job in ensuring it is guided by the Royal Institute of Chartered Surveyors’ ( RICS)New Rules of Measurement (NRM) 1.
“We’re particularly excited about the collaborative capacity of Appraisal and how the functionalities we’ve incorporated allow users to engage with the market through it. We’re also confident that Appraisal will ensure landowners significantly benefit from being able to draw meta data from multiple submissions - a market-leading approach that will help enlighten them on land value and specific costs.”
With technology underpinning BOOM!’S commitment to connect land with developers, Appraisal may only just have launched but the team is already planning Appraisal V2.0. To quote their recently-appointed CCO, Jason Hawthorne: “Software is always in Beta version - it is always evolving.”
BOOM! Appraisal V2.0 will incorporate user feedback and evolving market requirements; it will further embed the recentlyupdated Development Profile through a capacity to assign costs to a particular sub-category of the landowner’s four capital stack (aspects of the Development Profile) and further integrate AEC contractors, consultants and the supply chain.