These are some of the frequently asked questions we get. Still have an unanswered question, please contact ushereand we will get back to you asap.
1. Where are your sales listings from?
Our listings are only published from real estate brokerage firms that are registered with Dubai’s Real Estate Regulatory Authority (RERA). Each listing shows (1) the broker’s firm RERA registration number, (2) the RERA registration number of the agent handling the listing from the broker’s firm, and (3) the permit number issued by RERA approving the advertisement of that particular listing in the media.
2. Where do you get your data from?
There are multiple sources of data, including but not limited to; Dubai Land Department (DLD), Dubai Statistics Centre (DSC), Makani, UAE’s Federal Competitiveness and Statistics Centre (FCSC), Open Street Map (OSM), Google, publicly available records and properties listed on our marketplace etc. All our data is publicly available but we spend the time sourcing, collating, sorting, connecting the data and applying our technology solutions to analyze and generate actionable insights for you.
3. How often do you update your data?
Our data is constantly being updated and it keeps growing by the day. The frequency of updates depends largely on the nature of the data being collected, which can be on a daily, weekly, monthly or quarterly basis. For example, real estate transaction data is updated on a weekly basis in line with Dubai Land Department (DLD) , whereas macroeconomic indicator data such as interest rates, inflation etc. is updated on a quarterly basis.
4. How are your listings sorted?
Listings are displayed based on the user’s selected filter criteria which could be based on unit characteristics (such as unit type and number of rooms) or investment return targets (such as yield, return on investment or net profit). Therefore, there are no biases in how we display the listings as we do not charge premiums to display listings on first page or on top of search results. Listings will only be displayed in accordance with the user’s chosen sorting criteria.
5. What listings are included?
All our listings are for residential properties in Dubai for the time being, however, we are constantly improving our algorithm to include properties in other Emirates as well as other property types.
6. How accurate are the Automated Valuation Model (AVM) estimations?
Accuracy of any Automated Valuation Model (AVM) estimation is dependent on the data points used, data quantity / quality and the machine learning algorithm being used. The more available the relevant data about the unit being estimated, the more accurate the estimate will be. We have taken a transparent approach to clearly identify this for each result on our platform by showing the confidence level for each estimation.
7. Can the AVM estimates be updated?
Yes. The AVM estimates are updated constantly whenever new data becomes available.
It is important to note that AVM estimates cannot be manually changed or updated by humans as these are only generated automatically by the algorithm.
8. Why is there no AVM estimates for certain properties?
In some cases, the AVM algorithm may not have enough information to accurately calculate an estimation due to several factors, for instance the property is new or has no similar comparable properties or has little or no historical transaction data available. In these cases, we do not publish the AVM estimate until more data is obtained to have a more accurate estimate.
Our algorithm can find neighborhoods or areas similar to that property to enable it to extrapolate a market estimate for such property.
9. What is the difference between real estate appraisal or valuation and AVM estimation?
As the name suggests, an AVM estimation is an estimation and can only provide an estimate of value based on available data, but will provide results in a much faster and cheaper way in comparison to traditional appraisals or valuation methods. Appraisals or valuations on the other hand are much more expensive and slower than AVM estimates as they require physical inspection and considers things like noise pollution, bathroom remodeling, messy neighborhood etc. That said, an AVM estimates are used as a prequalifier that will assist any user, be it an investor, broker, or a lender, in understanding the value of a property relative to the market data prior to moving further in their process saving them time and money.
10. Does the AVM estimation algorithm change?
Yes, VettedProperty research and development team work continuously to improve the algorithm and will release new updates periodically to ensure more accuracy of the estimates.
11. Why do you only have residential listings?
Accuracy of AVM estimates rely highly on data volumes and this is the case for residential properties. Furthermore, our research suggests that the majority of investors in the real estate market are targeting residential properties.
12. As a real estate agency, what can the AVM estimate do for me?
AVM estimate is an estimate of the value of a property and can be used as a starting point by real estate professionals, to help guide their customers who are sellers make a more informed financial decision when listing their properties. Moreover,they can also help potential customers who are buyers, understand what causes the estimated value of a property to be at a certain price range.
13. Why are some AVM estimates different than the listing price?
VettedProperty AVM estimates was designed to give users as much information about a property by presenting all the data in a user-friendly interface to ensure a transparent real estate market and serve purely as an indicator to this market.
14. Why can't I access some features?
If you're unable to access certain features on the platform then either;
15. If I do not register or decide not to upgrade after the end of my free trial, can I still use the platform?
All unregistered users or registered users with expired free trial can use the website. However, for sales listings, some data will be hidden and or unavailable, eg. AVM, investment analysis.
For rental listings, all features and data is available even for unregistered users.
16. What happens at the end of the free trial?
You will be reminded to upgrade to one of the existing plans.
17. Can I upgrade/downgrade my subscription?
Yes, you can at any time by visiting the pricing page and selecting a new plan. Your old plan will expire once you upgrade/downgrade and the new plan will commence on the day of the upgrade/downgrade.
Please be aware that you will still be charged for the current billing period of the old subscription.
18. Can I cancel my subscription?
Yes, you can cancel your subscription at any time and will only be charged for the current billing period. If you cancel your subscription with time left in your billing period, you will be able to continue using your account until the end of the period upon which the account cancels automatically.
19. Can I save my listings?
Yes, as an investor with a registered account, you can save your listings in your dashboard.