The Best Price: six years of confirmation

The Best Price: six years of confirmation

Great Estate Network May 11, 2023 No Comments

The extraordinary evolution of the system designed by Great Estate to compile the best evaluation of your property.

The evaluation system designed by Great Estate, developed in collaboration with three Italian Universities, helps compile the best evaluation of a prestigious property, thanks to the input of quantitative and qualitative data that are then compared, through innovative and tested algorithms, with similar properties in the same target area.

The volume of data processed by The Best Price grows over time thanks to the daily work of the professionals in the group, thus favouring the learning of the artificial intelligence behind the system and the continuous refinement of the results. The more the work of the professionals within the group increases through the acquisition, evaluation and buying and selling of prestige properties, the more data is provided to the system, which consequently becomes more and more efficient.

Analyses of the transactions of the group and comparisons with the values estimated by The Best Price are drawn up annually by Tullio Morandi, head of the evaluation department of Great Estate since 2020. This comparison is aimed at extrapolating a very important piece of data, the congruency percentage, which is the measure of how close the estimates of the system are to the winning value on the market, the one that corresponds to the successful purchase proposals. 

The study conducted over the five-year period 2016-2020 yielded an excellent result with an average congruity percentage of 94.7%. To find out all the details of this study, we invite you to read our dedicated article.

This figure is further improved in 2022, reaching an average congruity of 97.9%.

In addition to this powerful tool, uniquely calibrated to the specific niche market of prestige properties, Great Estate offers the experience and professionalism of a dedicated evaluation department made up of qualified technicians such as engineers and architects, who are able to completely compile or improve the result of each evaluation.

Partners, owners and buyers therefore have the possibility of obtaining estimations whose accuracy can vary according to the service chosen, from the simplest, immediate and automated one, to the most thorough one that combines the use of The Best Price with specialised consultancy.

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