What does Evra by Geophy do?

What is Evra?

Evra is an AI-powered valuation platform designed for the commercial real estate (CRE) sector. It is used by real estate professionals such as investors, lenders, and researchers to assess the value of multifamily properties. It was developed by Geophy prior to its acquisition by Walker & Dunlop in 2022, and provides an alternative to traditional appraisal methods. Some of the capabilities of Evra are also used in the Apprise platform, developed as a joint venture by Geophy and Walker & Dunlop to accelerate the appraisal process for multifamily properties.

What Does Evra Do?

Some of Evra's features include:

  1. Automated Valuation Model (AVM): Evra's AVM is a core component, generating value estimates for multifamily properties across the U.S. This model is developed using property transaction and income datasets, along with unconventional data sources that capture aspects like quality of life and safety.
  2. Data-Driven Insights: Evra offers comprehensive data and insights to understand the attractiveness, health, and risk associated with a property, its tenants, and the surrounding area. This includes granular data at the property level as well as broader context at metro, submarket, and neighborhood levels.
  3. Advanced Analytics for CRE Professionals: The platform assists in various stages of real estate handling, from sourcing and screening to underwriting CRE assets. It continuously pre-underwrites all U.S. CRE properties, identifying attractive opportunities and assisting in efficient deal origination.
  4. Integration and Efficiency: Evra integrates with existing workflows, making underwriting faster and more efficient through a micro-applications approach. It is designed to save time, reduce costs, and enable more informed decision-making in the CRE sector.
  5. Hyperlocal Data Utilization: The platform uses data to identify global patterns, then refines the analysis with hyperlocal data specific to a property. This includes insights into property and income, market, and location characteristics that influence property value and performance.

Evra by GeoPhy is used for commercial real estate valuation, leveraging machine learning algorithms and a comprehensive data approach to deliver more accurate and transparent property valuations.

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