Estate Master Software

Estate Master Software
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Estate Master Software
The emergence of property management software has been instrumental in the development of more advanced approaches to estate valuation but also presents various challenges associated with computer-generated valuation models and spreadsheets. An example is Estate Master, a software that was developed by property professionals to provide a flexible and user-friendly interface for property management. This paper is a discussion of the advantages and disadvantages of computer-generated valuation models and spreadsheets such as Estate Master.

There are various advantages associated with valuation models and spreadsheets that are computer generated including speed, accuracy, cost efficiency, higher performance capacity and elimination of human bias and possible fraud. Computer-generated models are faster than humans and are therefore likely to perform valuations faster, hence saving time (Downson & Robson, 2007). Regarding accuracy, computer-generated models are highly precise, and this eliminates the possibility of human error (Mitropoulos, Wu & Kohansky, 2007). Due to automation, computer-generated models provide cost efficiency through reducing costs, time and effort (REINSW, 2018). Valuation software can accommodate a considerable amount of data compared to human brains. This also includes complex equations and processes, making it easier to do valuations and hence promote decision m…