The NXT studio, where users can view properties that match their needs, take virtual tours and access relevant data

A guide to JLL’s tech tools

28 Mar 2022, 16:37  | 

Karl Tomusk

Following the launch of Valorem, JLL’s valuations tool built to help clients better understand asset risks and opportunities, PlaceTech looks at the firm’s growing suite of products.

Incorporating JLL’s global property valuation data, Valorem was created to give clients the information they need to make better decisions about their portfolios.

The tool aims to give clients a single platform for organising and managing their portfolio, property and valuation data.

Investors using the platform can monitor and report on market movements in their portfolios. Meanwhile, lenders are able to quickly assess their underwriting position to better understand opportunities and risks.

Valorem’s launch comes months after JLL announced the NXT i-Log, a tool for the industrial sector that gives investors access to a list of assets that suit their specific needs alongside contextual data, such as demographics, natural risks and market indicators.

Alongside its data management features, Valorem also includes:

• The ability to work collaboratively and share information between team members
• Portfolio tracking
• Interactive risk assessment features

JLL said that speeding up the loan underwriting process has increased in importance to its clients.

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JLL Technologies’ products

Corrigo

Sector | Building operations

What it does | Corrigo is a computerised maintenance management system (CMMS) that aggregates a user’s operations, asset/work order management, maintenance and analytics in one place.

Benefits | Work automation, real-time data analytics, reporting tools for compliance

Product type | Developed in-house

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Jet

Sector | Office management

What it does | From access control, to desk booking, to communication tools, Jet is a workplace mobile app that aims to personalise employee experience in hybrid working environments.

Benefits | Streamlined tenant experience in an all-in-one app

Product type | Developed in-house

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Marketplace

Sector | Facilities

What it does | JLL Marketplace is an e-commerce platform that helps users find and buy the products needed to keep buildings running efficiently and effectively.

Benefits | Average savings of 18% per order, real-time reporting and analytics into buying habits and budgets

Product type | Developed in-house

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Building Engines

Sector | Building operations

What it does | Building Engines is a single tool for carrying out any number of tasks, such as inspections, HVAC management, reporting incidents and visitor access.

Benefits | Unites all tech used to run buildings in one place, reduces operating costs

Product type | Acquisition

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Skyline AI

Sector | Real estate data

What it does | Crunches reams of industry data from various sources to help predict future property values and identify investment opportunities

Benefits | Faster decision-making, better market understanding

Product type | Acquisition

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Hank

Sector | Building operations

What it does | Hank automates HVAC, lighting and security in a building to cut energy use and make spaces healthier and more comfortable.

Benefits | Improved air quality, savings through automation, integrations with other platforms

Product type | Acquisition

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Alongside these products, JLL Spark, the company’s VC arm, has invested in a number of startups, including Saltmine, VergeSense, HqO, Turntide Technologies and OpenSpace.

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Real-time valuations

The latest product, Valorem, introduces an automated valuation model (AVM) for the multi-housing rental market, tracking real-time rental values.

The tool – built on statistical models, valuations and JLL’s database – quickly calculates an apartment’s rental value at a specific point in time by analysing comparable transactions, current asking prices, historical price movements and property attributes.

Mark Wynne-Smith, CEO of valuations at JLL UK, said: “With the assistance of Valorem and AVMs, users can instantly assess opportunity and risk through a platform that centrally manages all global valuation property data over time – and so provides a reliable benchmark.”