Westmarq has marked the launch of its new brand with an event at London’s Sky Garden, bringing together industry stakeholders to discuss the future of property valuation and the opportunities ahead for the business.
The event, hosted by Westmarq following its recent rebrand and change in ownership, brought together the company's leadership team and industry stakeholders to explore how technology, data and professional expertise are changing the valuation market.
Richard Sexton, managing director at Westmarq, said: “We’ve got a duopoly in the market, but this stifles innovation. We’re not in that space. We offer something else.
“The change in ownership means we can now look at the business differently. Previously, the business was seen as non-core and, as a result, we were effectively treading water. That’s changed. We have the ownership, management focus and investment behind us to build the business we want to build.
“The rebrand is an important part of that. Westmarq gives us an identity that reflects the business we are becoming and the proposition we want to take to lenders.”
The new Westmarq identity reflects the business's ambition to operate as an independent surveying partner, combining professional expertise, technology and data to help lenders make smarter, faster and more confident lending decisions.
The event also explored what Westmarq wants to retain as it grows, with chief operating officer Jamie Elliot highlighting the importance of remaining nimble and avoiding a one-size-fits-all approach.
Jamie Elliot, chief operating officer at Westmarq, said: “We want to stay nimble and innovative. There shouldn’t be a one-size-fits-all approach because lenders have different requirements and different risk appetites.
“We’re here to facilitate lenders. We want to build the technology and capability that allows us to respond to what they need, without becoming overly corporate in the process. We don’t want to lose that flexibility as we grow.”
Technology will play a central role in Westmarq’s next phase, with the business continuing to develop its use of data, automation and machine learning to improve the efficiency of the valuation process while retaining professional judgement where it is needed.
Westmarq has been developing and delivering Desktop Valuations since 2017, alongside automated and physical valuation routes. Its Property Decision Engine uses property and risk data to determine the most appropriate approach for each case, helping to ensure straightforward properties can be assessed efficiently while more complex cases receive greater professional oversight.
Jamie Elliot said: “Success for us is about getting the most out of the technology and infrastructure we have, while continuing to provide the quality and professional expertise that lenders need.
“Technology should make the valuation process more intelligent and efficient. It shouldn’t mean applying the same approach to every property. The value comes from knowing where technology can do the job and where you need experienced professional judgement.”
For strategic relationships director Paula Matthews, the ambition can be summed up in one word: “Partnership”.
Paula Matthews, strategic relationships director, said: “If there’s one word, I’d want lenders to associate with Westmarq, it’s partnership.
“We don’t want to be a supplier that simply receives an instruction and sends a valuation back. We want to understand what lenders are trying to achieve, work with them on their requirements and build relationships that allow us to develop the service around them.”
The rebrand represents more than a change of name, with new ownership, a reconfigured management team and investment in technology and infrastructure supporting Westmarq’s ambition to become an independent challenger in the valuation market.
