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Our Technology
Why hire a technically advanced
appraiser
The appraisal process is one that lends itself to
technology. And technology has paid significant
dividends to those appraisers who have invested in it.
These dividends are shared with the appraiser's
customers, in the form of shorter turn-around times and
a much better final valuation report. |
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Ordering
Millions of real estate transactions are processed each
year in the United States. Almost all of them require
some sort of appraisal. Technology has allowed savvy
appraisers to reduce the amount of work their client's
need to order, track and receive appraisals. In the
past, the primary mode of interaction between an
appraiser and his clients was the telephone and fax
machine. Clients would send requests via fax, and then
often follow it up with a phone call to make sure it was
received. Tracking the progress of the appraisal meant
more phone calls - a disruption for both the client and
the appraiser.
But the modern, technologically advanced appraiser has a
better method. Using tools like this web site - complete
with the ability to order appraisals on-line - allows
clients to shave valuable time off the process of
ordering and tracking appraisals. Technologies like a la
mode's net.X network are advancing this concept even
further, giving its users the ability to not only order
appraisals, but track their progress all the way until
delivery. No more annoying games of phone tag!
Data Gathering
The appraisal process is nothing if not a data intensive
process. Appraisers spend a lot of their time gathering
both specific information about the subject property and
general data about the local market and developing
trends. Once again, technology has stepped in to help
appraisers. In the past, the home inspection process has
been the time consuming and difficult. To top it off,
appraisers then had to come back to the office and
transcribe their field notes into the appraisal file
itself. No longer.
Today's digital appraiser has several tools that can aid
in gathering data in the field. Starting with tools like
a la mode's Pocket TOTAL, appraisers are eliminating the
duplicate data entry problems of the past. Tools like
the Leica Disto Laser meter are making the measurements
more accurate. And software like Apex's PocketApex
allows the appraiser to sketch the house on the fly. All
of this means that the appraiser can get the report done
and delivered to the client in a fraction of the time it
once took.
On the other side of the data gathering coin is the
general data. The Internet has revolutionized the
ability of appraisers to get quality data in a fraction
of the time it once took. Where once an appraiser would
spend hours finding the right location maps and then
rubbing on decals, the modern appraiser gets his maps
with a few mouse clicks, complete with location markers.
And flood maps? Likewise just a few clicks away using
services like a la mode's FloodSource. Standardized
addressing, accurate postal coding, census tract
information, are all at their fingertips. This ensures
that the final report is as complete and accurate as
possible, requiring fewer call-backs and revisions. A
real money saver for busy appraisal clients.
Report delivery
The report is done. Now how is the digital appraiser
going to leverage his investment in technology to
improve the delivery process? Modern appraisers have
forsaken the old print-and-snail mail route for a much
more efficient electronic delivery system. Utilizing
Adobe's Portable Document Format (PDF) files, an
appraiser can deliver a complete, multi-page report,
complete with digital photos and maps, through simple
e-mail. Now, instead of waiting for the daily mail, or
paying for expensive courier services, appraisal
customers can simply log into their company email system
and retrieve all the appraisals at one time. Without
wasting and paper printing the appraisal, it can be
routed to the appropriate loan officer or title company
in the blink of an electron.
More advanced organizations are leveraging a la mode's
net.X network to not only order appraisals, but also to
manage the delivery process. Before an appraisal is ever
delivered, this cutting edge technology reviews the
report and ensures that it meets certain guidelines.
Have enough comparables been used? Has the appraiser
included a statement of limiting conditions? These items
can be checked automatically and the appraiser notified
of the deficiency without the client ever getting
involved. Now, when the final report is received, the
client can be sure the appraisal meets all the basic
criteria. Once again, costly follow up and revisions are
avoided, lowering everybody's cost of doing business.
Digital Workfile
It would be wonderful if appraisers could complete a
report, deliver it and never worry about seeing that
document again. But one of the purposes of an appraisal
is as a legal document outlining the condition of the
property at the time of sale. So appraisers must keep
their reports for 5 years, allowing them to recall any
appraisal at any time to either defend the valuation or
to be used in other legal proceedings.
Here again, the digital appraiser leverages his
investment in technology to improve service. By storing
every aspect of the appraisal - notes, sketches,
supporting documentation and calculations - along with
the appraisal, the professional is able to retrieve that
report at any time within the five years and recall just
what that report was about. And this data is not stored
in boxes stacked 5 deep in some rented warehouse.
Instead, the digital appraiser uses technology like a la
mode's Digital Workfile to electronically include all
supporting documents as part of the appraisal file.
These files are stored securely on searchable media,
such as a la mode's Vault, where the appraiser can find
them in a fraction of the time required in the past.
This helps appraisal clients by giving them immediate,
virtual access to any appraisal they've ordered within
the past 5 years.
These are just a few examples of how technologically
advanced appraisers are improving the business workflows
of their customers. Investing in the right software,
services, gadgets and gizmos allows the appraiser to
deliver reports quicker, more efficiently and with
higher degrees of accuracy. All of which helps keep the
appraiser's costs down, and save his clients time and
money.
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