Our Technology

Appraisers are, by far, the most technical agents in the real estate world. By necessity, they have been drawn into the digital world at a pace not seen by most in the real estate industry. The appraisal process is one that lends itself to technology. The technological advances in the industry are shared with the appraiser’s customers, in the form of shorter turn-around times and a much better final valuation report.

Ordering

Let us start at the beginning. 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 appraisers to reduce the workload of their clients in ordering, tracking and receiving appraisals. In the past, clients would send requests via fax, and then follow-up with a phone call to ensure the order was received. Tracking the progress of the appraisal meant numerous phone calls.

But the modern, technologically advanced appraiser has a much better method. Using tools like this website – 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 e-trac are advancing this concept even further, giving its users the ability not only to order appraisals, but track their progress all the way to delivery.

Data Gathering

The appraisal process is a data-intensive process. Appraisers spend tremendous time gathering both specific information about the subject property and general data about the local market and developing trends.

Today’s digital appraiser has several tools that can aid in gathering data in the office and the field. Starting with tools like Pocket Zoo, 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 allow the appraiser to sketch the home with greater detail. 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.

In addition to property specific data is the general data about the immediate neighborhood and market area. 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 ACI’s Flood Insight. Standardized addressing, accurate postal coding, and census tract information are all at their fingertips. This ensures that the final report is as complete and accurate as possible.

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 slow mail route for a much more efficient electronic delivery system. Utilizing Adobe’s Portable Document Format (PDF) files, an appraiser can deliver a 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 overnight mail and courier services, appraisal customers can simply log into their company email system and retrieve all the appraisals at one time.