Big Data Assisting Appraisers
Big data comps sharing assisting appraisers…
I admit to having a dog in the fight. Maybe even a pony, camel, or even a pure bred Clydesdale horse…
On 10/09/2017, the owner of alamode software informed customers of a significant new change in how ‘comps’ can be added to a current report – which will be implemented sometime early next year. Read his message here.
This is significant because the ability of ‘Big Data’ is being put to work ASSISTING appraisers, rather than being withheld from us as is done with the GSE’s highly touted Collateral Underwriter – even though ‘we’ appraisers are the ones supplying that data.
This new process will utilize the huge data base of reports, and the comparable properties within them, that alamode processes through their servers daily, and feed comps data back to the appraiser within moments of entering the comps address into a report grid. (Yes, this will require an active connection to the web while doing the report.)
And by the way, as Mr. Biggers explains, this is not revealing any confidential info, so the USPAP police won’t need to drag out their handcuffs!
To learn more, click this link.
Comps sharing, fees, trainees, and AVMs
SmartExchange™… allows you to transparently share your comps grid data with your peers – and get access to theirs – in a way that’s so simple and quick that it’s actually hard to demonstrate. The best way to describe it is “typing magic”: You type an address in the grid exactly like you do now, and suddenly you see the rest of the grid for that comp filled out. Instantly.
How’s it all possible? Well, with so many appraisers out there using our software, and everyone typing in many comps per report, it means that nearly every recent property in your market has been entered into a grid by one or more appraisers before you got to it.
Obviously, you don’t get the benefits unless you sign up for SmartExchange. Like comps sharing systems that have existed locally for decades, you have to give in order to get. Unlike those older comps sharing systems however, once you sign up, there’s nothing else you have to do. It automatically contributes your comps to the local pool as you do your work, and you automatically see them auto-populate when any comp address you enter is already in the pool.