What Are The Benefits Of Appraisal Technology?

May 23, 2024 | Published by Leave your thoughts

Technology has revolutionized the appraisal industry. Tools have changed the landscape of the appraisal process. The right appraisal technology saves time and make the process more efficient.

Technology can help in a variety of ways. For example, the appraisal process involves an examination of public records. Appraisers used to go to courthouses or mayor’s offices to obtain tax records pertinent the property. This would take a long time. Now, using laptops and smart phones, appraisers can access data at the speed of a click.

There are other ways technology has helped the appraisal process. Here are a few more examples:

Mapping For Comparables 

Appraisers often map the location of properties. This ensures that comparables give an accurate reading of property locations. Appraisers used to use paper maps and pins, now they use Google Maps and apps to make mapping locations and understanding neighborhood lines better.

Sketching Property

Appraisers sketch the properties they visit to showcase numbers that reflect the measurements and other details of the home such as bedrooms and bathrooms. Now, appraisers can enter that data into a smart phone app and even indicate the direction of the sketch line digitally. This eliminates paper sketches and saves time when recreating the appraisal report at a later date.

Delivery of the Appraisal Report

Appraisal clients used to have to wait weeks to receive their appraisal reports to come through the mail. Now, reports can be ordered and received all through an appraiser’s website. Email adds in the quick, real-time communications between an appraiser and the client to showcase the progress of an appraisal report. Appraisers can also share their completed work directly with the client by saving it to a digital file that a client may access. This eliminates any possible loss of paperwork.

What Apps Are Appraisers Using?

An app that some real estate appraisers use is called the UAD Reference App. It is available for Android, iPhone and iPad. This app is just one of many designed to make the appraisal business more efficient.

For example, this app can utilize crucial new data on the go and b an educational tool for clients as to how an appraiser prepares the report.

Overall, technology is a beneficial thing for the modern appraiser.

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This post was written by Joseph Castaneda

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