Are you making the most out of your appraisal operation? If you aren’t keeping your business up-to-date with current tools, you could be costing yourself time and money.
The appraisal industry is smaller than it used to be. Lower appraiser numbers could mean better business for everyone, but only those who can keep up with the higher workload will earn more without burning out entirely. To some, this may seem impossible. How on earth can an appraiser run a successful company without putting in 60 hours a week? The answer is simple: they get their work done faster and take home more money by using the right tools.
That’s right — not unlike most other fields of work, technology is good for commercial appraisers! When implemented correctly, technology can help organize and automate a substantial portion of the appraisal process, allowing you to turn in more accurate work in less time. This is only possible, however, when you adopt the right tools and learn to use them properly.
Here are just a few useful appraisal technologies out there today.
Tablets are the perfect devices to bring to on-site inspections. More tactile than a laptop but larger than a smartphone, a tablet is a technological Swiss army knife; packed with all the applications you need to run a successful inspection. You can use a tablet to connect to your cloud-based services, fill in spreadsheet data, type or dictate notes, and even take some pictures if need be. Tablets are generally simple to use, but if you need a tutorial, you can always find one online.
Although we would like them to be readily available, official floor plans aren’t always provided. When that happens, it’s time to break out the measuring tape. Next time, leave the measuring tape behind and use 3D measuring software instead. With apps like MagicPlan , you can scan an entire room in only 30 seconds and create full workable floor plans. You will save loads of time and effort during your next inspection. First-time users can learn all about using the app on the MagicPlan tutorial page.
Office Office suite applications like Word and Excel are the bread and butter of appraisal tools. These applications have been around for decades — but how much do you really know about these Microsoft services? Excel is highly versatile and allows ample space for customization, making it the ideal software for creating appraisal worksheets. However, many useful features tend to go unused, as most of us only know enough about using these programs to get by. Brush up on your Microsoft suite skills with a few training tutorials. Microsoft’s services update continuously, so you might run into new features and tricks that could save you time.
There are several platforms available to appraisers, but they aren’t all equal. Some services lean hard into automated valuation models , which, though speedy, don’t measure up to human experience. Other services provide tools with very little guidance, making the appraisal process no less straightforward.
With Valcre, appraisers get the best of both worlds. Valcre is a cloud-based platform that helps appraisers through every step of the process, from client tracking to creating reports. For a monthly subscription, Valcre automates monotonous tasks and provides customizable templates, a complete comps database, and dependable security.
These are only four examples of the many available tech tools you could implement in your appraisal business. A little research will tell you that pricing varies significantly across different technologies and service providers. Though it can be tempting for business owners to opt for low-cost or free tools to cut down on expenses, it’s crucial to invest in the tools that will optimize your workflow most effectively. These tools are an investment, but the time they save will guarantee you an incredible ROI.