Webinar Tomorrow | The next-generation of appraisal software is here: To build, buy or partner?

Join us for a free webinar, The next-generation of appraisal software is here: To build, buy or partner?, tomorrow at 11:30AM Central / 12:30PM Eastern.

Appraisal technology has advanced rapidly over the last decade – making software a must-have for appraisal teams when it comes to their ability to serve clients, run a business, and retain talent.

Thanks to these advances, today’s appraisal teams have choices that were never on the table before – both in terms of power and price-point. Technology strategy is front and center, and many teams are grappling with deciding whether to buy off the shelf from a third-party provider, build internally, or partner with a vendor to complement existing proprietary systems.

In this webinar, Valcre CEO and co-founder, Lucas Rotter will sit down with veteran appraiser, Arthur Schwertz, MAI, ASA, Senior Managing Director at Mosaic Property Valuations to discuss each approach, and where it most applies. Both Lucas and Arthur are intimately familiar with all approaches, having both been involved in the process of evaluating and developing new systems.

We’ll be covering:

• Where are we today with appraisal technology – what’s possible, even compared with just 3 – 5 years ago?
• Key considerations to take into account when exploring your own technology strategy
• Different scenarios where it makes sense to build internally or partner with a software provider

 

Plus, check out our interview below with webinar hosts Lucas Rotter and Arthur Schwertz, MAI, ASA.

Appraisal Buzz: What is your background in the industry?

Lucas Rotter: I started my career in 2008 at Colliers where I found the process of writing appraisals to be incredibly inefficient. This led me to build my own technology that helped my team and I leverage our time better by automating repetitive tasks. My productivity level propelled me into working full time on the in-house technology side at Colliers, where I helped architect and build the Colliers Valuation and Advisory Services technology valuation platform from the ground up.

In 2016, I took the leap and started Valcre with my co-founders because we could see that appraisers across the profession were not equipped with the right tools, resulting in a lengthy, error-prone appraisal process. We wanted to help appraisers by giving them access to a better, more advanced toolset.

Arthur Schwertz: I have over 3 decades of commercial appraisal experience and have performed appraisals of properties from Florida to California, Connecticut to Washington State and many places in between while still staying firmly rooted in New Orleans. In addition, I have helped build a National Appraisal Firm from the ground-up and served on the Board of Directors for five years.

Appraisal Buzz: Why is it so important to keep up with technology advances in the appraisal industry today?

Lucas Rotter: To be competitive, today’s appraisal firms need to deliver on the increasing expectations of clients to deliver higher quality appraisal reports, faster. Excitingly, technology is advancing rapidly with innovation like AI offering new ways for appraisal firms to evolve their own offering and drive even more value for customers. However, to be able to take advantage of these innovations, appraisal teams first need to have mechanisms in place so appraisers can structure their data in a way that is accessible and usable. For many firms, this is not the case today, and it will hold them back in the long run as technology continues to take off.

Arthur Schwertz: Technological advances in the appraisal industry are occurring at an ever increasing rate. If an appraiser does not stay abreast of the developments he will be left in dust.

Appraisal Buzz: What are the most common misconceptions about appraisal software/technology?

Lucas Rotter: There is a common misconception that appraisers are reluctant users of technology, when in fact, this often comes about as a result of their needs not being met. Why? Every appraiser has a unique way of delivering their appraisals that distinguishes them from competitors. This might be the way their reports look and read, or the way they conduct their analysis. It’s not that they don’t love and want to use technology – companies just need to ensure their technology tools have been scoped to accurately include and address these use cases appropriately.

Arthur Schwertz: The most common misconception is that it is always better to own your software than to “lease” it. While this may have been true 10 or 20 years ago, it is much more cost effective to purchase a software subscription on an annual basis. This saves you from having to invest in overhauling the software every three years.

Appraisal Buzz: What are some of the most common fears expressed by appraisers about this concept?

Lucas Rotter: The themes we tend to hear most commonly include concerns around data ownership and security – how can we be sure that ours and our clients’ data isn’t going to be repurposed or sold and is going to be protected by the highest possible security standards? As a third-party software provider that has gone through the process of obtaining the highest-level of security certification, we can assuage these fears pretty quickly. But where we often see these fears play out is in companies that have built an in-house solution without clearly communicating their data policies. In these situations it can take some time for individual appraisers to feel comfortable with levels of security, who owns their data once it’s in the system, and how that data is being used within the company.

Another theme that can occur at the organizational level is the concern that technology won’t be widely adopted across the board, resulting in a failed investment and wasted resources. We’ve worked hard to develop an intuitive and straightward tool, paired with exceptional customer education and support, so that appraisal teams can get up and running as quickly as possible. Our track record speaks to this!

And of course, there’s always the fear from individual appraisers that the technology doesn’t service the type of properties and valuations that they focus on. Valcre was built for appraisers, by appraisers and when we started building the product we relied on this expertise to build in flexibility to bring in relevant data in an intuitive way, and handle different real estate valuation methods, speciality practice areas and firm-level customization. We knew that to be able to capture the interest and confidence of appraiser users, we needed to scope a comprehensive solution from the start.

Arthur Schwertz: The common fears are:

1. I don’t have any control over the software and I am the whim of the software company to pay whatever they demand.
2. I no longer have control over my data and it will be sold to others including my competition.

Appraisal Buzz: Why should appraisers attend this webinar?

Lucas Rotter: Appraisal firms from large enterprise companies to regional independent practices who are considering their technology strategy would be well-served to attend this webinar. We hear from almost every appraisal firm we talk to that technology strategy is front and center right now, particularly for those that may have invested in their own proprietary software when good third-party options weren’t available or affordable. A big question they have is whether to continue to invest in and even rebuild their existing system, or start from scratch with a third-party, which can be a really daunting decision. Our view is that it doesn’t have to be so cut and dry – appraisal firms can partner with a software provider to augment their existing systems, so they’re building on the extensive work they’ve already done and can access the most advanced technology going forward.

I’m looking forward to a very practical conversation with Arthur Schwertz, MAI, ASA, who is the Senior Managing Director at Mosaic Property Valuations. He’s an industry veteran who has been involved in evaluating and developing software at both a large national firm, as well purchasing third-party software for his own independent practice. I think he’ll have some valuable, actionable advice companies can act on immediately.

Arthur Schwertz: Appraisers should attend this webinar to find out why partnering with the right software company is the way to take their practice into the future. They will learn about why choosing the right software provider makes all the difference in maximizing their business.

 

You won’t want to miss this information. Click here to register and join us tomorrow, July 30th at 11:30AM Central / 12:30PM Eastern!