Wednesday, 28 September 2022 | The Latest Buzz for the Appraisal Industry

Still Using a Clipboard and a Tape Measure?

Technology will continue to infiltrate the industry – learn about how ProxyPics technology and tools will put you at the forefront of real estate transactions as the GSEs continue to evolve valuation options in the digital age. Join us for our upcoming webinar, “Still Using a Clipboard and a Tape Measure? Get an Inside Look at Tech-Enabled Valuation Solutions” on June 14th at 2 pm with Luke Tomaszewski, Vin Vomero, and Jordan Yount. We sat down with our host, Luke Tomaszewski, to get the inside scoop on this upcoming webinar.

Buzz: What is your background in the industry?
Luke Tomaszewski: I’m an 18-year veteran of the real-estate valuation industry. I was named in the NMP 40 under 40 in 2014 for my involvement in the real estate valuation sector. My first hybrid appraisal was developed 13 years ago.

With an aim to change the way homes are photographed for mortgage needs in the digital age, I created ProxyPics, my second US patent. I sought out to change the way appraisers do business by increasing efficiency and consistency in valuations.

Buzz: What have been some significant changes in the appraisal industry in just the last year?
Luke: The GSEs have made it permissible for Appraisers to obtain floor plans, photos, and data through a third-party source for Desktop Appraisals. Freddie Mac furthered their allowance of third-party data collection into the PDR (Property Data Report) space by combining an ACE+PDR for refinance transactions, in leu of an appraisal. However, the 70H/1004H is also gaining traction as the GSEs have made it acceptable for trained data collectors to physically inspect a property to save the appraiser time and additional expenses.

Buzz: How is new technology shaping the industry?
Luke: Leveraging technology to complete valuations will enhance the efficiency, speed, and accuracy of the property data to produce quality reports. The Appraiser saves time and effort of filling out forms and conducting research, which results in improved turntimes. There is much opportunity for automation in the valuation space, which is why we are excited to continue to develop more products that benefit lenders and consumers.

Buzz: How can we take this new information/way of thinking and turn it into business?
Luke: With a shortage of Appraisers in the industry, technology advancements will not only streamline the valuation process, but it will aid in talent acquisition. The next generation of Appraisers have grown up with technology at every stage of their lives which will result in innovation and disruption industry norms.

Buzz: Why should appraisers attend this webinar?
Luke: Get a better understanding of how ProxyPics technology works to streamline your valuation process and provide a value to the American consumer. Technology will continue to infiltrate the industry, and our tools will put you at the forefront of real estate transactions as the GSEs continue to evolve valuation options in the digital age.

Make sure to join us for our upcoming webinar, “Still Using a Clipboard and a Tape Measure? Get an Inside Look at Tech-Enabled Valuation Solutions” on June 14th at 2 pm. Can’t make that time? Sign up to receive the recording directly in your inbox!

 

Responses

  1. Yea….I am. Don’t have to spend 1,000 on an IPhone….high monthly fees…..never have to worry when net shuts down or there are tech glitches. And I save my eyes. I also know how to write without using text speak.

  2. Clipboard, $40 digital tape to the 1/8″ (ANSI compliant lol), digital camera. I’m as efficient as I can be and keep my customers happy. Maybe I’m lucky to have lenders that don’t need a report delivered in 48 hours? What happens (knock on wood) if you have the rare instance someone complains about your appraisal and it goes to trial, your work file gets included into the evidence. Your phone that gathers the data goes away for awhile into the court system right? AAA batteries, charging station and a few memory cards is my comfort zone. I’m not a perfect appraiser, my mistakes are minimal, my opinions of value are typically well supported, I hit my due dates almost 100% of the time. Why do I need anything else? To keep up with the new generation of appraisers? and what they’ll be trained with and use? Maybe… sure, I get that. What I have works though. I honestly have an open mind about it and hope the next generations continue to be better and more efficient than me, I just have not found the value in these game changing tech upgrades yet. Maybe soon?

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