National property database Realtors Property Resource has tools that can make an appraiser’s life much easier, writes Clareity’s Matt Cohen.
RPR, a National Association of Realtors subsidiary, has launched a slew of tools for its varied constituents, including agents, brokers, associations and appraisers.
RPR’s Sales Comparison Analysis Tools and Valuation Workbook allow appraisers to home in on a property and view relevant photos, maps, multiple listing service data, public records information, the Realtor Valuation Model (an automated valuation model that includes MLS data), prior sales, present and historical taxation data and mortgage records, parcel information, and house attributes such as number of rooms, according to Cohen.
“Bringing all this data together reduces the number of websites that have to be consulted to put together an appraisal to one: RPR’s,” Cohen wrote.
One thing that needs work: The report the system spits out after an appraiser has finished his or her work with the data is locked into a PDF file that is not compatible with the appraiser’s forms software.
“RPR could work toward integrating with some of the competing appraisal forms packages. The result could be a completely digital domain for appraisal, in which appraisers move from RPR data through forms software to the electronic submissions that Fannie Mae is turning to,” Cohen wrote.
“RPR has gone nearly the whole distance when it comes to making the appraisal process simpler and more convenient; it just has the last few yards to go.”