As we pointed out in last week’s compliance blog, appraisals are tough business. They require training, expertise, and certification…they are expensive, and they are mandatory.
Recently, we wrote about how banks can lower their internal appraisal costs by incorporating TrendSource Property Condition Reports. This adds efficiencies to their operations and allows their internal appraisers to complete more appraisals per day without having to complete in-field work.
But, of course, this is not only true for the banks that rely on appraisals to make their daily operations compliant and functional, but also for appraisers themselves who contract their services out to banks, real estate agents, and other clients needing appraisals on a large scale.
Appraisal companies know better than anybody how expensive appraisals can be, and they work to find any wiggle room they can to expand their margins. Lowering the cost per appraisal for these companies just makes good business sese.
Property Condition Inspections accomplish just that, providing detailed Reports to licensed appraisers who need not venture into the field to capture photos, take measurements, or complete sketches.
Appraisers use these Reports to complete desktop appraisals, wherein the input multiple types of data to arrive at a property value. The information contained within Property Condition Reports is essential for desktop appraisals.
By allowing TrendSource Inspectors to complete the in-field legwork required for appraisals, appraisal companies lower their operational costs and increase their profit margins.
TrendSource offers a lower cost alternative to sending licensed appraisers into the field for measurements, sketches, and photographs. By relying on its exclusive database of experienced Inspectors, TrendSource provides reliable and rapid in-field work to support desktop appraisals.
TrendSource offers seven different Property Condition Inspection types—called scopes—with different scopes offering differing combinations of interior and exterior measurements, sketches, and photographs. The variety of these offering ensures that appraisers can get exactly what they need from TrendSource field work, no more, no less.
And because every Property Condition Report is checked by the best QA team in the business to ensure that everything is accurate, appraisers can confidently rely on the data.
Reliable data makes reliable appraisals, and reliable appraisals make for happy clients. Happy clients are always the goal, but satisfying them while also lowering operational costs, well, that’s the of efficiency TrendSource provides.