January 10 2014
Interviewing an appraiser for my series on RPR® got me curious about their tools built specifically for appraisers. So I attended a webinar about one of their newer appraiser tools: the Sales Comparison Analysis and Valuation Workbook. I'm going to walk you through what I learned.
With the Sales Comparison Analysis tool, appraisers can use area sales information as well as comparable properties in a valuation analysis; confirm or adjust subject property information; select, adjust, and weight comps; and create a Valuation Workbook. The language and format of the Valuation Workbook is UAD-compliant.
The Sales Comparison Analysis tool can be found from any property record. It's under the Comp Analysis tab. You'll be prompted to enter your Appraiser license number, although it's not required to use the feature.
Once you've done that, you can follow the clear instructions to create the Sales Comparison Analysis and Valuation Workbook.
This is pretty self-explanatory. In addition to basic home facts, you can adjust factors like view, style, and quality of construction.
You can add comps in several different ways – adding a known property or searching an area to find comps. If you're using the search option, you can use the tools to draw a box, radius, or polygon around an area.
You can also use a saved area from a past search. In search results, a blue star indicates properties used to create the RVM.
Designed specifically for appraisers, this features allows you to:
The Valuation Workbook can be personalized and adjusted. You can also decide whether you want to email it or print it. After it has been created, the report is stored for 30 days.
Tip: To further personalize your report, you can build a custom cover by visiting the Help Desk. Search for "templates," then select "Can I create a custom cover for valuation workbook?" You'll then be able to download a Word document to edit and save as a .pdf file.
If you're interested in learning more about RPR®, check out the series of articles we've been publishing. You should also view the playlist about the Sales Comparison Tool on RPR®'s YouTube channel. Of course, you can visit our product directory or www.NARRPR.com.