Our Live Price Opinion Report is similar but far superior to the BPO Product. Our Product will fuse the local market expert opinion to the automated data analysis and then create an auto generated summary report.
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Live Valuation-Sample LPO/BPO Report
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Virtual Assisted Valuation (VAVTM)
Better Results in a Fraction of the Time
VAVTM is a state-of-the-art proprietary valuation system. Traditional appraisal methods are time and labor intensive
but the associated fees and number of orders are compressed. Put VAV™ to work in your operation and dramatically
improve productivity and accuracy. Better, faster results lead to more orders.
What We Offer:
LiveValuation offers you market
analytics at your finger tips:
• Value Ranges
Standard appraisal forms produced with new levels of efficiency and accuracy!
• Median and Average Prices
Utilizing market metrics and data derived from the local Multiple Listing Service, appraisers
• Average Days on Market
are empowered to produce more accurate valuations in a fraction of current time standards.
• Current Inventory Levels and
After defining the market area, real time market analytics are displayed on a dashboard
for the appraiser to interpret. Graphs of quarterly and monthly price changes with annual Absorption Rates; annual and
trend-lines are displayed and can be inserted in to appraisal reports. The market can be the past 30 days
further examined by price bands.
• Typical property types;
design, age, bedrooms, baths,
and lot size
• Estimate of REO activity by
units and percentage
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Virtual Assisted Valuation (cont.)
A narration of these analytical data points is automatically generated for inclusion in standard appraisal forms (1004,
2055, ERC etc.) This narration is not just canned comments but is created using rules sets that mirror standard
appraisal methodology. If needed, the appraiser can edit or add to these comments before or after they are ported
their appraisal software.
VAVTM does not stop with market metrics. All of the active, pending and sold properties within the market defined by
the appraiser are available for comparison to the subject. Displayed with photos, and side by side with the subject,
comparable selection is enhanced with a sophisticated scoring system. Comparables are ranked based on their
similarity and distance from the subject. The highest scoring comparable properties come straight to the top. In
addition the appraiser can sort or filter properties in a multitude of ways.
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Virtual Assisted Valuation (cont.)
Once comparable properties are selected they can be reviewed with detailed MLS and public record information
is displayed for each property. These verified properties are then exported directly to the appraisers desktop form
software.
With LiveValuation the appraiser can save hours of time and confidently produce data rich reports supported by real
time market metrics.
“The mission of LiveValuation is not to replace the appraiser with technology but
to empower them. Our Virtual Assisted ValuationTM technology does the heavy lifting for
the professional leaving them to do what they do best, make value decisions.”
Ernest W. Durbin II, SRA, CRP
CEO, Founding Partner
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Powerful Regression Analysis
LiveValuation is not an AVM but integrates regression tools the local appraiser can use in their marketplace. The
comparable properties the appraiser selected, from the market area they defined, are analyzed with over 20 different
regression models. This small market modeling yields outstanding results!
AVMs frequently fail because they include properties that, for one reason or another, are not truly comparable
(outliers). LiveValuation only analyses the properties the professional appraiser has selected. The result of this
combination of local market expertise and modern regression techniques supplies very accurate values.
The appraiser drives the data selection and reviews the value or value range produced by the regression tool. The
final value is reconciled and called by the appraiser.
Science to the Art
Bringing
of Appraisal.
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LiveValuation has a New Appraisal Report Format
Once the appraiser has analyzed the market, selected and reviewed the comparable properties, run the regression analysis,
and reconciled an opinion of value, LiveValuation can produce a USPAP compliant summary appraisal report. On the final
screen, the appraiser is guided through the valuation process in a question and answer format. USPAP compliance is directed
by popup screens, alerting the appraiser to provide commentary when needed. Predefined statements of Scope of Work are
included for desktop valuations, exterior and interior inspections. The appraiser can edit the Scope of Work as well as make
and discuss Hypothetical Conditions or Extraordinary Assumptions.
The Summary Report generated includes a main page
with market and subject property specifics. Potential
items of concern for the intended user are highlighted
in red directing the reader to the addendum page. After
the main page all properties included in the analysis
are demonstrated with photos. A comments addendum
follows the comparable listings and sales provided.
Finally the report includes the necessary Certifications
and Limiting conditions which have been custom
written for the specific property.
The LiveValuation Summary Report is data rich,
accurate and USPAP complaint. The local appraiser
can leverage this report for private assignments, local
lenders, as well national entities which have expressed
interest in receiving this report in place of a BPO report
(Brokers Price Opinion).
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