The industry has a huge demand for appraisals but an ever-shrinking number of appraisers available to conduct them.
Incenter Appraisal Management’s RemoteVal technology allows appraisers to cut out all physical travel and get more inspections done, in turn generating more orders per day that they can complete.
The RemoteVal solution leverages the technology that homeowners and agents have with them already – their Apple or Android smartphones. It eliminates the need to send third-party property data collectors to a home or to bring special devices into a home. This greatly reduces time and cost to all parties, as well as allowing appraisers to generate the needed inspection data to complete valuations remotely.
“The real difference with RemoteVal is that it keeps appraisers in full control of the appraisal inspection,” said Erik Pogwist, Chief Appraiser. “Appraisers can greatly reduce their turnaround times by taking photos and capturing data remotely using their own smartphone.”
RemoteVal’s built-in digital measuring tape makes it easy for appraisers to determine the square footage/GLA, and its 3-D scanning technology enables the application to generate and deliver floor plans quickly and efficiently for lenders and appraisers alike.
“No other remote valuation solution offers this combination of appraiser-centric features and functionality,” Pogwist said.
The primary benefit of RemoteVal is speed for the lender. The inspection process can take days to weeks to complete, but RemoteVal reduces that time, allowing the appraiser to deliver a faster report for the lender. And investors buying the loan from a lender benefit from reduced risk, knowing the appraiser saw the property and signed off on its condition.
Consumers want an easy process that doesn’t require them to measure or photograph a home. GSEs want the desktop appraisal and other remote valuations to increase the veracity and the speed of appraisals.
RemoteVal delivers on both fronts. Because the appraiser is visually viewing the home in real-time on the effective date of inspection, they can more reliably and accurately verify the property condition and attest to that. It lowers risk and increases report veracity while eliminating the need to visit the property.
It also enables appraisers to complete reports without driving to the property. In an era of rising gas prices, environmental consciousness and concern for pollution, they can reduce their impact on the environment by ordering virtual appraisal inspections like RemoteVal.
“RemoteVal is easy to adopt and use for appraisers and homeowners,” said Mark Walser, President. “We made it highly effective but also simple. And because appraisers are still in control and personally verifying all the data, the increase in speed doesn’t come at a reduction in accuracy or integrity.”
With RemoteVal, Incenter can bring appraisers into the digital age while still preserving and enhancing their role in the remote inspection process. This, in turn, will help drive the adoption of the GSE desktop appraisal and increase usage of it, creating efficiency for appraisers, reducing driving time, gas usage and environmental impact, and providing lenders with the speed and scalability they need to make loans faster.
Mark Walser, President
Mark Walser is President of Incenter Appraisal Management and is responsible for the direction of the company and its strategic growth and technology initiatives.
Nikkita Phanda, Senior Vice President of Operations
Nikkita Phanda is Senior Vice President of Operations, and runs all aspects of the company’s customer service and appraisal fulfillment functions.
Erik Pogwist, Chief Appraiser
Erik Pogwist is Chief Appraiser of Incenter Appraisal Management, with over 30 years of experience as an active field appraiser and expert in appraisal review, overseeing the company’s appraisal compliance and quality control department.