Tips To Ensure Your Appraiser Technology is Working for You
The world has changed drastically over the past year, and the appraisal industry, too, without a doubt, has seen some updates to its processes. As we move from a full-fledged pandemic to slowly opening key geographies thanks to the steady rise in vaccination, we can see increasing confidence in the market. However, just like remote work is not slowing down anytime in the future, nor will appraiser technologies.
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Even before the pandemic struck, several appraisal industry tools were being leveraged to streamline processes and provide accurate insights to customers and the appraisers. Now while the whole landscape is changing, it is more important than ever for you to ask yourself if the technology is working for you. To do this you can consider several parameters that will help you gauge if the adoption of appraiser technology in your process is efficient and actually delivering outcomes.
Here is a look at some of these parameters that can help you recognize if the tools in place fit your needs and allow you to decide accordingly.
Identify the Expected Outcomes from Your Appraiser Technology
Appraiser tools are seen as disruptors in the industry, but it is just the mindset that needs to change. An appraiser management company can benefit significantly from using technology to ease the overall process and is ideal for everyone involved. It provides lenders, valuators and customers with ready reports and real-time information. To get the best value from appraiser technology, the ideal starting point should be after identifying gaps or opportunities in the current process that the appraiser technology can help you solve.
Before you start hunting the right tool in the market, start by evaluating your processes and where you expect technology to add value. This will help you select the right platforms and even help the technology providers understand what is expected.
Chat With Your Industry Peers About How They are Utilizing Technology
After conducting an internal analysis, it is also essential to gauge the tools and technologies used in the market. This is vital as markets and regulators require information to be stored and reported in a particular format, and the technology needs to be in sync with this need.
Speak with your peers in the industry to gain an understanding of what is the popular tool of choice in the industry. Also, when considering different tools, make sure to opt for the one with industry knowledge. This is key as technology needs to update as per market needs. A technology partner with a deep understanding of the market can provide timely updates to its tools, which is crucial to increase the accuracy of the appraisals.
Connect or Track Your Company’s Performance with Scorecards and Goals
If you are already using a particular software or appraiser technology, there are ways to monitor the performance of your entire team and gain detailed statistics on how your particular tool has helped you in the long run.
For example, a detailed scorecard that provides statistics on performance, average turnaround time, orders completed, revision request percentage and much more, can be extremely beneficial in providing all the required information in a few simple steps. The best part of scorecards and utilizing technology to track your data is the accuracy and available customizations. You can get the information you need weekly, monthly, or yearly, and the dashboard can even be personalized as per your requirements.
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For Appraisal Business Owners or Admins, Anow provides in-depth information as part of the Anow Accelerate add-on package. You can learn more about the Appraiser Scorecards feature here. In addition to scorecards, Anow allows you to track revenue goals and automate the entire process to monitor each order to help you get real-time updates. This Revenue Goals option is available across all Anow products, and you can get more details on this feature here.
Appraisers & Technology: Forging the Path Ahead
Be it appraiser solutions or any other tool, the key criteria for determining whether to adopt a certain service or technology is always the level of comfort and trust you feel with the provider.
Having top-notch tools and digital valuation/appraisal technologies is of no use if they cannot offer you the right support. If you need specific features or need help, it is best to opt for a provider that is always available and provides a quick turnaround time for any support requests. In the world of technology, the ideal technology partner can offer a quick turnaround on any issues you may be facing and has a dedicated support team to help you in times of need.
With Anow, you can get answers to all your questions without having to wait too long for a response. The Anow Support Team is available through Live Chat, email (firstname.lastname@example.org), and phone (1-800-403-7121). We are here to help you and listen to your feature requests and ideas – that is how our tech is built; by listening to real appraisers.
Submit your feature requests and ideas for future consideration by our development team here.
Great content! Keep up the good work!