Commercial appraisers: Modernize your workflow in 2021 with LightBox Valuation

February 24, 2021 3 mins
Risk Management, Appraisal, Lending & Appraisal

Instead of switching between multiple platforms to acquire data and write reports, the most effective commercial appraisers leverage technology to enhance their capacity and improve quality. Many of us spend hours on administrative work that adds limited value to our work product. In part, it’s because the commercial real estate industry is fragmented with inefficiencies, […]

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Instead of switching between multiple platforms to acquire data and write reports, the most effective commercial appraisers leverage technology to enhance their capacity and improve quality.

Many of us spend hours on administrative work that adds limited value to our work product. In part, it’s because the commercial real estate industry is fragmented with inefficiencies, redundant workflows, and a lack of authoritative sources. Data and workflow tools don’t connect with each other, causing us to spend more time, energy, and money on mundane administrative tasks, flipping from one system to the next.

At LightBox, we believe that you shouldn’t have to worry about all of that, and instead focus on producing high-quality and trusted reports and advice. So we set out to build the only connected workflow and data platform on the market for commercial appraisers.

LightBox Valuation is an end-to-end solution designed specifically for commercial appraisers. It is built to help you be more efficient and accurate, freeing up your time so you can focus on solving the appraisal problem for your client. Ultimately, our technology frees appraisers to be the best professionals possible. Since the system was built by the same team that powers your clients, you benefit from state-of-the-art security. 

Significantly reduce the appraisal process time, increasing accuracy and quality

At every step, LightBox Valuation saves you time and effort. The platform directly connects you to clients through our RIMSCentral and PARCEL/Project 360 platforms with one log-in. These platforms procure over 250,000 assignments per year. Manage all of your company’s jobs, easily view and respond to RFPs, and monitor bid status across all jobs. You can also refine your bid strategy through access to LightBox industry benchmark data covering fees, turn times, win rates, and other key metrics.

Our research tool aggregates multiple data sources, freeing up your time to provide critical insights on the subject and the market. Once you identify the property & market information you need for your report from our comprehensive database, our team of in-house researchers verifies Assessor and Zoning data with links to each source. Our research includes:

  • 300 property-level attributes and zoning information
  • Site definition, backed by LandVision – the industry standard for spatial data
  • Assessment, tax, transactions, demographics, traffic, schools, flood, wetlands information
  • Map exhibit maker with layers, drawing, measurement tools
  • A robust search of the LightBox property data set

The above data and images are directly transferred to the report writer – both the valuation model and report. Further, the back-up subject data is consolidated and ready for your workfile. Because there was no cutting and pasting or reentering data from various sources, accuracy is up and time to complete is down.

Eliminate decision fatigue & put yourself in the driver’s seat

Our comprehensive tools enable you to access and visualize data about your business, empowering you to reach smarter, faster conclusions. With access to business metrics on the platform, you can easily see how your business is performing, identify new opportunities, and address challenges.

  • Leverage bidding analytics to better understand what the clients need and are willing to pay for.
  • Monitor your firm’s performance over time and against LightBox market benchmarks.
  • Bid more effectively and win more work.

Our industry benchmarking data comes from more than 250,000 projects awarded per year through the LightBox lending platform, giving you the competitive data needed to develop smarter RFP bidding strategies to boost win rates and revenue. 

Use the tools you already know to write reports

LightBox Valuation utilizes the tools you already use, Microsoft Excel and Word, and combines them with powerful, cloud-based analytical tools. Customize report templates, create your own calculations to enhance your analysis, and expand your comparables database and trade comps—no need to learn new commercial appraisal software. 

Looking to grow your business in 2021? LightBox is here to partner with you to help you grow your business. To learn more and receive a demo of the LightBox Valuation platform, contact us here.