Appraisers are challenged across the board with tighter turn-times, yet are expected to maintain their level of quality reports. LightBox’s newly released Valuation, an end-to-end, data-as-a-solution technology platform, addresses this challenge head-on. It supplants the disparate set of tools on which valuation professionals have long relied and dramatically improves their ability to research property and market data, write high-quality reports, and generate more revenue.
LightBox Valuation’s seamless integration of bidding/job management, subject property research, report writing, and business intelligence tools provides unprecedented operational efficiency, consistency, and control. The system is built for speed, efficiency, and accuracy.
“High-quality valuations are critical to the commercial real estate market,” according to Rich West, MAI general manager of Lender and Valuation business lines at LightBox. “Running a valuation business requires accuracy and agility to manage requests for proposals, assemble multiple property data sources, and produce reports. Valuation streamlines this time-consuming and costly effort, making everything from bidding to report delivery easier; cutting production time by as much as 60 percent.”
LightBox Valuation allows appraisers to:
- Effortlessly manage request-for-proposal (RFP) and job pipeline with an easy-to-use tool that is integrated into established job procurement systems (PARCEL and RIMSCentral), through which more than 1,200 real estate lenders procure more than 250,000 valuation jobs a year.
- Make smarter bids and win more assignments with an intelligent RFP bidding tool that provides access to previous jobs, pertinent subject property data, and market benchmarks for bid pricing and turn-times.
- Complete property research in minutes with the integrated subject property research tool that gives instant access to more than 300 datapoints, map layers and documents, including zoning, assessment, demographics, traffic, flood, sales, ownership, and much more. LightBox’s skilled research team also verifies the accuracy of zoning and real estate taxes for every assignment.
- Eliminate manual data entry and report assembly with the integrated report-writing system, which eliminates manual data entry by automatically importing the data and map exhibits into the analysis tools and formatting them for the final report.
- Impress clients with uniquely styled reports by using customizable report templates to reflect their branding style or dozens of professionally-styled, USPAP compliant templates that are preconfigured for virtually every commercial property type and all approaches to value.
- Translate data into insights and action by leveraging bidding analytics to improve win rates and profitability, monitor performance over time and against market benchmarks, and develop insights that allow them to find opportunities before their competition.
Valuation is a powerful tool that will change the way appraisers operate, Whether they are sole owners, manage a small team, or work for a nationwide firm, appraisers will find that Valuation is an indispensable tool for driving future success.