No. 1 Selling Comp
Database Software
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An Easy to Setup and Use Commercial Appraisal Report Generating Software
Too busy to create your own templates? We're here to help.
We now offer services to create your custom templates for use with our appraisal generating software, EDGE©.
Interested? Please contact Sarah Razai at (813) 221-0703. She will be happy to help. |
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Are You Current?
Please make sure you are running the current 5.3.05 version of DataComp©.
To view a complete description of items contained in Service Pack 5.3.05, click here. |
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DataComp©
Additional Services Available
Need more custom fields in DataComp© but don't have the time to set them up? We now offer service to set up your Custom Tabs for you. The price varies depending on how many fields you want configured.
Don't forget...you can also contact us about setting up your DataComp© custom outputs for both Word and Excel.
Interested? Please contact Sarah Razai at (813) 221-0703. She will be happy to help. |
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For more information on realwired!© Products and Services, please call
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APPRAISAL BEST PRACTICES
by Jeff Hicks, President,
The Dohring Group/realwired!©
We have been gathering best practice tips for over ten years from the best appraisers in the country and now we'd like to share them with you. |
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Is it possible to be so analytical that obvious appraisal issues get missed in your reports? I thought I would share some "real life" stories from appraisers as to avoid the embarrassing "duh" feeling. For example, an appraiser on the second page of his report just after the cover page, presented a picture of the subject property with a big banner saying "for sale". However there is no mention of the subject being for sale in the report..."duh".
You would be surprised how many appraisers forget to identify the occupancy of a building. Many appraisers think their readers are clairvoyant and can read their mind. "Can't you tell the building is 100% occupied? I mentioned it somewhere in the report that the building was owner-occupied?" Moreover the appraiser thinks their reader "should know" that there are no arm's-length leases in-place without actually having to mention it in the report.
Don't assume anything. The reader of your appraisal might be from a different city or state and have no clue as to your casual local references or landmarks. Assume your reader has never been to your city and has not been to the property. Spend time in your writing style, be descriptive, be informative, make conclusions. Do not go on and on about general facts. Help your reader summarize the data's meaning.
Commercial appraisals are about quality of data, analysis, presentation and communication of the appraisal issue at hand. Don't miss the obvious stuff. As a staff appraiser, actively think as you write. What would you like to read if you were the one who had to read your own appraisals? If you mention, for example, that the subject has deferred maintenance, identify it, quantify its cost and consider it in your valuation. If you are a reviewer, you have perhaps read thousands of appraisals in your work career. Don't get lulled to sleep during your review. Rather, read the report as if it is your first review job. In the end, nobody likes to get called out on a "duh" moment.
If you have an appraisal "best practice" you would like to share, please forward to Sunda@realwired.com. If your best practice is selected, your name and company will be showcased. |
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DataComp© Tip
Do you use a mapping program such as Delorme or Microsoft Streets and Trips? Then you'll be pleased to know that DataComp now has a mapping feature that allows you to import comp labels directly onto a map. Even better, additional functionality has been added that allows the user to add two more fields such as Sale Date or Square Feet to the comp label output.
All mapping options are configurable on a per module basis. Comps can be set to map by either latitude/longitude or street address. A default subject and comp label can be set for all comp labels in Module Preferences or defined before printing. There are eight additional field options available which include Sale Date, Price per Acre, Acre, Square Feet, Property Name, Sales Price, Price per Square Foot and Price per Unit. Up to two of them can be added per comp label.
Getting the labels into your mapping program is quick and easy. Simply print the comps using the map option. This will export them to a txt file. Open the mapping program and import the text file. The comp labels will then appear on the map in the appropriate location.
Step by step instructions can be found on our website, www.datacompsoftware.com. No login is required. Simply click on the link at the top for Support and Patches. The mapping documentation can be found on the left hand side under Instructions and Manuals. Additional questions can be directed to our Technical Support Department at (813) 221-0703.
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INSIGHTS
If you are like most appraisers, your reports contain at least a couple of Excel spreadsheets. Did you know that EDGE allows you to choose up to seven spreadsheets to be inserted automatically into your report template? Additionally, the spreadsheets are inserted as linked tables. This means that you can update the data right from the report and the spreadsheet will be updated as well, or vice versa.
The Excel fields are located on the Valuation tab within Edit/Select Appraisal Data. Hovering over the fields with the mouse will display the appropriate keyword to insert into the report template. After the template has been setup, simply click on the ellipse button located next to the field and browse out to your spreadsheet. It will be necessary to define a range of cells within the spreadsheet to be inserted into the report.
For instructions on how to setup your spreadsheet, go to www.datacompsoftware.com and click on Support and Patches. The EDGE section will be on the left hand side. Instructions are located on page 44 of the EDGE manual. Further questions can be directed to our Technical Support Department at (813) 221-0703. | |
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