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No. 1 Selling Comp
Database Software
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DataComp
DataComp Version 6 offers the new MapPoint feature. This feature interacts to and from the MapPoint software for lookup and reversed lookup functionality. For instructions, click here.
EDGE
EDGE now features the ability to merge multiple tabs in the same Excel worksheet.
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YouConnect© is a web-based Appraisal and Vendor Management solution enabling institutions to automate and steamline this part of their business, while satisfying federal and state examination and auditing requirements.
For more information, please visit our website, call 813.349.2700, or email Sunda.
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APPRAISAL BEST PRACTICES
by Jeff Hicks, President
The Dohring Group/realwired!
Eat Your Own Dog FoodIn the past, I have mentioned our new commercial appraisal report writing software called Edge. I am very excited about this product because I see it as a game changer for our industry. I believe appraisers now, more than ever, need tools to compensate for the declining fees due to the commoditization trend brought by Dodd-Frank.
Sometimes we ignore our own expertise when it comes to professional matters, a cobbler with bad shoes, a plumber with leaky pipes...you get the idea. So for my appraisal company, the Dohring Group (Realwired's sister company), you would think I would have complete buy-in from all my appraisers to utilize our technology products. Not so much. Our culture is certainly one of efficiency, productivity and looking for new ways to make incremental improvements so they either get on board or move on.
In the beginning was DataComp, our comp management software. We obviously use this program day in and day out. I can't remember a time when I appraised without having the benefit of this great database. My appraisers showed little resistance to DataComp, probably because it's been around the appraisal market for more than 15 years. They used it at other appraisal firms. No learning curve. No resistance. However, when it came to me rolling out new technology such as Edge or Appraisal Manager (web-based appraisal workflow app), the gremlin of resistance reared its ugly head. Though it was never verbalized, my appraisers were thinking "I'm too busy cranking reports out the door to look at anything new", "I have high production the way we do it now" and "try that stuff out on somebody else".
I was shocked. My own folks resisting change even though it was no cost to them, came with unlimited training and full backing of management and tech support. I guess I shouldn't have been surprised by the feet dragging. Most things worth doing typically involve taking one step back to take two steps forward. Most people do not want to invest time or money to make their workday much much easier. However, I do and my company most definitely uses all of our products to the maximum which we affectionately call "eating your own dog food".
Setting expectations and to some degree dictating mandatory adoption, plus the benefit of time, is the key to success. By implementing our productivity tools, I can honestly say my appraisers' productivity and more importantly their hourly wage has increased substantively. The efficiency improvement helps the trainee to the MAI, it's not discriminatory. All the while the quality of our appraisal reports, in my humble opinion, is the best in my market. Production quantity must be hand-in-hand with report quality. DataComp, Edge and Appraisal Manager are a suite solution, from job bidding to job closing. We have so many other productivity concepts (not just software) that the state of Florida has approved us to teach a commercial appraisal productivity seminar.
Answer these three simple questions to test your current productivity fitness level.
1. Do you work weekends? 2. Is your hourly wage declining due to inefficiency? 3. Would you honestly utilize software solutions or stick them on the shelf because you're too busy? If you answered yes to any of the questions above, I recommend you contact our productivity consultant, Adam Thomas. He can be reached at 813-349-2700.
If you would like to join a discussion about this topic or Appraisal Best Practices contact Jeff Hicks. |
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RealWired! TECH NEWS
Older versions of EDGE will no longer be supported after April 1st, 2012. To make an appointment and get the new version installed, please contact John Rosario at (813) 221-0703 or john@realwired.com. |
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RealWired! Consulting
Adam Thomas, Consultant
realwired!, Inc.
With the start of the new year, 2012-2013 USPAP becomes applicable, so I thought I'd take a moment to pass along a link to an article from the Appraisal Institute's Valuation magazine outlining new requirements and changes that need to be made aware.
From an EDGE perspective, the three major items that need to be addressed are: 1. Make sure you update your Output (Word Report) templates with USPAP 2012-2013 reference. 2. Insure that the required "reasonable exposure time" text is included in your Output templates as well. Within the Input Master that was included with your EDGE software, the "exposure period" category is located in the Assumptions worksheet...the keyword in the Output templates is Exposure_period. 3. In the Certification, include a reference to occurrence of or absence of prior services. The required text (shown below) is a good example of a category that could be set up as a Multi-Text field type in your Input template, with "have performed" or "have not performed" as Multi-text List selections. In the Input template, the Prior Appraisal Services category is in the Introduction worksheet. "I have performed no (or the specified) services as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment" I'm not saying you need to make a New Year's resolution, but let's make 2012 the year that EDGE increases your appraisal $$$ production and gives you back your weekends for fun!
For more information regarding this topic please call Adam Thomas at (813) 349-2700 or email him at adam@realwired.com.
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Is Your DataComp Version Current?
DataComp Version 6 is now available.
Top Features... - Compatible with Windows 7 and Server 2008 & 2011
- Ability to Print PDF's
- Search your Comps on MapPoint
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Your DataComp Data is Important!
Traditional back up programs may not be saving your data. Ensure that your data is safe by using the DataComp backup function. Instructions can be found here.
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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.
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Getting Organized with EDGE...
Taking the time to setup an organized folder structure for your EDGE documentation can go a long way towards maximizing your efficiency. For suggestions, click here.
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Additional Services Available
Too busy to create your own Custom Templates? We're here to help.
We now offer services to create your Custom Templates for use with EDGE. |
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Past Newsletters
If you've missed our prior Newsletters, you can view them here.
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