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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!
Don't Play PossumI love Dobermans. My wife and I have one older male Dobie now; he's black and tan. We usually have a couple at a time. However, his current buddy is a toy poodle. Very much the Ren & Stimpy Show. This 70-year-old equivalent canine of Germanic origins is still very alert and fast. He often kills possums that live under our deck. Then we get to see nature's garbage disposal - turkey vultures.
I always wondered why possums' instinct is to "play possum". Remain motionless until the predator thinks you've expired and hopefully move on. This tactic doesn't seem to work very well, especially in my backyard. Maybe it's a left-over evolutionary remnant, at one point in time played a critical role to its survival but now its baneful Achilles Heel.
I see parallels with this marsupial and our commercial real estate appraisal industry. It's easier to "play possum" then it is to get up and run, especially if your opponent has the chops of a Dobie! Perhaps over the years we, as commercial appraisers, have subliminally been programmed to be risk adverse. However, the commercial appraisal market has changed recently. I bet you've noticed. The Appraisal Institute's 2012 Appraiser Career and Demographic Profile survey asks the chilling question, "how confident are you that real estate valuation will remain a financially rewarding and professionally challenging career in the future?" I talk to many appraisers who lament about the decline in their established relationships due to Dodd-Frank, plummeting appraisal fees, commercial form reports on the horizon, commoditization of our product, etc. As such, I contend survival of the fittest must be incorporated into our day-to-day activities.
So what exactly is our pathway to successful natural selection in appraising? Ongoing incremental improvements of implementing technology to streamline the appraisal process through workflow processes. It's a mouthful. All I'm really saying is re-evaluate how you create your appraisals, from the bidding to the closing of the file. You might be surprised at how many facets of our business you can automate. We preached these values at a recent appraisal productivity seminar in Tampa. The 4-hour presentation was a mixture of psychology and software suggestions. Let's face it. It's not necessarily about the software solutions; it's about your attitude to change. You could have the best appraisal software in the world but if it sits on the shelf why bother?
Take your time, but start today to implement solutions including a comp management database, report writing software and appraisal workflow management. Don't do things just to do things. Key to your success is implementing those things that work for you. We all work differently so don't just copy your competition. Don't expect wholesale change overnight, but start doing things that substantively increase your hourly wage and stop doing things that don't. Appraisers throughout the United States technically provide the "same" product, typically an opinion of market value. However, the quality and efficiency of producing the product varies dramatically.
There's a book series called the Darwin Awards, filled with humorous stories about people who "fail". The series honors those who improve our gene pool by inadvertently removing themselves from it. A little harsh I know but I see a very strong need today for commercial real estate appraisers to get moving. I'm not trying to be preachy but I don't like to see our industry caught flat-footed. Rise up and fight the good fight. Don't play possum...my Doberman is watching you.
If you would like to join a discussion about this topic or Appraisal Best Practices contact Jeff Hicks. |
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RealWired! Consulting
Adam Thomas, Consultant
realwired!, Inc.
Let Me Think It Over
We find ourselves saying "let me think it over" all the time in different facets of our life. Whether it be at home or at work, we tend to let certain things linger. While we think we will eventually get around to it we find ourselves thinking about time and time again with no action. I have found it is a huge time waster and thwarts productivity because you spend so much time analyzing the pros and cons that it impedes progress.
Commercial appraisers are great at analysis but their Achilles Heel is implementation of appraisal solutions and report automation. Adopt the behavior of making a decision either yes or no. Maybe just wastes time.
For more information on how to make your appraisal office more efficient please call Adam Thomas at (813) 349-2700 or email him at adam@realwired.com.
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RealWired! TECH NEWS
New DataComp version 6.3.11 is available for download on our website. Click on Support at the top right and then select DataComp Tech Support. REMEMBER, you must already use Version 6 to update from the website.
If you have version 5.3 or lower please contact John Rosario in Technical Support at (813) 221-0703 or john@realwired.com and schedule your upgrade.
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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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