Pro Teck introduced Intelligent Quality Control, which will give appraisers the tools needed to address an issue before they submit an appraisal.
Whereas some current tools identify appraisal risk post-delivery, Pro Teck’s new tool will allow them to identify the risk before the appraisal is submitted. The product’s aim is to reduce wasteful communication cycles between the appraiser, appraisal management software and the client for correction, clarification and confirmation.
In order to create the product, Pro Teck partnered with Platinum Data's RealView, a tool that analyzes appraisals against appraisal industry guidelines and any customized appraisal review rule set. The tool then provides several numerical scores as to the appraisal’s overall performance.
“We were very pleased with our proprietary QC technology, but after taking a hard look at Platinum Data’s RealView product we saw opportunity to enhance our systems,” said Pro Teck CEO Tom O’Grady. “Platinum has been a great partner, working with our engineers to customize a solution to meet the needs of our clients.”
The tool will also analyze the appraiser’s commentary, and make sure it explains all exceptions identified.
“We’ve made the tool appraiser-facing and took advantage of some unique functionality that RealView provides, like ranking comps, additional market sales and identifying discrepancies between what is being submitted and prior appraisals or public records on the same property,” said O’Grady.