Appraisals and ValuationsTechnology

CoreLogic announces new augmented reality appraisal tool

“ScanToSketch” will assist appraisers in creating property sketches used in their property valuation reports

CoreLogic announced on Thursday the launch of “ScanToSketch,” an augmented reality (AR)-based property measuring and sketching tool to create home appraisal reports.

Developed using CoreLogic’s appraisal software brand “a la mode,” the tool has been used to complete roughly 20,000 property sketches. So far, its data has been featured in over 12,000 appraisal reports, according to CoreLogic.

AR refers to technology that combines elements of videography with virtual reality, where a computer or smart device is used to overlay digital elements on real-world objects and/or environments. Other examples include Microsoft’s “HoloLens” products and wearable headsets that allow a person to “enter” the “Metaverse” as created by Meta, the parent company of Facebook

ScanToSketch uses a combination of Light Detection and Ranging (LiDAR) — a remote sensing method using a pulsed laser to measure ranges — and AR to “allow appraisers to complete their scans in minutes – building a full exterior footprint of a home and enabling instant access to the sketches for real-time adjustments on-site,” CoreLogic said.

“From ScanToSketch to proprietary image analytics, our CoreLogic teams are always working to put new, advanced technology in the hands of our customers,” said Devi Mateti, president of CoreLogic Find and its enterprise digital solutions group. “This product improves speed, accuracy and access. We look forward to seeing ScanToSketch’s impact across the real estate industry.”

Appraisers using the tool can scan any size property and immediately access their created sketch. “ScanToSketch has an average accuracy variance of 1-2% when compared to traditional measuring tools,” CoreLogic said.

The tool is intended for appraisals, but the company says there are other applications to the home-buying process for home inspectors and real estate agents.

Specialized hardware is not required to use ScanToSketch, unlike Meta’s and Microsoft’s AR offerings. It is currently supported on Apple’s iPhone Pro and iPad Pro devices manufactured from 2020 to the present. The program is available for free within the appraisal app TOTAL for Mobile, available on the iOS App Store.

Android device support is not specified.

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