Remote Property Appraisal Management System
About Client
Industry
Real Estate
Location
USA
Project Overview
Our client encountered challenges with the traditional property appraisal process, which involved time-consuming steps such as scheduling property visits, on-site manual data collection, manual handovers to technicians for floor plan creation, and, finally, the submission of appraisal reports.
This approach was not only resource-intensive in terms of time and cost but also susceptible to human errors and delays due to manual processes.
In response to the challenges, we introduced a remote property appraisal solution. It assigns an appraiser to the property owner, who conducts a thorough assessment via video call, and then the system automatically generates a 3D mesh file from the data collected for creating precise floor plans using our builtin floor plan creation tool. For users with LIDAR devices, automatic floor plan creation is available. This optimized process reduces travel time, costs, and human error while enhancing efficiency. The outcome includes a detailed appraisal report, higher monthly appraisal counts, and increased client satisfaction.
Traditional Property Appraisal Process
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Challenges In Traditional Property Appraisal Process
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Manual Data Collection Leading to Potential Errors: Another challenge arises from manual data collection, which can result in errors in measurements and property condition assessments. Moreover, it may introduce delays in the appraisal process.
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Our Solution
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Outcome
36% Increase in Profit
90% Reduction in delays
Human error reduced from 7.5% to 1%
100% Boost in Happiness of All the Parties
80% Efficiency increase
75% Improved client feedback
80% Improved quality of appraisals (benefiting lenders/mortgage industry and offering better deals)
Significant environmental benefits, including reduced carbon emissions and sustainability promotion
Infinite blessings Received from the Property Owners and Mortgage Companies
Appraisals completed a year:
Traditional System - 62,500 (Fees 500 USD - Cost 300 USD)
Remote System - 1,00,000 (Fees 350 USD - Cost 100 USD)
Total appraisers 100
Profit Difference: (Remote) $4,74,50,000/Y - (Traditional)$3,46,75,000/Y = $1,27,75,000/Y
90% reduction in delays
Human error reduced from 7.5% to 1%
Significant environmental benefits, including reduced carbon emissions and sustainability promotion
80% efficiency increase
75% improved client feedback
80% improved quality of appraisals (benefiting lenders/mortgage industry and offering better deals)
100% Boost in Happiness of All the Parties
Infinite blessings Received from the Property Owners and Mortgage Companies
Features Of Remote Property Appraisal Management System
Job order management
Effective call scheduling
Remote Inspection via Video Call (including scanning, recording, screen sharing, and real-time chat)
Built-in Floor Plan Creation Tool
Automatic 3D Floor Plan Creation For LIDAR users
MLS (Multiple Listing Service) Data Feeds
Google Maps Integration
RELAR Analytics for detailed property insights
Walk Score API
3D Virtual Tours
Mortgage Calculator API
Technologies Used
Front-end
- ReactJS
- AngularJS
Backend
- MVC .NET and .NET Core
- Ruby
Android
- Kotlin
- MVVM architecture
- Google Maps API
IOS
- Swift
- Viper architecture
- Google Maps API
Database
- PostgreSQL
Server
- Azure Cloud
Third party Integration
- Azure blob Storage
- AWS S3
- Sentry
- SendGrid
- Twilio