The app is called Mercury Mobile. It enables appraisers in the field to respond instantly to new orders from Mercury Network lenders and AMCs, according to the company. Appraisers using the app receive notification when a Mercury Network client order comes in. They can quickly accept, negotiate, or decline the order. Bottom line: You’ll be less likely to lose opportunities that come in while you’re out on field inspections.
By combining Mercury Mobile with a la mode’s mobile appraisal inspection and sketching product, TOTAL for Mobile, appraisers can handle the entire order-to-inspection cycle onsite on an iPad.
a la mode has an established history of mobile innovation, with more than 300,000 downloads of apps for appraisers and real estate agents. Its platform, Mercury Network, powers more than 20,000 appraisal orders a day and is used by more than 600 lenders and AMCs.
“Just offering a cool tool of some sort, whether simple or complex, isn’t sufficient,” said Dave Biggers, a la mode’s founder and chairman, in a prepared statement. “It has to be done by a company with the ability to penetrate the market in sizable numbers, with a training, support, and distribution network reaching directly to the devices and desktops of enough appraisers that an impact is felt industry-wide. This new Mercury Mobile product meets all of those criteria.”
What do you think? Do you sometimes have trouble getting back to clients on a timely basis? Would an app such as this be likely to improve your response time on appraisal orders? And if you’ve already tried Mercury Mobile, what do you think?
The Appraisal Practices Board (APB) of The Appraisal Foundation is seeking valuation professionals for a national talent pool to serve as a resource to the Board as it develops future voluntary guidance on generally recognized valuation methods and techniques.
Under the direction of the APB, those chosen as subject matter experts will research recognized texts, journals, articles, educational offerings and other resources in order to provide voluntary guidance on emerging or complex issues. Subject matter experts are not compensated for their time but are recognized in all guidance issued by the APB, which are known as Valuation Advisories. Examples of adopted Valuation Advisories include:
- Identification of Contributory Assets and Calculation of Economic Rents
- Adjusting Comparable Sales for Seller Concessions
- Residential Appraising in a Declining Market
- Identifying Comparable Properties
- Identifying Comparable Properties in Automated Valuation Models for Mass Appraisal
Topics currently under consideration by the APB include:
- Collection and Verification of Sales Data
- The Valuation of Customer-Related Assets (Business Valuation)
- The Valuation of Green Buildings:
- Background and Core Competency
- Residential Green Buildings
- Non-Residential Green Buildings
- Market Participant Acquisition Premiums (Control Premiums) (Business Valuation)
- Contingent Consideration (Business Valuation)
If you are willing to share your expertise, be part of a broader conversation, and receive recognition for your contributions, click here for an application.
The Appraisal Practices Board (APB) of The Appraisal Foundation has issued solicitations for Subject Matter Experts (SMEs) for The Valuation of Green Buildings – Residential Properties and The Valuation of Green Buildings – Non-Residential Properties. The respective solicitations can be found by clicking on the links below:
The application deadline is February 14, 2014.
Questions? Please contact Staci Steward, Practices Administrator, (202) 624-3052
The Appraisal Standards Board (ASB) has issued January Q&As on the following topics:
- “Verifying” Completion of an Appraisal
- Assignment Results
- Fannie Mae Form 1004
- Use of Certification with Form 1004D/442
- Applicable Edition of USPAP
For questions, please contact Emily Mann, Standards Administrator (202-624-3058).
The Office of the Comptroller of the Currency (OCC) recently updated its guidance to national banks and federal savings associations for assessing and managing risks associated with third-party relationships.
The guidance includes a discussion of comprehensive risk management processes throughout the life cycle of the third-party relationship.
The Appraisal Standards Board (ASB) has issued a new USPAP Q&A on the Appraisal Foundation website:
Questions? Please contact Emily Mann, Standards Administrator, at firstname.lastname@example.org
Summary: Lack of time, information, and resource has made it difficult for appraisers to factor green building into their valuations. Now, the Northwest Energy Efficiency Alliance has released a means for appraisers to gatherincremental green cost data locally. The National Association of Appraisers calls NEEA’s Cost Data Addendum as “a significant step forward in providing data to residential appraisers about local incremental costs to install energy-efficiency and green features.”
While residential appraising still relies heavily on the market or sales comparison approach, green building and particularly energy efficiency is now recognized in some areas as a new market influencer. With this, appraisers need verifiable and credible secondary evidence to support an adjustment to the primary approach. Where can appraisers go for this secondary evidence?
The Appraisal Foundation has drafted a white paper on Alternative Valuation Products and the Uniform Standards of Professional Appraisal Practice (USPAP).
The white paper is intended to provide information to assist appraisers, users of appraisal services, and others, with a greater understanding of Alternative Valuation Products and their use in the marketplace. The paper also attempts to view these products in light of an appraiser’s USPAP obligations.
Comment Deadline: December 31, 2013
Send Comments to: email@example.com
Respondents should be assured that each comment will be thoroughly read and considered.