This is what Class Valuation appears to be doing to justify their actions. According to the article written by Richard Torne in Mortgage Professional America, Class Valuation has announced the acquisition of DataMaster.
From the article:
“Were not replacing the appraiser, we’re empowering them”
Appraisers have had their fair share of discussions on Class Valuation; just search on any appraisal related publication. It’s a love / hate relationship. DataMaster has also been discussed heavily. It’s more of a love / like relationship. Are the two companies a good match?
Remember when Dave Biggers sold alamode to CoreLogic? Is it Deja vu? How will appraisers react? Will DataMaster lose market share? Will DataMaster be a requirement for appraisal completion with Class Valuation? Will it be business as usual?
“The deal, announced on Monday (September 20), will see the two companies work towards fully digitizing the entire appraisal process, Class Valuation said in a statement.”
“Digitizing the entire appraisal process”… what does this even mean? No more tape measures? No more typing? What exactly is being digitized that is not already digitized? We use laser measuring devices that import the measurements directly into the sketch, we use apps to gather our field data and take pictures, we import data from outside sources directly into our reports, (most MLS systems do this without the use of DataMaster, Spark or other services); we analyze our data through computer programs ( Excel/ R Studio, etc) ; we send and save our reports electronically. So what exactly is being digitized that is not already? How exactly is the appraiser being “empowered?”
Who is thinking hybrid appraisal?
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