Profet Platform FAQ

Does Profet support photo analysis in its quality control process?

Yes, Profet Review is the appraisal quality control application within the Profet Suite and it supports comprehensive photo analysis.

Here are the major capabilities:

  • Condition and Quality extraction from photos
  • Compliance checks - human in photos, religious symbols, staged or AI generated photos, etc.
  • Feature Extraction - extract property feature information to match against appraisal data
  • Damage / Repair Information - identify damage in the property that needs fixing

 

What photo analysis technology do you use?

Profet uses PropMix's proprietary image analysis capabilities. It does not use any 3rd party services.

PropMix invested in an internal platform for 2 main reasons:

  • Ensure the best accuracy for the image predictions and inferences made and to be able to support those predictions for appraisers and lenders
  • Reduce the cost of the inferencing engines and pass on the savings to our customers to enable scale

Do appraisers need to maintain their MLS membership if they are using Profet?

Yes, appraisers must maintain their MLS memberships.

Note that MLS data is licensed by PropMix directly from the MLSs via a vendor relationship. Profet platform will verify your MLS membership before providing access to MLS data. And this verification happens in real-time every time you search for comps or try to access any MLS data. If the membership is not active, the comp searches will fail.

The benefits of using Profet for comp searches:

  • Standardized data that directly powers your valuation models, no need to download from the MLS
  • Pre-generated insights to support your valuations - no need to run them for every appraisal for yourself
  • One search across all MLSs if you are a member multiple MLSs in a metro area

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Profet Valuation NextGen Migration: FAQ

Does Profet Valuation NextGen have a new URL?

Yes, you can now access Profet Valuation via the Profet Portal at https://portal.profet.ai

When you login to the portal, you will be automatically redirected to Profet Valuation. Please note that you will be able login to the new platform as and when your company is migrated to it. Our team will be in touch with you in the coming weeks to introduce the new platform and schedule the migration process.

What will happen to my old orders in Profet (MCA)?

The current version of Profet Valuation is also called Market Conditions Advisor (MCA). All your old orders in this system will remain as-is.

You will be able to access those orders via Profet Valuation NextGen. The orders list page in the NextGen version will include your new orders as well as the orders from MCA. When you click on an order and open it for viewing / editing, the application will automatically launch your old orders in MCA and your new orders in the NextGen platform.

What will happen to any ongoing orders in Profet (MCA)?

The current version of Profet Valuation is also called Market Conditions Advisor (MCA). All your current orders in this system will remain as-is and you will continue to complete your work on these orders within MCA.

You will be able to access those orders via Profet Valuation NextGen. The orders list page in the NextGen version will include your new orders as well as the orders from MCA. When you click on an order and open it for viewing / editing, the application will automatically launch your old orders in MCA and your new orders in the NextGen platform.

When you create any new orders, they will be created in the NextGen platform.

What are the new features and benefits in Profet Valuation NextGen?

Profet Valuation NextGen is loaded with many new features and is our strategic platform for new UAD standards support as well as the integration of numerous generative AI technologies.

So, we are excited to bring this first version of NextGen that lays the foundation for a modernized valuation process.

Here are some immediate features you will get in NextGen, but there is a whole lot more coming soon:

  • Ability to search for subject or a comparable using either address, partial address search, parcel number, owner name, etc.
  • Reorder the comps in the comp grid
  • Excel-like experience in the comp grid for ease of use
  • Export your custom PDF - implement your custom branded valuation reports within  2-weeks and go to market
  • Live Preview of your report before signatures and download
  • Run an audit of your valuation before wrapping up your work. Even customize the rules for your business
  • Seamless integration with Profet Review gets you to conduct a deeper analysis before submission

Stay tuned for many more cool features in the works. Please follow us on LinkedIn for the latest updates.

Will my old orders open in the new system?

All your old orders will continue to open in the old system with no changes. So, you will have complete access to all your historical data and orders with no change after your migration to the new platform.

Will my password change when the migration is completed?

Yes, when your company is migrated to the new platform each employee will receive a new account activation email with a link to complete the registration in the new system.

Clicking on that link will lead the user through a couple of simple steps to set their new password.

 

Will the pricing be different for the new platform?

No. The pricing for the new platform is exactly the same as the current system. So, you will not see any changes in your monthly billing.

Do I have the option to continue Profet (MCA) if I prefer to do so?

You will have the option to continue to use MCA for a limited period of time. While we have not set a hard date for retiring the current platform, we expect that to be sometime before the end of 2024.

We will work with you in the meantime to get you migrated over to the new platform.

Is there a target date by which I have to necessarily convert to Profet Valuation NextGen?

We are working with each of our customers to complete the migration to the new platform. You will hear from us very soon to collaboratively determine a date by which you can complete the migration.

While we have not set a hard date for retiring the current platform, we expect that to be sometime before the end of 2024.

Can I play with the new system before switching over to it?

Yes, we encourage you to use our staging environment before converting your live account to the new system.

As we schedule your migration to the new platform, we will first set up your staging account and provide you access to it.

Once you feel comfortable with the features in the new system we will then schedule a live system cut over date.

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