Hybrid appraisals are a lot like full appraisals which require a physical inspection of the subject property. However, rather than the appraiser doing the inspection of the home as well as working on the research and analytics to produce the appraisal report, the inspection is completed by a different person such as a home inspector. Thus the process is split into two work streams and hence the name “bifurcated.”
While the home inspector and appraiser work independently, the home inspection report is required for the appraiser to complete the analysis and determine a value for the property. Since the appraiser often receives the inspection report as a PDF they are left to handle the manual copy of data from the inspection report into their appraisal analytics and forms. Many AMCs and software providers have been developing home inspection tools to help ease this data exchange between the inspector and the appraiser.
Profet.ai is integrated with inspection platforms to make hybrid appraisals easy
Profet.ai has integrated with several inspection platforms to import the Inspection Report, Data and Images to allow the completion of your Bifurcated or Hybrid Appraisal with just a few easy steps.
Profet.ai seamlessly blends 3 data sources for any appraisal – MLS listing data, public record data, and inspection data to allow the appraiser to complete their research and analysis on a single platform. The inspection data is also included as a Condition Addendum to your appraisal including photos and floor plans.
Using Profet.ai for MLS Listing research is particularly helpful when data from multiple MLS’s are required to complete an appraisal. If you are a member of more than one MLS, use Profet.ai to search across those MLSs, counties and even state lines, minimizing the number of required searches, open browser windows or computer monitors. We call this capability One Search™, which also lets you draw multiple polygons or choose radius to find comps. Appraisers can manually adjust values or use the built-in regression recommendations to assist with value adjustments.
We automatically associate public record data to each subject or comparable listing or sale and highlight any differences between them to make it easy for you to choose and use the best quality data.
Profet.ai automates a few additional sections for you to save time and effort on your appraisals:
- 1004MC Inventory Analysis is automatically added to all appraisals using the neighborhood and comparable definition you use for the search.
- Flood Data and Maps and Plat Maps can be auto-generated and attached to the report.
- In certain markets, Building Sketches can also be included.
When complete, the full report, including the inspection report and photos can be exported to various formats – MISMO XML, Ala Mode XML and more. Or use the integrated Reconciliation and Certification page to digitally sign and certify the value, print and deliver.
Profet.ai is also integrated with ACI and Appraise-It Pro appraisal software.