One of the most important investments that lenders and appraisal management companies are going to make is their selection of the right appraisal management software. Not only does appraisal management software simplify and make the appraisal process more efficient, it becomes the backbone of the business on which staffs, clients and appraisers rely on a daily basis to carry out their tasks. With the host of options available in the market today, the decision can be a tough one to make. So we have listed out a few things that you should consider before making the plunge.
The most important thing to consider is functionality. Does the software have the features that your company requires? It is crucial to perform a features comparison between platform providers and assessing which provider offers the essential features that would simplify your appraisal process and create efficiencies for your business.
One size does not fit all. So if the features you require are not immediately available, is the software platform customizable so that the provider can build out the required features for your company? The software provider’s responsiveness and willingness to make the required changes for your company should be an important factor in your decision making.
Is the system user-friendly and intuitive enough that a first-time user would face no issues in using it? With clients logging in to place orders and appraisers accepting assignments and delivering reports on the system, the system needs to be user-friendly not only for your company but also for users who have had no prior experience using the software.
Is the system integrated with the right loan origination software providers? This could be crucial for your business, with lenders opting to keep as much of their processes within a single system. LOS integrations allow lenders to submit appraisals in your system from within their LOS software, resulting in precious time-saving and avoiding costly errors.
Appraisal Review Features
Does the system have automated and manual review methods built-in to aid the appraisal review process? With lenders clamping down on low quality appraisals, it is crucial to have the right quality control processes built into the system to aid the appraisal review process. Select the platform which offers multiple options to suit your needs and budget.
Is support available when you need it? Your appraisal management software provider should be a partner to your business. They need to offer a dedicated relationship manager along with timely support so that you can focus on building and running your business. So ask for customer support options and customer referrals from the provider before making your decision.
Accessibility and Uptime
Can the platform be accessed at all times and does not face outages? A lot of providers have built their platforms on shaky infrastructure which results in outages when you need your system most. Make sure you ask the provider about their infrastructure and their disaster recovery capabilities during the decision making phase.
What will be the total costs of using the appraisal management system? A lot of providers today charge set-up fees, exorbitant per-order fees and lock your company into long-term contracts. All of these could take a significant chunk out of your revenues. Select the provider which offers all of the above at the most reasonable price-point.
At ValueLink we have built our appraisal management platform keeping all of the above mentioned features in mind. We strongly believe that our platform is unmatched in functionality, customizability and user-friendliness. We have partnered with leading technology providers to offer LOS integrations and appraisal quality management solutions. We take pride in our customer service which has left us with highly satisfied customers who rave about our product. ValueLink is built upon extremely reliable and secure infrastructure with redundancies built-in to ensure our customers never face any down-time. Our unique pricing structure is such that our success is based on your success, which results in us going the extra mile to help you grow your business. Request a Demo today and see how ValueLink Appraisal Management Software simplifies your appraisal management process.