Last night RPR released version 1.22 of the RPR application. This build delivers beta functionality for the Sales Comparison Analysis for Appraisers. The release also included enhancements to the Sales and Financial History chart, along with the addition of user-entered notes in reports, and other improvements.
Overview of the Beta Sales Comparison Analysis for Appraisers
With the release of functionality for Sales Comparison Analysis feature, RPR will begin beta testing at the end of this month. The design of these features were created in cooperation with RPR’s Appraiser Tools Task Force. The beta test group will be comprised of Task Force members, as well as members of NAR’s Real Property Valuation Committee, and the Florida REALTORS® Appraiser Council. Upon competition of the beta period, the Sales Comparison Analysis feature will become available to all REALTOR® members. Many REALTORS® will find this feature useful for creating a CMA, BPO or other detailed valuation analysis.
The Sales Comparison Analysis feature is a powerful way to evaluate property using area sales information, and comparable listings to produce a detailed record that can be saved or printed. This feature models the kind of in-depth evaluation that is performed in an appraisal and leverages RPR’s nationwide, parcel-centric database. The Sales Comparison Analysis goes into more detail about the subject property and comparable sales as compared to the RPR Comp Analysis feature, which models a CMA.
Appraiser beta members will see a new second option on the Comps Analysis tab found on the property detail pages. By selecting the new Sales Comparison Analysis option, the user is led through a series of steps to confirm or adjust the factual information about a subject property, and then to search for and select comps. After adjusting and weighting the comparable properties, the user receives a Sales Comparison Analysis Result that summarizes the valuation and range for the subject property. The user can also generate an optional Valuation Workbook, which creates a rich archive of the facts and trends that support the analysis.
Other Version 1.22 Enhancements
Also in version 1.22, all REALTORS® will now see an updated Sales and Financial History chart. The newly enhanced chart offers more detail with clearer labeling, and displays better in the RPR reports. Users will also see new notes fields found throughout the Property Details page. These fields allow REALTORS® to easily make annotations for their own personal use, or allow those notes to be published in the reports they generate.
If you’re interested in training opportunities for the RPR application, head over to the RPR Calendar and review the webinar selection. Or for more self paced learning, check out these videos in our Training section of the blog.