Our Appraisal Technology and Tools MI - Michigan Reserve Associates

Why hire a technically advanced reserve study provider?

Reserve study providers are, by far, the most technical agents in the real estate world. By necessity, they have been drawn into the digital world at a pace not seen by their colleagues. The reserve study process is one that lends itself to technology. And technology has paid significant dividends to those who have invested in it. These dividends are shared with the reserve study provider's customers, in the form of shorter turn-around times and a much better final valuation report.

Data Gathering
The valuation process is a data intensive process. Reserve study providers spend a lot of their time gathering both specific information about the subject property and general data about the local market.

Today's digital reserve study provider has several tools that can aid in gathering data in the field. Starting with tools like the Leica Disto Laser meter are making measurements more accurate. And sketch software allows the reserve study provider to sketch buildings on the fly. All of this means that the reserve study provider can get the report done and delivered to the client in a fraction of the time it once took.

On the other side of the data gathering coin is the general data. The Internet has revolutionized the ability of reserve study providers to get quality data in a fraction of the time it once took.

Report delivery
The report is done. Now how is the digital reserve study provider going to leverage his investment in technology to improve the delivery process? Modern reserve study providers have forsaken the old print-and-snail mail route for a much more efficient electronic delivery system. Utilizing Adobe's Portable Document Format (PDF) files, we can deliver a complete, multi-page report, complete with digital photos and maps, through secure email. Now, instead of waiting for the daily mail, or paying for expensive courier services, customers can simply log into their email system and retrieve their reserve study at their convenience.

Digital Workfile
It would be wonderful if reserve study providers could complete a report, deliver it and never worry about seeing that document again. But one of the purposes of a valuation assignment is as a legal document outlining the condition of the subject. So reserve study providers must keep their reports for 5 years, allowing them to recall any file at any time to either defend the valuation or to be used in other legal proceedings.

Here again, the digital reserve study provider leverages his investment in technology to improve service. By storing every aspect of the assignment - notes, sketches, supporting documentation and calculations - along with the reserve study, the professional is able to retrieve that report at any time within the five years and recall just what that report was about. And this data is not stored in boxes stacked 5 deep in some rented warehouse. Instead, the digital reserve study provider uses technology to electronically include all supporting documents as part of the file. These files are stored securely on searchable media where the reserve study provider can find them in a fraction of the time required in the past. This helps appraisal clients by giving them immediate, virtual access to any assignment they've ordered.

These are just a few examples of how technologically advanced reserve study providers are improving the business workflows of their customers. Investing in the right software, services, and hardware allows the reserve study provider to deliver reserve studies quicker, more efficiently and with higher degrees of accuracy. All of which helps keep costs down, and save his clients time and money.

Michigan Reserve Associates
424 Little Lake Drive, Suite 23 • Ann Arbor, MI 48103
Voice (734) 237-1828 • Fax (734) 661-1259
info@MichiganReserveAssociates.com