Did you know that ACI Report™ is fully loaded with great tools for data gathering, comp selection, data validation, and applying adjustments? If you’re already an ACI customer, all of these features are included in your eService membership plan and can save you some serious time producing better quality, more substantiated reports.
Step 1: Get Data
Start by creating a report just like you do today. After typing in your subject address, go to Sky Data to gather property information including Public Records, FEMA and Census data. Select Import and Sky Data will write everything including parcel number, short legal description, census tract, prior sales and R.E. taxes directly into your report. That could be like 50 fields you don’t have to key in – wow!
Step 2: Find Possible Comps
ACI Analytics™ helps you analyze market conditions, examine property characteristics, select comparables and perform statistical analysis. Export a file from your MLS including property addresses and all major characteristics. For a full list, click here.
In the Comparable Selection tab, you’ll see the properties from your data pool plotted on a Google Map™. Click on a map marker to jump to the appropriate row in the data table. From the table you can filter by sales and listings, and limit your observations to be the most recent by adjusting the date (by default this is set to the past 6-months).
Click on a column header to sort and identify outliers. Remove an outlier by selecting “Do Not Use” from the drop-down menu to the left of the property record. From the same drop-down you can identify properties as Comparable Sales. These will map to the appropriate section in the grid. Select Import into ACI to complete your comps grid.
Step 3: Validate – Comp CrossCheck
For an extra check and to validate that your condition and quality ratings are consistent with prior assignments, use our Property CrossCheck to run your addresses against your comp database. If you’ve used a property in the past, you have the opportunity to reconcile the data in a side-by-side comparison view. You can even import the photos!
Step 4: Comp Calculators
Use our Comp Calculators to view all of your comps at once and make adjustments on key items with ease. The calculator automatically computes and displays the differences between the subject and each comparable. All you need to do is key in the adjustment factor for an item and it computes the adjustment across all comps. You always have the control to override the factor for specific comparables, there’s a drop-down to indicate your preferred rounding factor, and each item allows you to set an adjustment threshold.
The new Weighted Calculator that assists you when determining the Indicated Value by Sales Comparison Approach. This new worksheet displays a summary of each comparable’s net and gross values along with corresponding weights. You can use this as research or select Import to use the value in your report.
With ACI doing the heavy lifting, data-collection and analysis is a breeze. For more information on streamlining your workflow, register for one of our free live training classes.
If you are not already using ACI, you’re probably paying too much for data and analytics tools, so call or email us today for a free trial.