Did you know the ACI eService membership plan includes access to Data and Analytics at no additional charge? These tools work hand in hand to drive efficiency and quality throughout the appraisal process. On your next report, go ahead and try the workflow described below and see how easy it is to bring data and analytics into your reports.
Step 1: Research Subject Property – ACI Sky Data
Get started by creating a report just like you do today. After typing in your subject address go to eServices > Sky Services > Sky Data to gather property information including Public Records, FEMA and Census data. Select Import and Sky Data will write all of the information (up to 50 fields depending on your municipality) 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: Analyze the Market and Select Comparables – ACI Analytics
Export a file from your MLS using your normal search parameters (this can be in the form of a CSV, TXT, TAB, or XLS) . You’ll want to include property addresses and all major characteristics. For a full list, click here.
Then launch eServices > Import Analysis Data > ACI Analytics and select Import to bring the MLS data into the free Analytics engine.
In seconds, your data is automatically organized, analyzed and presented for your review. The 1004MC trend data is completed as dictated by current GSE guidance and corresponding graphs provide insight about market trends.
Jump to the next tab to see the subject and other properties plotted on Google Maps. You can switch to hybrid view to get a roof top look at the properties and neighborhood characteristics. Sort and Select your comps and include notes on the criteria for selection or exclusion. You can stop here, or continue on through the statistical analysis of the key components of value and regression analysis.
Step 3: Save Data to Workfile and Import into ACI Report
When you close ACI Analytics, all of your property and analysis data is automatically stored in your report workfile for future access. If you select Import into ACI, data will flow into the 1004MC and help fill out the comps grid. If you select to import the graphs and property data, our new Analytics Addendums will be automatically added to your report. The professional maps and graphs add interest and clarity while supporting your conclusions.
Step 4: Review – Comp Cross Check & PAR® Logic
For an extra check and to validate that your condition and quality ratings are consistent with prior assignments, use our Property Cross Check 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!
Finally, don’t forget to run the PAR Logic rules to analyze your report. PAR Logic is the industry leading rules engine that checks thousands of best practice and compliance rules in a matter of seconds!
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.