Appraiser Genie Is Awesome!

[Jerred Batten]

Has anyone been using Appraiser Genie? I have had tremendous success and the software is by far the best on the market...It really helps guys like me that has quite a few reports a week. It completes a very large majority and the software is really easy to use. I recommend this to anyone! I am curious if any other Texas appraisers are using the product as well?...

 

[J Grant]

Is it part of Alamode/win total ?

 

[Jerred Batten]

Is it part of Alamode/win total ?

Yes, it is. You can get ten free trials through the TOTAL a la mode store.

 

[Valueseeker]

bump on this. Im hoping a veteran can chime in here. Does this help in your reports? I want to use regression analysis and appraiser genie seems like a decent route to take. I use DataMasters. I know they arent the same product but is there any overlap between the two products?

 

[Joe Flacco]

I think it would be beneficial for new appraisers to learn how to manually develop adjustments. Learn how to develop adjustments and be able to explain why the adjustment is what it is.

 

[Valueseeker]

Ok good point but that doesn't answer the question. I can do them manually. I'd like to know how it performs and assists you in your report.

 

[Randolph Kinney]

Like all adjustments, they need to be tested against the comparables used to see if they minimize the range of value. It is called sensitivity testing.

Sometimes regression produces negative coefficients on some variables, for example.

 

[J Grant]

Does it make adjustments/RA, or just fill in data from MLS and public records..
https://totalstore.alamode.com/product/appraiser-genie

I just looked it up..it says it makes calculations to SUPPORT adjustments. That does not mean you use their adjustments rote/literally. Though probably some appraisers will.

To be "your" adjustments, the genie derived adjustments should be tested by appraiser against their own matched pair and line item (and judgement ) results, not just auto filled in by the program. If they are auto filled in or rote dumped in the grid, you have basically done an AVM and signed your name to it.

I'll try the system at some point. I am all for auto data fill to save time (though I do think appraisers "lose touch" to a degree when they do so).

 

[Jerred Batten]

Ok good point but that doesn't answer the question. I can do them manually. I'd like to know how it performs and assists you in your report.

I had a friend of mine sign up for the ten free uses who has over 10 yrs experience in the business and he loves it. They use your MLS neighborhood search and allow you to narrow the search down by different parameters in the program, thus giving you the 1004mc data set. They also automatically pull Public Records for the data as well as using buildingcost.net which applies a local multiplier. The quality rating of the subject is important because buildingcost.net uses this. You get a full cost breakdown based on the subject's zip code and local building/material cost breakdown for allocation. I'm a huge fan and have a few appraiser buddies who also reap the benefits of completing a ton of your report in merely minutes. Of course, you'll always want to review the data. Garbage in...garbage out. They give you a property report of the subject as well as the comps you select for your grid and about 15 other supported PDFs that are placed in your workfile. You still have to be the appraiser and you can control the adjustments because they are re-calculated on the fly.

 

[Michigan CG]

One of the RA companies last year put together this wonderful presentation about how good their product was. They had a professional video where the subject property was located in a very cookie-cutter area of Denver, CO.

It turns out that their slick presentation resulted an adjusted range of values for the comps that was WIDER than the unadjusted range of the comparables.

If these companies can't get these things to work in a cookie-cutter neighborhood with hundreds of sales how is it going to work when there are limited sales.

I have not seen a successful demonstration of one of these products yet.

It should also be remembered that one has to be able to explain how the program works and know about statistical analysis in order to use it in reports.

I am just waiting for someone in a legal case to use one of these programs, it will be a fun day in court.