BoxLi

[gregb]

Joan Trice has a new product:

https://www.boxli.AI/

 

[Vermonter]

This 3.6 fiasco is a scammers paradise. Most appraisers are older, reclusive and not very tech savvy which makes for extremely easy targets

 

[chad hampton]

This 3.6 fiasco is a scammers paradise. Most appraisers are older, reclusive and not very tech savvy which makes for extremely easy targets

I doubt too many appraisers over 55-60 will stick around. If this would be a proper rollout, it would be ok. But this is a disaster. The software doesn’t function. Even the software providers are privately bitching about the GSEs. The only ones out there speaking positively are the typical yes men.

 

[J Grant]

Joan Trice has a new product:

https://www.boxli.AI/

Thanks, but.. . this is another solution for a non-problem.
Appraisers can measure like they always did, or use lidar, or use Cubi Casa. Joan has always been on the periphery, trying to sell something.

The real problems on the res lender side is subpar pay from AMC fee predation, stagnant lender fees, and dwindling volume. The dwindling volume isn't just due to a slow mortgage loan cycle, but to WAIVERS replacing appraisals. None of the tech-bro companies, Trice, or anyone else trying to sell stuff is offering a solution to the real problems.

After the profiteers suck the last few dollars from residential appraisers, they might start leeching off the commercial side. AI can compose narratives from a few prompts, making narrative-heavy cert-gen reports that rely on the income approach ripe for AI.

 

[glenn walker]

Thanks, but.. . this is another solution for a non-problem.
Appraisers can measure like they always did, or use lidar, or use Cubi Casa. Joan has always been on the periphery, trying to sell something.

The real problems on the res lender side is subpar pay from AMC fee predation, stagnant lender fees, and dwindling volume. The dwindling volume isn't just due to a slow mortgage loan cycle, but to WAIVERS replacing appraisals. None of the tech-bro companies, Trice, or anyone else trying to sell stuff is offering a solution to the real problems.

After the profiteers suck the last few dollars from residential appraisers, they might start leeching off the commercial side. AI can compose narratives from a few prompts, making narrative-heavy cert-gen reports that rely on the income approach ripe for AI.

Commercial is getting hit hard it's just not talked about on this forum or others. The fee's have also dropped down by as much as 50% from say 10 years ago.

The AMCs also have infiltrated the commercial side and the glory days are gone for most independents. The ones working for Cushman Wakefield and large commercial brokerages are still doing okay.

 

[J Grant]

Commercial is getting hit hard it's just not talked about on this forum or others. The fee's have also dropped down by as much as 50% from say 10 years ago.

The AMCs also have infiltrated the commercial side and the glory days are gone for most independents. The ones working for Cushman Wakefield and large commercial brokerages are still doing okay.

I do not believe commercial will ever be as hard hit, if at all, by AMC's way as res appraisals have. There is no reason for anyone other than a lending bank to use an AMC to order appraisals, and if the Appraisal fee is not on a HUD bundled fee for commercial, the AMC would have a hard time gouging the big % they do on res loans. Commercial has diverse assignments and clients, and those clients are allowed to select the appraiser, unlike in regulated res loans. I agree that large firms might dominate more commercial work in the future.

AI will make more future inroads in commercial, especially as the developers realize the pool of res appraisers is shrkinigna nd most are too broke to buy their products. The use of narrative in commercial, probably part of it was boilerplate with some custom comments or original comments, but now AI can generate paragraph after paragraph of slick, professionally sounding comments with a few prompts. Might be hard to charge as much when that is the case.

 

[NC Appraising]

I like the product....it was me that gave the idea on the forum before this product was introduced..in my opinion..lurkers....in your get my drift. Allegedly


What i said that needed to come to the market was a product like cubi casa but that can be edited in the field or in the office. This is what this does. This way you can do some check points with you disto to confirm some measurements.

Sorry perea grads...you should know how to measure a home to be an appraiser.


With cubi casa, you have to upload it, wait and then maybe able to edit it. More steps. *there AI and engineers help to fix the drift to make it more accurate. That is why you send it to them.

I have tried it. In my opinion, allegedly, the tech is not there yet. I may have, in my opinion, allegedly got blocked for expressing my opinion a while back. I tried it on my home and it didn't work out to well.

If these products are to be used, we need to invest in some professional products and not just a ipad or iphone. * based on my trails, iphones are more accurate.

Im not a expert in lidar, but from what I've read, the apple products with lidar just is not accurate enough.


just an example....
An RTK (Real-Time Kinematic) receiver paired with an iPhone Pro and LiDAR is an external, high-precision satellite positioning tool that upgrades the phone's standard GPS accuracy from several meters down to centimeter-level (1–2 cm) absolute accuracy. [1, 2, 3]

 

[NC Appraising]

External Add-Ons for Your iPhone (To Fix Drift)
If you already use an iPhone Pro, you know its built-in LiDAR is fantastic for scanning individual rooms but starts to "drift" and lose accuracy when you try to scan an entire house or capture long exterior walls. [1, 2]
Rather than buying a second LiDAR sensor, professionals attach an RTK GPS Receiver to the iPhone.

• How it helps: The external receiver locks onto satellite correction networks to pinpoint your phone's absolute position down to the centimeter. This acts as an anchor, completely eliminating the drift errors that happen when walking through a large house.
• Top Options: The Emlid Reach RX Rover (~$1,599) or the Pix4D viDoc RTK Rover (~$5,990). [1, 2, 3]

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2. Standalone Handheld LiDAR Scanners (iPhone Alternatives)
If you want a dedicated physical device that handles massive spaces, long distances, and outdoor scanning much better than a phone screen, new handheld spatial scanners can map entire properties independently. [1, 2]



3DMakerpro Raven LiDAR Scanner
$1,359.00
3DMakerpro

• Cost: ~$1,359 to $1,699
• Why it fits: It features a 100-meter range (compared to the iPhone's ~5-meter range) and scans 150,000 points per second with an independent onboard processor. It allows you to walk through a home or trace the exterior layout, maintaining tight accuracy without needing a phone connected. [1, 2]

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3DMakerpro Eagle LiDAR Scanner
$3,398.00
3DMakerpro& more

• Cost: ~$3,398 to $3,998
• Why it fits: A long-range option (up to 140 meters) built for capturing large properties, full roof structures, and complex architectures in a single outdoor walk-through. [1, 2]

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[glenn walker]

I do not believe commercial will ever be as hard hit, if at all, by AMC's way as res appraisals have. There is no reason for anyone other than a lending bank to use an AMC to order appraisals, and if the Appraisal fee is not on a HUD bundled fee for commercial, the AMC would have a hard time gouging the big % they do on res loans. Commercial has diverse assignments and clients, and those clients are allowed to select the appraiser, unlike in regulated res loans. I agree that large firms might dominate more commercial work in the future.

AI will make more future inroads in commercial, especially as the developers realize the pool of res appraisers is shrkinigna nd most are too broke to buy their products. The use of narrative in commercial, probably part of it was boilerplate with some custom comments or original comments, but now AI can generate paragraph after paragraph of slick, professionally sounding comments with a few prompts. Might be hard to charge as much when that is the case.

Your Wrong Commercial is getting hit harder and many are doing residential to survive.

 

[Surf Cat]

If these products are to be used, we need to invest in some professional products and not just a ipad or iphone. * based on my trails, iphones are more accurate.

In any profession, if keeping up with the trends is needed to remain relevant, the professional needs to be paid. You can't go into the hole buying, learning tech to scan a floorplan when fees are not there to support more costs for the appraiser. Especially when a tape or Disto will do just fine.

Now this Lidar measuring "fee" is going to be expected "on top of" technology fees, portal fees, upload fees, electronic funds transfer fees.

Not too long ago, there was a video here on the forum with some exec stating fees were not going to increase for the 3.6. For appraisers to "get on board".

Where do these additional fees/costs for appraisers end?