Narrative Software or Sticking with Word?

[Ginger528]

Hello all,

Do any of you use specialty software for your narrative reports? My focus is 100% commercial appraisal and to this point, have used Word and Excel as my primary software for the reports. Lately I’ve been contemplating whether narrative software could help streamline some repetitive things during the report writing, save some time, less errors, etc. I have researched a few of the bigger names (Narrative1, Commercial Complete, ReportBuilderPro) and would like to hear from anyone actively using these or others.
My main questions are:
• Does the software save you time in writing the report?
• Have you received positive or negative feedback from your clients regarding your reports since you started using the software?
• Is it worth the investment?

Thanks!

 

[hastalavista]

I use Narrative One for my commercial work and am happy with it.

I have written a narrative in word before (designed it myself) for litigation purposes. I spent a lot of time on formatting and presentation; too much time. And, IMO, that is the difference between doing it yourself and buying an off-the-shelf product:

Do it yourself: You know the program inside and out, and have customized it to your own requirements. The quality of the appearance of the report and how functional its use is, is going to be dependent on your word & excel skills. If you are a word/excel whiz, no need for off-the-shelf.

Off-the-shellf: They spend the time creating the integration between the spreadsheet and the report-writing document, and they've already done the formatting. As a rule, the reports look very "professional" and the presentation within the report is organized in a manner that most clients expect. Most vendors will provide updates (technical as well as USPAP) when something changes.
The downside is that there is a learning curve and the off-the-shelf product may not be exactly how you want your reports to look like (but, customizing the program within some general parameters isn't that hard to do; and, the more of a whiz you are, the easier it would be for you to do it). You will never know their product as well as you would know the spreadsheet/word system you developed.

For a relatively newer appraiser (like myself in the commercial field), I'd recommend the off-the-shelf product.
For a highly experienced appraiser who is word/spreadsheet competent and who has used their own system up to now, it probably wouldn't hurt to at least try it a few times, but the decision may be that it is too much of a hassle to learn vs. the benefits.

Good luck!

 

[Terrel L. Shields]

I use Word Perfect which means I can create spreadsheets within the program without using Excel. The problem I have with Word is you need to screw with "themes" and other BS to get at simple formatting and then you have issues between formatting in Word and Excel.

I have used an older version of Narrative 1. The transition from Word would/should be easier that it was for a WP user. I didn't like it, but a trainee CG I worked with found it much easier than attempting to learn WP.

Ideally even with these programs, you need to "tweak" the report formatting.

 

[Lost Cause]

Seems Like A Waste Of Resources

I have always used Word and Excel. Having never used any of the narrative software programs out there, I am not qualified to offer an opinion on the difference. That said, it is so easy to do in Word and Excel that I find it difficult to believe that the purchase price and learning curve for such software is worth it.

Denis is right when he notes that formatting Word and Excel to just the way you want it can be time-consuming, but once one has a number of completed reports, the formatting becomes a lesser issue.

 

[Ginger528]

Thanks for the replies...I am always looking for ways to increase efficiency and don’t want to get too stuck in my ways. It is good to hear what others are doing! Thanks again.

 

[Terrel L. Shields]

It also helps to set up your templates with all the same fonts and sizes in both Word and Excel.

 

[tsiegel]

I always chime in on this discussion. The trends in software and the industry's reception of the idea is always of interest to me.

I use Datappraise. I originally felt like they were ahead of the curve in terms of advancements as compared to other options. I feel as though they still are, really. However, as others have said about the software options, there is a HUGE learning curve. It is hardly push-button easy and intuitive. I find that you really NEED to know what the software is doing exactly in order to make the best use of it.

So, does it save time writing reports? Well, I would say that it does, in fact, streamline the report writing process, however, lately I am wondering if I have filled that extra time with messing with various quirks in the software. That thought makes me frustrated, but I think it is best to honestly acknowledge it.

Feedback from clients... Well, this is a mixed bag. I have had some positive feedback from my clients about my template and how easy it is to consume, but this has less to do with the software, than it does with how I have arranged my template (which I created based on feedback and input from several of my clients and appraisal consumers). I certainly do use the software to facilitate the features that I have implemented in my template, but it is not impossible to create a good template without the software by any means.

The other side of the coin is that I have had negative feedback that I can trace to issues with the software. I would explain it like this... When you have a spreadsheet with an error in a cell, the entire spreadsheet can be (and often times is) affected. The way the software works there is a database in the cloud that integrates with about 15 - 20 spreadsheets and then the Word document pulls information from the web and these spread sheets. The problem is that it is possible (and a little too easy) to have an error in one cell in one spreadsheet that causes there to be errors all over the report. I once unfortunately made a final edit to a report that included making such an error and the report went out with confusing information all over it. My client was very understanding and patient and forgave me (although I did buy them lunch for their trouble), but it was embarrassing and frustrating. I decided an extra proof reading step is necessary. So, I guess that speaks to the saving time question too.

One other great feature of the software and something that may be completely worth the investment for many is the database utility by itself. When I write a report, I put the information from my subject property into the database (property description, lease information, historic expenses, previous and current sale information) as well as all of the information for all of my comparables. This allows me to reuse the information later with incredible ease. I find that to be a huge benefit.

For me, staying up on the intricacies and inner-workings of the software is worth it to have the benefits that come along with the functionality. However, I have built my entire office around its functionality. I believe that we are more efficient overall because of it (although, I do have other systems in place that do not relate to report writing software that help with this). In the end, it is somewhat difficult to measure.

So, for me, it is worth it, although I could see how it might not be for others.

Hope that helps. If you have any specific questions about Datappraise, private message me. I would be happy to help.

 

[Pamela Bukys]

Does Datappraise allow you to develop a database of comparable sales and leasing information that can be incorporated into future reports?

 

[tsiegel]

Does Datappraise allow you to develop a database of comparable sales and leasing information that can be incorporated into future reports?

Definitely. I think Datappraise does this very well. In fact, it allows you to use the comparable data as well as the subject property as comparable data in future reports. I think Narrative 1 does this too, but it was my sense when I signed up, that Datappraise was a bit more seamless.

 

[tsiegel]

I was just thinking about how all of the solutions out there are a bit less than and it seems there are always plenty of appraisers who just don't want to bother with some new way of doing things (understandably - it takes a lot to figure it out and get up to speed).

I think it would be interesting to discuss (and maybe this should be a separate thread) what type of solution would be seen as making appraisal work more efficient and would be easy enough to adopt to be worth it for those who are apprehensive to seriously consider a software solution. The software options tend to try to offer a database and report writing functionality. The report writing functionality seems to be the piece that a lot of appraisers have an aversion to. In fact, I know some who use Datappraise simply as a database and ignore the report writing portion.

Should these companies be offering different levels of functionalities for different prices? I don't know if it would be worth it for the software companies to offer that type of tiered solution, but I wonder if that would make it more appealing to those who are currently on the fence.

I don't know about you all, but from my seat I don't see fees going up as much as I would like. Seems we NEED ways to be more efficient. Without buy-in from many and obvious demand, the solutions will continue to drag along the "minimally viable product" line and it is going to take forever to have a fully functional easy to use software package.

I would be interested to hear thoughts on that.