Valcre Appraisal Software

[cashcatz]

I have conducted a comprehensive review of all available commercial software packages. Ultimately, the decision hinges on your budget and whether the investment will yield sufficient returns through their services. In light of this, I opted for an alternative approach by developing a custom solution.

I created a Microsoft Word and Excel workbook, complemented by a VBA script to facilitate the merging process between the two applications. Additionally, I established an MS Access database to efficiently store my comparables, client information, and appraiser data. This structure allows for seamless integration into the Excel workbook, which then populates the Word template I designed

Not to knock your setup (ton of respect for DIY), but I can assure you that CRE firms using a modern narrative software package is running circles around those using their home-grown Word/Excel/VBA scripts. I'm talking 50%+ time savings, not to mention better accuracy and more consistant professional looking reports.

 

[Timothy Hogan]

Not to knock your setup (ton of respect for DIY), but I can assure you that CRE firms using a modern narrative software package is running circles around those using their home-grown Word/Excel/VBA scripts. I'm talking 50%+ time savings, not to mention better accuracy and more consistant professional looking reports.

wanted to discuss the balance between cost, time, and data management preferences in our industry. After having my agreement reviewed by an attorney, I have clarity on the usage rights for the data I create, which can certainly be shared if the client desires.

I’ve successfully increased my turnaround time by 45%, and while I recognize it's not quite 50%, it's still a significant improvement. I believe the ideal clients for larger, paid services are those with multiple employees and office setups where data synchronization via the web is essential.

I understand you have a strong technical background in IT, and I appreciate your expertise. I did engage a programmer's assistance after establishing the foundational framework of my operations.

Having previously used Narrative 1 Commercial Software, my team and I moved away due to concerns regarding its web-based nature. The reliance on internet connectivity posed a risk to productivity, and the annual increases in costs for features that aren't necessarily pertinent to smaller offices were unsustainable for us.

 

[Terrel L. Shields]

modern narrative software package is running circles around those

My templates equal the speed of the Narrative program I used. But since I built it and spent 20 years updating same, I should be faster. But the program I used with another appraiser created a lot of white space, and reports were probably 40 pages longer, often over 100 pages.

 

[cashcatz]

My templates equal the speed of the Narrative program I used. But since I built it and spent 20 years updating same, I should be faster. But the program I used with another appraiser created a lot of white space, and reports were probably 40 pages longer, often over 100 pages.

You might think so but the modern narrative software has built in data and comp database integrations, trends and other data. I can absolutely guarantee that CRE appraisers using them are out producing everyone else who's got home-grown word/excel setups. They are really worth a revisit / demo (realquantum, valcre, startdeck).

 

[Terrel L. Shields]

I’ve successfully increased my turnaround time by 45%,

I use WordPerfect because it has embedded spreadsheet functions far superior to Word. My reports are broken up into 3 parts - an intro summary merge file. A template fill-in exhibits page, and the approaches page. I have multiple versions of each and vary by state. And checkboxes via macros create quick ways to certify what I did or did not do.

A vacant land tract normally takes me about 2 hours to fill in and publish to pdf. The rest of my time is the inspection and finding/analyzing comps. A residential report might take 2-3 hours to write, a commercial one maybe 4 hours. Mineral reports depend upon the size of the property. But the summary of same is generally less than one hour.

Having previously used Narrative 1 Commercial Software, my team and I

Like you I found Narrative 1 did not save me a single minute. And it created too much white space, and too many sections were not applicable. And deleting anything in Word, shifts graphics to Lord only knows where or how to get them back where they belong.

 

[RCA]

I have to kind of chime in with Terrel: If you want to use VALCRE - you still have to get CoStar for the data. And having worked at CBRE, they had starter Word templates for the different kinds of commercial appraisals, plus a ton of existing appraisals from all across the United States, that we had access to if we ran into something out of the ordinary. For those used to doing reports, the issue wasn't so much doing the report, it was getting, organizing and loading the data in to Argus and Excel and then getting all the computations to sync in Excel. And to the purpose we had complex Excel templates to work with, that had complex formula. We also had databases of comps. We also had CoStar and other tools. But getting Lease Data - was the biggest problem that was probably the major obstruction.

However, VALCRE or say Narrative Appraisal is probably more useful for very small outfits, especially someone who hadn't yet worked for a large appraisal firm.

Now, I haven't used VALCRE, but I can't be impressed with it if it doesn't have the data. CoStar. You do know what CoStar costs? $1,000-$2,000/month with limited coverage. A number of appraisers are supposedly paying up to $40,000/month.

Even with CoStar - you often can't get the lease data you need. Often brokers sit on the data and won't even let appraisers working the the same company access it. Oh, and there is very often other data you need that is virtually impossible to get.

The problem with Commercial is getting the comps. And VALCRE is not going to help you there.

CoStar is the giant. But you will still need your own internal database and legs to go and get the data yourself when needed.

I am building my own report software, that is intended for all kinds of appraisals. But I would say it is very highly advanced. Multiple languages, a Prolog (Logic Programming) "Orchestrator", RabbitMQ, R, Python, C++, Quarto, Latex, parallel programming, Docker Containers (via OrbStack), knit, .... OK, it may be too complex for any one to use. But we'll see. Anyway I am having fun, as long as my Mac Studio can keep up.

BTW, VALCRE founders are from Oregon, Willamette University grads.

 

[cashcatz]

Like you I found Narrative 1 did not save me a single minute.

Narrative 1 is ancient, hasn't been updated in 20 years. Give the new narrative options a look, they are good. Firms using them are running circles around those who aren't. I really mean it - they are just smoking all the appraiser diy hobbyists in terms of production turn around.

 

[cashcatz]

The problem with Commercial is getting the comps

Isn't that the truth. I used to have a to "secret shop" assisted living rent comps while posing as a guardian of my senior parents. Even Costar didn't have that type of data at any price.

 

[RCA]

Isn't that the truth. I used to have a to "secret shop" assisted living rent comps while posing as a guardian of my senior parents. Even Costar didn't have that type of data at any price.

I just ran off the first test report using my report system a couple of day old. I didn't touch the configuration. It just ran. But a real commercial report is of course a hell of a lot more complicated. Still, I'm happy with progress. Not surprisingly I spend a lot of time improving my California residential real estate data. Merging in all kinds of extraneous data like mortgage rates, defining neighborhoods from scratch, adding elevations, economic indexes and so on and so on. The MLS broker feeds stop sending school district and school ids for DEI issues. But I've got them in my prior generation databases created years ago.

 

[Zoe]

Okay, look at these appraisers doing their DIY software plan. Think about how hard it is for them to get market data for the properties they appraise however they have local resources in the market(s) they work.

How many appraisals would they have to complete in a year using some of these appraisal software programs to make up the time saved from the software program and the cost of the software? If their homebuilt program takes an hour or two longer (speculation)? Is the cost of the software worth it to them when they are completing assignments with their own program and system they already have?????

I don't know. If you can break it down to per minute or hour on efficiency?

I can see a firm like CBRE using the programs but I can buy or get data from a firm or other firms like CBRE. Many times, I am the data source from local market research.