Why pay for 3,6 software

[Doug Wegener]

People have posted in here screenshots before, just run a search.

But fwiw, I actually do like and am a proponent of the Reggora model of bypassing the parasite AMCs.

I like it as well. It is more money in the appraisers pocket.

 

[cashcatz]

killing the inspection with PDCs

https://www.homeinspector.com

 

[Digger88]

what they are doing with that "free" data you are feeding them (esp. on appraisals that originate from outside of their platform












When a tech company gives away software for free, skepticism about data privacy is completely justified. According to Reggora’s public disclosures and their official privacy terms, they are not selling or monetizing your appraisal data to third parties. [1]
Instead, they are using the platform to capture your workflow ecosystem. [1]

1. The Official Policy: No Third-Party Data Selling
Per the Reggora Privacy Policy, the company explicitly states they do not share personal information or consumer transaction data with third parties, unless legally required by regulators or law enforcement. Because they are verified by Fannie Mae and Freddie Mac, they are bound by strict federal compliance rules regarding non-public personal information (NPPI) and Gramm-Leach-Bliley Act (GLBA) data security requirements. [1, 2]

2. What Happens to "Outside" Appraisal Data?
If you process an appraisal that originated outside of Reggora (e.g., direct-lender, a competitor AMC, or private fee work), Reggora uses that data to feed their internal infrastructure in three primary ways: [1]

• Building a Cloud Comp Library: When you enter sales, listings, or rental data, that data is indexed into your own localized comp library within the browser-native workspace. Over time, Reggora builds an aggregated database of property attributes to power their AI-ranked comps tool and auto-fill logic. [1]
• The "Trojan Horse" for Revision Cleanups: If you write an outside report in Reggora Forms and export it, the outside lender or AMC will still send back revisions. Reggora's stated goal is to build an ecosystem so seamless that the outside lender eventually says, "Why are we using our clunky portal? Let’s just use Reggora’s lender platform." Your data remains protected, but your workflow becomes their best sales pitch. [1, 2]
• System Optimization & Usage Behavior: Reggora reserves the right to track geographic data and usage metrics (how long forms take, click rates, errors caught) to optimize their servers and diagnostic tools. [1]

3. The Real Monetization Strategy
Reggora is open about the fact that they don't need to sell appraiser data because lenders pay them thousands of dollars to run their internal appraisal desks. Lenders pay Reggora for core infrastructure: LOS integrations (Encompass, Byte), automated QC risk reviews, and accounting/payment fee routing systems. [1, 2]
Giving appraisers a free tool ensures that when a Reggora-partnered lender pushes an order to an appraiser, the appraiser can accept and complete it instantly with zero friction. [1]

some people just love to find fault w anything ever, even maximally beneficial to us free shii. bigger picture is this things grows into a monster and Cotality has to scoop it up then put it behind a paywall

 

[Allen Bottiger]

Has anyone had any experience with ValueMate?

 

[J Grant]

Is the Regorra software usable on other platforms, or only through their platform or for their in-house orders?

It seems like Regorra operates on two tracks - one as a portal for clients to order appraisals and those clients pay good fees

Their other footprint appears to be an in-house AMC-type company that advertises 24-hour appraisals and the like.

 

[Doug Wegener]

Is the Regorra software usable on other platforms, or only through their platform or for their in-house orders?

It seems like Regorra operates on two tracks - one as a portal for clients to order appraisals and those clients pay good fees

Their other footprint appears to be an in-house AMC-type company that advertises 24-hour appraisals and the like.

They say it is.

 

[Doug Wegener]

Here is what I am seeing about Regorra. You can import comps directly into your grid from the MLS. ACI does not appear to offer that except you use a third party service like data master at additional expense. That seems to me like a significant advantage. Am I wrong?

 

[CCAAMO]

Has anyone had any experience with ValueMate?

sounds like a low budget dating app

 

[Cob]

If it's free, then you are the product. Ask them what they are doing with that "free" data you are feeding them (esp. on appraisals that originate from outside of their platform). Remember when they said 24hr appraisals and the guy who runs that company yelled at and insulted appraisers on LinkedIn (and blocked them)? Next it will be 10min appraisals meaning no appraiser in the process any more because you helped train their AI/AVM algos with "free" data.

EVERYONE is taking your data.......

 

[J Grant]

Here is what I am seeing about Regorra. You can import comps directly into your grid from the MLS. ACI does not appear to offer that except you use a third party service like data master at additional expense. That seems to me like a significant advantage. Am I wrong?

Data source with Alamode would do the same.

Frankly, what is the big time savings vs. entering your own data... importing directly from MLS can mean half the data is wrong, so it needs to be checked and corrected anyway. You still have to c choose the comps in MLS, so it knows what to import.

Regorra might start off as free, then in six months decide to charge people after they have already dropped their other software. Not saying that will happen, but it could. The problem I have with these companies wrt their software is they brag that an appraisal can be done in an hour, which is BS - but the clients and others will pounce on it to lower fees or refuse to raise fees. After all, it only takes an hour...

No matter how fast we are, it will not generate more work - there is a finite amount of loans made using appraisals at any given time.