DataQuick, a provider of advanced real estate information solutions powered by data, analytics and decisioning, has announced the release of AppraisalQ, a new appraisal and broker price opinion (BPO) review tool. AppraisalQ evaluates and scores valuations based on six criteria: Appropriateness of sales comps, sales comp adjustments, accuracy of property value, accuracy of assumed market conditions, administrative accuracy and potential fraud.
“AppraisalQ is the culmination of our company’s three strengths—high-quality data, innovative analytics and automated decisioning,” said John Walsh, president of DataQuick, “combined to meet our industry’s greatest demand and possibly most detrimental weakness in valuation evaluation.”
AppraisalQ enables clients to select and weigh the criteria that are most important to their business. Once the analysis is complete, AppraisalQ provides an overall evaluation of the appraisal or BPO, specific recommendations to guide the review process, and a full audit trail to defend against future claims of under- of over-valuation.
“AppraisalQ does more than offer data and numbers,” said Walsh. “The tool provides specific recommendations to a lenders review staff that are configurable to specific business requirements.”