FieldPRO™ is a new property valuation product from Valuation Solutions, which combines the knowledge a local real estate broker with the expertise of a VS real property valuation professional.
A local real estate broker provides subject property information, comparable sales, and listings for the area. Information on the subject property is obtained via MLS, county records, personal files, or from information provided by the client. The data provided by the real estate broker is then processed through VS exclusive field valuation model. This automated process ranks each comparable listing and sale based on overall similarity to the subject using industry accepted methods. Property attributes are compared to the subject and appropriate adjustments are applied to the listings and comparables in an easy-to-read sales comparison grid.
VS valuation professional reviews the results of the valuation model along with photos of the subject and comparable sales/listings, additional pertinent sales data, and multiple AVM models. A final reconciled value is then provided by the VS valuation professional with supporting commentary. Depending on the client's needs, the reconciliation process may incorporate the review of a previous valuation report.
The FieldPRO™ report contains front and street scene photos of the subject, front photos of the comparable sales and listings, as well as, in most cases, a location map depicting proximity of subject, listings and comparable sales.
FieldPRO™ has numerous uses in the origination, quality control, investor due diligence, and servicing sectors as an alternative to traditional field review and valuation reports. It can be utilized when there are concerns as to the accuracy and consistency of an existing valuation or when there is limited time/resources for a traditional field report.
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