Target beneficiaries of the service:
[ebs_list]
[ebs_li type=”glyphicon-arrow-right”]National Specialty Practice Professionals[/ebs_li]
[ebs_li type=”glyphicon-arrow-right”]Professionals working solo.[/ebs_li]
[ebs_li type=”glyphicon-arrow-right”]Appraisers with Advanced Trainees.[/ebs_li]
[ebs_li type=”glyphicon-arrow-right”]Portfolio Managers.[/ebs_li]
[/ebs_list]
XT Direct Value Proposition:
[ebs_list]
[ebs_li type=”glyphicon-ok”]Front End Delivered in 3 Business Days.[/ebs_li]
[ebs_li type=”glyphicon-ok”]Consistent Quality.[/ebs_li]
[ebs_li type=”glyphicon-ok”]Increased Productivity for Appraisers.[/ebs_li]
[ebs_li type=”glyphicon-ok”]Enable Portfolio Managers to Compete and Win.[/ebs_li]
[/ebs_list]
Delivering Value to the Commercial Real Estate Appraiser
The Remote Assistant program is designed to help Appraisers increase productivity and quality, while reducing risk when building their Appraisal Report. This is accomplished by delivering a custom-designed and consistent product, with high efficiency and value in mind. Superior results are achieved through standardized training, evolving checklists, a collaborative approach to the report sections and quality assurance procedures. All our processes are constantly reviewed and improved.
Our Remote Assistant service goal is to provide the Appraisers with the factual information they need for them to be able to complete their reports and for them to determine the property´s value, our package includes the following components:
[ebs_list]
[ebs_li type=”glyphicon-plus”]Identification of the subject property and scope of work interpretation from the work orders and letters of engagement[/ebs_li]
[ebs_li type=”glyphicon-plus”]Data collection, analysis and entry related to the subject property[/ebs_li]
[ebs_li type=”glyphicon-plus”]Regional and local analysis statistics and narratives[/ebs_li]
[ebs_li type=”glyphicon-plus”]Market and submarket analysis statistics and narratives[/ebs_li]
[ebs_li type=”glyphicon-plus”]Property tax analysis[/ebs_li]
[ebs_li type=”glyphicon-plus”]Zoning analysis[/ebs_li]
[/ebs_list]
The Remote Assistant provides Appraisers with several benefits:
- On demand front end production, delivered on a report by report basis
- Lower costs when compared to existing Appraiser assistant costs
- Consistent training, processes and quality delivery
- No loss in productivity associated with vacation or personal down time
- No personnel turnover costs, including new assistant training down time
- No added out-of-pocket bonuses or benefits to be paid
Appraisal Remote Assistant Package
Our standard package includes the following components of the appraisal report:
[ebs_list]
[ebs_li type=”custom” icon=”glyphicon-asterisk” icontype=”glyphicon” iconcolor=”#449edd”]Identification of the subject property[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-asterisk” icontype=”glyphicon” iconcolor=”#449edd”]Data collection, analysis and data entry related to the subject property[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-asterisk” icontype=”glyphicon” iconcolor=”#449edd”]Subject property exhibit design[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-asterisk” icontype=”glyphicon” iconcolor=”#449edd”]Regional and local analysis statistics and narratives[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-asterisk” icontype=”glyphicon” iconcolor=”#449edd”]Market and submarket analysis statistics and narratives[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-asterisk” icontype=”glyphicon” iconcolor=”#449edd”]Property tax analysis[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-asterisk” icontype=”glyphicon” iconcolor=”#449edd”]Zoning analysis[/ebs_li]
[/ebs_list]
The front end report is delivered in a folder bundle, described as follows:
[ebs_list]
[ebs_li type=”custom” icon=”glyphicon-star” icontype=”glyphicon” iconcolor=”#449edd”]Graphics: Contains exhibits including flood maps, parcel maps and zoning maps.[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-star” icontype=”glyphicon” iconcolor=”#449edd”]Market: Contains market database files and market report files related to the market analysis.[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-star” icontype=”glyphicon” iconcolor=”#449edd”]Property: Contains the sources of information for the report, including exhibits of measurements and analyses done from satellite imagery sources.[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-star” icontype=”glyphicon” iconcolor=”#449edd”]Work: Contains the Excel and Word files and a Report Log Word file, reportedly one of the most important value-added documents we prepare. The Report Log briefs the Appraiser regarding the sources of information, any municipal inconsistency in the collected information and regarding distinctive or contradictory attributes discovered regarding the subject.[/ebs_li]
[/ebs_list]
Our Procedure
The Appraisal Remote Assistant Package uses a highly efficient process to generate the factual portion of the Commercial Real Estate Appraisal Report. To do this we have five teams working together and in parallel:
[ebs_toggles]
[ebs_toggle title=”Property Excel file” icon=”glyphicon-chevron-right” icontype=”glyphicon” iconcolor=”#449edd”]The Property Excel file team, is the first to get engaged since they confirm the locality and number of parcels that comprise the subject. This team covers the most extensive part of the report. The Property Excel file team work with several types of commercial real estate. Our procedure incorporates general subject-specific property information.
Our primary and most important sources of information are municipal records. Additionally we use RealQuest, CoStar, LandVision and additional supporting documents provided by the Appraiser. We also handle the valuation methodology, Appraiser information, site description details and improvement description details.
We also include information from the Engagement Letter, such as the property rights appraised, valuation scenario, dates, client information, requirement guidelines and intended use and user of the report.[/ebs_toggle]
[ebs_toggle title=”Tax Analysis” icon=”glyphicon-chevron-right” icontype=”glyphicon” iconcolor=”#449edd”]The taxes section of the report performs investigation and analysis of the subject property assessment, latest yearly property tax charges and municipal assessment mechanisms. The team stresses the importance of the tax calculation process. They use the same process used by tax authorities or by special Appraiser request, depending on specific market requirements.
The taxes analysts ensure the tax analysis accommodates special scenarios, such as assessment reductions, exemptions, benefits, credits, discounts, penalties.
The team also researches and completes tax comparables when provided by the Appraiser, using the same process used for the subject.[/ebs_toggle]
[ebs_toggle title=”Zoning Analysis” icon=”glyphicon-chevron-right” icontype=”glyphicon” iconcolor=”#449edd”]The zoning team provides a research of the subject’s zoning district, analysis of compliance with municipal zoning requirements and analysis of permitted and non-permitted uses of the subject’s land.[/ebs_toggle]
[ebs_toggle title=”Regional and Local Markets” icon=”glyphicon-chevron-right” icontype=”glyphicon” iconcolor=”#449edd”]The Regional and Local Market team gathers local and regional statistics, researches regional top employers, develops custom market and submarket analyses and creates narratives and charts of the immediate area’s largest properties.[/ebs_toggle]
[ebs_toggle title=”Narrative” icon=”glyphicon-chevron-right” icontype=”glyphicon” iconcolor=”#449edd”]The narrative team researches the regional, local and immediate areas of the subject and provides prose that accompanies the regional and local analyses in the report.[/ebs_toggle]
[ebs_toggle title=”Quality Assurance” icon=”glyphicon-chevron-right” icontype=”glyphicon” iconcolor=”#449edd”]The Quality Assurance team performs a general review of the content precision and consistency of all report sections. The team will merge the report’s sections into the Word report file and prepares it for delivery to the Appraiser.[/ebs_toggle]
[ebs_toggle title=”Additional services” icon=”glyphicon-chevron-right” icontype=”glyphicon” iconcolor=”#449edd”]Comparable Entry
The Comparable Entry process consists of logging properties that have been sold or leased, and belong to one or various sets of comparables. Those sets are used by Appraisers to compare the subject property to properties with similar characteristics. The comparable properties information is confirmed by using the information provided in public records, CoStar, and RealQuest.
Once the property has been entered, the Appraiser will receive an Excel sheet that contains the job IDs, Hive links, as well as Box links for each specific Box folder. In this folder, the Appraiser will find every supporting document used in the comps completion and a set of notes explaining our data selection process and inconsistencies worth mentioning.[/ebs_toggle]
[/ebs_toggles]
Other Services
XT Direct is capable of developing the following services:
[ebs_list]
[ebs_li type=”custom” icon=”glyphicon-certificate” icontype=”glyphicon” iconcolor=”#449edd”]Transaction Due Diligence.[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-certificate” icontype=”glyphicon” iconcolor=”#449edd”]Contract Administration.[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-certificate” icontype=”glyphicon” iconcolor=”#449edd”]Property Management Back Office[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-certificate” icontype=”glyphicon” iconcolor=”#449edd”]Brokerage Support.[/ebs_li]
[ebs_li type=”custom” icon=”glyphicon-certificate” icontype=”glyphicon” iconcolor=”#449edd”]Portfolio Managers.[/ebs_li]
[/ebs_list]
