Desktop appraisals: bringing the home to the appraiser

COVID restrictions, rolling lockdowns, and the need for social distancing, along with the sheer number of property appraisal requests, have hindered how appraisers carry out their duties.

With ‘boots on the ground’ appraisals constantly interrupted and nearly impossible to complete at times, the methods used to carry out appraisals have been modified — with industry experts engineering new ways to make the job easier.

Innovative technology has allowed the appraisal and mortgage industries to adapt to the pandemic. With the success of this initiative, has come the stark realization that the real estate industry is heading in a permanent digital direction.

For Clear Capital, a leading real estate valuation and technology company, the answer to how to increase appraiser capacity, and improve turnaround time and appraisal efficiency, lies in technology platforms that modernize the manufacturing of collateral underwriting evaluations.

The strain on the appraisal industry dates back to 2017, prior to the onslaught of the pandemic, Kenon Chen, executive vice president of corporate strategy, said.