Patent Application
20180150925
The present disclosure relates to computer systems and processes for improving the speed and efficiency with which property studies, including appraisals and BPO (Broker Price Opinion) studies, are conducted, including the generation of associated reports.
Appraisals of real estate properties are typically conducted by self-employed appraisers, or by business entities that employ a number of appraisers. When a business entity that employs appraisers receives an appraisal order (typically from a lender), the business entity ordinarily decides whether to accept the order, and then assigns the accepted appraisal task to a particular appraiser, such as an appraiser assigned to corresponding geographic area. The appraiser then typically conducts online research to obtain information about the property and comparable properties. The appraiser then typically visits and photographs the property being appraised and the comparable properties. Following those visits, the appraiser typically uses online appraisal report generation software to upload the photos and create an appraisal report. BPOs and other types of property reports may be generated in a similar manner.
The process by which appraisals are commonly conducted is inefficient in a number of respects. For example, multiple appraisers may visit and photograph the same property in a short period of time, such as when that property is selected as a comparable property for appraisals assigned to different appraisers. As another example, a given appraiser may have to travel to the same remote neighborhood multiple times in a short time period (e.g., on back-to-back days) as the result of the corresponding appraisal orders being received at different times. As another example, appraisers typically spend a significant amount of time uploading the property photographs they take, and incorporating them into the corresponding appraisal reports. These and other inefficiencies adversely contribute to the average cost and completion time of the appraisal process.
The present disclosure describes an appraisal workflow platform that addresses the above and other inefficiencies. Specific, non-limiting embodiments of the platform will now be described with reference to the drawings. Nothing in this description is intended to imply that any particular feature, component or step is essential.
As shown in
In some embodiments, the mobile application 30 may also (or alternatively) be used by non-appraiser users tasked with collecting photos for appraisal reports. Thus, although the following description focuses primarily on use cases in which the users are appraisers, the disclosed processes and features are also applicable to users who are not appraisers.
As shown in
As further illustrated in
When an appraisal report is initially generated by or with the appraisal report generator 48, the report typically specifies the addresses of the comparable properties (“comps”), but lacks the photos of some or all of these comps. The initial report may also lack the photos of the appraised property. This is illustrated by the question marks in
As shown in
As illustrated in
The workflow generator 70 may, in some embodiments, assign a photo generation task/visit to an appraiser who is not assigned to the associated appraisal (where applicable laws permit such assignments). For example, Appraiser A may be assigned to a given appraisal (e.g., by the appraisal bundling and scheduling component 42), who may create an incomplete appraisal report for which photos are needed for a given comp. The workflow generator 70 may then assign the task of taking these comp photos to Appraiser B (e.g., because Appraiser B is closer, or scheduled to be closer, to the comparable property). This ability to distribute the workload associated with a given appraisal report among multiple appraisers enables the appraisal reports to be completed faster, more efficiently, and less expensively.
In some embodiments the workflow generator 70 may generate a workflow for an appraiser “on demand” in response to a request from an appraiser. For example, when the appraiser opens the mobile application 30, the appraiser may be given the option to “create workflow based on current location.” (An option may also be provided for the appraiser to specify a different location, such as by entering an address, a ZIP code, or or city name.) In connection with this option, the appraiser may be given the option to specify one or more constraints, such as an amount of time available or a maximum number of properties to visit. If the appraiser proceeds with this option, the workflow generator 70 may access the database 50 to check for properties for which photos are needed, and may build a custom workflow for the appraiser. Visits that are assigned to an appraiser's workflow may be marked as such in the database 50 so they are not assigned to another appraiser.
The workflow generator 70 may also send push notifications (or other types of alerts, such as text messages) to the mobile device 32 of an appraiser regarding opportunities to photograph nearby properties. For example, when an incomplete appraisal report is generated having a “photos needed” flag set for a particular property (such as a comp), the workflow generator 70 may check to see if any appraisers (or other users of the mobile application 30) are currently within, or are scheduled to be within, a threshold distance of the property, and may send a proactive notification to any such appraisers. (The mobile application 30 may periodically send device location information to the appraisal workflow platform 40 to support this feature.) The notification may give each such appraiser the option to accept to decline the opportunity to photograph the property, in which case the first to accept may “win” the opportunity.
In some embodiments the system 40 may use geofencing to instruct the mobile devices 32 and mobile application 30 regarding tasks. For example, the system 40 may instruct a mobile device 32 to report its entry into one or more specific areas. Upon reporting entry into one of these areas, the system 40 may assign to the mobile device 32 and its user a particular task falling in that area, or may prompt the user to accept the assignment. With this approach, the mobile device 32 need not periodically report its location to the system 40.
As an appraiser visits the properties and takes the associated photos, the mobile application 30 (which may include camera functionality) automatically uploads these photos to the appraisal workflow platform 40. The platform 40 then uses the location information (e.g., property addresses or GPS coordinates) associated with each photo to automatically populate the corresponding appraisal reports in the database 50. This auto-population functionality is represented in
As one example based on the incomplete appraisal reports shown in
As will be apparent from the foregoing, the disclosed system is capable of improving the speed and efficiency of the appraisal process in multiple ways. First, because the photos are uploaded during the property visits and automatically added to the associated appraisal reports, the reports can be completed faster and with less manual work. Second, because property photos are re-used, where possible, redundant visits to properties are reduced or avoided. Third, because property visits (and associated photo generation tasks) are assigned using optimization criteria, as opposed to simply being assigned to the appraiser to whom the appraisal is assigned, the workload can be distributed much more efficiently, resulting in less average time spent and distance traveled per appraisal.
Additional savings can be achieved in some embodiments where, as described above, incoming appraisal orders can be bundled. For example, by predictively delaying the processing of a new appraisal order, the system may enable that order to be bundled with a subsequently received appraisal order involving a nearby property. The associated property visits may then be assigned by the workflow generator 70 to a common appraiser and outing, reducing the need for multiple trips to the area.
In some scenarios, the mobile application 70 may prompt the user to specify the property being visited, as shown in
Once the user confirms a visit to a particular property, the mobile application 70 may prompt the user to take a sequence of photos of the property.
The mobile workflow application 30 may also include one or more modes in which appraisers and other users can complete tasks without the use of pre-generated workflows. For example, in one such mode, the mobile application 30 may, when running, continuously monitor the location of the mobile device 32, and display notifications of nearby properties for which photos are needed. From this display, the user can accept the task of visiting and photographing a given property. In some embodiments, the workflow system may implement a bidding process that enables the appraisers to bid on particular tasks, in which case the system may assign the task to the highest bidder. The process may otherwise be the same as shown in
In block 102, the process selects, or receives a selection of, a plurality of comparable properties (comps) for the property to be appraised. The task of selecting the comps is ultimately performed by the appraiser. The appraisal report generator 48 may inform the appraiser of existing photos to facilitate the re-use of property photos. One embodiment of a process for selecting or suggesting comps is shown in
In block 104, the process identifies any preexisting photos (of the subject property and/or the comparable properties) that can be re-used. In one embodiment, this task involves searching the appraisal reports database 50, or a supplemental data database of approved photos, for photos tagged with the property address or GPS coordinates of the subject property or a comparable property. Photos taken more than N months ago (e.g., six months) may be disregarded in performing this search so that only recent photos are re-used. In some embodiments the workflow system may also provide an option for the appraiser to purchase or license a property photo from its copyright owner or another authorized source.
In block 106, the process pushes the appraisal report to the database 50 with a “photos needed” flag set for any property for which photos are still needed. As explained above, these flags are used by the workflow generator 70 (
In block 108, as incoming photos are received (from the mobile devices 32 of one or more appraisers) that match the property addresses for which photos are needed, the location-based photo population component 72 (
For example, if the newly created appraisal report has the “photos needed” flag set for the property at 123 Main Street, the task of photographing the property may automatically be assigned by the workflow generator 70 to a particular appraiser or other user; once the appraiser visits the property and takes the photos, the appraiser's mobile application 30 will upload them in connection with the property address, and the location-based photo population component 72 will add them to the appraisal report (and any other appraisal reports for which these photos are needed) and clear the associated “photos needed” flag(s).
In addition to photo re-use, the workflow system may enable appraisers to re-use other components of appraisal reports. For example, properties in the same neighborhood should include the same or a similar market conditions addendum. Thus, when an appraisal order is processed, the workflow system may search the database to determine whether a preexisting appraisal report exists from which a market conditions addendum can be taken for re-use. Adjustments (the value of a bedroom, bath, etc.) can be re-used in a similar manner for properties falling in the same neighborhood and price tier.
At any point during the process of
The appraisal workflow platform 40 may, in some embodiments, implement a process for compensating appraisers and other users when their photos are re-used by others. For example, the platform 40 may charge an appraisal entity for re-using photos taken by another appraisal entity, and may pay all or a portion of this amount to the source appraisal entity. As another example, the platform may implement a reciprocity system in which those who share photos with others are permitted to proportionally re-use photos taken by others.
In block 120, the process selects the first (or next in subsequent iterations) candidate comp on the list, and in block 122, determines whether photos available in the databased from a prior appraisal of the property in the last X months can be re-used as comp photos for the candidate comp. If the answer is yes, the appraiser is notified that existing photos can be re-used, and is prompted to select the property to use as a comp (block 124). The preexisting photos may be displayed to the appraiser at this point to assist the appraiser in deciding whether to select the property and re-use the photos.
If the determination in block 122 is negative, the process in block 126 determines whether photos obtained for a prior comp report on the candidate property in the last X months can be reused as the comp photos for the candidate comp. If the answer is yes, the appraiser is notified that existing photos can be re-used, and is prompted to select the property to use as a comp (block 124).
If the determination in block 126 is negative, the process in block 128 determines whether an appraisal of the currently-selected candidate comp is expected (e.g., scheduled or ordered). This determination may be based, e.g., on the database of appraiser workflows 78 and/or the database of appraisal orders 44. If the answer is yes, the property is selected as a comp (optionally with confirmation by the appraiser), and the appraisal report is populated with a placeholder flag to indicate that photos are expected.
If no upcoming appraisal of the candidate property is scheduled in block 128, the process in block 132 determines whether the candidate property is selected as an upcoming comp for another appraisal report. This determination may be based, e.g., on the database of appraiser workflows 78 and/or on the incomplete appraisal reports stored in the database 50. If the answer is yes, the process in block 130 selects the property as a comp for the current appraisal report (optionally with confirmation by the appraiser), and populates the current appraisal report with a placeholder flag to indicate that photos are expected.
In block 134, the process determines whether a sufficient (e.g., predefined or appraiser-selected) number of comps have been selected for the current appraisal report. If an insufficient number has been reached, the process is repeated using the next candidate comp property. If the process of
In block 154 of
As explained above, the workflow generator 70 may also assign tasks and generate workflows in other contexts or modes, such as an “on demand” mode that allows an appraiser to request and immediately obtain a workflow or a single-task assignment.
In block 150, the process determines whether the new appraisal order can be bundled with a pending appraisal order, such as an order whose processing has been predictively delayed via block 158, described below. This task involves determining whether any pending appraisal orders exist for properties that are within a threshold distance (e.g., 5 miles) of the property corresponding to the new order, and/or that have preferred availably for inspection. The threshold distance may, in some embodiments, be dependent upon the population density of the associated region. If the new order can be bundled with a pending order, the two orders are linked together (block 152) for purposes of assigning and/or scheduling the appraisals (block 160), such that the property visits to the associated properties are, or at least can be, performed by the same appraiser on the same day. In one embodiment, when two linked orders are assigned to an appraiser, the system notifies the appraiser that the orders are linked. In some embodiments the process may enable three or more appraisal orders to be bundled; for example, a delayed appraisal order may be bundled with two or more later-received appraisal orders that come in during the delay period.
If the new order cannot be bundled with a preexisting order, the process in block 154 uses the database of historical data 46 to calculate the probability of receipt of a new appraisal order, within a threshold period of time (e.g., 12 hours or 1 day), that can be bundled (due to the distance condition being satisfied) with the received order. In one embodiment, the process initially identifies all prior orders (e.g., within the last year or N years) for properties falling within the threshold distance (e.g., 3 miles, 5 miles, etc.) of the subject property. From this data, the probability can be calculated in various ways. For example, the probability can be calculated without regard to the timing with which the historical orders were received over the relevant time period. Alternatively, the process may use an algorithm that accounts for seasonal cycles or trends in the data; for example, if the new order is received during a particular day of the week or month of the year in which appraisal rates are relatively high, the probability calculation may account for this. The probability calculation may also give more weight to recent historical data (e.g., orders received over the last month or N months) than to older historical data, so that population density changes and recent appraisal treads are better reflected.
In block 156, the calculated probability is compared to a probability threshold (e.g., 40%, 50% or 60%) to determine whether to delay processing of the new order. If the threshold is satisfied (e.g., meets or exceeds the threshold), the process in block 158 delays the order for the threshold time period (or another selected time period), such as by holding it in an electronic queue. If another order arrives during this time period that can be bundled with the delayed order, the two orders will be linked together as described above with reference to block 152; otherwise, the order will be processed in block 160 once the threshold time period expires.
The process of
Referring again to
The various data repositories 44, 46, 50, 74, 78 shown in
The mobile devices 32 may include smartphones, tablet computing devices, laptop computers, smart watches, computerized eyewear devices, and other types of portable wireless devices capable of running applications. The mobile application 30 may be implemented in executable program code that is stored in the non-transitory computer storage (e.g., solid state memories) of the mobile devices 32. All of the processes and process steps described above (including those of
Conditional language used herein, such as, among others, “can,” “could,” “might,” “may,” “e.g.,” and the like, unless specifically stated otherwise, or otherwise understood within the context as used, is generally intended to convey that certain embodiments include, while other embodiments do not include, certain features, elements and/or steps. Thus, such conditional language is not generally intended to imply that features, elements and/or steps are in any way required for one or more embodiments or that one or more embodiments necessarily include logic for deciding, with or without other input or prompting, whether these features, elements and/or steps are included or are to be performed in any particular embodiment. The terms “comprising,” “including,” “having,” and the like are synonymous and are used inclusively, in an open-ended fashion, and do not exclude additional elements, features, acts, operations, and so forth. Also, the term “or” is used in its inclusive sense (and not in its exclusive sense) so that when used, for example, to connect a list of elements, the term “or” means one, some, or all of the elements in the list.
While the above detailed description has shown, described, and pointed out novel features as applied to various embodiments, it can be understood that various omissions, substitutions, and changes in the form and details of the devices or algorithms illustrated can be made without departing from the spirit of the disclosure. As can be recognized, certain embodiments described herein can be embodied within a form that does not provide all of the features and benefits set forth herein, as some features can be used or practiced separately from others. The scope of certain embodiments disclosed herein is indicated by the appended claims rather than by the foregoing description. All changes which come within the meaning and range of equivalency of the claims are to be embraced within their scope.
