Appraisers face the challenges of insufficient data for their appraisals at all times. More often than not, there could be comparable sales information that the appraiser isn’t even aware of. While many rely solely upon MLS content for information, GeoData Plus offers more to the appraiser. We sat down with Erik Wind, President of GeoData Plus, to further discuss his free upcoming webinar on September 24th at 2 pm EST, “Is Your Data Getting the Job Done?”
Buzz: Thank you for answering these questions for us today. What is your history in the appraisal industry?
Erik: I’ve personally worked at GeoData Plus since 2002, almost since its inception. From the very beginning, GeoData Plus has been designed with appraisers in mind, with many of our appraiser customers being the guiding force behind the development of this service. I’ve learned a great deal from our appraiser customers about the problems they face when it comes to data, and have applied what I’ve learned toward GeoData Plus, which is relied upon by hundreds of appraisers every day.
Buzz: What kind of data is available?
Erik: GeoData Plus brings together public record data, MLS content, and other sources of data into an “all-in-one” property data solution. Using GeoData Plus, an appraiser can look up any property in the United States, and get a tremendous amount of information on it including ownership, building and lot details, taxes, zoning, flood zone, sales history, mortgage history, foreclosure activity, and MLS market activity. They’re also able to search for both closed sales comparables and on-market comparables.
Buzz: Compared to other sources of property data appraisers might use, what is special about this specific software?
Erik: In many cases, appraisers start their search for sales comparables with MLS listings, identify the most relevant comps, and then cross reference those comps against public record(s). This approach is generally effective; however, if properties are sold outside of the MLS, the chances of missing an essential sale comparable is very high. In contrast, GeoData Plus collects every recorded sale. When one searches for comps in GeoData Plus, they see sales that are recorded through public records data and the MLS.
When GeoData Plus users perform a comp search, they see every sale, and each sale indicates the following information:
– If the property was listed in the MLS and at what price and date
– Days on market as calculated using the public record sale date
– The percentage above or below the initial asking price, based on the public record sale price
Buzz: What’s new and coming soon?
Erik: We’re constantly working to add not only additional sources of data into GeoData Plus, but additional ways of interpreting data. Two of our big focuses we have right now are integrations with other technology providers such as forms software and additional data driven valuation tools.
Buzz: Why should appraisers attend this webinar?
Erik: If you’re an appraiser who hasn’t yet taken a look at GeoData Plus, then this webinar is a terrific opportunity to learn more about us and decide if you’d like to try us out. GeoData Plus provides a tremendous amount of property data that isn’t always easy to find, especially in one place. We present the information in a way that’s different than how one traditionally searches for data. Our current appraiser customers speak highly of the services and benefits from it.
Thanks again to Erik for joining us for this interview. Make sure to register here for his free webinar on September 24th at 2 pm EST! Have any comments or would you like to submit an article of your own? Email firstname.lastname@example.org for more information.