9 Best Real Estate Appraisal Software

Real estate appraisals, once a laborious task, are now a breeze thanks to the advent of appraisal software. These advanced tools automate the property valuation process, saving time and effort, all while enhancing the accuracy of resulting estimates.

But unlike a decade ago, a plethora of software tools now exist. To help you select the best one, we conducted extensive market research and curated a list of the nine best real estate appraisal software for 2024.

• DataMaster
• House Canary
• SFREP
• RemoteVal
• ValueLink
• A la Mode
• Bradford Technologies
• ACI
• Real Data 

DataMaster

If you prefer to use in-house collected property data for your appraisals, DataMaster could be one of the best real estate appraisal software choices. It sets itself apart by allowing users the flexibility to obtain their appraisal data from preferred sources, whether the MLS or in-house appraiser measurements. This allows you to tailor your data collection process according to your preferences and specific valuation requirements and generate up-to-date appraisal reports that align with your in-house processes.

Beyond data sourcing flexibility, DataMaster Pro has various features that streamline real estate appraisals. This includes the broad market analysis, which provides vital information about the target property’s broad market, including its demand and supply, the physical characteristics, and the property types. Such data empowers you to comprehensively understand the market’s landscape and identify external factors that influence appraisal accuracy, thus facilitating informed valuation decisions.

Data Master also features the comp tracker, a tool for users to save and share appraisal data with trusted peers. It facilitates collaboration and allows investors and other appraisers to verify the consistency of their appraisal data, ultimately enhancing valuation accuracy. And with the tracker’s easy-to-use permissions, users retain control over data access and utilization. Data Master further promotes appraisal collaboration through the DataMaster Pro Collaboration feature, which allows users to share entire work files at the click of a button.

Adding to its arsenal are plat maps. Users get the first 10 plat maps for free and subsequent ones at an affordable $0.87 each. DataMaster is one of the most popular real estate appraisal software. Examining a few of the features it brings to the table, it unquestionably lives up to the hype.

House Canary

House Canary, founded in 2013, is a forward-thinking real estate brokerage focusing on cutting-edge valuation technology. The company offers software and tech-based solutions to reshape the real estate marketplace.

Its appraisal software stands out for being powered by an Automated Valuation Model (AVM). The AVM marries current property data with deep insights into local markets, demographic information, and geographic datasets. The result is highly accurate property appraisals comparable to reports generated by professional appraisers minus human bias.

Since market conditions constantly change, HouseCanary continuously trains the AVM’s algorithm using decades of historical transactions from millions of residential properties nationwide. This ensures the AVM’s continued optimal accuracy, consistent efficiency, and objective, fair market value predictions.

Even more impressive is that the AVM also boasts image recognition technology, enabling it to assess a property’s condition not just based on data but also using photos to identify damage and even pinpoint various construction materials. This further enhances the accuracy of the resulting appraisal.

Yet, as impressive as it is, the AVM isn’t the only innovative functionality on HouseCanary. Other features we found noteworthy include:

• Agile evaluation: The AVM-generated appraisal undergoes further assessment and certification by a licensed in-house HouseCanary appraiser for added accuracy
• Acquisition appraisal: Ideal for property buyers, this feature allows users to create and edit Buy Boxes with specific property criteria. It then explores the market and updates the boxes with real-time listings matching the buyer’s preferences as soon as they hit the market. Besides individual home buyers, it could prove an invaluable tool for investment properties like house flippers and wholesalers.
• ComeHome: This feature empowers investors to educate clients and equip them with tools for finding homes within their budget. Investors can also use ComeHome to access details for a property they’re considering for investment.

HouseCanary doesn’t stop there; it offers a range of other features, including portfolio monitoring and a property explorer. In essence, HouseCanary offers one of the most technologically advanced appraisal solutions for the real estate market.

SFREP

Creating appraisal reports is a repetitive process that can easily become tedious, especially when you have a large portfolio.

SFREP simplifies the process with tools designed for real estate professionals. Their flagship product, Appraise-It-Pro, offers a Comp Manager to automate the collection of appraisal information and photos. This tool not only simplifies the report creation process but also automatically indexes and files appraisal addresses and photos, enhancing overall organization in wholesaling and other real estate jobs.

SFREP’s appraisal software boasts an Image Manager to facilitate the seamless integration of images into appraisal documents. Users only need to point this tool to their image directory, camera, or card reader, and it will capture, drag, and drop the photos into the designated report, elevating the presentation while getting the hard work out of the process.

SFREP also offers AppraisalPort Export. This tool takes the spotlight by transforming unformatted data and images from appraisals into an AI-ready format file, promoting accuracy while simplifying appraisal report creation.

Taking innovation a step further, SFREP has introduced a market analysis service that populates appraisal reports with MLS data in graphical charts and detailed analysis. This feature enhances the visual appeal of appraisal reports and ensures appraisers have access to current and pertinent market data, eliminating the hassle and obstacles associated with data retrieval from the MLS.

Additionally, the software includes other innovations such as Street and Flood Maps, digital signatures, Inspect-a-lot, an estimator add-on, and even lead generation websites. It ultimately emerges as one of the most comprehensive real estate appraisal software options in the market, addressing the complexities of appraisals and report creation for real estate professionals.

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RemoteVal

Although physical appraisal processes allow for detailed property inspections, they can be time-consuming, resource-intensive, and pose safety concerns, especially for those managing large portfolios or dealing with high-risk areas. In contrast, online appraisals are convenient, cost and time-efficient, and speedy, but their accuracy is limited to available data.

RemoteVal strikes the sweet spot between these approaches by introducing a third option: web-based virtual property inspections.

Utilizing the software’s advanced remote video technology, real estate investors can visually inspect properties and remotely capture property pictures for appraisals.

RemoteVal also offers a floor plan creator, a feature that allows users to create detailed floor plans and even remotely measure the wall thickness of the properties they’re inspecting for appraisal. The company claims accuracy tests demonstrate only a 2% variance in the software-generated plans compared to in-person measurements.

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ValueLink

Seeking a good commercial real estate appraisal software? Check out ValueLink.

ValueLink is a cloud-based software that supports both commercial and residential appraisals and offers a range of appraisal products for various professionals. For instance, Direct, one of its appraisal products, is specifically designed for real estate loan lenders, while Core is designed for Appraisal Management Companies (AMCs).

For regular appraisers and real estate users, Connect is an appraisal software that keeps all data organized in one place, consequently enhancing access efficiency. Connect is available in mobile app format, allowing regular investors to perform property valuations even while on the go.

ValueLink also features a virtual home inspection tool, which, paired with Connect, can help enhance appraisal accuracy. Note that ValueLink offers a 30-day free trial for all its products, charges no set-up fees, and sets no cap on the number of system users, meaning you can set it up for your team at no additional cost.

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A la Mode

A la Mode is one of the most popular real estate appraisal software, but is it worth the hype? Well, it offers a comprehensive suite of products to streamline appraisal processes.

These include Titan Analytics, a tool that allows users to export market data from the MLS and analyze it. It offers them visual tools to enhance their final appraisal reports, such as graphs and pie charts, making even the most in-depth property valuation easy to understand.

A la Mode’s Total for Mobile app further simplifies appraisals by allowing investors and real estate agents to gather valuation data, capture pictures, and complete whole sketches while on the go. The platform also features Titan Office, a tool that allows users to access their workflows and all relevant documents online. What’s more, Titan Office integrates with A La Mode’s mobile app, allowing users access to appraisal documents and all necessary work files even while on the move!

A la Mode’s other features include an online form-filling tool, mileage estimator, flood maps, report delivery, and marketing tools, including customizable websites. The platform wraps up the deal by offering the Assurance Bundle, an insurance policy designed to protect all your reports and office work. In a nutshell, this software offers features addressing not just appraisal but also marketing and document management for real estate.

Read Also: Real Estate Marketing Ideas: The 10 Best Campaign Strategies

Bradford Technologies

From actual property measurements to comps data, a lot of data goes into the appraisal processes. Manually identifying the most relevant data and crunching the numbers for each property you appraise isn’t just time-consuming; it can set your brain cells on fire.

This is where Bradford Technologies software comes in.

It offers Redstone, a tool designed to help investors identify the best comps to use for property valuation. This tool lets you easily transfer this data to your reports by supporting the copy-and-paste function. It further simplifies the appraisal process by allowing you to generate your 1004MC automatically. Bradford Technologies software also offers Team Appraisal and ClickForms to streamline team collaborations. 

ACI

ACI offers appraisal solutions for both individuals and enterprise real estate businesses.

Individual professionals and investors get ACI One, a suite of tools that streamline appraisal, such as public record data for property valuations, and OpenHouse, a feature that allows appraisers to collect property data, including photos seamlessly.

ACI One also features over 500 appraisal reports, ranging from UAD to general-purpose forms, eliminating the need to create reports from scratch. Even more impressive is the advanced form management tool, which allows users to easily fill and populate appraisal forms, as well as save their most frequently used forms for quick access.

ACI One further offers ACI Analytics to help users analyze market conditions, perform statistical analysis, and easily examine property characteristics.

Real Data

If you invest in income properties, revenue analysis is critical to ensuring your profitability.

Real Data, the Real Estate Investment Analysis software, combines appraisal features and revenue analysis, eliminating the need for separate software and as such, bringing efficiency to your processes.

With the software, you can generate comprehensive 20-year income projections for any commercial or residential property. The best part is that you can generate any report, from simple, straightforward revenue analysis reports to sophisticated investment reports for your partners.

What about appraisals? Real Data offers a range of tools for this purpose, including comparable sales analysis, property appraisal reports, and an interactive map feature that lets users visualize and compare appraisal data. 

Factors To Consider When Selecting Real Estate Appraisal Software

Here are some key factors to prioritize when selecting the best real estate appraisal software for your business:

• Data sourcing flexibility
• Available data sources for property valuation
• Ease of use
• Accuracy and reliability
• Customer support
• Scalability
• Additional features such as appraisal report creation tools, plat maps, estimators, and flood maps
• Training and support documentation 

Final Thoughts: Best Real Estate Appraisal Software

Real estate appraisals are inevitable, but they don’t have to be time-consuming and overwhelming. With the best real estate software, you can simplify the appraisal process and streamline how you create appraisal reports.

Each of the software tools recommended above brings unique features to the table. Evaluate your needs based on our factors to consider the most suitable one for your real estate business.

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