Adding VAL
to your appraisal letters
Adding VAL
to your appraisal letters
One of the reasons why the industry has not switched off systems in decades is that appraisers think that you, their customers, want them to use a specific system. Yet when we have talked to customers, they are far more flexible. Help your appraisers by giving them the choice! When appraisers have the choice of what they use, everybody wins.
The How
You are likely sending the Appraiser a letter outlining your request. Make sure that the letter either:
(a) tells them they have a choice, or
(b) specifically labels VAL as a valid choice.
For example:
If the valuation of the property includes the Income Capitalization Approach (both direct cap and discounted cash flow analyses), you are [required/requested/encouraged] to utilize Rockport VAL. The VAL model and reports shall be provided using the Rockport VAL platform ‘Share’ feature.
Silence leads to misunderstanding.
What if I'm an Appraiser?
Ask your client! We and third parties have done extensive research, and found that appraisal buyers very often are ok with you using whichever platform you would like. They want you to use the platform that you feel most comfortable in as it will allow you to most accurately and efficiently value the property.