Rockport VAL: Consistent, Reliable, and Streamlined Appraisal Reviews for Banks and Lenders

The main reasons banks prefer VAL over other options in the market really come down to consistency and reasonability. My name is Tim Benz. I'm director of sales at Rockport Group, with a focus on Rockport VAL. So, when we speak about consistency, we're really speaking to whether or not the narrative matches the model and vice versa. Within VAL, the assumptions check report is the place you're going to find that information. For example, growth rates and vectors for certain expenses. Right. Are they smooth or are there any jumps?

You also have the option of reviewing tenant improvements and commissions and see how they apply on the rollover assumptions, and to see if they're in line. All found in one place, save you a whole bunch of time not having to navigate through someone else's model and their data, and trying to find where those numbers are. Reasonability is really what it sounds like, determining if what was put in the model is reasonable compared to the market. The scenario comparison tool is really at the heart of this.

You're able to compare different scenarios that you've created off the same set of data, right, so you can stress and interrogate the appraisers' assumptions without affecting at all the integrity of the model. Users also have the option of creating multiple valuations based off the same set of data, right, so that can be as is as stabilized at exit. You can play around with different cap rates. It really comes down to what you want to explore. But really the most important thing is you're not capped at how many valuations you'd like to create.

Most lenders use either an internal or third-party procurement system. Typically, within those there are standard language templates. So, adding VAL to an engagement letter is simple as just a couple keystrokes typing VAL in there and you're good to go. VAL provides sample language on our website. But to make it easier, we could send it over to you. It's really a frictionless experience for fee appraisers. Most appraisers are already using VAL, trainings included at no additional cost, and ongoing support is phenomenal.

If you happen to use local appraisers, as many do, and you feel they might be concerned that they can't afford VAL, no worries. We feel very strongly that local appraisers are very important part of the industry, and we have specific pricing and training in place, and we're happy to work with you to outreach your panel of appraisers to make sure they're onboarded. With the use of VAL share feature, you have the option of sending a full model to non-VAL license holders, whether they be syndication partners or other internal stakeholders.

And if you happen to be working with syndication partners, that might not be VAL clients. Using the share feature is easy enough to copy and paste a link and send a full model to them. Additionally, you could send VAL models to other stakeholders that might not be VAL clients. The easiest part of the process is for them to send a model to you. They need to simply copy and paste a link from their own model, email it over, and then you have access to the entire thing.

We do plan on using intelligence in the future to drive reasonability of reviewing these deals, right, so that could be a comparison between prior deals in the same market, price per square foot, cap rates, things like that. How do they compare to your own past deals? VAL has no data ownership rights and will not resell your data. Additionally, we will not use the data to feed an AI model or an AVM model. We don't compete with our clients and will absolutely not use their data to compete with them.