ValuePros - An Innovative IT Outsourcing Company

Country

Americas

Industry

Real Estate

Technology

Angular JS | Node JS | Flutter | Mongo DB

The Client

ValuePros (formerly, Nugent Appraisal Services) is a family-owned national personal property appraisal firm that certifies the values of Fine Art, Decorative Art, Jewellery, Collectibles, Memorabilia, Archival Collections, General Residential and Business Contents, Machinery & Equipment, Vehicles, Special Collections, Business Valuation, and Bulk Inventory. The firm began in Naples, FL in 1976 and is now directed by second and third generation son and granddaughter appraisers.

The firm continues to add talented appraisal professionals to deliver the highest appraisal standards in over twenty service cities throughout the country. In addition to conducting onsite appraisal examinations in homes, offices, and secure facilities, the firm certifies the value of thousands of items every month from around the world from images, descriptions, and documents of origination. ValuePros serves as the exclusive independent appraisal service of a growing number of U.S. Department of Justice and Department of State service offices and asset valuation service for estates, trusts, and family offices.

The Challenge

One of the main challenges in developing the website is the accuracy of the information provided by the requester which is crucial for an accurate valuation certificate or appraisal report. It can be challenging to ensure that all the necessary details are entered correctly, especially when the information is provided online. Mistakes or missing information can lead to an inaccurate valuation.
Online requests may require the submission of supporting documents such as property deeds, tax records, or sales history. Verifying the authenticity and accuracy of these documents are challenging without physical copies or in-person verification.
Valuation certificates or appraisal reports typically involve an inspection of the property. However, online requests may not allow for a physical inspection, which could impact the accuracy of the valuation. The absence of a physical inspection may result in an overvaluation or undervaluation of the property.
The accuracy of a valuation certificate or appraisal report depends on the availability of accurate and up-to-date data for comparable properties and market trends. Obtaining reliable and comprehensive data online are challenging, especially in areas with limited data availability. The client also wanted to have the access limited only to the authorized users and protection from the internal misuse.

The Solution

We have streamlined the process and ensured that the reports are accurate and reliable.
We implemented a standardized system for requesting valuation certificates or appraisal reports. This includes property specifications, purpose of valuation, any specific requirements, and any other relevant information. This will help the appraiser understand the scope of the report and provide an accurate evaluation.
We enhanced the quality and reliability of the valuation certificates or appraisal reports, thereby supporting informed decision-making and reducing the risks associated with their investment or financial transactions.
We have implemented internal quality control measures, which include conducting background checks on appraisers or valuators, reviewing their previous work, and requesting sample reports before engaging their services.
We developed online platforms for requesting valuation certificates or appraisal reports to prioritize the security of sensitive personal and financial information. Ensuring data privacy and protection against cyber threats is a significant challenge for online service providers.

Key Benefits

Efficiency: Streamlining the flow of a valuation certificate or appraisal report allows for a more efficient and streamlined process. This can minimize the time and effort required to complete the report, allowing appraisers to focus on other tasks.
Consistency: A consistent format and structure can be maintained throughout the valuation certificate or appraisal report. This helps ensure that all necessary information is included and that the report is easy to read and understand.
Accuracy: We helped to improve the accuracy of the valuation certificate or appraisal report. By following a consistent structure and format, appraisers can ensure that they consider all relevant factors and provide an accurate assessment of the property's value through an approval workflow.
Compliance: We helped to ensure that the valuation certificate or appraisal report complies with applicable regulations and industry standards. By following a consistent process, appraisers can demonstrate that their work meets the necessary requirements.