WALTHAM, MA (PRWEB) October 18, 2012
Pro Teck Valuation Services today announced the newest version of its hybrid valuation and market condition solution, Collateral Point. Collateral Point combines the strengths of robust market data and intelligent analytics with the local knowledge and expertise of real estate brokers and appraisers to deliver the most accurate and transparent property evaluations available.
“Originally introduced in 2007, Collateral Point has been the favored evaluation product for a number of our clients. With an increase in available data and improved analytics, we have released a new, more robust and economical version with the same value accuracy and market insight,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “Collateral Point recognizes the appraiser’s value as an analyst while bringing efficiency, methodology and validation to the evaluation process – allowing the appraiser to focus on analyzing information rather than gathering it. Logging into a single platform, the appraiser accesses a broker provided property inspection, neighborhood sales, listings and off-market activity, subject and comp transaction histories, and in-depth market condition data and trends.”
Collateral Point addresses the inherent subjectivity of the traditional three sale/three listing BPO and appraisal by providing more market data, value validation and deep market condition analysis. Collateral Point combines:
- Comprehensive subject and comparable property information and transaction data
- Market condition data and analytics
- Site inspection and repair estimates
- Subject and market commentary and current photos provided by a qualified local real estate agent
The data is analyzed, filtered and weighted for relevance by an experienced appraiser. A report is then created providing a value and all relevant data including comps (used and not used), market condition analytics, and commentary.
O’Grady added that the appraiser expertise combined with enhanced market data and analytics results in an accurate, unbiased and supported market value, market condition and forecast. Available versions include Desktop Only, Exterior Inspection and Interior Inspection. Collateral Point is an Interagency compliant evaluation, and a USPAP compliant version will be available.
“Pro Teck believes the future of real estate valuation lies in leveraging data, analytics, market knowledge and valuation expertise. By combining the best information and analytics with proven valuation methods, we can provide a better value proposition to the market,” added O’Grady. “Our clients can make better financial and risk related decisions when they have confidence in an asset’s value and understand the local market dynamics affecting the value now and in the future. This is what Collateral Point provides.”
For more information about Collateral Point or any of our residential real estate valuation products and services, please contact your Pro Teck Sales Representative or email sales(at)protk(dot)com.
Pro Teck Valuation Services
Pro Teck is a national provider of residential real estate valuations. For more than 30 years, we have worked with lenders, loan servicers and investors to improve risk management through superior real estate collateral information. Pro Teck offers a comprehensive suite of services including real estate data and analytics, field valuations, review/due diligence and appraisals. Please visit us at http://www.proteckservices.com.
Media Contact: Janice Walker, JD Walker Communications, LLC
781-290-6528 or jdwalker(at)jdwalkercommunications(dot)com