Realwired shares the story of how its appraisal management software platform, YouConnect, is helping bankers manage complex appraisal processes with ease and at a lower cost.
For banks that deal in the real estate, finding an effective technique for appraisal management is a top priority. While traditional methods such as spreadsheets are cheap and easy to access, they have limited data processing capability and are error-prone, making them less attractive for today’s complex appraisal management environment.
Appraisal management is not just about providing estimates of the value of a property, it involves compliance with relevant regulatory guidelines. The introduction of modern appraisal management software like YouConnect has made it a lot easier for financial institutions to manage their vendors. The platform helps navigate the elaborate appraisal processes in a faster, more seamless, and more cost-effective manner.
Founded 25 years ago, Realwired has been at the forefront of revolutionizing the real estate appraisal management process through its proprietary software called YouConnect. YouConnect is a reliable appraisal management software that helps bank appraisal departments automate the valuation process.
With YouConnect, appraisal departments can be more productive with appraisal and environmental workflow, by automating vendor management and reporting in simple steps. The software has shown evidence of driving process efficiencies with an increase in transparency between lending and credit departments.
Clients don’t have to worry about data breaches as Realwired completes the rigorous AICPA SOC2 audit annually, ensuring that its technology and cloud computing are enterprise-level secure. In addition, the certification also ensures that the appraisal process is carried out in compliance with existing regulations.
Realwired values data privacy and provides their clients’ full control. The client’s data is theirs alone and will not be shared or sold. The established appraisal ordering platform can’t say the same.
What Are Customers Saying About YouConnect?
In the last few years, YouConnect has been rated as the most advanced appraisal software by clients who have used the solution in their appraisal departments. The software is being used by banks from $450 billion down to $500 million in assets. Banks of any size benefit by partnering with Realwired throughout the US. One of the banks that has found YouConnect highly instrumental to their success is Origin Bank.
In a conversation with Realwired, Kara Platt, a licensed general appraiser and the senior appraisal manager at Origin Bank explained how her bank has been able to scale its appraisal process by using YouConnect.
Kara talked about the challenges of working with traditional appraisal tools such as Excel spreadsheets, and how the adoption of YouConnect has transformed their experience.
“My favorite part of working with YouConnect is the ease of use and the flexibility that comes with it. I feel the tool is personalized to the individual company’s needs and I find that to be extremely helpful,” said Kara. “One of our consultants speaks highly of how the software is more accessible than other platforms she was accustomed to in her bank reviewing experience. It is easily accessible from a smartphone or any smart device.”
For Kara and her team members, transitioning from the manual process to the fully automated process has made their work a lot easier because they don’t have to worry about the next thing to do or who to assign the next task. With the click of the button, the software provides hints on what exact action is required next to complete a process.
YouConnect has streamlined the once herculean and time-consuming task of managing the appraisal process. Lenders, appraisers, and vendors can all access appraisal orders from a single dashboard through which they can manage the entire appraisal process from order assignment to review and delivery of the appraisal report.
The software helps improve appraisal workflow for banks and encourages collaboration, giving the financial institution a competitive edge over other competitors. In addition, YouConnect is fully compliant with all applicable regulations, making it a powerful appraisal department software platform for financial institutions handling thousands of appraisals.
Asked if she could recommend YouConnect to her peers in other banks, Kara answered in the affirmative.
“I have recommended YouConnect several different times to other bankers during Q&A sessions or when I am approached by friends on the smaller banking side asking me about different platforms. I do this because the software is easy to use. If I am walking down the street and I have my phone with me and I need to look at something, I just go straight to it from my phone. It is very user-friendly.”
Kara Platt is just one of several other bankers who have given their positive and honest reviews about YouConnect and the team. One of such happy clients is Noe Borrego, an Assistant Vice President at City who describes Realwired as a customer-focused company. “Realwired listens to your goals, what you are trying to accomplish, and figures out a solution.”
Similarly, Jim Muri, the Chief Appraiser with decades of experience described YouConnect as a “system developed by appraisers for appraisers.”
What Are The Benefits of Using Realwired’s YouConnect?
Appraisal management has never been easier with YouConnect as it comes with numerous benefits. The system communicates, monitors, and reports on all appraisals in process. What was a complex and boring cycle now is completed with the push of a toggle key. The following are reasons why some of the top banks in the country are using YouConnect for appraisal and environmental ordering platform.
Saves Time And Cost
Appraisal orders have been traditionally managed with Excel spreadsheets which require laborious manual entry every time changes have to be made in order. With that process, placement of orders was a cumbersome process that required a series of phone calls or emails to the appraisers.
Also, getting updates on order status was a daunting process and it was common to experience a lag in the flow of information. All these issues were a great impediment to the appraisal departments making them extremely inefficient. As a result, tension between lending and credit increased while the appraisal department was viewed as a cost center.
YouConnect aids efficient appraisal workflow for banks and other financial institutions. The system enables banks to manage all of their appraisal data from a single platform in a way that is searchable and retrievable by authorized personnel from anywhere in the world.
With YouConnect, bankers can create orders at a click of a button, some with API integration with popular LOS systems. Similarly, order placement can be done in a matter of minutes while updates are being made in real-time, keeping all parties informed about the order status at all times. These essential features help appraisal departments save hundreds of hours and thousands of dollars.
Helps Organizations Maintain Regulatory Compliance
YouConnect not only makes it easy for users to effectively manage their appraisal orders and information sharing, but it also helps them in reviewing those orders. If a regulator requires access to past reports, the ability to quickly retrieve any documents is a stress reducer.
The software ensures that every appraisal order is regulatory compliant and that there is complete absolute independence of appraisers. This makes YouConnect the most reliable valuation-based workflow software for any financial institution, credit union or pension fund dealing in commercial real estate management.
By using a trusted and reliable appraisal management tool like YouConnect, lenders never come in contact with the appraiser and cannot influence the appraisal process in any way. Only relevant and less sensitive data is made visible to the lender and appraiser, leaving the complete command over the process to the appraisal management administrator.
Makes Communication Seamless
Timely, clear, and effective communication is important to avoid costly mistakes when managing appraisal processes. This is why a strong communication platform is built right into YouConnect to allow all relevant parties to communicate seamlessly from order assignment to appraisal delivery and report. Users can send emails, fill out forms and follow up on clients with less hassle.
Email notifications are sent out in real-time, so all participating parties are informed the moment the order status changes. Additionally, YouConnect has the most effective and fastest customer service, simple audit trail, and document communication that can easily be used by the administrator when assigning orders or providing feedback to other parties.
About Realwired
Realwired is a reliable commercial real estate technology consulting firm serving financial institutions across the country. Founded 25 years ago, Realwired has established itself as a trusted provider of real estate appraisal management software with a specialization in bank appraisal management systems.
Realwired prides itself on its highly experienced team, high-end technology, and superior customer service. Their flagship bank appraisal platform, YouConnect has a reputation for providing seamless appraisal workflow for banks.
To learn more about YouConnect, you can call 813-579-1678 or visit their website to get more information about the product. The team will be more than happy to guide you through the process of transitioning your appraisal process into a fully automated system that allows you to serve your customers in a faster and more efficient manner.
