There’s a lot of debate on whether or not real estate valuation software actually makes sense. Data analysts will argue all day that if they can get good data, they can give you a good valuation. Veterans of the industry will tell you there’s more to it though. How can you put a value on curb appeal, a great back yard or a railroad track 50 yards away?
Something else to consider is that there are multiple ways to determine the value of real estate. Just as analysts have several methods to determine the true worth of a company, property valuation software each has its own way of doing things. This leads to discrepancies from software to software. Obviously this can be a good thing if you simply consider it as a range of what the true value may be, but any real estate agent will tell you that you can’t count on a concrete number.
If you do decide to invest in this software, here are a few options to consider.
Real Estate Valuation Software #1: a la mode, inc.
One of the oldest players in the game, a la mode, inc. offers several different packages for customers. They tailor their packages towards different industries, as appraisers generally have different needs than agents or brokers.
They’re unique in that they have zero debt, so they can focus on adding value to their 100,000+ customers rather than having to worry about keeping shareholders happy.
a la mode also offers extensive training, so if you aren’t the most tech-savvy person in the world, they will take care of you!
Real Estate Valuation Software #2: HomePuter
HomePuter has also been around for a long time… and their website shows it. Their website is extremely outdated, which may lead you to think their software is outdated as well.
Even though it’s difficult to find recent reviews, it does appear that the software still works okay. Many people also vouch for the quality of customer service they received from HomePuter, which is always a plus.
It’s also very inexpensive, so if you are looking for a budget option to do the job, HomePuter may be worth a shot.
Real Estate Valuation Software #3: Commercial Complete
Just as the name implies, Commercial Complete is designed specifically for commercial buildings. They’ve been around since 1987, although their company name has changed over the years.
They offer two main options- Commercial Complete Pro or Standard. You can also invest in an annual subscription, but it makes the least sense financially if you stick with the software long-term.
Unfortunately their website could use a little TLC, although it’s not difficult to find your way around. And because it’s a newer piece of software, it’s easier to find recent reviews from customers.
Real Estate Valuation Software #4: ClickForms
ClickForms is actually just one of the products offered by Bradford Technologies. Their claim to fame is its ease of use, as they call it a “point and click” software. Again, this may be another good option if you aren’t the most tech-savvy person you know.
The software has a lot of different modules, so you can make your analysis as basic or advanced as you want. The only downside is that you pay for what you get- to get some of the most advanced software, you’ll have to pay one of the higher subscription prices out there (the least expensive option is $600/year.)
Real Estate Valuation Software #5: Property Metrics
Property Metrics is an online-based platform you can use from anywhere- including your tablet! Even though you may prefer a computer for building your estimates, more professionals make the switch to tablets everyday for the additional convenience they offer. If you’re already using a tablet- or at least thinking of making the switch- this may be the software for you.
Property Metrics like to push the fact that they don’t help you build bulky spreadsheets- instead, they generate clean, easy-to-read reports for you to work with. Their pricing model is subscription-based, so again it won’t be the least expensive option, but has several conveniences that its competitors don’t offer.
Looking for Something Else?
If none of these suit your fancy, there are other types of real estate valuation software out there as well. It’s difficult to completely cover all of them without turning this into a 3,000 word article! Just keep in mind that as you start your search, you should have an idea of what’s most important to you- flexibility, cost, a proven track record, etc.