Property Data Collection Training for Real Estate Valuation and Data Solution Businesses

Property Data Collection Training for Real Estate Valuation and Data Solution Businesses

Property Data Collection Training for Real Estate Valuation and Data Solution Businesses

Are you looking for ways to accelerate the valuation process within your company? The property data collection (PDC) program introduced by Fannie Mae and Freddie Mac presents a valuable opportunity for appraisal management companies and real estate valuation businesses.

By adding well-trained property data collectors (PDCs) to your team, you can maintain an efficient workflow while gaining essential data to support the appraisal process.

Let’s explore how bringing on PDCs and providing them with consistent property data collection training can benefit your company.

McKissock’s Property Data Collection Course makes it easy to ensure your team is trained to do the job right. Learn about corporate solutions for PDC.

Benefits of hiring property data collectors

The property data collection program was designed by the GSEs to avoid appraisal delays and accelerate the loan origination cycle. How does this work? Property data collectors gather basic information about the property, take photos, and complete a property data report that documents specific data points determined by Fannie Mae and Freddie Mac. Then, the report is shared with the mortgage lender or a real estate appraiser to complete a hybrid or bifurcated appraisal.

Property data collectors help your company:

  • Speed up the valuation process
  • Reduce costs
  • Expand earning potential
  • Stay competitive

Speed up the valuation process

Any time there is a surge in mortgage appraisal demand or not enough appraisers to keep up with the volume, property data collectors (PDCs) can fill in the gaps to keep things moving. By delegating data collection to non-appraisers in certain cases (low-risk mortgages, hybrid appraisals, and bifurcated appraisals), you can speed up your process to run more efficiently.

Reduce costs

Because property data collectors are not licensed professionals, their fees are lower than appraiser fees. Therefore, PDC offers significant savings potential for your company. The key is to make sure your team is well-trained so that you can increase efficiency without sacrificing accuracy.

Expand earning potential and stay competitive

Lenders are increasingly relying on property data collectors to gather information needed for low-risk loans, as well as hybrid and bifurcated appraisals. As a real estate valuation or data solution business, you can grow your earning potential and keep up with the competition by adding property data collection to your service offerings.

Benefits of third-party property data collection training

PDCs must be properly vetted, professionally trained, and have the essential knowledge to complete an accurate and comprehensive inspection. McKissock offers the only comprehensive course designed to provide the training needed to become a property data collector.

Third-party PDC training from McKissock helps your company:

  • Stay compliant with the latest requirements
  • Enhance data quality and uniformity
  • Reduce revision rates
  • Reduce stress on internal training resources

Stay compliant with the latest requirements

McKissock’s property data collection training course teaches your team the skills they need to excel, while emphasizing compliance to the most recent Property Data Collection User Guide requirements.1 These requirements are set through Fannie Mae and Freddie Mac and must be strictly followed.

Enhance data quality and uniformity

McKissock’s course equips your team with the tools and knowledge to manage property data collection with accuracy and consistency. With a well-trained team, you can enhance data quality and uniformity across the board. This, in turn, will reduce revision rates and help you save time and money.

Reduce stress on internal training resources

Why spend the time and resources needed to develop an in-house training program when you can rely on a course from a trusted education provider like McKissock? For over 30 years, we’ve partnered with valuation professionals to deliver high-quality education solutions. Our course makes it easy to provide your PDCs with the training they need.

Partner with McKissock for high-quality property data collection training

Ready to bring on PDCs to help your business accelerate the valuation process, reduce costs, and stay competitive? Ensure your property data collectors are properly trained to perform accurate, compliant inspections with McKissock’s PDC course. Our 5-hour online, self-paced course offers comprehensive training, an end-of-course exam, and a Certificate of Completion.

Learn about corporate solutions for property data collection training.

Resources:

  1. Property Data Collection User Guide (freddiemac.com)