As part of our monthly survey series, we asked our community of real estate appraisers, “What tool(s) do you use to support your appraisal adjustments?” Respondents were allowed to make multiple selections and write in their own answers as well. Popular tools include Synapse by Spark, Solomon Adjustment Calculator, and Redstone by Bradford Technologies. The majority of respondents said they use a combination of various tools and methods, such as paired sales analysis. Read the full survey results below.
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What tools do you use to support your appraisal adjustments?
Here’s a tally of the most popular answers—tools that were either selected or written in by multiple respondents. We’ve included “paired sales/matched pair analysis” in the list as well, even though it’s a method rather than a digital or software tool, because it was mentioned by so many appraisers.
Top 12 tools to support adjustments
- Synapse by Spark (27)
- Solomon Adjustment Calculator (25)
- Paired sales/matched pair analysis (18)
- Redstone by Bradford Technologies (14)
- Excel (14)
- MLS (11)
- Marshall & Swift (4)
- Gandysoft (3)
- Titan Analytics (3)
- DataMaster (2)
- Appraiser Genie (2)
- HP 12C Financial Calculator (2)
“Synapse has been very instrumental in helping me determine the adjustments for each market. After determining the parameters for the market, and taking out the outliers, this tool can really help show market reaction for multiple features. I love it!”
“I use Synapse by Spark for typical property adjustments and Solomon for more complex properties.”
“Created by an appraiser, [Gandysoft] is an easy and effective way to support your adjustments. The analysis is done from your search criteria from your local MLS and provides clear charts to include in your report. A+”
“I am a trainee now but have been helping with appraisals for several years. Redstone has worked out great for our company.”
“I use the local MLS and local contractors and builders to help determine a more specific adjustment to my market area.”
“I am capable of determining the adjustments without any software. I look at the MLS data and am able to determine appropriate adjustments. I would need to know all of the assumptions the software takes into consideration before I would trust the adjustment with my signature.”
“I use matched pairs within the report and statistical analysis including single line linear regression analysis to support my adjustments.”
“I have found the matched pair analysis to be the most reliable method for supporting adjustments. It is data directly from the market that is driven by the market.”
“I feel that paired sales analysis is always the best tool.”
“Textbook methods for adjustment support are not usually practical in my area. I use a combination of paired sales. The sales I use are all the potential comps in each report. I generally place at least 6 in the grid. Also, cost less depreciation is my most common methodology. I utilize a functional depreciation by measuring the presence of a specific feature.”
Other tools and methods
In addition to the top answers listed above, we received many other write-in responses. Other methods and tools that our survey participants said they use to support appraisal adjustments include:
- Domus Analytics
- Trendline (Synapse’s predecessor)
- Regression analysis
- Segmented market analysis
- In-house analysis
- Proprietary software/method
- Allocation method
- Cost to build
- Market knowledge/research
- Market extraction
- Manual sales comparison
- “Old school” methods
- Pencil and paper
“Due to rural location, there are no algorithmic tools to be utilized for adjustment data. I utilize paired and grouped data analysis and experience and knowledge.”
“I’m an old dog in this business, and you know what they say about old dogs and new tricks. I limit my intake, so I am able to spend the required time extracting my adjustments.”
“I use my own analysis from the comps selected and knowledge of the market area.”
While technology tools certainly cannot replace the experience and knowledge of an appraiser, many appraisal professionals find them useful for things like supporting adjustments, increasing workflow efficiency, and managing their business. What tools do you use to support your appraisal adjustments? Join the conversation! Follow us on Facebook, Twitter, and LinkedIn. Or, sign up for our newsletter to get a new survey question in your inbox each month.
For more tips and tools, check out the Appraisal Technology section of our blog, and browse upcoming Pro-Series webinars.