realquantum
Delivering Next-Gen Real Estate Appraisal

Traditionally, commercial real estate appraisal involves the thorough inspection of a property, the collection of relevant details of the real estate through photographs, notes, and diagrams, and finally, consolidating all the gathered financial information on a spreadsheet and narrative details in a word processor. Currently, the execution of all these varying tasks, in particular, the manual integration of all the crucial information resulting in inefficiencies owing to the increased risk of human error and their cumbersome nature. However, today, with organizations favoring newer business models and a tech-enabled ecosystem, commercial real estate appraisers are adopting tech-based solutions to assist them in increasing the efficiency and speed with which they perform tasks and optimize their business processes. Offering a web-based application that integrates all the different tasks of an appraiser, Kansas-based realquantum eliminates the need to execute time-consuming tasks and enables them to perform critical tasks such as market analysis, providing guidance, and researching trends. “realquantum recognizes the significance of time in commercial real estate appraisal and delivers a web-based application that helps appraisers to boost their productivity and enhance the efficiency of the organization as a whole,” says Jeff Weiner, chief marketing officer at realquantum.

realquantum’s SaaS offering enables appraisers to consolidate all the information on a property within the web application, which is accessible to appraisers and support staff on the team. In addition, realquantum’s cloud-based platform incorporates the necessary mathematical formulas and calculations to eliminate the need to re-enter data and minimize math errors. Further, the application is designed to make it easy for appraisers to comply with USPAP (U.S. Professional Appraisal Practices). In fact, USPAP was recently revised and realquantum quickly released an application update.

In order to deliver a solution that is easy-to-use by appraisers all around the world, realquantum collaborated with human-factors engineers to develop an extremely user-friendly product and hired customer success professionals to help users have a seamless experience.

“Our first goal was to design an intuitive, well-informed, and logical app that is easy to learn,” explains Weiner. One success story is an early customer of realquantum, who were a family business transitioning leadership from father to daughter. After operating for years on a completely manual process, the daughter knew that her father had created a successful business. She also knew that they could not compete in the future unless they got more efficient. After a demo of realquantum, she told the sales rep, “I looked at all the products on the market. This is the only one that the entire team could easily learn—from my father who was about to retire to the newest member of the team.” With realquantum, the company was able to boost their productivity by 20-25 percent.

According to Weiner, realquantum customers take around 60 days to experience the productivity boost offered by the web app. The primary variable in the time is data conversion. Some customers do not need data migration and can implement the solution quickly while others with a large database can take longer. To speed the process for every customer, realquantum offers live training sessions and an excellent knowledge base of videos and support documentation. There is also a team of application experts and appraisers available by email, phone, or online chat.

In addition to their web application, realquantum has a mobile application that allows appraisers to carry out their on-site inspections with higher efficiency. The mobile app allows professionals to record notes, take pictures, and with the new sketch feature, draw diagrams of a property, before automatically uploading it to the web application. “By the time the appraiser gets back to the office, the mobile app has uploaded everything. The appraisers can spend more time on analysis, instead of mundane activities,” states Weiner.

Every few weeks, realquantum releases new features on the web or mobile applications. To support customers, the company hosts a blog and webinar program named “Highest and Best Use.” “Our goal is to help elevate the profession. To help commercial real estate appraisers be more successful, whether or not they are a customer,” concludes Weiner.