Frequently asked questions

After you have given the Subject Property address and selected the comps to include in the MCA report, click on Save and Continue. This takes you to the Report Preview page. On this page, you can view all the images of the Subject Property available from the MLS. The first four are pre-selected for inclusion in the report for optimum performance while generating the report. All the images are labeled automatically by MCA. The Appraiser has the option of changing the label to improve the accuracy of the image labeling.
 
You also have the option of uploading new images for inclusion in the MCA report. The images uploaded are available in the MCA report, and do not reflect on the MLS images maintained. These images are also automatically labeled while they are uploaded to the list of property images. For optimum performance, the number of images is recommended to be 4 or less. Once the images are labelled, the user is prompted to do image ordering. Once the images are ordered, the user has the option to drag images to rearrange them as required.
Once the images have been reviewed click on the Auto Order Image button. This sorts the images in the order set up by the Appraiser in the Settings page. Image labeling comes with the MLS images and uploaded images if that is set so. The image labels recommended can be changed to something chosen by the Appraiser. This can be reset to the by clicking on the Reset Auto Labels button.
 
The order in which the labeled images have to be sorted is set when a new AMC is being set up in MCA. The default order is as follows:  Front of Structure, Courtyard, Reception, Lobby, Living Room, Family Room, Fireplace, Dining Room, Dining Area, Sitting Room, Sun Room, Office, Study, Media Room, Master Bedroom, Bedroom and so on. This default order can be changed by an MCA Administrator user based on the AMC’s request. 
In the Report Preview page, Property Information is displayed in different categories such as Listing Details, Interior Features, Exterior Features, Property and Lot Details, Utilities and Tax Assessment details, location details, Public Record details on the property, School information, and Agent/Broker Details. If these are not available or need to be edited, MCA provides the functionality within the same section. Click on the Add/Modify Attributes button to view the current source of data. It is set as MLS Listing data by default. The Appraiser has the option to change it to Public Record Data, or custom data can be provided by Appraiser.
 

In the Report Preview page, Property Information is displayed in different categories such as Listing Details, Interior Features, Exterior Features, Property and Lot Details, Utilities and Tax Assessment details, location details, Public Record details on the property, School information, and Agent/Broker Details. MCA provides the functionality within the respective sections to change the property information. Click on the Add/Modify Attributes button to view the current source of data. It is set as MLS Listing data by default. The Appraiser has the option to change it to Public Record Data, or custom data can be provided by Appraiser.

The Appraiser has multiple options to view the comps once the search has been performed around the Subject Property. The tabular view is the default view on the left side with the numbered comps sorted in the order of distance from the Subject Property. On the right side is a map of the location. The user gets a snapshot of the primary image of the property (Subject or comp), listing status, listing price, listing date etc. The Appraiser has the option of selecting or deselecting additional fields in this view.
 
The Appraiser has the option to switch to a Grid View, in which each comp is displayed as a card with primary image, listing price, listing status, address, beds, baths, living area, type of property, distance from the Subject Property, and Days on Market identified. Clicking on the VIew Details button opens up a tab with more detailed property information for that comp. The Grid View is particularly useful while creating or reviewing a report on a mobile device. The Appraiser also has the option to switch off the map view to get use the available screen space to review more comps in a single view.
 
The comps will also have the Similarity Score computed, which helps the Appraiser select the best comps for the Subject Property.

While reviewing the comps, click on the % Similarity Score link. This opens up a pop-up window where the weightage for the parameters considered is shown. The parameters currently included are bed count, bath count, living area, and lot size. The relative weightage assigned to each parameter can be edited. The application will allow a new set of weightages to be assigned to these parameters as long as the total adds up to 100%.

The Similarity Score is automatically computed if the required parameters for the Subject Property are available. If these values are not available, the  app will prompt the user to input the missing values to compute the Similarity Score. If the user has the option to continue without computing the Similarity Score.

In the Comparables view, clicking on the Settings icon opens a pop-up that has the fields available for display in the Comps table. These fields are Status, Listing Price, Listing Date, Close Date, Close Price, Beds, Bath, Type, Days on Market, Stories, Living Area, Distress Type, Lot Size in sqFt, Distance in miles, Similarity Score percentage and MLS Modified. By selecting or deselecting the fields, the comps table can be customized to match the Appraiser’s requirements. The user has the option to use the filters on the Comps table to search for comps that match specific property or listing attributes.

Yes. During your comp search, you can access listing history or property history on any property – subject or comparable.

Listing history provides you information on how the price or status of the listing changed for a particular sale event on a property.

Property history provides you the complete transaction history for the property over the past 15 years.

In addition, where available, you can also compare before and after photos of the property to know if it was renovated since the previous sale.

You can export the report in PDF, CSV, or MISMO XML format. MISMO formats can be directly imported into your forms software.

In addition, we also provide exports for any forms software you use. In many cases, we also Single Sign On integration from your forms software and you can launch MCA seamlessly from your forms software.

Please contact us at support@propmix.io to learn about our forms software integration.

While on the property details page of any comp or the Subject Property, the user can link on the Create Link icon to generate a link that can be shared with others to view the details publicly. This link is useful to the Appraiser when a specific property needs to be reviewed by a colleague or customer to ensure accuracy of the appraisal report. It can also be published on public websites to enable a larger group to view the property details.

Once the comps are selected, MCA generates a Fair Market Value for the Subject Property based on an internal algorithm. This is based on Subject Property and comp property attributes, and might not reflect the current condition of the properties. The Appraiser has the option of adjusting the Fair Market Value by clicking on the Value Adjustments button. On the Value Adjustments screen, the attributes of the Subject Property and the comps are shown. The Appraiser can then provide a positive or negative value relative to the comps to adjust the value of the Subject Property with respect to the beds, baths, age of property, living area, number of stories, heating/cooling mechanism, water source, and exterior features. The Appraiser also has the option of providing comments and any other value adjustments for a reason other than that related to the above factors.

The net value adjustment is displayed at the bottom of the screen to provide the Appraiser a quick view on the variance to the Fair Market Value as a result of this adjustment.

User needs to select at least 3 comps to use the Value Adjustments section of MCA.

Most probably, Yes. We have over 420 MLSs mapped in our system. We already have data loaded for a large number of MLSs. If we don’t already have the data in the platform we will work with you and the MLS to have it incorporated. Please drop us a note at support@propmix.io and we will contact you within in a couple of hours.

We gather your MLS membership information and validate that upfront. Your membership at the MLS is verified every time you log into our system. We cannot provide MLS data or enable comp search in MCA unless the MLS has permissioned us for that purpose and your membership is active with the MLS.

The key indicators for the Subject Property location is included in each MCA report. The trend for the last months for the zip code are captured for the following metrics:
– Median List Price by Property Type
– Median Sold Price by Property Type
– Average Days on Market by Property Type
– Median Sold Price per Sqft by Property Type
– Inventory by Property Type
– Median List Price vs. Median Sold Price
– Inventory and Absorption Rate

One or more or all of these insights can be selected by the user for display in their MCA reports by configuring the Settings section in MCA.

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