Frequently Asked Questions
Why did we create Toolkit?
Appraisers provide valuable expertise to the real estate industry. Aloft’s core position is to empower appraisers to better support their analysis and win more business. As assignments get more complex and turnarounds get tighter, appraisers deserve modern tools that accelerate their work.
What is the advantage of using Toolkit?
Toolkit helps you rapidly dial into your valuation and avoid blind spots that could lead to revisions, missed adjustments, or double adjusting. This is because Toolkit efficiently organizes your analysis for a more comprehensive view of each comparable in your assignment. Abstract features such as quality, condition, and site location are demystified. No other solution gives you the same confidence that your adjustments are complete and consistent. All of this while keeping you, the appraiser, in control.
What methods are available in Toolkit?
Toolkit provides robust adjustment support with depreciated cost, site extraction, market adjustments, and paired sales specific to your local market. Subscribers gain access to nationwide cost data, public records, and cutting-edge image analysis technology (learn more here). Additionally, many users get the added benefit of direct MLS integration. Your adjustments, cost approach, and supporting documentation can all be exported into your form filler.
How do I incorporate Toolkit into my report?
Toolkit helps you develop your adjustments and cost approach, with supporting documentation for your addendum/work file. Users of Appraise-It Pro, ClickFORMS, and TOTAL can directly export this information into their report, and this information can be conveniently downloaded for users of other form-filling software.
What forms does Toolkit help with?
Toolkit currently supports single-family (FNMA 1004 and 2055), manufactured homes (FNMA 1004c), and multifamily reports (FNMA 1025) forms. Aloft will soon support condominiums (FNMA 1073 and 1075) forms. Additionally, the insights from Toolkit can also be applied to other form types, such as web-based and general-purpose form appraisals.
Can I use Toolkit without my MLS integrated?
Absolutely. Market-based adjustments are derived using the extraction method. MLS connectivity is not required to unlock the power of Toolkit through nationally available cost data.
If the cost approach is used, how are the adjustments market-based?
By using the sale price of the comparables as market value, and then extracting the site value, the remaining amount is the market-derived value of the improvements. This provides the appraiser with well-supported market-derived adjustments of the value-driving features for each property.
How are clients responding to appraisals using Toolkit?
Toolkit users from around the country have completed thousands of reports using Toolkit for their analysis, with positive feedback. Since Toolkit adjustments are market-driven and data-backed, it is no surprise that Toolkit has been well-received by various stakeholders throughout the appraisal industry.
What customer support do you provide?
Aloft’s team of experts hosts frequent webinars and onboarding sessions that you can schedule within Toolkit. Additionally, our team is available from 6:00 am-6:00 pm Pacific Time (Monday-Friday) at +1 (855) 925-6385 by phone, as well as at support@aloftappraisal.com by email, or by using the send feedback function inside the Toolkit application. Check out our Help Center for more information. We are eager to help you succeed and hear your feedback!
