2023 has been an eventful year for the appraisal industry. We’ve seen strong headwinds in residential real estate with the Fed’s continued efforts to slow the economy and rein in inflation.
The good news is that there have been positive signals from the Fed regarding interest rates coming down along with other encouraging economic signs as we welcome in the New Year.
At DataMaster, the hectic pace of developing appraisal software hasn’t slowed. We’re already making changes to prepare for the arrival of new UAD standards to ensure that all of our affiliates and subscribers will be ready to handle UAD compliance as it becomes policy. DataMaster will support the new UAD standards natively. Our access to property data and patented data gathering and formatting processes have given us a head start, while other software providers start from square one.
Other Highlights in 2023
In addition to preparing for the new UAD standards, DataMaster has worked hard with our partners on many exciting projects in 2023. Here are some of the highlights:
- Jennifer Tossavainen joined DataMaster as the new Managing Director committed to leading
DataMaster to a fully web-based model so customers can take DataMaster on the go to support working anywhere.
- Jennifer has a background in real estate, MLS and deeply understands property data and its use by all participants in a real estate transaction. Her addition to the team in 2023 will lead DataMaster to elevate products and expand their availability into new markets.
- Did you know that in a survey of 1,000 appraisers, DataMaster users enjoyed 15% less errors and a 17% better on-time rate than appraisers who don’t use DataMaster.
- DataMaster partnered with CincyMLS to provide alternative solutions to members during the Rappatoni outage and beyond.
- DataMaster welcomed several new MLS partnerships this year including Triangle MLS, Dayton MLS, and Canopy MLS. Look for more partners to join the DataMaster network in 2024!
- DataMaster supported numerous MLSs across the country to create value and efficiencies for their members and show the value of fast, accurate appraisers on successful property deals.
- DataMaster attended the Council of Multiple Listing Services Conference in New Orleans and looks forward to working with CMLS, MLS staff and boards across the country to support CMLS initiatives.
- DataMaster participated at the ACTS conference in Sacramento and Appraisal Summit and Valuation Expo in Las Vegas. DataMaster attends industry events to learn more about the challenges appraisers face, from the appraisers, so we can build software that is easy to use and makes a difference in our customers’ lives.
- DataMaster continued to support RESO in 2023 by attending the RESO event in San Diego. DataMaster will continue to support RESO’s mission to standardize property data in 2024 and beyond.
- DataMaster supported subscribers in switching forms software during the ACI outage in December.
Looking Forward to 2024
As we kick off 2024, DataMaster will continue to create strategic partnerships with MLSs and other industry participants. DataMaster is committed to helping appraisers build their businesses in any market through a series of educational programs designed to help appraisers identify and win appraisal business from various sources. Each installment of the Change the Score in 2024 series will give participating appraisers actionable materials to implement.
Look for more ideas from DataMaster you can use in 2024 and beyond to build your business, streamline your processes, and enjoy the benefits of being part of the DataMaster community. Click here to join our exclusive DataMaster user group on Facebook. Share your experiences with your fellow appraisers. You’ll get the latest news and information from DataMaster before anyone else