The surveying industry faces the same challenges as many other business segments. These include: increased competition from Automated Valuation Models, the need for careful cost management, employee efficiency, innovative and profitable product offerings, the requirement to keep clients satisfied and grow sales and the opportunity to enable analytics to better manage the business.
Now, mobile technologies allow ‘Real-time agent connectivity’ that allow the valuer on-the-ground, the panel manager, and the lender to access and see data in real time. This has huge ramifications for the industry and the possibilities offered by mobile device platform use.
With a secure mobile platform, issues surrounding valuations can become a much simpler matter and dramatically improve turnaround times. Such low friction interaction can result in more efficient and accurate data collection to support any decisions as well as a quicker decision to get, for example, a subsidence expert on site to examine any particular concerns.
Moreover, all parts of the value chain, through the right portal can have access to the information as it happens saving hours of post inspection queries or valuation appointment chasing. The ability for the valuer to photograph and securely submit photos, pictures of possible problems, and images of the involved parties, including drivers’ licenses, location information, and even weather shots can reduce the opportunity for fraud.
This cohesive approach gives senior property risk managers the data and the means to analyse the business, looking for new opportunities as well as the risks, and profitability. Having that same mobile platform in place then gives these same property risk managers the means to quickly disseminate new information, lending guidance, and make required adjustments quickly – no matter where the valuers are.
Mobile technology has the potential to rewrite the rule book for the entire mortgage value chain.
