Patent ID: 8370267
Filing Date: 2013-02-05
Classification: G06Q

Abstract:
1. A method for appraiser-assisted valuation of a subject property for a requester, wherein the appraiser obtains inputs in electronic form on an electronic work station, said method comprising: completing an electronic valuation request form including providing data upon which the valuation is to be based, in a requester electronic work station; sending the electronic valuation form electronically to an electronic work station of professional appraisers in the general vicinity of the subject property from an electronic database identifying respective professional appraisers in the general vicinity of the subject property, the professional appraisers having been licensed and trained to appraise electronically real estate properties, wherein “general vicinity of the subject property” means within a defined area surrounding the subject property; determining, by a computer system, that the first set of options that are available to be provided to the professional appraiser are: (1) accepting the valuation request form and becoming a selected appraiser, (2) modifying and accepting the valuation request form and becoming a selected appraiser, and (3) rejecting the valuation request form to effect the sending of the valuation request form to another professional appraiser for acceptance or rejection; wherein the first set of options are distinct and separate from each other; providing, by the computer system, the professional appraiser with the first set of options of: (1) accepting the valuation request form and becoming a selected appraiser, (2) modifying and accepting the valuation request form and becoming a selected appraiser, and (3) rejecting the valuation request form to effect the sending of the valuation request form to another professional appraiser for acceptance or rejection; wherein the provided first set of options are distinct and separate from each other; accepting the appraiser to conduct the appraiser-assisted valuation; providing, by the computer system, to the selected professional appraiser an initial automated valuation from a computer generated model based on valuation from properties comparable to the subject property; determining, by the computer system, that the second set of options that are available to be provided to the professional appraiser are: (1) accepting the result of the initial automated valuation, (2) rejecting the initial automated valuation and processing a different automated valuation to determine an acceptable automated valuation, (3) accepting the initial automated valuation and modifying the resulting valuation based on local conditions in the area of the subject property, (4) modifying the property information used to develop the initial automated valuation by adding or subtracting property information used for the initial automated valuation to generate its valuation, and (5) completing a Desktop Valuation based on local market data; wherein the second set of options are distinct and separate from each other; providing, by the computer system, all of the following second set of options to the selected professional appraiser to determine the appraisal value: accepting a selected one of the provided second set of options; determining the final valuation based on the selected one of the provided second set of options; completing the appraiser form and submitting the form electronically to the appraisal website; and transmitting the appraiser assisted automatic valuation electronically to the requester electronic work station.