Apex launched Snapshot, a new photo capture tool that provides appraisers and lenders a virtual view of a property with the help of homeowners, the company announced in a press release.
“The concept behind Snapshot is something we’ve been exploring for a while,” Apex CEO Gabriel Hern said in the release. “The national emergency created by COVID-19 simply accelerated the implementation timeline. Virtual appraisal solutions have always been a key component of our 2020 innovation strategy.”
Snapshot was developed by Ascent Valuation Management Software (Ascent).
“We designed Snapshot to be incredibly user-friendly,” Ascent CEO Gareth Borcherds said. “Users do not have to be tech savvy, professional photographers, or even know how to download an app. If you can open an email and have a camera on your phone, Snapshot will guide you through the rest.”
The photo capture tool walks property occupants through simple and intuitive steps, with visual examples of how the images should be taken. To protect lenders and investors against fraud, Snapshot photos capture metadata including geolocation coordinates, a date and time stamp, and live image validation.
“All Apex customers will have access to Snapshot photos at no additional cost during the COVID-19 crisis,”Hern said. “The goal is to keep lending partners protected, while ensuring the safety of appraisers and homeowners.”
Although the company sees future applications for Snapshot, Apex has not lost sight of the promise made last year.
“We are grateful to Ascent for moving so quickly on a solution that helps support more accurate exterior and desktop appraisals during these unprecedented times,” Apex Chief Operating Officer Greg Bernstein said. “Our ultimate goal is to empower appraisers wherever they are. Eventually the pandemic will be over, and we are still committed to launching a same-day appraisal inspection and reporting tool that appraisers can use to gather data, digitize property sketches, and finalize appraisal reports while in the field.”
Apex is a leading real estate appraisal management company providing valuation and consulting services in all 50 states. Ascent is an innovative valuation management software company focused on streamlining the appraisal process through automation.