Aloft Appraisal

The real estate appraisal industry faces challenges with outdated processes, appraiser subjectivity, and biases that can skew property valuations.

Overview

Aloft's Toolkit is a B2B SaaS solution for real estate appraisers that streamlines the tedious and non-data-backed approach that is currently the norm in creating home valuations.

I was the Senior Product Designer for a new web app that uses React and a custom Figma-based design library.

Solution

Innovate appraisal processes using scientific data and AI to enhance accuracy, fairness, and efficiency:

  • Minimize manual input, allowing appraisers to focus on complex, specialized tasks
  • Incorporate external data from Public Records and Real Estate (MLS) sources
  • Leverage AI (restb.ai) to improve assessment of home quality & condition, enhance comparable selection, and provide market insights

Benefits

  • Reduce the average appraisal completion time from 2-4 hours to 20-30 minutes for experienced appraisers.
  • Decreased the number of revision requests* from lenders by a significant margin.
    * This is when a lender asks for revisions because there is an aspect of the appraisal that is confusing or inaccurate.
  • Data-driven adjustments help clarify abstract appraisal factors like quality, condition, and site location.