This is a guest post from Mary Schulz, Senior Product Manager at Marshall & Swift®, (“M&S”) now part of CoreLogic®. Look for their SwiftEstimator tool integrated seamlessly with TOTAL in the TOTAL Store soon.
You’ve been asking and we hear you, loud and clear. We’ve been hard at work on the new SwiftEstimator integration for TOTAL through the TOTAL Store and wanted to give you a quick update. The new interface is being designed to meet the needs of busy building cost professionals.
You may be surprised by the optimized workflow and single-screen design. Marshall & Swift’s SwiftEstimator gives you building cost estimates in real-time and imports the data back into your report, so you don’t have to re-enter the data. SwiftEstimator will pull the property address, and building characteristics (i.e. Number of Stories, Gross Living Area, and Quality) from your data inputs on the URAR form and with SwiftEstimator assumptions will provide a starting replacement cost new calculation. The new streamlined, one screen view will be available for making adjustments, adding more details, and etc. When you’re finished, just click a button to import the data back into the URAR Cost Approach section of your TOTAL report.
SwiftEstimator assumptions will fill in these fields:
- Foundation
- Roofing
- Exterior wall
If you need to modify any of the M&S assumptions or add improvements, depreciation, or adjustments, the replacement cost will be automatically recalculated and an updated result will be provided to you. You can also enter “Opinion of Site Value” to add to the value. M&S’s Multiple Valuation Platform (“MVP”) Engine, designed with the same algorithms and methodologies of the Residential Cost Handbook is producing the reliable M&S costs behind the scenes.
In addition to the prefilled data, you also get a Data Entry form included in your addendum. This report has a verification code for Lenders and AMCs to validate the cost approach results, meaning fewer questions for you.
The new SwiftEstimator will launch in the TOTAL Store shortly after the new year. If you’re interested in getting a sneak peek, please email us at MSchulz@MarshallSwift.com.