smartCalc

smartCalc Pro allows you to view your comparables VERTICALLY in columns and to adjust your comparables to your subject property just like an actual BPO form. smartCalc Pro helps you make these adjustments consistently and accurately. Plus view all the Value Trends and Historical data in one screen shot. Instantly view information such as declining/appreciating market, the supply factor, how many REO's, plus the highest and lowest list price in area. Makes doing BPO's a breeze. Compatible with MLS systems nationwide

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Using smartCalc

Note the program has a 14 day trail version, after that you must purchase a license to continue use.

For purchase and installation information click here.

Using smartCalc

smartCalc assists you in creating fast and accurate BPO’s using information you’ve downloaded from you Local MLS.

Click here for Video on how to set up smartCalc for your M.L.S.

STEP ONE:  Map search of subject

smartCalc works best with map searches from your M.L.S. and requires minimal criteria selection. Typically you should start with a .25 mile radius search and expand to .5 miles if not enough data is provided. 1 mile is generally considered excessive unless your subject property is in a rural area or there are too few comparables inside 1 mile.

Search needs to include:
Active
Pending
Backup Offers
Close Sale
COE/End Date

Be sure to exclude Cancelled and Expired since these have no relevant value in a normal BPO report.

Attached/Detached is an optional criteria smartCalc will tell you if the comparable is Attached or Detached.

Close of escrow date should be 12 months from the data you are performing your search
Example: if today’s date is 5/12/2011, COE search field would be 5/12/2010.

STEP TWO:  Create a custom report download.

This is a one time set-up that can be done at time of your first search and then saved. You won't need to create this report again.

The information provided here is a general idea of how to create a Data Export. Consult with your specific MLS provider for more detailed information if necessary.

After you are satisfied with the amount of data your search returns, check the box "Check All Listings." This will select all the listings in your search.  There is no need for you to review them in the MLS, smartCalc will go to work for you.

After you select all listings, then click the custom report button. This will take you to a page to create your custom download report. Once that is complete you can save it and it will be available to you next time you perform a search.

The required fields & the order to add to your report are:

Address Number
Address Street Name
Unit Number (if applicable)
Address City
Address State
Address Zip Code
Property MLS Number
Original List Price
Current List Price
Listed Date
Days On Market
Status
Style
Number of Bedrooms
Number of Baths
Square Footage
Number of Garages
Fireplaces
Pool
View
Lot Size
Year Built
Levels
House Type
Sale Type
Heating Type
Cooling Type
HOA Dues (if applicable)
Agent Remarks/Comments
General Comments/Property Description
Date Sold
Sale Price

Required fields must to be in the above order for smartCalc to work!

That's a total of 32 required fields, adding more will not do anything, but NOT adding the correct ones will cause to program to not function properly.

The names might be different depending on your MLS, but as long as the field contains the applicable information and is in correct order smartCalc will perform correctly.

Be sure to give your saved report a name you will remember. I call mine smartCalc. Then just click the create report button and your report will be made and saved. Then you will be taken back to the listings’ page with all your data.

Now under report functions you will see the report you just created. Simply click the report name and MLS will generate your report and open a new screen, scroll down to the bottom and click download.

Be sure to download the report to a folder you have access to and know its location.

That's it, you’re DONE! Your report will be available each time you search now.

You now need to take a minute to set-up smartCalc.

smartCalc needs to know what codes your MLS uses for Property Status, such as Active, Closed Sale, Backup Offer, Sold etc.. and what codes are used if the property has views or a pool. You can enter these values by navigating to | Set-Up | Status Codes and entering the proper information in the corresponding boxes on the form. Make sure to enter the code exactly as they are in your MLS.

Enter the value adjustments you want to use for the fields that will be calculated automatically.
You can save these values by clicking File | Save | Adjustment Values.

If you want to change these values just re-enter the information in each box, you can choose to not Save them and your old values will be re-entered next time you use smartCalc.

Example: if you want to give bedrooms a value of $10,000 then enter $10,000. (You can change this value at anytime.)

smartCalc comes preloaded with values. You should change the values that are applicable for the area the BPO you are performing is located.

When opening a new file that you have not saved the Subject property information to, be sure to enter the subject’s information before trying to open a saved MLS file.

The Subject/ Values (first page) is where you can enter information about the subject property and input price adjustment values for automatic calculations against the Listed and Sold comparables you select on the applicable pages. After you successfully load your data file this page will also display the Value Trend information.

If you are opening an existing file that you have already work on and have saved the Subject’s information to you can skip this step. smartCalc will place the information you last saved into the program. If you need to change any of the Subject Property’s information, open the file then make your changes and RE-SAVE.

Enter information about the subject property into the program, Left Side Column. After you open the Data file you can save the subject property information by clicking File  | Save | SaveSubject

Load your MLS Data file to the smartCalc program:
Select File open on the menu bar.

Select the .txt or .csv file you download from the MLS.  You should change the name if you want to save if for future use.
Example: change res.txt to the propertyaddress.txt.  1313mockingbyrdlane.txt (no spaces)

Click the open file box and the "Value Trends" portion of page 1 should now be populated.

Select either Listings or Solds and you can view all the properties in the area selected to display against your subject and determine which are the best comparables for your report.

smartCalc will calculate certain adjustments based on the information you provide. These adjustments can be changed.

NOTE:
Do to the way agents can data input some data in the MLS, smartCalc can not perform calculation adjustments on every field. There are too many variables, such as “Garage” and how the listing agent entered this information varies too widely to make an automatic calculation.  However you can make your own adjustment after determining the listings value versus your subject property.

Note the color changes for comp properties.

For GLA / Sq. Ft:
Green indicates a comparables square footage is within 15% of the subject's sq. footage (gla).
Blue indicates a comparables square footage is over 15% but under 20% of the subject's sq. footage (gla).
Red indicates a comparables sq footage exceeds 20% of the subject's sq. footage (gla).

For Closed Date:
Green indicates a comparable has closed within 90 days of the date you are preparing the report.
Blue indicates a comparable has closed within 91- 180 days of the date you are preparing the report.
Red indicates a comparable has closed in excess of 180 days from the date you a preparing the report.


Full public & agent remarks so you can get a better understanding of the comp.

Questions or orders, please email: info@valuewell.com