MapQuest Developer Blog

Millions of Accurate Real Estate Appraisals Depend on MapQuest for Business

Global DMSWhat's the best way to enable lenders and appraisers to perform millions of real estate appraisals using comparable properties in the area? The answer for Lansdale, Pa.-based Global DMS®, is MapQuest for Business.

Automating the Entire Valuation Process

To help Global DMS users perform appraisals accurately and efficiently, the company developed eTrac®, a valuation management SaaS platform. eTrac automates every step in the collateral valuation process, including risk checks, compliance, appraisal data validation and valuation performance management.

Objectives:

  • Geocode over one million subject properties per year across the U.S. and Canada.
  • Identify the ideal appraisers for various properties based on their geographical location.
  • Display the subject property, comparable properties and listings on a map.
Location, Location, Location

Every real estate professional knows that location is everything when it comes to the value of a property. Since a property's valuation relies heavily on the value of comparable properties in surrounding areas, the accuracy of location data is critical. In addition, the U.S. Federal Housing Authority requires appraisers to have 'geographic competency' of the areas in which they perform appraisals. Using inaccurate location data to calculate the valuation of a property or to select an appraiser could spell disaster for the property's buyer, seller or lender.

In 2008, Global DMS replaced its original geospatial services provider due to challenges with usability and overall capabilities. After evaluating several providers, the company ultimately chose MapQuest for Business. According to Global DMS CEO and President, Vladimir Bien-Aime, "MapQuest's functionality and price point were far better than everything else we considered."

Seeing the Big Picture

More than nine years later, MapQuest continues to provide the geospatial data that enables eTrac users to find the most geographically competent appraisers and comparable values for more than a million U.S. and Canadian properties annually. eTrac uses MapQuest's Geocoding API to accurately calculate the distance between subject properties and comparable properties. When displaying the most geographically competent appraisers and all the property's nearby features on a map, eTrac leverages MapQuest's Static Map API. "MapQuest is really good at overlaying points of interest," said Bien-Aime. "This makes it easy for buyers and appraisers to see the big picture of a property and its proximity to schools, churches, parks, shopping centers and other landmarks."

Accurate Data Makes Happy Users

MapQuest has made an extremely positive impact on eTrac's users. "Our users really like it," said Bien-Aime. "Banks are happy because they're covered with accurate comparisons performed by geographically competent appraisers. Homeowners are happy because they get the right value for the property."

"MapQuest enables appraisals to be completed as efficiently as possible. It just works and we don't have to think about it. No other solutions are more functionally-rich and stable than MapQuest for Business."

--Global DMS CEO and President, Vladimir Bien-Aime

"MapQuest enables appraisals to be completed as efficiently as possible," said Bien-Aime. "It just works and we don't have to think about it. No other solutions are more functionally-rich and stable than MapQuest for Business." His experience in working with MapQuest has been equally positive. "The people at MapQuest have always been very good to work with, in support and account management," he said. "The MapQuest team is quick to work with us for all our needs. It's been a really great relationship between Global DMS and MapQuest."

Global DMS and eTrac are registered trademarks of Global DMS, Inc.

New Release: MapQuest.js, v1.2

Today we are launching a point release, version v1.2, of our MapQuest.js product. This release focuses on bug fixes, adding additional options and events, as well as the introduction of a new directions control. A few small improvements to point out include an upgrade to our Leaflet.js library depen...

Autism Therapists Save Time and Money with MapQuest for Business

Ever since the Center for Autism and Related Disorders (CARD) implemented MapQuest for Busine APIs in 2013, the company has saved a quarter million dollars and streamlined their more than 2,500 therapists' daily routines. In addition, time and mileage is now reported automatically for each of their...

Xevo Picks MapQuest for Business for Millions of Passenger Vehicles

When Seattle-based Xevo needed highly-accurate and reliable geospatial data for the company's in-car software platform, MapQuest for Busine fit the bill. The company's Journeyware system is embedded into millions of pa enger vehicles manufactured by several of the world's largest carmakers, includi...

QTC Uses MapQuest for Business for America’s Heroes

Since 2000, QTC has performed more than four million physical and diagnostic tests for U.S. veterans acro the company's 60+ office locations nationwide. Owned by Leidos, the Los Angeles, California-based company, QTC is the largest provider of government-outsourced occupational health and disabilit...

MapQuest is Back ... to the TechCrunch Disrupt Hackathon!

ThingSpace and MapQuest, a Verizon platform and company, will be a returning key sponsor of the TechCrunch Disrupt San Francisco Hackathon on September 16-17, 2017, at Pier 48 in San Francisco. Developers and engineers descend from all over the world to take part in this 24-hour hacking event to bu...

Mental Health Clinicians Reach Patients via MapQuest for Business

Mapping out daily routes for clinicians to visit more than three million mental health patients nationwide involved complex APIs and an unsustainable pricing model for Norfolk, Va.-based Welligent. That was until the company's Founder and CEO Charles Sutelan discovered MapQuest for Busine ' geospati...

Bon Secours Health System Saves Time and Money for Mobile Caregivers Using MapQuest for Business

With more than 500 therapists, social workers, nurses, home health aides and hospice workers visiting up to six patients per day, Bon Secours Health System logs millions of miles each year. Thanks to the integration of the MapQuest for Busine Directions API with Bon Secours' electronic medical reco...

CompanyMileage Saves Mobile Health Providers Millions with MapQuest for Business

Geocoding millions of patient addre es each month was once a challenge for Dallas, Texas-based CompanyMileage, due to inaccuracies with the company's previous geospatial service provider. This was of utmost concern for the company, whose mobile health provider client base relies upon CompanyMileage...

MapQuest for Business Enables Safe, Reliable Furniture Deliveries

With 20 million furniture deliveries per year, accurate and reliable geocoding and directions was imperative. Enter MapQuest for Busine . Retail Architects is a Ft. Mill, N.C.-based developer of Loft, a retail management software product used by top 100 furniture retailers. Since partnering with Map...