With home prices in the U.S. rising, many first-time buyers are purchasing their first place, and many seasoned buyers are choosing to trade up or purchase a second home. Many reports go along with purchasing a house that is important for multiple parties, including appraisers, buyers, sellers, buyers and sellers real estate agents, loan officers, and banks. Real estate transcription can expedite all of these processes.
How Real Estate Transcription Helps Appraisers and Inspectors
Reports such as a home evaluation/real estate appraisal, home and property inspection, and more are important for buying. They need to be processed quickly and accurately. Using a real estate transcription service to help you with these reports is the most efficient method. This will help inform everyone involved in buying your new home and will keep everyone on the same page.
By dictating the home inspection and/or on-site report, the inspector can move through the property quickly while still ensuring he covers all of the important features and details that speak to the overall condition of a house. It streamlines the inspection, as the inspector will not have to stop and write down everything he is doing or click through a series of menus. He or she can also dictate short notes with a click of a button. It also allows for more freedom and clarity on how much or little they can say in the appraisal reports.
Real-World Example
For instance, they can dictate a long note on a faulty boiler or roof after inspecting them without worrying about running out of room, such as when using a paper or pre-formatted report.
Dictation also allows for skipping pre-defined sections on both online and paper reports that are not present in a property (for instance, a third bedroom in a two-bedroom house or issues with the calculation of reported square footage), leading to a more organized and personalized report. However, these recordings must be as accurate as possible, as this information might justify decisions such as price appraisals or loan approvals.
Dictating and transcribing also ensures this report is neat and easy to read for all parties involved while containing all relevant information. This allows buyers and the buyer’s agent to read and ask for any repairs or monetary compenstaion if needed. It also lets the seller know possible problems with the property that will affect the sale or future sales.
Transcription For Real Estate Banks And Insurance Companies
Dictated reports are also important for the bank when dealing with a bank-owned property or short sale. The real estate transcription of the home inspection will provide the bank with information about the property’s exterior and interior condition, which can affect the financing or loan a buyer is qualified or approved for.
A home evaluation is another important real estate tool for banks. A home evaluation (or real estate appraisal) is when banks appraise the fair market value of a property. This assessment can affect what the buyer pays for the house and whether or not they can qualify for mortgage financing.
Also, inspectors, evaluators, and insurance personnel can customize templates specific to their report type with real estate transcription. This keeps the documentation they produce neat, consistent, and organized. It also allows for the email or fax distribution of reports, further streamlining the home-buying process. Recordings can be transcribed and documented for the MLS (Multiple Listing Services).
Choose Human Transcription For Guaranteed Accuracy
A.I. and automatic speech recognition might be options, but they’re not the most accurate options. For instance, ASRs and other automated transcription software and programs can only ensure 85% accuracy at most in all types of recordings. Transcripts need to be rechecked by personnel to ensure their correctness, which defeats the purpose of making transcription easier and faster.
On the other hand, human transcription routinely reaches 98% accuracy with reasonable turnaround times. Some providers may even reach up to 99%. If your goal is to maximize efficiency and minimize errors, then this is the option for you.
Security in Real Estate Transcription
Privacy and security are important concerns for every outsourced business process, and transcription is no exception. Multiple legal and regulatory requirements govern the handling of real estate documents to protect buyers, banks, insurance companies, appraisers, and inspectors.
Security and privacy coverage covers clients and realtors during the business relationship and continues after the completion or termination of the transaction. This extends to transcripts produced from recorded material from any inspection, appraisal, or evaluation. Additionally, any dispute resulting from real estate transactions may require these transcripts to be produced.
Ditto’s Guarantee in Privacy and Security
Here at Ditto Transcripts, we don’t skimp on data protection. We comply with multiple security policies like CJIS and HIPAA — which set some of the highest security guidelines for transcription companies. And we’re not shy about implementing the same security level for all of the work we do. We’re covered with the latest in security technology, including:
- Network security monitoring tools
- Encryption tools
- Network defense and wireless tools
- Web vulnerability scanning tools
- Packet sniffers
- Firewalls
- Antivirus software
- Antispyware
- Endpoint protection
- And more.
Ditto’s Professional Transcriptions Ensure Fair Housing and Real Estate Processes
Real estate professionals, home inspectors, and licensed appraisers may utilize Ditto’s expert and accurate transcription services to make their work processes smoother. It will save them precious time, allowing them to allot their efforts in valuations, buyer engagement, and other valuable activities. Maintain your business’s credibility by depending on our 99% accuracy rates and access your files remotely through our secure HIPAA and CJIS compliant online portal.
No long-term contracts or annual fees required — you can test out our services for free and see if our processes and guidelines fit your transcription requirements. Any special formatting or requests? Simply indicate your customization requirements, and you’ll get them on your transcripts.
There is no need to hire or train in-house transcriptionists for the job. We’ll take care of your real estate transcription needs fast, accurately, and at an affordable price.
Ditto Transcripts is a Denver, Colorado transcription services company that provides fast, accurate and affordable real estate transcription services for individuals and companies of all sizes. Call (720) 287-3710 today for a free quote, and ask about our free five-day trial.
