Study on FieldSmart Evaluations Proves Their Worth

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The COVID-19 pandemic threw the commercial real estate (CRE) market into flux, creating an enormous degree of uncertainty that only underscored the importance of accurate and reliable CRE property valuations.

While traditional USPAP Appraisals offer an accurate and in-depth method for CRE property value derivation, their use can be overkill for less risky, small-balance commercial loans especially in a post-pandemic market that depends on fast, efficient results.

Boxwood’s FieldSmart Evaluation reports provide a unique blend of cost-efficiency and reliability that make them an advantageous tool for lenders in today’s property market. With a level of accuracy and consistency that is comparable to standard Appraisals, FieldSmart Evaluations offer clients peace of mind in addition to saving them time and money.

But exactly how reliable are Boxwood’s FieldSmart Evaluations?

We recently conducted a statistical validation study of Boxwood’s FieldSmart Evaluations that found that our reports compare favorably to CRE Appraisals in terms of accuracy and reliability. In fact, one of the headline findings was that 78% of all FieldSmart valuation estimates fell within 10% of the post-hoc sales price and, altogether, 88% of the valuations were within 15% of the sales price.

This strong performance in our desktop valuations also compares favorably against tests of residential automated valuation models (AVMs).

To learn more about our FieldSmart test results and the benefits of utilizing Boxwood’s commercial evaluation services, read the report synopsis by registering for the free download below.

Yes! Please send me Boxwood’s study, “Understanding the Reliability of FieldSmart Evaluations.”