Introduction to

PropertyPro is a software system used by professional Valuers in valuation firms to create, save and
report property valuations.

Most commonly, these are residential valuations. The PropertyPro system has been designed to
capture data and prepare reports which conform to the requirements of the Australian Property
Institutes (API) Memorandum, as modified during 2011 and adopted by the industry in 2012. These
are the so-called RVSA reports. The PropertyPro system also enables various other valuations to be
made and reported which are non-RVSA, such as valuations done for capital gains, family law or
other private reasons.

This introductory document is focussed on giving prospective users a quick insight into the system.
The following pages show screen shots and provide a brief narrative on the way the system is used
to create and report a new valuation.

A brief history of PropertyPro

PropertyPro software has been in the market and actively used by valuers for a number of years.
Earlier versions used a technical architecture known as client-server which required a full copy of
the software and its underlying database to reside on the machine(s) of the valuers using it. The
new PropertyPro system changes this, taking advantage of the internet to separate the database
and software application into a web-accessible service which the user requires only a PC with a
browser and internet access to use. All data resides in secure servers, which saves firms the need to
concern themselves with backups, performance and other technical issues. The valuations data is
still the property of the valuer / firm who is the PropertyPro client and it can be extracted and
returned if required. Users of older versions of the system can upgrade to new version and have
their old valuations and sales evidence imported to the new online system.

Licensing options
Per-valuer: The system is usually licensed for a firms use on the basis of a fee per active valuer per
month. An active valuer is someone who signs a valuation. If two or more people in your firm sign
valuations, that means two or more licenses are required. As of the date in the footer of this
document, the fee is $100 per month per valuer. Check our website (www.propertypro.net.au) for
the most current fee structure. We can bill your credit card monthly, or you can elect to pay
annually in advance. If there are more than 5 valuers in your firm, volume discounts apply. Again
see the website for details.

Per-valuation: There is an optional fee-per-valuation licensing arrangement for firms performing low
volumes of valuations. We call this the voucher option, and details are on the website noted
above.

Purpose of this document

As you consider PropertyPRO Online for your firm, you will want to understand what it does, and
how it does it, in more detail than a simple brochure can realistically provide. This document is one
of the ways to familiarise yourself with the system. It devotes one page to each major function in
the system, with screen shots and brief explanation of what each page does.

There are other ways as well to gain understanding of the system.

There are several introductory videos available at the website noted above;
The full Help document is accessible online, at http://tinyurl.com/PPO-help

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Starting a new valuation

This is what we call the File tab screen. It is the main home screen for any valuation.

It captures essential basic information about the valuation job: the property address, the lender (if
its an RVSA valuation), the due date, the valuation firm and valuer assigned to the job, and a
number of other things.

Only a few of the fields on this screen need to be completed to create and progress the valuation
job. They are the ones with their field names in red. Others can safely be left blank to begin with,
to be filled-out later. Some others, such as the actual valuation amount, are not entered on this
screen at all but instead come back to this screen from another screen.

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Property Summary

This screen captures an overview of the property and collects some of the major major factors contributing
towards its valuation, such as what type of building this is, its age, the site
te dimensions, building type,
the number of occupancies in the property, any requirement for essential repairs, the existence of
environmental issues or heritage issues, and few other factors. An assessment of its marketability is
also entered here.

Another portion of this screen (which is not shown above) opens-up

opens up if the valuation is for a Planned
Building (TBE - To Be Erected).
rected).

The property address and title details come across to this screen from the main File tab screen (on
the previous page of this document). However, these details are also editable on this Summary
screen.

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About the Building

This Building screen captures more details about property.. The first portion of the screen
summarises the number of storeys, overall style and construction features. The next part goes into
greater detail. Here information is entered about the number of bedrooms, bathrooms and other
rooms that comprise the dwellinglling and their sizes, as well as the accommodation / space for motor
vehicles. It also captures a list of the prime-cost
prime cost items which are included in the building.

The remainder of the screen provides for free-text

free text entry of commentary on the layout, fixtures
fixt and
features and any ancillary matters worthy of specific comment.

If the building contains more than one occupancy, additional versions of this screen permit
p adding
details about the additional occupancies.

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Risks

Risk assessment is an important aspect of the valuation process. This Risk screen captures that
information.

The four categories of property--related risk and the four categories of market-related
related risk as defined
by API are presented, each with a 5-point
5 scale.

As required by the Memorandum,

emorandum, the software expects a free-text
free text comment to accompany any risk
rating of 3 or greater. The free-text
text box to capture these comments
comments is a simple WYSIWYG editor that
provides for text style formatting and spell checking.

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Sales Evidence

On this screen a valuer nominates evidence of comparable sales of other properties which help
justify and verify the valuation being declared for the subject property. The system maintains a
database
abase of these sales used as evidence which can be added to, searched and used/re-used
used/re as
required. New sales evidence can also be added using this screen.

Each selected comparable property is briefly described. A valuer can also provide comments on any
major differences between the comparable property
pro and the
he subject property which might
otherwise not apparent from the description.

The lower part of the screen captures the valuers assessment of other important matters regarding
the planned sale and general saleability of the subject property, what the current
current market is like for
properties of this type, an estimate of whether a sale would be likely to take a long time and
whether this proposed sale seems to be in-line
in with the prevailing market.

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Value

This screen is where the actual valuation of the property is entered.

Data fields capture the land value and the value of buildings/improvements on the th land to generate
a total value. This figure is expressed in words as well, and is the figure that is visible on, but not
editable on, the main File Tab screen mentioned first in these notes.

If relevant, there are fields which can be used for planned works and the value that will be applicable
when those works are complete.

If the property is currently rented, some information about that is also captured here.

If there are documents the valuer believes the lender/client should see as they assess the valuation,
that is indicated on this screen, with comments about exactly what should be sighted being entered
in the Comments screen described later herein.

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Land

Whereas the summary screen (mentioned earlier herein) captures the land dimensions, this Land-Land
tab screen captures mostly free--text data about the land / property. There are data fields on this
screen where remarks can be entered regarding the location, the neighbourhood, site access and
the services available, as well as remarks about zoning.

A drop-box
box provides for recording how the valuer formally identified
identified that this is the right property to
be valued. The screen also provides the opportunity to indicate whether the Title of the property
has been sighted by the valuer, or not.

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 Introduction to

Comments

ere are a number of parts of a valuation where additional

There additional commentary may be required to clarify
certain aspects. This Comments screen is the place where those remarks are entered.

Amongst the most common reasons to enter comments is where one or more risk factors are rated
at 3 or more on the API-approved ed scale. Additional reasons include whether there are heritage or
environmental factors which may affect the value of the property, whether any encumbrance exist,
if there are additional relevant documents it would be advisable to sight as the valuation is
considered, or if the likely time-to
to-sell will exceed six months.

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Workflow
In the course of working on and ultimately completing a valuation job, it progresses through
different statuses as time passes.
passes

Following are the sequential situations of workflow any particular valuation may be in.

Pending Inspection

At this stage, the basic data to perform the valuation is in the system and a valuer may or may not
have been assigned the job.

Inspected

This status means a valuer has visited

visited the property and carried out necessary inspection. The data
gathered during that inspection may not necessarily be in the system at this stage.

Ready for Review

The data gathered at the inspection has now been entered. This data entry may have been done by
support personnel, not necessarily by the valuer him/herself. The valuation is now ready for the
valuer to review and add or edit any comments and remarks that may be required.

At the conclusion of this step, the valuation

v is ready to be signed by the valuer.

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 Introduction to

Waiting for Authorisation

A valuation passes through this stage if the assigned valuer is not authorised for independent
valuations or if the property value exceeds $1m. In these situationss the valuation requires a counter
signature by a more senior valuer.

Ready to Send

At this stage a valuation is placed in Read Only mode and cannot be edited/amended further unless
its status is deliberately altered, by clicking Amendment Required.

Valuation is Sent

Once the report is sent, the status of valuation changes to sent.

History
A full workflow history a chronology of events is saved by the system
ystem as a valuation progresses
and can be reviewed at any time during the process or after the valuation
valuation is completed.

Copies of the report ass it was sent (whether sent in different versions on one or more occasions) are
available for viewing here, and may be printed
pr if required. Printing a sent report gives you a copy
without the preview watermark,
mark, for your records.

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 Introduction to

Previewing and Sending Reports

A preview of what the report will look like is available

at any time during the process by clicking preview
Report on the File-tab screen.

These do-at-any-time previews have a watermark

preview across each page and, of course, are based
on the as currently entered / available.

Once a report is finalised and sent, the PDF that is

emailed and saved in the system does not have a
watermark saying preview.

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