Real Integrated Technology LLC, Chicago, plans on following up its property inspection technology offering currently used to manage inspection documents and data sent to commercial mortgage servicers with automation that the residential market can use.
Mark Chrisman, founder and CEO, told this publication Friday that it plans to provide similar automation for the residential industry and the insurance industry next.
“The platform is designed to be really flexible, and we are working with content partners on those inspection products,” he said.
There has been a push from some quarters for more use of mobile technology when it comes to inspections and other in-the-field aspects of the residential real estate owned business.
Real Integrated Technology since October has been offering the commercial real estate inspection-related automation, which was designed to address inefficiencies Chrisman said he and his team originally observed in doing consulting work for some funds buying pools of commercial mortgages.
“We wanted to save time and move the data in more efficient ways,” he said, noting that he found the process lacked an automated way to transmit and track documents, photos and other data between users. This spurred his company to create a Web-based platform where “everything pops up on the application on the iPad.
“It effectively eliminates the need for the servicer to have someone print off reports” in the property inspection information and document exchange, unless such reports are needed for submission to an entity like Fannie or Freddie Mac, he said.