1. Valcre Online Support
  2. Valcre Online + Valcre Mobile
  3. Valcre Online
  4. Properties & Comparables

Valcre Online: Using Expense Comparables

Avatar
Jen McGee
  Available on Plans Essentials Professional Enterprise

This guide will teach you how to create new, edit existing, and link Expense Comparables in Valcre Online. 

  • Note: The blue-shaded fields are suggested to be populated, but only the Expense Year field is required. Once data enters a shaded field – the shading will change to white. The Primary Photo from the Property Record will show at the top of the page, and the location will be on a map.

Table of Contents

  1. Adding New Expense Comparables
  2. Updating Existing Expense Comparables
  3. Creating a Comparable Set
  4. Add an Existing Expense Comparable to a Job

Prerequisites 

  1. Valcre Subscription: Essentials, Professional, Enterprise
    • Note: Comp Suggestions requires an AI add-on
  2. Existing Property Record

Adding New Expense Comparables

This video will guide you through creating an Expense transaction record to use as a comparable for future jobs. Below, you will find the step-by-step directions.

Step 1:  Locate the relevant property record to attach the Expense transaction record to by selecting Properties from the left side menu and entering the search properties into the search bar.
Step 2: Select the property to add to the Expense transaction record by selecting Open.
Step 3: Select the Comps tab from the top menu
Step 4: Any transaction records already added to this property will be located here. Select Add Expense to add new or additional Expense transaction records. 
Step 5: Enter the relevant Expense information

Snag_60ad7b3.png Pro tips:

  • The NRA and Property Units will auto-populate using the information in the Property Record.
  • Populate the Rental Income and the Other Income fields in price per square feet per year format.
  • Populate Expense category lines within the $/SF or %EGI columns. The corresponding column will automatically calculate. You may skip to any expense category that you need to while leaving blanks. The expense categories match up with those used within the Valuation Workbook. You should be as complete as possible when entering your expenses into the various expense categories in Valcre Online; once you import the expense comparable into the Valuation Workbook, you can re-assign any expense category to be included within an expense category you are using within your appraisal.

Step 6(optional):  Enter Confirmation details

This section allows you to enter all contact information for the appraiser who confirmed this comparable.
 

Step 7 (optional):  Add Files

There are two ways to attach any relevant documents regarding the Expense.

Option 1:  Select Add from the top menu, and then select Files and Photos. Finally, drag and drop the files/photos into the box or use Select Files to import from your computer.
Option 2: Select the Files tab from the top menu and then select Add Files. Finally, drag and drop the files/photos into the box or use Select Files to import from your computer.
Snag_60ad7b3.png Pro Tip: The starred photo will be the primary image and defaults to the first photo uploaded. To change it, drag your desired photo to the front of the list.

Step 8 (optional): Related Tab

Use the Related Tab to see what other jobs your Expense Comparable is related to.
Step 9 (optional): If you want to export your expense transaction, select the Export option from the top menu and select your export type.
This is now locatable in the Expense section of Valcre Online. 

Updating Existing Expense Comparables

Step 1: In Valcre Online, select the Expenses tab from the left-side menu and search for and open the Expense transaction you want to update.
Step 2: Make any edits required

Creating a Comparable Set

Add Comps using Comp Suggestions

Below the set, a list of AI generated comparables from your database will generate with a Similarity Score. 

These comparables are suggested for inclusion into your set; saving you search time and ensuring no comparable is left behind. Adding them is entirely your choice. 

  • Note: Comp Suggestions requires an AI add-on

Step 1: Adjust filter (if needed)

The filter's default setting includes Confirmed Comps, comps that match your Subject Property Type, and are within 0-3 miles. 

Edit or add additional filter options by selecting the filter icon at the top of the Comp Suggestion list.

Once you have set your preferred filters, select Apply.

Step 2: Add suggested comps

Select the + sign to add any comp to your set
Snag_60ad7b3.png Pro tip: Accidently added a comp you didn't mean to? Select the X next to the comp to remove it from the set.
Step 3: (optional) Reorder comps in the set by dragging and dropping them into the desired order. 
Learn more about Comp Suggestions with our guide. 

Manually Add Comps

Step 1: Select Expenses from the left-hand menu, search for an Expense transaction to include in a set, and select Open.
Step 2: Select the clipboard+ icon to add this comparable to a Job.

 
Step 3: Search for and select the Job to which you wish to add this comparable and choose Next.
Step 4: Select Add expense to a new Set. Give the set a name to help identify it later, and select Add to Job+Set.
Snag_60ad7b3.png Pro Tip: After creating the set, you can add additional comps following steps 1-3. Instead of selecting New Set, select the existing set linked to the job and select Add to Job + Set. 

Add an Existing Expense Comparable to a Job or Set

Step 1: Locate the Expense Comparable 

Select Expenses from the left side menu and use the search field to locate and open your Expense Comparable.
 
Step 2: Select the clipboard+ icon from the top menu
Step 3: Search for the job you wish to add the Expense Comparable to and select Next

Step 4:

  • Add to a set: Select the set (if applicable) to add the expense comparable and select Add to Job + Set.
  • Add to job (without a set):  Select Add to Job to add the comparable without a set.
Continue Learning about Valcre Online with our next suggested guide: Creating a Survey

 

Additional Questions?  Valcre Support is ready to help with all your Valcre product questions! You can connect to us via phone, email, or chat! 

Articles in this section

See more
Was this article helpful?
0 out of 0 found this helpful

Comments

0 comments

Please sign in to leave a comment.