From Fragile to Fortified: Fixing an Excel Real Estate Valuation Model
%
Software Crashes eliminated
Hours saved annually
Impacted Users
The Bottom Line
ProsperSpark turns problematic software into reliable solutions, saving clients time and frustration.
Their experienced team pinpoints the root causes of software issues and creates lasting fixes, not just temporary patches.
They collaborate closely, understanding their client’s needs and delivering custom solutions that boost efficiency and cut costs.
Situation
A dominant force in US property valuation, with a team exceeding 250, faced a software challenge. Their custom-built software, designed to make their work more efficient, ended up causing significant delays and hindering their operations. Constant slowdowns turned minutes into hours, and frequent crashes wiped out hours of meticulous work, leaving employees frustrated and the firm struggling to meet deadlines.
Despite having a skilled in-house development team, the problems persisted. A hybrid of C# and Excel, the tool had become a complex application, creating management challenges due to its need to function on both Macs and PCs. This mix of platforms added an extra layer of difficulty to troubleshooting. Limited access to the core C# components further hampered their efforts. Previous attempts had offered short-term relief but hadn’t addressed the root cause. The firm felt lost, unsure of how to overcome this seemingly insurmountable challenge. They desperately needed a fresh perspective, an outside expert to cut through the complexity and offer a clear path forward.
Solution
ProsperSpark stepped into this chaotic scene with a clear mandate: to transform instability into reliability and inefficiency into effectiveness. The journey began with a comprehensive review of the plagued toolset, an effort led by an experienced ProsperSpark Project Manager who quickly identified defects, potential bugs, and error-prone processes. This deep dive into the VBA macros, Excel spreadsheet infrastructure, and C# components exposed the root causes behind the toolset’s vulnerability. ProsperSpark’s team then crafted a targeted improvement plan focused on debugging the tool and implementing robust error tracing and handling mechanisms. This strategy was designed not just to fix the existing issues but also to fortify the toolset against future disruptions.
Collaboration was critical to the project’s success. ProsperSpark worked hand-in-hand with the client, meticulously reviewing the discovery findings and proposing solutions that ranged from minor adjustments to significant overhauls. This collaborative approach ensured that the selected improvements were impactful and aligned with the client’s needs. The implementation phase was followed by rigorous testing with a select group of the firm’s employees, ensuring the functionality and stability of the revised toolset before a company-wide rollout. The client estimates that the complete cessation of crashes and dramatic increase in operational efficiency will translate into a staggering 12,000 hours saved annually. This success laid the groundwork for an ongoing partnership, demonstrating the power of external expertise in overcoming internal challenges and setting new benchmarks for excellence in the real estate valuation industry.
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At a Glance
Client
An industry leader in the US property appraisal market.
Industry
Real Estate
Organization
- 250+ Employees
- In-house development team responsible for creating tools using C# and Excel
Business Challange
- The firm faced toolset crashes and slowdowns, leading to significant work loss and inefficiency among its appraisers.
- Despite a large in-house development team, previous attempts to resolve these technical issues had been unsuccessful, complicating operations on both Apple and PC devices.
Services
Tools
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- Excel, Power Query, VBA (Visual Basic for Applications)
Market Considerations
- Adhering to regulatory standards and professional ethics is crucial for transparency and accuracy in valuations.
- Access to high-quality, comprehensive data is vital for supporting valuation accuracy and decision-making.
- Adapting swiftly to frequent market and economic shifts is crucial for maintaining current and accurate property valuations.
- The integration of specialized software and tools, AI, and machine learning enhances accuracy and efficiency in real estate valuations.
Key Takeaways
- ProsperSpark turns problematic software into reliable solutions, saving you time and frustration.
- Their experienced team pinpoints the root causes of software issues and creates lasting fixes, not just temporary patches.
- They collaborate closely, understanding their client’s needs and delivering custom solutions that boost efficiency and cut costs.