Wednesday Mar 09, 2022

74. iGUIDE Providing ANSI Z765-2021 Compliant Measurements and Reporting for North American Clients

Introduction by Planitar (iGUIDE) CEO Alexander (Alex) Likholyot:

Property measurement standards are not a topic that gets a lot of attention in the industry media, but they are core to our business at iGUIDE.

Fannie Mae will require all its appraisals to follow ANSI Z765-2021 Measurement Standard starting April 1, 2022.

The ANSI Z765 standard was originally created in the 90's and lately has seen a string of updates in 2019-2021. In February 2022, Planitar added the ability to choose a square footage reporting standard for every iGUIDE. We currently support RECA RMS, which is mandated in Alberta with several other Canadian provinces looking at it, and ANSI Z765-2021, which has been a recommended standard in the US, is required in North Carolina for MLS listings, and which will now grow tenfold following the Fannie Mae's announcement.

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WATERLOO, Ontario, Canada - PrZen - Monday, 28 February 2022 -- iGUIDE – creator of an industry-leading spatial data solution for use in the real estate, insurance, restoration, property management, and affiliated industries -- announces ANSI Z765-2021 compliant measurement and reporting to facilitate highly accurate residential square footage measurements for clients throughout North America. The ANSI Standard is the accepted method for the National Association of REALTORSⓇ and, most recently, by the North Carolina Real Estate Commission.

"This process has been about bringing our clients in America the best, most accurate services we can align with their systems. We also wanted to be looking at expanding our influence to states like North Carolina where there is an understanding that reporting the square footage is critical to giving prospective purchasers accurate knowledge, and building trust between the agent and their client. We want to be the tool to help facilitate that," said Michael Vervena, the iGUIDE VP of Sales & Marketing.

Developments in the residential real estate market have resulted in a growing number of square footage disputes among home buyers, home sellers, Real Estate Agents, Brokers, and appraisal professionals. Due to this, an increasing number of real estate boards are beginning to require the use of ANSI standard when measuring and reporting square footage.

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iGUIDE media release continues in the We Get Around Network Forum (www.WGANForum.com)

https://forum.we-get-around.com/topic/16560/page/1/iguide-ansi-compliant-measurementsreporting-for-north-american-clients/

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