Created: 3/1/2024 Updated: N/A

Information and Use

Nova is an efficiency and analytical tool for residential real estate appraisers (Nova users). It provides data from multiple sources (including MLS data provided by the user) based on the user’s settings in addition to results of mathematical calculations on MLS, public records, and cost data. The mathematical results assist with market trend analysis, the cost approach, and adjustment support. Nova provides results to the user but the appraiser must determine the actual trend, adjustment, etc. Per USPAP Advisory Opinion 37, the appraiser is responsible for the accuracy of the output of analytical tools they utilize (e.g. Nova) and the appraiser must have confidence that the technology uses data that is relevant and that the output is mathematically correct and sufficiently reliable for use in an assignment. Due to the nature of the data source(s) (the data sources are your MLS that you subscribe to, public records obtained through various sources, and cost data), True Footage and its members and data providers expressly disclaim any warranties regarding accuracy and completeness of the data/information provided to the appraiser by Nova. In addition, Nova has many settings that the appraiser controls which affect the data and results. The appraiser should be careful to examine these and modify them to their preferences.

For our part (True Footage), when we are made aware of a problem with Nova (an error translating data or a mathematical error in calculations), we will work as quickly as possible to remedy the problem and keep the appraiser informed during the process. This also applies to any other error found to be a result of Nova not functioning correctly. 

Nova does not generate an appraisal/valuation report of any kind but assists the appraiser by importing their data and performing many calculations to quickly provide results based on the data and settings.

Licensing Agreement

Each Nova customer is required to utilize a separate username (email) and password. Nova is licensed for use to its customers in their capacity as a professional real estate appraiser (or unlicensed assistant/administrative personnel who performs work for the real estate appraiser). 

A Nova subscription does not provide/imply ownership of Nova but is only a license to use Nova for a month or year. The user has no ownership rights in Nova; the subscription is a license to use Nova while in effect.

The Nova license is for one licensed/certified appraiser. While actively subscribing, you have the right to use Nova as much as you’d like during a given month, however, we reserve the right to charge an additional fee (or terminate service altogether) for excessive use.

IMPORTANT: Both the user/customer and True Footage have the right to terminate service at any time and for any reason. This includes excessive use of Nova where we may terminate service or request additional payment to cover our costs for that excessive use.

Privacy

Any personal, identifying information provided to True Footage is used for identifying your account and assisting us in customer support. Your secure payment information is never provided to True Footage or any of its members or any of its data providers. Users of a la mode software pay through their online store and are subject to the terms and conditions associated with that store. If you use other products, payment is made through Stripe (the credit card processor that we utilize).

We will not track your location or browsing history. During the Account Creation process, you can opt-out of any promotional or “tutorial” emails and only receive emails critical to the application itself. You can also unsubscribe to any list at any time.

The choices made by the user regarding adjustments along with the associated property data are stored by Nova with each of your sessions. True Footage may use those adjustment choices and data to improve its applications/offerings. NOTE: the adjustments you choose, along with the data, will ALWAYS be anonymous and NEVER identified with a specific property to other users.

An example of using this data to improve our applications is Peer Data. We will allow users of our products (that are opted-in) to see what a typical adjustment is by other appraisers in that area (based on what appraisers are selecting as adjustments for “similar” properties). In addition, to further ensure confidentiality, we will require enough appraisers in a given area so that it will not be possible to identify which appraisers made what adjustments. NOTE: we verified with the Appraisal Standards Board that this is acceptable. Peer Data is considered secondary data and shouldn’t be used to replace other research and analysis and should not be used as the sole source for making an adjustment.

In addition, assignment results will never be shared.

What You Should Expect From Us

Up-time (aka Availability): Based on past performance we estimate that NOVA will be available 99% of the time or more in any given month.

As a licensed Nova user, you should expect a product that provides many mathematical calculations accurately, based on the MLS data that you provide and your settings, in addition to public records and cost data. If there is an error found in how Nova handles the data or calculations you can expect that once we are notified of the issue we will work quickly to solve that problem. See above regarding up-time and regarding Privacy which also covers what you should expect from us. Note: you have the right to terminate services at any time.

What We Expect From You

In order to upload your MLS data to Nova you must have an agreement with that particular MLS system or board which allows you to use their system and export data for your use as an appraiser.

We expect that you take the time to understand the principles behind Nova, and how it operates and performs the operations to the extent that USPAP and applicable law require. You should be able to understand how Nova operates as noted within Advisory Opinion 37. We have extensive documentation within Nova and online to assist with this (including text and video).

We also expect that you will verify the data yourself, in addition to performing due diligence to verify the calculations/results within Nova. We also expect that you will review all of the settings to verify that they are set to your liking. We expect that you will contact us upon noticing any inaccuracies in the data so we can work to update Nova as soon as possible.

Last, we expect that you will not start litigation against True Footage or its members since we are not responsible for the accuracy of the data you utilize throughout the appraisal process and/or in your appraisal report and we are not responsible for the opinions and/or conclusions you arrive at regarding adjustments. The appraiser performing the appraisal is always responsible. 

All that being said: DISCLAIMER

EXCEPT FOR TRUE FOOTAGE’S GROSS NEGLIGENCE, WILLFUL MISCONDUCT, OR FRAUD, TRUE FOOTAGE’S TOTAL LIABILITY AND YOUR EXCLUSIVE REMEDY UNDER THIS AGREEMENT IS LIMITED TO DIRECT MONEY DAMAGES NOT EXCEEDING THE AMOUNT PAID BY YOU TO TRUE FOOTAGE FOR THE USE OF NOVA.

NOVA IS PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY, ACCURACY, COMPLETENESS, AVAILABILITY, NON-INFRINGEMENT, OR FITNESS FOR A SPECIFIC PURPOSE.

Refunds

Nova is a subscription service with no contracts. You can cancel your subscription at any time. You can get a refund within 48 hours of any purchase within Nova and this should be automatically offered to you within the program when canceling your subscription (assuming it’s within 48 hours of purchase). NOTE: for user’s of a la mode products, all billing, payment, cancellation, and refunds are handled through a la mode and their refund policy may be different.

Data Providers

Nova’s public records data providers are Realist (owned by CoreLogic), DataTree (owned by First American), and the cost data provider is DwellingCost. Those data sources could change at any time. We will notify all registered customers ahead of any data source changes. Any map data shown within Nova is provided by Google in addition to some front view photos.

Realist/CoreLogic: True Footage has licensed from CoreLogic Solutions, LLC (“CoreLogic”) certain portions or elements of the public records data available through the Software (“CoreLogic Data”). The CoreLogic Data may be used by You solely in connection with professional real estate appraisal activities arising in the ordinary course of business. The CoreLogic Data shall be subject to the same protections generally applicable to the data referenced in this Agreement, but in no event shall You be permitted to resell or relicense the CoreLogic Data or any portion or derivative thereof. CoreLogic may directly enforce these provisions and shall have all legal remedies available to True Footage as set forth in this Agreement and all other available legal remedies.

DataTree: True Footage has licensed from First American Data Tree LLC certain portions or elements of the public records data available through the Software (“Data Tree Data”). You shall use the Data Tree Data solely in connection with professional real estate appraisal activities arising in the ordinary course of Your business. The Data Tree Data is provided to You on an “as-is” basis, with no warranties, express or implied. You shall not resell or relicense the Data Tree Data to any third party.

Google: The appraiser/user can utilize Google Maps and/or the Google Street View of each property that is loaded into the Sales Grid of their appraisal report. These images are created by Google utilizing the address of each property that is either from MLS or public records and represent Google’s best attempt to get the location but there is no guarantee by True Footage or Google, implied or otherwise, that the map or Google Street View provided will show the actual, true property and location of the property. The maps are provided in the application and in a PDF that is added to the appraiser’s digital work file but Nova does not place those maps in the appraisal report. The Google Street View images (which are the front view of the property) are visible in the application and are only added to the appraisal report when the user chooses that option. These photos ARE NOT intended to be included in the final appraisal report but are there solely for verification purposes (as the user may see the Google Street View image in your Mobile Application as they drive up to the property OR they may see the photo of the property at the top of the Sales Grid in their report so they can verify the data for the property by seeing that Google image). All users should overwrite the Google photo with their own once they’ve taken their own photo. Images from Google are owned by Google. Please note that by using these images we (meaning Nova and the user) agree to abide by Google’s terms of use for these images and that use is subject to the current version of their Terms and Policy (linked here):

https://cloud.google.com/maps-platform/terms/

https://www.google.com/policies/privacy/

Updates to these Terms

Any material or critical changes or changes that adversely affect you, the user, will be provided by email. If you disagree with these changes you should stop using the service and contact us to let us know why. Perhaps we will change the Terms or we can mutually agree that Nova is no longer the right service for you. If you continue to use Nova it is understood that you accept the new terms of service.