LIXI Quote Process

Valuation Exchange is implementing the ability to request a quote from multiple valuation firms on a request where a standardised fee cannot be established. These quotes will then be sent to the client for a decision on who to select for allocation. We want to ensure this is integrated within LIXI. This feature may apply to both residential and commercial valuations.

The Quoting process is required to ensure that property types that do not have a set fee or where complex security is identified are subject to allocation to multiple firms for a quote to be returned.
The valuation requests that are identified to require a quote will in effect, panel out to all Valuation Firms that are associated with the postcode and property type to provide a quote.

New LIXI SOAP Operations

  • Outbound quoteRequest() sent to the valuation firm requesting a quote
  • Inbound provideQuote() to provide a quote with turnaround time and price
  • Inbound rejectQuote() to reject a quote request
  • Outbound quoteCancel() sent when a quote request is cancelled or the job is assigned to another valuation firm before a quote is provided (TBA)

There will also be a new Inquiring status.

Remaining LIXI Process As Per Usual

The Job will be unable to be selected to be accepted through the incoming process, only quoted or rejected (if ValFirm considers them not appropriate to complete).

If the bank decides to accept the quote provided by the valuation firm, the normal process will follow from the beginning, starting at the initial request. However, the valuation may be in Pre-Valuation status if documents are required.
We will not support fee change requests for an in-progress job as a result of this project.