API

Inbound Provide Quote

provideQuote() is a SOAP operation that may be optionally implemented as part of our LIXI Quote Process.

If the valuation firm decides to provide a quote, the following SOAP operation should be called:

int provideQuote(string valuationMessage)

We parse required data from the following locations in the LIXI workflow message (valuationMessage).

  • Quote comments: //WorkFlow[@Type="FeeNegotiation" and @FeeNegotiationStatus="Requested"]/Comment
  • Fee amount: //WorkFlow[@Type="FeeNegotiation" and @FeeNegotiationStatus="Requested"]/@NewFeeAmount

    This amount should exclude GST.

  • We will parse the estimated turnaround time (in days) as:

    //WorkFlow[@Type="FeeNegotiation" and @FeeNegotiationStatus="Requested"]/ExpectedValuationDate/Date subtracted by /ValuationTransaction/Date

    (This is basically, "now" minus expected date.)

We also expect:

  • ValEx VXJ Identifier (VPMAssigned)
  • ValuationTransaction/Message/MessageBody/Status/@Name = Inquiring
  • //Workflow[@Type="FeeNegotiation"]/@FeeNegotiationStatus = Rejected

Outbound Quote Request

quoteRequest() is a SOAP operation that may be optionally implemented as part of our LIXI Quote Process.

A quote will be sent to the valuation firms’s SOAP service. The following operation signature should be implemented:

int quoteRequest(string valuationMessage, amount)

Where:

  • valuationMessage is a full LIXI request message.
  • amount is for the valuation fee amount (if it is already a set fee ValEx). Note that if the amount passed through is zero, then it indicates that the valfirm that the fee will need to be quoted on.

The /ValuationTransaction/Message/MessageBody/Status/@Name will be set to Inquiring status to indicate that it is a quote.

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.

MessageBody/@Status

/ValuationTransaction/Message/MessageBody/@Status can have any of the follow values depending on the LIXI message type.

For workflow:

  • Accepted to accept a job
  • Assigned to accept a job and assign a valuer
  • Inspected when the property has been physically inspected
  • Delayed to delay a job (and record against SLA)
  • InProgress when a delay has ended or expired
  • Cancelled when a job has been cancelled

For valuation requests:

  • Initial for a standard request
  • Inquiring if the request is a quote request
  • AmendmentRequired if the report is being amended

For valuation responses:

  • ValuationCompleted

TitleSearched vs TitleSighted

The ValEx system was designed some time ago based on a version of Property Pro available at the time as a representation of the valuation standards.
Since then; the API Valuation Standards guidelines have been updated in a few simple areas.

One of these is the question “Has the title search been sighted?” replacing “Title searched?”

ValEx will be updating its user interface & output reports; as well as it’s LIXI parsing...

Instead of looking at:

//SiteDetailResponse[@TitleSearched] (Yes/No)

ValEx will look at:
//SiteDetailResponse[@TitleSighted] (Yes/No)

We are asking all LIXI valuation firms to investigate their current user interfaces and LIXI rendering behavior; to confirm that

  • The question is worded as per the API Valuation Standards
  • Both fields are populated with a yes/no dependent on the valuer input
  • This will allow ValEx to swap the basis LIXI parsing in regards to this area with no disruption to your end users.

    ValEx will be making the change during August 2011

Commercial Valuations

Valuation Exchange will shortly be commencing commercial and agri valuations for one of the major banks in Australia. If your firm conducts commercial or agri valuations, we would require you to accept the following new FullRegistered Service Types:

  • Commercial Long Form
  • Rural Long Form

See ValSubType and SubTypeNote Service Mappings for more information on how to determine the service type from LIXI.

The following fields will be for Commercial Short Forms:

Value Tab

Report Field LIXI Mapping (XPath)
Interest Valued //FullRegistered/@InterestInProperty
More info
Options: Fee Simple Vacant Possession and Subject to Lease.

Value Component //MarketValueAsIfComplete/Description
More info
Options: Existing Property or On Completion

Occupancy //vx:Job/vx:Report/vx:Value/@Occupancy
Options: Owner Occupied, Vacant, Leased: Single Tenancy, Leased: Multiple Tenancy.

Market Value //ValueComponent/MarketValueAsIfComplete[@Type="SinglePoint"] /@ValueCeiling
More info

Capitalisation Rate //vx:Job/vx:Report/vx:Value/@CapitalisationRate

Rental Income Rental income value is one of:
//vx:Job/vx:Report/vx:Value/@GrossAnnualRentalIncome, or //vx:Job/vx:Report/vx:Value/@NetAnnualRentalIncome
Imputed or actual:
//vx:Job/vx:Report/vx:Value/@AnnualRentalIncomeValueIsImputed = Yes|No

GST GST value applied to the property is:
//vx:Job/vx:Report/vx:Value/@GSTAppliedToProperty
GST amount is exclusive, inclusive, or n/a: //vx:Job/vx:Report/vx:Value/@GSTTypeAppliedToProperty = Exclusive|Inclusive|NotApplicable

Summary Tab

Report Field LIXI Mapping (XPath)
Property Type //vx:Job/vx:Property/@Type
More info

Site Area //PropertyCharacteristics/@SiteArea

Building Area //RealEstate/@FloorArea

Report Integrity Tab

Please refer to Valuation Risk Alerts (VRA) for the Report Integrity Tab.

Property Title Type (Title/@TenureType)

We will soon (~June 2011) be parsing Building Type from //RealEstate/Location/Title/@TenureType. This appears on the Summary tab.

Valid values are:

CommunityTitle
UnitTitle
StrataTitle
StratumTitle
CompanyTitle
CrownLand
CrownLease
Freehold
GroupTitlesPlan
Leasehold
MoietyTitle
PurpleTitle
Corporate
Green
OtherTitle

Building Type (vx:BuildingType)

We will soon (~June 2011) be parsing Building Type from the vx namespace. This appears on the Summary tab. We will be looking for //vx:Job/vx:Property/vx:Detail/vx:BuildingType. Valid values are:

Dwelling
Unit
Townhouse
Apartment
TerraceHouse
Maisonette
Duplex
RentalFlats
Villa
MultipleOccupancy

Current Use (vx:CurrentUse)

Current Use is parsed from the vx namespace. This appears on the Summary tab.

Valid values are for //vx:Job/vx:Property/vx:Detail/vx:CurrentUse are:

Residential
MultiResidential
CommercialResidential
NonResidential
Commercial
ServicedApartment
ResidentialVacantLand
StudentAccommodation
SeniorsLiving
Rural
RuralResidential
None - to clear this field.

Replacement Value (@InsuranceAssessment)

We parse Replacement Value from ValueComponent/@InsuranceAssessment. This field is required by a Critical Check (see Replacement Insurance Critical Check.)

The Replacement Value field is strictly a numeric value except for unit report types, where you may use non-numeric text to describe the strata insurance arrangement.

  1. If the report type is a normal dwelling or vacant land (any non-strata report type), then we require a numeric dollar value. A text value will not populate onto the report!
  2. Otherwise, if the report type is a strata unit, then we require a textual string explaining the insurance situation. A typical example is "Building insurance arranged by Strata Corporation." A dollar value is also acceptable if the unit is non-strata.
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