The 99 Fields of BRAVE: Complete Field Guide

How BRAVE Organizes Appraisal Data

The BRAVE standard — created by Valcre as an open industry standard — structures its 99 fields into 6 official categories, each covering a distinct aspect of a commercial real estate appraisal. Below is a category-by-category breakdown of what BRAVE captures, why each section matters, and practical notes for filling in the data.

For a complete field-by-field reference with exact field names and data types, see our BRAVE 99-Field Reference.

1. Job (3 fields)

The Job category identifies the appraisal engagement: Job.ClientRef (the client reference number), Job.ReportDate (when the report was issued), and Job.CurrencyType (currency for all monetary values, typically USD).

These fields link the BRAVE data file to the corresponding PDF report and establish the context for all monetary values in the file.

2. Property (52 fields)

The largest category by far, Property covers nearly every physical and transactional attribute of the subject. It includes:

• Address and identification — property name, full street address, city, state, postal code, county, country, latitude, longitude, legal description, and development status (Property.Name through Property.DevelopmentStatus)
• Tenancy and classification — number of tenants, property type (office, retail, industrial, multifamily, hospitality, self-storage, special purpose), subtype, and owner
• Sales history — recent sale date and price, whether the property sold in the last three years, current list price, and current sale price
• Tax assessment — eight fields using three-level dot notation (Property.Tax.Year, Property.Tax.LandValue, Property.Tax.ImprovedValue, Property.Tax.Exemptions, Property.Tax.AssessedValueTotal, Property.Tax.MarketValueTotal, Property.Tax.RateAmount, Property.Tax.TotalTaxes)
• Land — parcel count, parcel numbers, land area in SF and acres, usable land area in SF and acres
• Site characteristics — zoning, topography, flood zone
• Building characteristics — gross building area, net rentable area, units count, buildings count, floors, elevator, building class, construction class, quality, condition, parking type, parking spaces, year built, year renovated, and remaining economic life

Property type and class are critical for automated portfolio analysis. Banks use these fields to segment exposure by asset class and quality tier.

3. Income (16 fields)

Sixteen fields form the core of the income approach: Income.RentalIncome, Income.OtherIncome, Income.PotentialGrossIncome (PGI), Income.VacancyLoss, Income.EffectiveGrossIncome (EGI), Income.GroundLease, Income.OperatingExpenses, Income.Reserves, Income.ReservesIncluded, Income.GroundLeaseIncluded, Income.NetOperatingIncome (NOI), Income.OccupancyRate, Income.VacancyRate, Income.RentGrowthRate, Income.ExpenseGrowthRate, and Income.RETaxGrowthRate.

These are the numbers banks care about most. Accuracy here is non-negotiable — any discrepancy between the BRAVE file and the PDF report will trigger a manual review. See our guide on how to create a BRAVE file for validation tips.

4. Value (24 fields)

Twenty-four fields capture the valuation conclusions across all three approaches plus reconciled values. The Value section supports two value columns: As-Is Market Value and Prospective Upon Completion.

Key fields include Value.CostApproach, Value.SalesApproach, Value.IncomeApproach, Value.ReconciledFinal, Value.CapRate (cap rate), Value.CapitalizationValue, Value.CashFlowValue, Value.DiscountRate, Value.TerminalCapRate, and Value.InsurableCost. The section also includes cost approach components (direct costs, indirect costs, profit, site improvements, depreciation) and land value fields.

Four Value fields are designated as manual entry and are not auto-calculated: Value.ExcessLand, Value.BEV (business enterprise value), Value.BulkMarketValue, and Value.AggregateRetailSum.

Multiple value conclusions allow banks to select the appropriate figure for their underwriting scenario. Construction loans need prospective values; acquisition loans focus on as-is value.

5. Appraiser (4 fields)

Four fields capture appraiser credentials: Appraiser.Name, Appraiser.LicenseState, Appraiser.LicenseNum, and Appraiser.LicenseExpiration. The Appraiser section supports two columns (Appraiser 1 and Appraiser 2) for co-signed reports.

These fields enable banks to validate appraiser credentials automatically and confirm that the appraiser holds a current license in the appropriate state.

Practical Tips for Completing BRAVE Files

Not every field applies to every property. A parking garage will not have tenancy data. A vacant land appraisal will not have income fields. Leave inapplicable fields blank — do not enter zeros unless the actual value is zero.

For the fastest path to a complete, validated BRAVE file, consider using AppraisalAPI to extract all 99 fields directly from your PDF report. The system maps your appraisal data to the BRAVE schema automatically and flags any fields that could not be confidently extracted for manual review.

For more context on why this standard exists and who requires it, read What Is BRAVE?. For the exact field names and data types, see our BRAVE 99-Field Reference. For field-specific deep dives, see our guides on income and NOI fields, cap rate fields, and valuation fields.