New Trainee - How many residental appraisals can you do in a week?

[Metamorphic]

Metamorphic, I'm going to guess you have one of the rare truly good mentors. Congratulations! I hope you make it and prosper for a long time as an appraiser.

Yeah, I think so too. He does work that's a couple steps above anything I've seen from other appraisers. Really, he's through to the point that it costs him a lot of money.

 

[George Hatch]

Back when I first started (1985) I usually averaged about 10 SFR appraisals a week. This was before computers, digital imaging, digital mapping, online MLS and a bunch of other technology that appraisers now take for granted.

We were doing our diagrams and all our calcuations all through the appraisal reports manually. We used a copier to build our addenda. We used 35mm film and glued the photos onto the photo pages. And even with all that extra manual work I was still a lot faster than I am today.

When I had been appraising for 2 years I was soooo fast.

Of course, I was also a menace to the appraisal profession at the time. I pumped out all that volume by taking a lot of shortcuts. Although I've never pushed values I'm sure I put out some pretty crappy appraisal work.

The one thing I've figured out is that the technology has made the dumb end of the appraisal assignments go a lot faster, but there's not much technology you can throw at an appraisal problem that will enable the mental aspect of it to go faster. It still takes a certain amount of time and effort to sift through all the data and develop a reasoned and supportable opinion of value. In some ways, the easier availability of more data actually makes for more work - my research and analyses went a lot faster when I had fewer options with my data. Greater availability creates greater responsibility. The techno geeks never seem to realize that.

That's why when appraisers brag about how fast they are I'm not impressed. I know that if someone doesn't care about what they're putting out they can pump out forms pretty quickly. Any idiot can do the form monkey routine. Most form monkeys like to think their work is just as good as anyone else's, even when it sucks. I know, because at one time I did all that. And regardless of the fact that I was trained to do it that way and everyone I knew did the same, I always knew on some level that I was doing wrong.

Hi, my name is George and I'm a form monkey. (audience: Hi George) I've been clean and sober now for 18+ years, but I still recognize that I'm no better than my last assignment. I just have to take it one day at a time.

 

[Rufus]

My mentor says that all properties should take no longer than 4 hours.

Yikes!

That would most likely mean that boilerplate comments are used almost exclusively, the comparable sales are not verified nor are they viewed from the street and MLS photos are used in the report.

If this is how you are being trained I suggest finding another supervisor.

 

[FuzzyFeet]

My mentor says that all properties should take no longer than 4 hours.

Must be nice. m2:m2:m2:

 

[Ken B]

With 15 years experience working the same market area, as a residential appraiser, my goal was to average 30 reports a month if I was doing all work associated with appraising and operating my business by myself. When I had an admin assistant, my goal was to average 40 appraisals a month.

 

[saemmons]

When the volume is there, I like to try to do 3 or 4 inspections in a day and then do the reports the next when possible. I know when you have a good flow coming in you can separate your inspection days by location. It all depends on the week/day/complexity. You will get a feel for it.

 

[jnordquist]

Anywhere from 10-15 is standard in my area.

TC

Truthfully I inspected 9 in one day once, but then I was in the office for 14 hours a day for the next 14 days writing them.

 

[Blueprint]

My mentor says that all properties should take no longer than 4 hours.

The begining:

woohoo

The middle:

:new_snipersmilie:

The end:

 

[TC]

That was a joke Mr. N.

 

[jnordquist]

That was a joke Mr. N.

I know, I average 3-5 in a 7 day week. Some reports take 3 full days to write others are done in 1 day.