Anyone else get this morning's email from Bradford with the You Tube video attached?

[nofx4us]

Apple Appraisals co-owner shows how he completes sf tract development appraisals in 45-60 minutes.
Wow. What am I doing wrong over here in NJ?
m2:

 

[JTip]

How about a link?

I've been with CF for many years and did not get it.

I would assume he uses the comp data base (I do sometimes, it's pretty nice) to save time.

 

[nofx4us]

Link to video (Sorry JTip)

http://www.bradfordsoftware.com/blackburn/

Hope the link works...don't post much on this site, but use it as an invaluable resource.

He does use a comp filler software...and also acts as an AMC, uses his secretary to start the report template right when the order comes in (I can't afford an assistant), "runs his comparables" before inspection and generates his 1004mc form, again prior to inspection, etc. Oh, and his inspections last 15 minutes (take note when he uses his laser measuring tool and points it at a bush/shrub).

All I've got going for me is I can type 60-70 wpm.

 

[JTip]

"runs his comparables" before inspection and generates his 1004mc form

I usually do that, depending on the subject's location, view the subject via the assessment photo, check MLS for prior sales/photos and that general overall geographical competence thing, so I know what to look at.

That happens on 25-30% of my assignments if I am lucky.

Reusing comps from the database....heck, I have 10 years of data in there and I am lucky to get a used comp one 1 out of 30 reports. I actually used one last night in I don't know how many months, could be the first one this year even.

Nice to live in a cookie cutter urban area I guess.

 

[JTip]

Watched the video.

A couple of MAJOR issues:

First, one would assume that ALL MLS services are ACCURATE when importing the data. Wrong. I use two MLS services. One is pretty good, the other is pitiful. Less than 10% have GLA and/or year built. Room counts can include basement rooms and/or 3rd floor rooms that are not heated. You can't assume that all MLS data is good across the country.

Second, seems like his clients/lenders are looking for an unfluffed report. Where is the aerial map, neighoborhood map, plat map and MLS search data list, etc, etc.

C: There is no mention of verification. Search past sales of the comps? That takes time bro.

#4: Missing a big time slot looking at the comps (required)/securing original pictures (if that is what the client requests).

Overall I can see some time savings but at a cost.

Thanks for the link.

 

[Fargo1]

I've been considering switching to Bradford, but between the way they handled the lawsuit with NCVForms and the way this video puts forth that appraisals can be done in 90 minutes really puts me off. No wonder some people are only able to charge $200 per appraisal. Their clients see videos and marketing like this and think it only takes a couple hours to do an appraisal. Heck it takes me an hour to look at the house, an hour to find comparables, and another hour to take pictures. On top of that I have to anyalyze everything. Sure I can probably get the form filled out in 90 minutes, but that is not doing an appraisal. On top of that, I didn't see anything in this video that Clickforms has that no one else has. In fact, most of the components they are bragging about are 3rd party components that can be used with any forms software.

 

[Michigan CG]

Apple Appraisals co-owner shows how he completes sf tract development appraisals in 45-60 minutes.........

He is not an appraiser he is a form filler.

The MLS has the correct information that he automatically downloads into the form?

I didn't see anything about verifying the sales with public records or with parties involved in the transaction.

Quick and fast does not make something good.

 

[Fargo1]

Did anyone else catch his comment about doing pre-qualifying appraisals? It sounds to me like he is still doing comp checks too. This guy is part of the problem, not part of the solution. It really bothers me that Clickforms thinks this is what appraising is.

 

[MBiggers]

LOL Bradford partnering with an AMC / staff shop and telling appraisers how easy their job is. You should start accepting lower fees too.

 

[Eli]

LOL Bradford partnering with an AMC / staff shop and telling appraisers how easy their job is. You should start accepting lower fees too.

15-20 minutes total inspection time on "average" home. A lot of assumptions there I guess. Like if "average" is the right word then I guess some inspections only take 5-10 minutes. Wow, maybe with all below average size homes in good condition.

All I can say is many markets are different. I can see why FNMA turned against using the term "average" in some cases. Because "average home" is not the same everywhere.

To dictate sales comparison approach comments takes 5 minutes average. ??? Idk...Does that include comparative analysis as well regarding all elements of comparison?..."average"?.......CU ??

Ok...all markets are different. No wonder everybody and their brother is an appraiser in CA. I hope CU allows for that. LOL

BTW, if one is an AMC and an appraiser, does that mean they don't stip their self?