Appraisal Software

[ken gentle]

Pamela, great point. My plan is to do sample appraisals and have them reviewed, then use the samples when I go to see potential clients as examples of my work. Secondly, as I indicated my work will be reviewed, so hopefully I can get up to speed and get some "real" appraisals under my belt. Not sure how they do it in Florida...but I just went through a very extensive 90 hour course in which we actually worked on some appraisals.

Thanks for your advice...

 

[BenLuby]

Ken,
I read your other post on Gary's comments, and remember something very important. The instructors at the schools will tell you you don't need a mentor... until about the third day.
You stated that your instructor was going to review your work. That is fine, but are they going to sign off on it?
There is a big difference between the two. You may have your registration number, so do I. Currently at 1800+ hours and counting, but I'll let you in on something:
Even though I am quite comfortable at this point with the typical appraisals, no bank will even talk to me as an appraiser. I am just registered.
And, realistically, I am not going to take the test for about another six months, either. I may be able to legally take it in two more, but this is one job where you need a lot of experience.
Just wait until you go out and assist in appraising a $500,000 dollar home, then go get to do the $50,000 MANUFACTURED HOME (See Jo Ann? I got it that time. Now can I come out of the corner?)
It can be disorienting to try and stay focused and unbiased, especially when you do such different properties.
Just because you finished the ninety hour class does not mean you are ready to become a fully independent appraiser.
Experience is what is needed. You don't finish college in a month and begin designing software. You learn how to do it first, and gain a true feel for the market, and in this line of work, no two properties are ever identical.
I am not trying to discourage you. Just trying to tell you that, here in Georgia, you may not need a mentor, but no lending institution is going to take your work, and if one does, odds are they are a predatory lender, and then you will get the reputation to go along with that.
If you take your time and do it right, you will succeed. And one more thing for you and Gary to consider: Do not call to see if someone is hiring. Flat out, most of the appraisers I know get warped over that, and it is an immediate no. If someone doesn't have the motivation to drive out and meet them, then that person, in their mind, doesn't have the motivation to be an assistant.
Good luck.

 

[Jo Ann Meyer Stratton]

Ben:

Jo Ann

 

[Terrel L. Shields]

go with Poloroid. But wondering if there is less costly verision? The quote I have is $800+???

Again, if you are not tied to someone, Bradfords Appraiser Toolbox does work extremely well and is simple. It was 2 years ahead of everyone else on digital photos and still has the simplest system for that I know. The price is generally less than the other packages.

 

[Mike Garrett RAA]

Almost without exception those who buy the cheapest programs find they make a mistake. Buy the best and most comprehensive program possible as you will eventually want all of the features.

At a minimum find one that has digital photography, mapping, and edi. Some programs are also upgradable within 30 to 60 days without paying a penalty. I personally prefer Wintotal 2000 by Alamode.

 

[Ken-NC]

Hey Mike, does WinTotal have a neighborhood database yet?

:wink:

 

[Pamela Crowley (Florida)]

Ken, in my area I don't think any appraisers agreed to contribute to their data base. I would if I knew who else was contributing and knew I could trust their information. Way toooo many here I wouldn't trust even if they did have a muzzle on.

 

[Mike Garrett RAA]

Not sure I understand your question, Ken. Yes the program has several different data bases including a neighborhood one. You can build the data base as you do reports. Once you have entered a neighborhood you can then recall everything you entered with one keystroke. Makes it faster to do reports plus it keeps you consistent in your reporting.

Of more importance is the comp data base. It will retain every comp you enter including the picture. When you begin a report and enter the basic data on the subject, the data base will tell you how many comps are available that meets what ever criteria you set it for. It will even place them in order on the report for you.

Another feature I really like is allowing the program to "weight" your comparables and, if necessary, switch them with the best first. Check out the form review also. Catches many little mistakes you might miss...prints out a really nice review of your report too.

There are so many things in the program I can even remember half of them but I do know if you will learn to use it properly can speed up your time building the report considerably. One key thing.....use two printers, one for forms (laser) and one for photo pages (ink jet). This will save hours and hours of time printing out your reports as both will print at the same time. It's merely a matter of adding a second printer port (costs about $30).

Buy the biggest, fastest, meanest machine you can afford. One should buy the computer to fit the software rather than the other way around. Right now you can get a machine with an 80 gig hard drive, 16x CD read and write, 512 megs of ram, and an operating speed of 1.3 mhz for under $500. Add to that a LCD 17" flat screen monitor and two printers and a digital camera. I have bought 3 used HP Series III laser printers (reconditioned) for under $200 and they are work horses. Total investment of less than $2,500 for everything including the software. Expect it to last from 3 to 5 years and you can expense it out completely in the first year for tax purposes.

One final thought, use cable for your internet connection if available in your market. It flies! Time is money in this business.