Appraiser Genie Is Awesome!

[spittman]

... They also automatically pull Public Records for the data as well as using buildingcost.net which applies a local multiplier...

How does it do that? There are thousands of counties in the US. Most resources I use require a login or paid subscription. Does Genie have access to all of them?

 

[Michigan CG]

Now that is a ringing endorsement.

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[J Grant]

I haven't tried it yet, I assume you give Genie your password/access to local MLS if you belong to it?'

 

[Jerred Batten]

How does it do that? There are thousands of counties in the US. Most resources I use require a login or paid subscription. Does Genie have access to all of them?

Yeah buildingcost.net is a free source that uses the zip code of the subject and allocates material costs, etc.

 

[Jerred Batten]

YOU are moving "it " to computer based if you put in computer based adjustments right into your report without developing your own. Be careful what you wish for....once a larger number appraisers do that, clients will soon figure out they don't need appraisers if all an appraiser is doing is feeding comp addresses to a software program that then takes over and auto populates the report (including comments in many cases) .

Software form filling to input data is one thing. But using adjustments, weigthing of comps etc to arrive at value direct from a regression or statistical program is another thing , its basically turning over the appraisal to a software program (which is not the same thing as using a calculator)
I see you are a trainee license and also an enthusiast for this program, I imagine if one relies on auto population it allows one to turn out a high volume. Maybe that indeed is where the field is going..but if it does, then populated form software where software makes the adjustments, may also pick comps, weights the comps in reconciliation etc are not really an appraisal. It is an AVM populated into a URAR form with a signature.

Valid points. You don't even have to use the adjustments they provide but if you do, they give you the derived breakdown. Essentially, you can use it to simply fill out the 1004, cost approach, comments, etc. I appreciate your dialog.

 

[J Grant]

I can envision it used by Forsythe and similar appraisal mills...auto filled reports by trainees with no input other than a signature after typing the addresses in, ideal for trainees send them out run around pump out volume..
intensive purposes an AVM populated on a URAR form. But if clients want to pay cheap fees, use trainees and have instant turn times, that's what they'll get., and maybe this really is the future of "appraising". Caveat being;.

Did it occur to you that a software analyst in a cubicle , or overseas can use the genie software too? And do it for $5 a report? Using genie to autofill comments, adjsutmetns, basically do the report may seem like a clever way to pump out volume not, but it's digging your own grave. Because, why would a client pay more for an appraiser to click on the auto software button, vs a non appraiser clicking on it? The results will be the same. .

Fannie and clients have records of all appraisals now. Don't you think they'll notice identical and generic content and comments coming in from appraisals from all over the nation? REports generated by software would read the same, have the same comments dumped in.. A pattern of those and clients can then make the case that that since appraisers are essentially using auto fill software, which arrives at value AVM algorithm method of adjusting, they are not really appraising, thus they don't need appraisers to press Click on a software programs. If that happens, then appraiser role, if they have a role will be to possibly inspect, or "reconcile" the results of Auto software results for $50 a report. )

Future projection of where this might possibly go stated.......back to the present;
I will try genie at some point ( too busy now to try it, I can see using it to auto populate data and if it develops adjustments, I would use it as a way to support or vet my adjustments. If "thier" adjustments are ridiculous, I'd skip that feature and just use it to auto populate data.

 

[Tim Hicks (Texas)]

Fill out a report in mere minutes...? Heck, why hire us, just have Appraiser Genie do their appraisals! Haven't seen it, don't care to see it. I suppose the 1004 MC includes pending sales in the active listings as Fannie Mae expects?

 

[Tim Hicks (Texas)]

Color me skeptical, but do you disclose the Appraiser Genie helped you with your report?

 

[J Grant]

Or that appraiser Genie or similar not just helped, but did the report?
These days with computer assist and auto populating software ( and software that puts in contents and adjustments), the disclosures are way behind the time. URAR and USPAP are about assistants, did trainees help, disclose how much an assistant contributed etc. What if a computer did basically the entire report and you just signed, maybe picked out the comps? They really need to start demanding complete disclosure on it, otherwise nobody knows how much of a report was auto populated by computer calculations, all the way up to and including reconciling value.

If it became accepted practice as disclosed, I'd love to press CLICK, have my report done, and sign it, lol.

 

[Tim Hicks (Texas)]

Again color me skeptical, but I seem to get the only sale with an enclosed patio or pool or workshop or the smallest or largest house in the neighborhood with the largest or smallest lot every time! Or the only one with a remodeled kitchen and bath. You get the idea. Every appraisal has a problem and computer assist is made for cookie cutters.