Does your appraisal business have a website?

[MrLA]

The fact that you are struggling with this topic AND supervising trainees is....concerning.

This is what USPAP actually says:
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"can perform the assignment competently". Which will be demonstrated in the workproduct by actually performing the assignment competently.

If I know I can drop into a new-to-me neighborhood and perform the assignment competently then I can meet this requirement.


So "don't go where you are not competent" isn't a USPAP issue in particular. However, the GSEs have an additional requirement for the pre-existing market familiarity in Cert#11 - which that's what you're thinking about. That pre-existing familiarity is a user-driven requirement, not a USPAP requirement per se.

Nor is "asking a REAL professional" the only manner in which an appraiser can develop that competency. Matter of fact, if you or me or any other appraiser is working in a new-to-me area and we don't end up being more familiar with the total amount of relevant data than 90% of the RE brokers who work that area then we're screwing up. We're supposed to know what we're talking about in our appraisals.

Read it carefully. If you can't identify the issue at hand, why would you need comps from an agent? If you have the knowledge, why would you need comps from an agent? The number one problem occurs when you go areas you are not familiar with. Wonder why some lenders want to know how many appraisals you performed in that neighborhood within the last year? That's my point. In my town, there is one area where some homes have shifted. Would an out of towner know this and wonder homes on a certain street sell for lower? Would an out of towner wonder why a house sold for less cause a large oak tree is over hanging a house or why a large lot can't be developed due to the trees? Are you familar with where the oil drllings are and how it impacts marketability? Are you familiar with where the school boundaries are? How about mello roos? Do you know which tracts have it and which don't? Are comps on the same street always the best comps? Two builders can build on the same street where I am from. Lol. See where I am, a hot looking agent will give an out of towner an appraisal package. They would straight blindside you with comps within a mile. Lol See I talk to these agents frequently. They tell me stories of how they got out of towners to bring in values and they laugh. Lol. That would lead to an incompetent report. My interpretation might be stricter than yours, but it makes sense. That's how out of towners get into trouble. Lack of knowledge leading into using disimlar sales, leading into an unsupported value. Just because you are an AG, doesn't give you the knowledge to do what ever you want. There is always something new to learn. Read a report you did last year. From 5 years and 10. Are your reports better now or the same?

 

[MrLA]

Good job, Mr. LA; you give the users what they want and need.

New construction. You must not get it. I farm local appraisals. Most of the time it's my old comps that I used. Two of the prior sales are typically in my past appraisals. Lol. This is what you call high efficiency.

 

[sputnam]

Be a frontier leader. I was one of the first appraisers on the Leica Distro 5. 2008. Haven't looked back since. I invested 50k into custom research software. Be extraordinary. I remember real photos on appraisals. Yes. Times have changed. Stay ahead of the curve. Absolutely efficiency is a must. My 25 year old trainee is way more tech savvy than I. We use discord and other tools as well. Just did an appraisal in 1.25 hours, from start to finish. Inspection to completion with driving time. Technology is a good thing. I embraced 1.5k digital cameras back then with floppy drives. 1k GPS modules.

You are so FOS. Technology doesn't make you... or anyone... a better appraiser. It might make you a more efficient appraiser.

 

[MrLA]

You are so FOS. Technology doesn't make you... or anyone... a better appraiser. It might make you a more efficient appraiser.

Efficiency is part of being a superior appraiser. You are average. Like the bell curve. 80% fall in the middle. I am the right side. You fall in the middle, hopefully. I take it as a compliment. My system tells me what is the last report I did in a specific area, what models were done, and what comps I previously used. No need to recreate the wheel once it is done. Do you get it? Pending sale from last report closes, comp 1 now. Add one pending sale. Done. Yes, I do that many where this happens over and over again. Ever heard of a competive edge? Just in time theory? Assembly line? Technology is definitely an excellent tool if you know exactly how to use it. It's called IT. I data mine my own database and cross reference. I incorporate these basic ideas in my business module. I swear a business degree should be required to be an appraiser. How many of you are actual college graduates? Did you just sign up for a free license when licensing came about? Lol

 

[MrLA]

Got 5 new ones. Doing 5 deals today. Two guys are on three right now. I'm doing 2 myself. Must be doing something right. Lol. Take my suggestions for what it's worth. If you want to be the same ol Joe, there is nothing wrong with that too. I love new construction! 20 year project. Lol.

 

[Alsie35]

George. Those comps wastes time. I do all my research prior inspection. Comps, prior sketches, etc. All that ends up happening is that it waste time and it messes with your own paperwork. I stay local George. Very local like super local. USPAP clearly states don't go if you don't know the area. See. I farm prior reports, comps, etc. Many times I just move the pending to closed sale 1. Add one pending and I'm done. There is no need to recreate the wheel. There is a way to make up to $500 an hour doing residential work with no headaches. Lol. Why I like this game and dropped commercial. Residential work is more cut and dry. Commercial work has soooo much subjectivity and simply too much bs. The MAI I worked for was a fraudster. Biggest bser ever.

THIS. It is the TRUTH. And the basis for becoming a "Superman" appraiser. But you have to have the right system and the right market area, plus the requisite "corporate memory" of several decades there.

I don't have that situation anymore since I moved to Ole San Antonio - but then I am not trying to work that hard anymore either. I DID have it in my primary county in CA. From 2018-2021 we hardly ever left the county. Used to tell my wife I "owned" the county because I had so many recent reports in each subdivision that I never needed more than 1 or 2 new comp photos (at most) per report. Many times none. I can't tell you how many model match sketches I had for each subdivision that I would print out before hand to shorten the process of inspection. Or how many times I literally just changed the names, property info, subject photos and sketch and kept everything else the same on a report - because I did a model match the street over 2 days prior.

I tell you the truth, there were probably realtors and lender clients of ours who were slitting their wrists after we moved to Texas 6 months ago.

Ah well. Our life "slow-down" came 5 years earlier than planned thanks to our system and the years of 7-days a week sunup to sundown work. As I told my son a year ago: I don't plan on working like this past 60. (I did for one month after my birthday, however).

There are some of you around here (you know who you are ), who are not in conforming market areas or working with an appraisal support system of trained individuals, who are probably shaking your heads right now.

But I am here to tell you that MrLA's success story has the unmistakable ring of TRUTH to it. (Us immigrants have to stick together, bro. BTW - did I mention to you that I have a Small Arms Marksmanship Ribbon on my military 'ribbon rack'? I was pretty handy with a Beretta .9 mil )

 

[sputnam]

Efficiency is part of being a superior appraiser. You are average. Like the bell curve. 80% fall in the middle. I am the right side. You fall in the middle, hopefully. I take it as a compliment. My system tells me what is the last report I did in a specific area, what models were done, and what comps I previously used. No need to recreate the wheel once it is done. Do you get it? Pending sale from last report closes, comp 1 now. Add one pending sale. Done. Yes, I do that many where this happens over and over again. Ever heard of a competive edge? Just in time theory? Assembly line? Technology is definitely an excellent tool if you know exactly how to use it. It's called IT. I data mine my own database and cross reference. I incorporate these basic ideas in my business module. I swear a business degree should be required to be an appraiser. How many of you are actual college graduates? Did you just sign up for a free license when licensing came about? Lol

You don't have a clue. I would love to have one of your appraisal reports land on my desk for a review. I'm betting I would find significant errors.

Efficiency is better for your appraisal business. It does not make you... or anyone... better at appraising.

 

[MrLA]

You don't have a clue. I would love to have one of your appraisal reports land on my desk for a review. I'm betting I would find significant errors.

Efficiency is better for your appraisal business. It does not make you... or anyone... better at appraising.

I would love to see one your appraisals. I would bet your put out bottom feeder quality. Lol. Just got my first deal of the day. Lol. How many did you do this week? 3? Lol

 

[Deleted member 122624]

Sure do have a website. Changed it from my company name to something that google would recognize as well as based on the search criteria of users. It was Whatsitworthappraisalservices .com. Company name is the same however domain name is Atlantapropertyappraiser.com I include relevant information as well as blogs and more on it. I use it conjunction with my GMB (Google my business) to get reviews and to keep putting out good information. Since changing my website to what it is today and getting a GMB account about 2 years ago, I average about 14-20 private jobs a month. I get anything from homeowners, agents, investors, lawyers and more ordering appraisals through my site as well as contacting me. I even had an architectural firm hire me to do 6 home floor plan sketches for them after they saw on my website the different sketches and floor plans we do. I know what would they need me for? They hired me to expedite their process for home renovations and additions so they could get a good idea of the size of the home, where windows and doors are, interior walls etc Fees ranged between $450-750 per sketch depending on the size and the info they wanted within it. No appraisal.

I also became the highest ranked appraiser on google in my area due to the search views, reviews and more I get through GMB and my website. Its not a fancy site however the way its designed and the keywords etc it has generates a lot of business for me , including the ability to order an appraisal straight from it using the Anow embedded link. (Anow doesn't get any more money other than my subscription for this feature)

 

[NJAPRAZE]

Read it carefully. If you can't identify the issue at hand, why would you need comps from an agent? If you have the knowledge, why would you need comps from an agent? The number one problem occurs when you go areas you are not familiar with. Wonder why some lenders want to know how many appraisals you performed in that neighborhood within the last year? That's my point. In my town, there is one area where some homes have shifted. Would an out of towner know this and wonder homes on a certain street sell for lower? Would an out of towner wonder why a house sold for less cause a large oak tree is over hanging a house or why a large lot can't be developed due to the trees? Are you familar with where the oil drllings are and how it impacts marketability? Are you familiar with where the school boundaries are? How about mello roos? Do you know which tracts have it and which don't? Are comps on the same street always the best comps? Two builders can build on the same street where I am from. Lol. See where I am, a hot looking agent will give an out of towner an appraisal package. They would straight blindside you with comps within a mile. Lol See I talk to these agents frequently. They tell me stories of how they got out of towners to bring in values and they laugh. Lol. That would lead to an incompetent report. My interpretation might be stricter than yours, but it makes sense. That's how out of towners get into trouble. Lack of knowledge leading into using disimlar sales, leading into an unsupported value. Just because you are an AG, doesn't give you the knowledge to do what ever you want. There is always something new to learn. Read a report you did last year. From 5 years and 10. Are your reports better now or the same?

You in NOLA?