Green Appraisal

[JWC73]

What is the standard single family green appraisal going for these days in Florida?

 

[nstanbru]

What is the standard single family green appraisal going for these days in Florida?

The lowest bid and TAT.

 

[JWC73]

The lowest bid and TAT.

It’s not a standard appraisal and a lot more research and work is involved. I took the classes for this last year, but this market niche is small and finally got my first order. Lender offered $350 and had no clue this was a green home, but a local realtor told me that she heard the green appraisals she sold...appraisers where getting $700-$1200 depending the size of the home. I don’t mind taking less than my competitor, but you typically get what you pay for and I’m very detailed in my work with 48hr TAT. I don’t want to accept a less money if the market in appraisers eyes are much higher. As appraisers we have to band together to keep our fees high and where they should be.

 

[Terrel L. Shields]

don’t want to accept a less money if the market in appraisers eyes are much higher. As appraisers we have to band together to keep our fees high and where they should be.

Just so long as we set our own fee...not colluding in violation of law.

So, I never had had a problem with setting a fee because I estimate the hours and multiple by a set rate. I suggest that you therefore are really asking, "how long is it going to take to do a 'green' appraisal?" And the answer is I don't know unless you can describe the scope of work for such compared to that of a conventional non-green home. So what did the class tell you and what did they suggest the SOW was? Do you have the equipment to do an assessment of the "green"?... FLIR, magnehelic differential pressure instrumentation, etc.? Or are you relying upon a report by others? Upon a design standard? Is the house certified by NGBS, Energy Star or measured by HERS?

Most importantly do you have comps and how long will it take to vet them?

 

[Pittsburgh Pete]

It’s not a standard appraisal and a lot more research and work is involved. I took the classes for this last year, but this market niche is small and finally got my first order. Lender offered $350 and had no clue this was a green home, but a local realtor told me that she heard the green appraisals she sold...appraisers where getting $700-$1200 depending the size of the home. I don’t mind taking less than my competitor, but you typically get what you pay for and I’m very detailed in my work with 48hr TAT. I don’t want to accept a less money if the market in appraisers eyes are much higher. As appraisers we have to band together to keep our fees high and where they should be.

As an appraiser, you have to "band" with yourself and determine what the appraisal is worth to you. Bid what you feel you deserve. If you get it, all's good. If you don't, so be it.

 

[Juframo]

As an appraiser, you have to "band" with yourself and determine what the appraisal is worth to you. Bid what you feel you deserve. If you get it, all's good. If you don't, so be it.

For appraisers like you is why our profession is underrated. We should stay together, help together and fight together. It is sad to see how AMC's take advantage of this weakness. It is sad to see how we fight against each other for assignments for as low as $175.00 when it should be a fair price. It is also sad to read stories of other appraisers who intentionally go to appraisers' state hearings to enjoy the miseries of other appraisers who probably have made honest mistakes for whatever reasons. Many of them are because of bad training. Hopefully you get the idea.

 

[bnmappraisal]

It’s not a standard appraisal and a lot more research and work is involved. I took the classes for this last year, but this market niche is small

FTR, I don't do nor am competent to do "green appraisals"
But I'm sure, as you point out, there is a market niche for these type of properties - even if it is small. The smaller, generally, means the higher $$$$ you can charge and is acceptable by the client/intended user(s). Don't sell yourself short

Lender offered $350 and had no clue this was a green home, but a local realtor told me that she heard the green appraisals she sold...appraisers where getting $700-$1200 depending the size of the home.

As I state above - don't sell yourself short! A niche can be very lucrative. Wouldn't you rather do 5 green appraisals for $1,000 vs 15 "regular" appraisals for $350 ????

I don’t mind taking less than my competitor, but you typically get what you pay for and I’m very detailed in my work with 48hr TAT. I don’t want to accept a less money if the market in appraisers eyes are much higher

(my bold) ... you stated that there is a "lot more research and work involved" for these green appraisals (I don't doubt it), but then (again, my bold) you state 48 hr TAT) ... That seems to contradict itself IMO.
Again, I don't do green appraisals, so maybe you can turn one around in 48 hrs after inspection - I'd like to think it takes longer

 

[timd354]

For appraisers like you is why our profession is underrated. We should stay together, help together and fight together. It is sad to see how AMC's take advantage of this weakness. It is sad to see how we fight against each other for assignments for as low as $175.00 when it should be a fair price

So what do you propose appraisers do, band together to set a minimum price? Well, that would constitute illegal price fixing under anti-trust laws. Sorry, but appraisers simply cannot "band together" to keep fees high. You need to come up with another idea.

 

[AMF13]

What is the standard single family green appraisal going for these days in Florida?

I have no idea the scope of work.
For all I know that means a hard copy on green paper.

 

[Restrain]

If you get that job, be sure you use sales of 'green' homes. There can be a wide differential between cost and what the market will pay. Good luck.