How Do You Complete 2 Or More Appraisals Per Day?

[Doug in NC]

I've seen countless comments on this site by people who say they average 2+ appraisal assignments completed per day. Maybe I don't use all the tech/efficiency tactics that I should be using, but considering the current level of due diligence required on each 1004 appraisal report, I can't imagine completing even the easiest assignment in less than 5 hours. Now, I know staff appraisal firms require appraisers to typically complete at least 2-3 assignments (can be work other than full appraisals) per day as a minimum standard of performance. How do they do it? If you're a staff appraiser or otherwise, how do you do it?

 

[Doug in NC]

I will admit that I completed over 2 full appraisals a day during one of the refinance booms of 10+ years ago. Back then though, I worked at least 60 hours a week to do it, and appraisal requirements were far less stringent and voluminous than they are now.

 

[Mike Kennedy]

Possibilities:

specialize in condos, co-ops
specialize in a specific urban, suburban or semi-rural homogenous market
use tons of boilerplate
use and re-use photo library
become expert at "blowing smoke up other gullible people's AXXes

 

[Doug in NC]

I know it can be done, I just wonder how it can be done consistently, week in and week out.

 

[ockyappraiser]

The answer to the question is not primarily methods, but locations. My day starts by processing at 8 AM. I typically process until 2 PM. I schedule inspections in the afternoon. I typically spend 45 minutes to 1 hour at a house, and due to my service area, can schedule two in the same general area allowing me to do the inspections that afternoon. I use a tablet, GPS and disto. I drive the comps via a map the software generates that has me driving closest to farthest. On site, I do the sketch, photos, and all boxes in Total mobile. When I get back to the office, upload the report to the desktop. That evening, I do the "set up" for any inspections the following day as well as pulling possible comps.

Here is where I save time: I do not take an assignement that I can not determine the subject characteristics through on line legal records or MLS. That way I can pull comps before I go. I do not take rural assignements. I do not take any assignements in any county that does not have on line resources to pull tax records and deeds. I don't to homes over one million. I turn down highly complex assignements. And as of a few weeks ago, I no longer do FHA work. Also, I have dropped from 7 counties to 3.

Given those parameters, yes, it is possible to do two reports a day.

 

[Elliott]

How do I do two-a-days? Work 9-10 hour days, work on weekends, feel exhausted at the end of the day, don't enjoy beautiful Fall weather, don't play with my new drill press, don't ride my Honda scooter, watch MNF football while working, etc.... Its getting old real quick. If I don't do two a days I'll get buried in work. Ironic huh?

 

[ockyappraiser]

Also don't do condos unless the condo survey is provided me with the order.

I should say, however, that I have intentionally pushed up my fees in the last year and although there are days I do 2 in one day, I am dropping back to one a day as much as possible. I should also say that I often work weekends. I processed 3 reports this last weekend to get caught up.

My goal is that when the house is paid off in 2016 I will drop back to 4-5 per week and go bike riding, hunting, canoeing or fishing. . .with or without grandkids. . .the rest of the time.

One other idea. . .I have cut WAY back on monitoring this forum and others.

 

[Doug in NC]

I know that at a minimum, I am going to have to switch to filling out the paperwork on computer in the field, and the sketch as well. That alone should save me about an hour per assignment. I know there is a way to download comps directly into the appraisal form too, I'll have to look into that as well (easily another 10 minutes time saved per assignment, if it works properly). Doing 2 inspections simultaneously, on the same day should also cut out some travel time. I'm considering hiring data entry help, but I'm not sure if that is going to be practical (if I can make the downloading from MLS work, I shouldn't need much data entry help).

 

[ockyappraiser]

The biggest time savers: I use "Dragon Speaking Naturally". . . .I dictate the reports. FAR faster the typing or a data entry person. More accurate too. I use Total for Mobile in the field. All subject improvement boxes are filled in when I return. I take photos with the Total program of the subject and comps and they are all ready in their pages and labeled when I upload. I do the sketch on Total which is uploaded when I return.

One other thing. . .ALL realtor contacts are by email. . .setting up appointments or confirming sales. I don't waste time on the phone, and this way I also have written record of conversations.

Did I mention stay off computer forums?

 

[Eli]

It is not possible consistently in some markets. Ask a rural property appraiser or any appraiser operating in a very heterogeneous market and there is no way.

Now, there may be a way, but I read everyday about licenses being revoked on the ASC website and they are all over the country. Check it out.

And if you get sued personally, having your license revoked may be the least of your worries.