How Do You Complete 2 Or More Appraisals Per Day?

[Terrel L. Shields]

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.

You are correct. Filling a form is 45 minutes to an hour. It's that thinking stuff that screws you on time.

Ask a rural property appraiser or any appraiser operating in a very heterogeneous market and there is no way.

I've had 8 hours DRIVING time to some projects. Even the county over in OK - They are one of 3 MLS systems and identifying comps by public record first is a must. Then I go to Realtor.com to see if I can trace recent sales to the agency. That can take 2 days with the inspection alone.

I dictate the reports. FAR faster the typing or a data entry person

Only if it screens the cuss words and you don't stutter... - seriously for forms that is the fastest method, but in a narrative unless you have a script, you will edit a lot...trust me. Been der tried that. "The site.....cough....is 40 acres, rectangular ...no square..and consists of...dammit. The site is 40 acres square consisting of pasture with a pond and is securely fenced."

 

[Eli]

Real estate is so unique and appraisers have niches that they are in, so turn times are so different across the board.

Now, do AMC's want to say everybody should be able to complete an appraisal in less time?

Absolutely, because of money. It is not real.

 

[Eli]

Many have listened to those AMC lies and been sanctioned or worse. Many more will be.

 

[Doug in NC]

If there is an area of the country that is more conducive to 2 per day that Doug's area I'd be highly surprised. That said, he has so much competition that getting 2 non complex per day is tough. I have 2 friends in that area that do 40-60 per month. 1 guy is a lone wolf and works 4am to 11pm every day and catches up on the weekends. A 40 month is a disappointment to him. He wouldn't want most of his reports to be reviewed by someone not so interested in volume but so much of what he does are in subdivisions with all the comps in the same development etc so pretty much no brainers . The other guy does 40+ per month, but has his wife typing up the reports while he does the field work. He chooses comps and does the inspections then gives her the file to type the guts and then he reviews. She was a school teacher, so she knows how to grade a report and by now knows what questions need to be asked and answered etc. They too work from 5am-10pm

I've never had the desire to do high volume or work 60+ hours a week, I don't love appraising that much. I guess I prefer to have a little bit of a life beyond my job. If I could get 4-5 full fee appraisals per week consistently, I could be very happy with that. The other idea that sickens me about the possibility of taking a staff job is that undoubtedly, some of the work is going to be done for AMCs. I have only done work for one AMC in my lifetime that I'd actually consider to be good to work for. I hate what they have done to the appraisal industry.

 

[Terrel L. Shields]

...is there no way that appraisers can be better at the way the inspect and process appraisals?

I don't use forms. The reason is simple. WP costs $50 or so and I need a new copy when I get a new computer. Well...you know what software costs. Think commercial "form" software. I've used it. In fact, the manual for one such just went into my trash this morning as a cleaned out a shelf. With merge forms, templates and macros, I can create the shortcuts that are handiest for me in WP. In the end, I found that I could complete a narrative report about 25-30 pages for a house as quickly as I could complete a form appraisal of about the same scope - which is usually about the same number of pages, but perhaps with more white space.

So the "inspection" - all 45 minutes or so - is shortened how much? 10 minutes? I doubt it. First, I've had 2 tablets and a smart phone and you can buy all the glare reducing film in Office Depot and on a bright day, I cannot see the screen, so bad inputs become a real problem. Same with laser. I have 2 of them. And a wheel. And a tape. I will make more errors with the laser than the tape any day. And usually that relates to the bright light of mid day.

I have a friend that is a leather smith. He hand crafts saddles and gets $5000 or so for the best ones. He does hundreds of knife sheaths for local knife makers. Knife makers who charge $800 for a folder or $1,100 for a custom blade. (http://www.knifecenter.com/brand/473/tom-krein--knives and http://www.dozierknives.com/ are a couple) Butch gets a premium. He could put out a lot more knife cases with a "clicker" - a pre set pattern that cuts the leather. But his are built to custom fit the individual blade. The clicker simply isn't economic or, it makes a case that is slightly less than the high quality that his clients demand...and are willing to pay for (unlike our clients.)

In the end, I think the individual appraiser can decide for themselves. My forms are built in the same order as my templates, so yes, I can take my clipboard, fill as I go, and go back to the office and in no time flat have that information filled out. The hard part and the time consumer is analysis, not keypunch plus the time identifying and researching comps and actually vetting them.

 

[Mike Kennedy]

What gets me is the categorical denial by many on these board that anyone doing fewer appraisals then they do are dishing out inferior reports. That is in esssence saying "my way is the MOST efficient way of doing appraisal reports". Appraisers seen to be the most resistant to any ideas on actually improving what they do as a business.

I can see the appraiser t shirts now. . . .photo of an appraiser with his clip board held high. . with the caption. . ."from my cold dead hands"!

My opinion is based on years reviewing the "two-fers" for their dissatisfied Clients.

 

[ucbruin]

You know why? It is because some appraisers are lying for personal interests and others are being honest but work in totally different markets.

Yes, some are lying.

SOME ARE NOT TELLING THE TRUTH.

1. Who's lying?
2. What is the lie?
3. Why lie?

 

[nachocheesefries]

Don't believe all the nay sayers. PART of the secret is to have a secretary you pay well that runs as hard as you, work 55-65 hours per week..every week, have a young sharp mind and a neglected family And yes, I drive all my comps.

I had a someone ride along with me a few months ago who had just taken appraisal courses and just wanted to do a ride along...he could not believe the pace I operate at and the organizational setup I have Most fair minded people could NEVER keep up. He said he would never work as hard as me.

Its just a choice one makes. There is no big secret...you have to work your tail off, consistently and be in good health.

 

[Elliott]

Sean said, ....have a young sharp mind....

At what age will you be obsolete?

 

[nachocheesefries]

Sean said, ....have a young sharp mind....

At what age will you be obsolete?

LOL...I feel it coming on already and I am 35. Almost 15 yeas of appraising and my brain is tired. I have worked with older people who just cannot operate at the same level as me...it is what it is.