How Do You Complete 2 Or More Appraisals Per Day?

[Eli]

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

It is a mind game. I don't know. It feeds some people's ego. If one works for an AMC, it feeds their business model. Regulators are becoming more and more sophisticated. Some of the things that would fly 15 years ago, are not going to fly anymore. We are seeing that daily. All of this slows production down. Pulling stuff out of thin air is very dangerous business these days.

 

[Eli]

Better make sure your secretary is not pulling stuff out of thin air. LOL

 

[Eli]

Unsupported adjustments and analysis is becoming more and more risky for appraisers. Seriously.

Not choosing the best comparables is going to be more and more of a problem for some, on top of not performing credible analysis.

With the technology that FNMA has, this stuff is gonna get much more serious.

 

[Eli]

If you do work for the VA, it has been serious for a long time. They send certified appraisers into the field to follow up on your analysis. They drive your comps and review your report closely.

Every report for the VA has to have maps that a reviewer can clearly see how to drive the subject and comps. They must have multiple location maps that show the streets and names of streets where the reviewer can easily drive the subject and comps by looking at the maps in the report.

 

[ucbruin]

If you do work for the VA, it has been serious for a long time. They send certified appraisers into the field to follow up on your analysis. They drive your comps and review your report closely.

Every report for the VA has to have maps that a reviewer can clearly see how to drive the subject and comps. They must have multiple location maps that show the streets and names of streets where the reviewer can easily drive the subject and comps by looking at the maps in the report.

Really?

A certified appraiser that can't use a map isn't much of an appraiser.

Is this a guideline prior to MAPS and GPS?

 

[Eli]

Really?

A certified appraiser that can't use a map isn't much of an appraiser.

Is this a guideline prior to MAPS and GPS?

I don't know if they use GPS now or not. But I know they want the maps. There are usually 3 or 4 or 5 maps in a report to make sure each street name of the subject and comps is easily seen. 1st map showing market area, then start zooming in until each street and location can be identified for subject and comps. I think they might think it is easier to drive them that way. They are serious dude.

 

[bnmappraisal]

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.

I'm 34 and 9 yrs deep. I don't mind the late nights and early mornings, but I do mind not seeing the kids. Even though I work from home, it's not the same; I'm still working while they're playing. At least I get to see them though.

I will say my old supervisor (he was in his upper 50's at the time) was very fast paced. He always had to be doing something! I understand that, but also like to "enjoy" things a little. I think I have a happy medium. 5-8/wk is a happy medium. Decent $$$ but also decent time to enjoy life. To each their own though, right?! (not a knock at you at all Sean, btw - just my thoughts on the subject)

 

[Digger88]

I don't know if they use GPS now or not. But I know they want the maps. There are usually 3 or 4 or 5 maps in a report to make sure each street name of the subject and comps is easily seen. 1st map showing market area, then start zooming in until each street and location can be identified for subject and comps. I think they might think it is easier to drive them that way. They are serious dude.

must be your VA rlc. all my VA reports get 1 map. and as far as 2 reports a day i actually do exactly that at a minimum is my goal. first, you need a great MLS. second, you need to live in the highest turnover area of the country where the majority of the time all 3 comps come from the same subdivision. all recent and everything is bracketed, third, you need generic colonials as far as the eye can see and last you dont want to take yourself too seriously. think im up to 72 canned comments in my addendum, takes maybe 5 minutes to write it. VERY BASIC sketches, clients that accept 3 comps, maybe 4. never 6 comps unless they are the bottom client. and just keep churning the bottom of your client roster. i let go of vmg who wanted 6 comps and picked up swbc who only wants 4 comps. and like sean said you have to be willing to bust azz. i love working every day. like months and months at a time with zero days off.

 

[Eli]

For example, some appraisers are just picking a high sale and a low sale witin 1 mile or 2, and asking what do you need with little regard for differences in subdivisions locations, etc, etc. Those are the people that the states have been and will continue to either revoke their licenses or sanction them seriously. The revocations have been occuring frequently since the collapse, and it will keep happening and with UAD/CU, the state is not the only one that is sanctioning. Homeowners as they get sharper with the internet are going to be filing more complaints too. Get ready.

It may be real fast to pick a high sale and a low sale and a number in between, but that is not the way appraisal practice is supposed to be done. Although your AMC or client may love you, FNMA, or your state board will burn that butt. A homeowner too in some cases.

 

[Joe Flacco]

I think it's certainly possible to do two easy appraisals in a long day. I think it would be very difficult to keep up that pace every week month after month.