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Sales Comparison Approach

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BRUNO

Thread Starter
Freshman Member
Joined
Dec 17, 2007
Professional Status
Appraiser Trainee
State
Wisconsin
Hi,

I am a new trainee, I have no Mentor at this time and I am trying to do appraisels on my own to get the Hours and experience and in the mean time I am trying to hook up with someone that I can learn from> I do not know how long this will take I am in Wisconsin and I think I only have two years to do it?? So, I do not want to waste time. Anyway, I do have a Software program called Homeputer and have been doing some appraisels on them...however, I am stuck with a few things were can I find the Assessors parcel number and were can I find the Neighborhood name. What I do to start is go on MLS and get the most info. I can about a property Than try and fill in the best I can on the URAR form. When it comes to the Sales Comps. How do you make the right adjustments (dollar) for different assets of the comp to the subject. What I am Asking is if one has a full Bath and the other a Half How do I determine that value Do I use Matched Pair Analysis, That is very difficult to find! to really isolate that certain asset...Does anyone have some advice for me?
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
Hi,

I am a new trainee, I have no Mentor at this time and I am trying to do appraisels on my own to get the Hours and experience and in the mean time I am trying to hook up with someone that I can learn from> I do not know how long this will take I am in Wisconsin and I think I only have two years to do it?? So, I do not want to waste time. Anyway, I do have a Software program called Homeputer and have been doing some appraisels on them...however, I am stuck with a few things were can I find the Assessors parcel number and were can I find the Neighborhood name. What I do to start is go on MLS and get the most info. I can about a property Than try and fill in the best I can on the URAR form. When it comes to the Sales Comps. How do you make the right adjustments (dollar) for different assets of the comp to the subject. What I am Asking is if one has a full Bath and the other a Half How do I determine that value Do I use Matched Pair Analysis, That is very difficult to find! to really isolate that certain asset...Does anyone have some advice for me?

Bruno, better check with your state agency regarding you conducting appraisals without a co-signing Supervisor Appraiser. If you were in Illinois (where I am located), it would be strictly against licensing law for you to conduct an appraisal without a Certified co-signing appraiser.

The questions you ask are way to complex for you to learn anything in this forum...you need to be working with an experienced and ethical Certified appraiser.

Good luck.
 

Chris Colston

Elite Member
Joined
Jul 24, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I would strongly suggest you read ALL of Ray Miller's posts. He's in Wisconsin.

There are other Wisconsin appraisers here, too. I'm sure they will be around to tell whether or not what you are doing is legal in Wisconsin.

There are also members of the Wisconsin Appraisal Board that read this forum so be careful how much you reveal about doing appraisals without a signing supervisor.
 

BRUNO

Thread Starter
Freshman Member
Joined
Dec 17, 2007
Professional Status
Appraiser Trainee
State
Wisconsin
I am not doing appraisels that are for any company, bank, Or Lending Institute, I am not telling anyone I am a Licensed Appraiser! all I am doing is homes of people I know that are not for sale, I was told by the State that I could do that to get experience hours.
 

David Wimpelberg

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
I would double-check that information. It doesn't make sense that one can get credit without any supervision whatsoever.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
I am not doing appraisels that are for any company, bank, Or Lending Institute, I am not telling anyone I am a Licensed Appraiser! all I am doing is homes of people I know that are not for sale, I was told by the State that I could do that to get experience hours.

I agree with David's post: I'm sure the properties you mention qualify as experience; but I also think an active supervisor is necessary for qualifying experience as well.

I wish you the best of luck and my sincere advice is to try to find a mentor in your area. If you are willing to learn on your own with (what I assume) no payment for the appraisal, you might be able to find a competent supervisor who will train you (but not pay you).
 
Last edited:

NC Old Guy

Junior Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
North Carolina
Wasn't that information covered in the classes you took? If not, perhaps the states need to start taking a look at the basic classes that people are taking. I would think that would be part of the first 40 hours, and the second 40 hours, etc., etc. Or perhaps, as on another thread, it is a product of taking correspondence classes? Who ever allowed those for the basic classes??? Bad enough for CE.

Other than that, as others have said, check with your State. If one can really get their experience hours without a supervisor just because it isn't for financial purposes, the profession is in real trouble.
 

Urbanz

Junior Member
Joined
Apr 18, 2006
Professional Status
Certified Residential Appraiser
State
Texas
I'd say you had provided rejection letters to the state from potential sponsors then, and received a provisional license.

My first bit of advice would be to spell "appraisal" correctly. It's kind of a big deal.
 

redfalcon

Freshman Member
Joined
Nov 5, 2007
Professional Status
Appraiser Trainee
State
Florida
Hey Bruno,

I understand your reason for practicing appraisals. Like you, I am a new trainee having a tough time finding a mentor, but I think you might want to be a little more careful of how you communicate your language. As Register Trainee Appraiser in the state of Florida you can only do appraisals under a Certified Residential/General.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
Many states have different requirements when it comes to logging experience credit. The best advice that's been given on this thread has already been repeated several times - contact your state board and find out exactly what they do and don't allow.

One more thing - even if it's technically possible to log hours without a supervisor, if the state expects each and every report that appears on that log to be 100% within standards that's going to be a very difficult point to get to without qualified supervision.

Based on some of the stories we've heard about the Wisconsin board and their interpretations of appraisal standards I would highly recommend not taking chances.
 
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