Using MLS Photos

[KYLECODY]

Why stop at just the exterior inspection of the comparables, go knock on there doors and ask for a walk through with pictures maybe they have a shifted foundation, mold, peeling paint, built in surround sound, pet smell, vintage carpet, delta faucet, no stove, sump pump, who knows what value features one can find.

Delta faucet....

 

[TRESinc]

Why stop at just the exterior inspection of the comparables, go knock on there doors and ask for a walk through with pictures maybe they have a shifted foundation, mold, peeling paint, built in surround sound, pet smell, vintage carpet, delta faucet, no stove, sump pump, who knows what value features one can find.

that's precisely what appraisers used to do along with driving to the courthouse on an almost daily basis.

 

[J Grant]

Reduce time spent driving by comps, but increase the reporting related to analysis

No! The last thing we need is a mandatory increase in reporting. If appraisers can save time by not driving comps the best use of that time is research, verification and analysis, not window dressing verbiage as a requirement. If clients are using appraisers who make only generic /bare bones comments on report, the remedy for that is don't use them.

A benefit of not requiring driving comps is often a better comp is revealed after inspections are done and appraiser is back at the desk and can really pore through the sales knowing the interior and quirks of subject. Without having to drive it, better comps can often be used. It is not possible pre comp a subject well each time out and pulling over on road to look up a comp on iphone is more rushed compromised methodology.

With tight turn times and esp with lower fees is an appraiser really going to drive back out again if they find a better comp after they get home? Can they afford to do so? They certainly can't start charging more for additional hours with TRID /set fee on res lending assignments

The expectations and requirements for appraisals emphasizes too many marginal things while denying time or develop important things that lead to more reliable reports.

 

[Carlos Danger]

I have been invited to look at the interior of several comps over the years. This is in NJ. In Ohio they would probably make you breakfast, if you were nice.

 

[timd354]

View attachment 28544

I don't miss being in the field on days like shown in that photo, lol

 

[TRESinc]

pulling over on road to look up a comp on iphone is more rushed compromised methodology.

this made me spit my coffee out laughing so hard. how does looking up a comp on a phone parked on the side of the road equate to rushed compromised methodology? do you search for comps in one style in your office and another when you are not there? if anything it should save time as you can immediately go drive the comp and take an original photo vs driving back to the office, looking for comps and then drive out to the comp to inspect and photo.

 

[J Grant]

I guess I am old school that way ! I find looking it up fast on tablet or iphone before one is involved in meat of report does not always yield the same comps I will find with more time at desk after report is starting to develop

 

[J Grant]

You are able in the field on an iphone, look at MLS interior photos of a comp and do overhead map to see what it backs up to? And what if you have an other appointment you can do all that?

I find some of my best comps back in office and if have to will go back out (one reason I limit area to a smaller radious). and/or photo more comps than needed because some may be eliminated once one has time (that precious resource) to really pore over the MLS photos, verify etc

Comp selection on a residential property is the most significant driver of value and report results. I was always amazed at the terrible comp selection on some reports assuming they have access to data how could they skip good comps and manage to use terrible ones? Was it lack of time? Agenda to make value (in some cases that was clear), or a tin ear for comps not being able to tell what are best substitute? The drive by requirements limiting selection?

 

[Peter LeQuire]

that's precisely what appraisers used to do along with driving to the courthouse on an almost daily basis.

Some of the appraisal anachronisms still do. Some of them still remember how much comparable information could be gleaned serendipitously in the process of looking at tax cards, or the Assessor's office land pricing maps, or at the log of plats submitted for recording, or at the sink in the men's room chatting with the Assessor, or at a desk in the Register's office listening to a title attorney and a surveyor talk about what's happening.

 

[Terrel L. Shields]

I wonder what is so difficult about finding a parking lot and pulling over to use your GPS or phone. Frankly I find TomTom easier than a phone but they are not designed to change on the run. Better yet take another person and have them do pix while you concentrate on driving.