UAD 3.6 Key Changes (And Resources You Need to Know)

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We’re all hearing more and more about the new Uniform Appraisal Dataset (UAD 3.6). Some of you may have even gotten inquiries from lenders or financial institutions already.

Are you ready for it? If not, you’ll need to be very, very soon.

UAD 3.6 is a complete rethinking of how valuation data is structured, communicated, reviewed, and delivered. And whether we love it or hate it, this will soon become the way appraisal work is done.

Will this require adjustment? Absolutely. The first few reports might feel like you’re learning appraisal all over again.

The good news? Once you understand it — really understand it — you might find you actually like the new structure. You might even wonder how we ever tolerated the old forms for so long. But to get there, I’d like to walk through some of the biggest changes that caught my eye.

So grab your coffee, settle in, and let’s take a look.

The Best Place to Start

Want to get some additional education on UAD 3.6? Start with FannieMae.com/UAD. I’ll be referencing this a LOT throughout this article.

This page has lots of documents, videos, sample reports, etc., and it’s all free. But one document should be your new best friend, and that’s the Appendix F1 URAR reference guide. It’s a PDF download with a ton of information. 

Fair warning, if you’re thinking about printing it out, know this: it’s currently 375 pages. I have one printed on double-sided paper, and it’s still huge. The digital copy may be a better option, especially because it’s searchable.

Key Changes to Note:

Material Difference

One of the first things appraisers notice about the new UAD is the way property characteristics are captured. Gone are the days of squeezing every nuance into a comment box the size of a Post-it note. Instead, the new system requires us to think more like data scientists — a structured, repeatable process that logically organizes the characteristics of each property.

That includes thinking differently about what counts as a “material difference.” Appraisers have always had to consider market-relevant features, but now those distinctions need to be expressed in a standardized way.

For example, when the new UAD asks about property characteristics, it’s not just saying, “Describe the house.” It’s asking:

  • What features drive value?
  • What features define the market?
  • What features set this property apart from the competition?

Things like location, site size, garage, and condition might be material. But depending on your market, other factors like barns, outbuildings, fencing, and even access road type could also matter. The important part is consistency: describing similar qualities in similar ways across your reports.

And yes, some of you are already muttering, “Bryan, appraisers have always done this.” True. But the difference is how the information is captured. The old forms forced us to make narrative descriptions do the work of structured analysis. The new system flips that. Narrative still matters, but structured data comes first.

Comp Drive-bys

True story: There was a guy (let’s call him Steve) who was in Horse Branch, KY taking comp photos. He drove up to Hartford and stopped at a funeral home. You may wonder, “why did he stop at a funeral home?” Well, at that time, one of the funeral home’s owners, Danny Schapmire, was also an appraiser. (A great appraiser, actually, and a stellar human. He has since passed.) This county had limited data, and we’d always go ask Danny for data that we couldn’t find ourselves. 

Steve walked in and said, “Danny, I’ve got a subject property. You got any comps you know of?” 

Then, another man came into the funeral home right after him, furious, asking, “Where is he?” 

Danny immediately tried to calm him down and asked what was going on. The man said, “There was some guy in front of my house taking pictures, and his truck’s parked in front of your funeral home. If I find him, he might end up staying here.”

This guy was mad.

Danny was able to calm him down and explained, “Look, you bought your house a few months ago. He’s an appraiser like me. Part of our job is to find comparable properties, and since your house sold a few months ago, he’s using it as a comparable. He’s not casing your house or anything.”

The guy eventually left, and everything was fine in the end. But that stuff really happens, and I’m sure you have similar stories from your own experiences hunting down comp photos. I know I’ve got an abundance of them. 

The new UAD 3.6 changes the game on comp drive-bys. The reference guide states: “The creation of UAD 3.6 has allowed us to revisit this requirement. While we still require clear descriptive color photos of the front of each comparable, we have retired the requirement to inspect the comparable sales from the street.”

Personally, I’m glad they’re retiring that policy.

Ceiling Height

If you were to search for “ceiling height” within the F1 reference guide, you’ll find that one of the references (report field ID: 10.045) details when to include it, and the answer is always. But I’m going to back up real quick and read what it says about starting under walls and ceiling. 

“The appraiser must…” Must is not a suggestion, folks; must means you have to do it — i.e., “provide information about the walls and ceilings in the unit.”

The walls and ceilings row always displays in the interior features table, and you have to choose one or more of the allowable answers. So ceiling height (that is, the approximate ceiling height in the unit, rounded to the nearest foot) is always required.

How are you going to get that ceiling height? Well, I’d guess you’re going to measure it. And for those of us that use a laser or something similar, it should be pretty easy. For those of you using a tape measure — don’t. I like to tease people when we come to this one and say, “If you’re using a fiberglass tape measure, and you have to carry around a ladder and get on a ladder to measure something, videotape yourself. I want to see you doing that.” (But actually, don’t do that. It’s dangerous. Instead, invest in a laser or some sort of device where you can grab that measurement more easily.) 

Is this a big deal? That’s up to your interpretation. But whether you love or hate this change, it is a new requirement. 

Broadband Internet

Let’s talk about one of the more surprising features in the new UAD: broadband availability.

Yes, you read that right. In 2025, internet access joins the ranks of site, view, and utilities. And honestly, it’s about time. If you’ve ever tried to run your business off two bars of rural cellular service, you know that internet speed can be a real market factor.

It’s a simple question – “Is broadband internet available?” — and your answers are yes and no.

If you check “yes,” you’re confirming high-speed internet access is publicly available exclusively through a digital subscriber line, fiber optic, or cable. If you answer “no,” you’re saying public high-speed internet access is unavailable, or it’s only available through a private satellite. If it’s a satellite, it’s a no. You might say, “Well, what if it’s Starlink? Is that a satellite?” Nope, the answer is still no. 

But how do you verify it?

I’ll admit, when this initially came out, I was a little concerned. Here’s why.

A buddy of mine bought a house, and one of his conditions was, “Is there broadband readily available?” The MLS listing said yes. The seller said yes. Everybody said yes. So, he bought the house. But when he was changing the utilities over to his name, he called the internet service provider and said, “Hey, I need to schedule to get the highest speed internet access available to my house. I work at the hospital as an IT specialist, and I’ve got to be ready to spring into action at a moment’s notice, in the event something goes bad.” 

To his surprise, they said, “Sorry, but high speed internet is not available at your house.” 

He naturally responded, “Whoa, I just bought this house. This is a newer subdivision. And I was told I had broadband internet here.” And they said, “Well, it is readily available to your subdivision, and it’s even readily available to your street. The problem is, it’s across the street, not on your side of the street.”

Obviously, he wasn’t happy. In fact, he was pretty upset. The hospital could call him at 2:00 in the morning, and he’s one of the few guys there that has to be available at all times. He had to have high-speed internet. It was quite literally life-or-death, in some cases. So he asked, “Well, what do I have to do to make it available?” 

They replied, “Well, we could get it to your side of the street, and we can have somebody out there next week, but it’s going to cost you $13,000.” Excuse me? $13,000 in unexpected expenses?

So the question is: Would he have recourse against the individual that sold him that house? Honestly, I don’t know. I’m not an attorney or a judge. But he may try.

So, what if I was the appraiser in that case? And I relied on the seller or the MLS, only to find out, yikes, the internet’s not readily available. That would have been bad, right? This is why I was really concerned when I first saw this change.

Personally, I would do two things. 

1. Ask the homeowner.

My company has a questionnaire we give to homeowners. This questionnaire has lots of information that we want to ask anyway. “Has your property been offered for sale in the last 12 months? Have the kitchens and bathrooms been updated recently? When was that done?” Then we include some disclosure statements. And guess what I’m probably going to add to this questionnaire now? “Is there broadband internet available to your house?” I’ll give the definitions as prescribed in the F1 reference guide. This way, at least I have that in my work file. We always make these questionnaires part of the appraisal report.

2. Search the FCC Broadband Map.

If you go to the FCC Broadband Map at broadbandmap.fcc.gov/home, you can search by address. (Yes, it’s an actual federal website. Yes, it’s surprisingly user-friendly. I know, I was shocked too.) It’ll tell you all about broadband availability. You can also save and/or take a screenshot of the page, and add that image right into your appraisal report. I’ll be utilizing this resource in all my reports.

Environment

Another major theme in the new UAD is understanding the broader environment around the subject property. In other words:

  • What influences buyer behavior?
  • What affects value outside the four walls?
  • What external factors shape the market?

This includes everything from land use trends to hazards, public utilities, environmental risks, and much more. The new structure forces appraisers to think comprehensively — not just about the property itself, but about its context.

This isn’t busywork. It’s what we should have been doing all along. The new format simply makes the expectations clearer and the results more consistent.

Change Is Hard

Appraisers are not known for embracing change. We’re in our routine. We love our routine. 

The new UAD is a big change. Yes, it feels like a lot right now. Yes, there will be frustration. Yes, you’ll be tempted to mutter a few choice words at your computer screen. But this is the new standard. This will become your new routine. And once it is, I think you’ll be glad. And I don’t think you’ll want to go back to the way we were doing it before. 

If you want to start digging deeper, visit FannieMae.com/UAD. That’s the official site, full of documentation, resources, examples, FAQs, and even sample reports. Once you see how it all comes together, I think you’ll feel more confident about making the transition.

Be prepared, be ready to adapt, and get out there and make some money. 

Closing Thoughts: Your Biggest Asset

Before we wrap up, let me offer one little reminder: Your number-one asset in life isn’t your business, your license, your expertise, or your fancy laser measuring tool.

What is your biggest asset? You may have a nice car, a nice house, a lot of money in the bank, and those are all wonderful assets. But if you lose your car, you can get another one. If you lose your house, you can get another one. If you lose your wealth, you can rebuild. I’ve been on top of the mountain, and I’ve been at the bottom of the mountain, and everywhere in between (the top’s better, trust me). But that’s just stuff. You can replace stuff. 

Maybe it’s because I’m getting a little older, but there’s one asset I know I can’t get back.

It’s time.

Time with family. Time with friends. Life outside of work. These are the things that actually matter.

You can always write another report. But you can’t get back lost time, missed experiences, or relationships with your loved ones. So turn your phone upside down, or even better, turn it off, and enjoy that most valuable asset you have — time.

Happy appraising. Happy living. —Bryan Reynolds

 

This article has been adapted from a recent episode of the Appraisal Update Podcast with Bryan Reynolds, which you can view here:

 

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Understanding Fannie Mae’s New Market Conditions Adjustments Policy

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Last spring, Fannie Mae introduced a policy update that had appraisers and lenders talking. But this change was really just a reminder of what’s already standard practice: analyzing and adjusting for market conditions in every appraisal. The new guidance comes with a stronger push for appraisers to document time adjustments when the market demands it (and for the lenders who review their work to expect it).

If you’re not familiar with the term, time adjustments (aka market condition adjustments) account for how a property’s value changes over time—specifically, between the date a comparable property went under contract and the effective date of the appraisal. In a volatile market, those changes can be significant, even over the course of a few weeks.

What Spurred the New Guidance?

We saw real estate prices go crazy during the pandemic. At the time, Fannie Mae flagged a lot of appraisals for not including time adjustments, even when data supported them. When asked why, appraisers often gave the same answer: “When I make a time adjustment, the lender pushes back. It’s a headache I’d rather avoid.”

The problem wasn’t just with appraisers. Lenders, underwriters, and reviewers often saw time adjustments as problematic and unnecessary, so a lot of appraisal reports went out without acknowledging the very real market changes that had occurred.

The new policy is meant to change that mindset. By explicitly stating that market-derived adjustments (including time adjustments) are a necessary appraisal practice, Fannie Mae is sending a clear message to lenders: expect to see them. And to appraisers: you must do the analysis, every time.

What’s in the Updated Selling Guide?

Fannie Mae’s Selling Guide now includes two key additions related to market condition adjustments:

  1. Failure to make market-derived adjustments, including time adjustments, is unacceptable. If the data supports it, it should be in the report. This applies whether the market is rising, falling, or flat.
  2. Comparable sales must be analyzed for changes in market conditions. There’s no exception to this. Appraisers must analyze the data first, then decide if an adjustment is warranted based on that analysis—not the other way around.

The guide also clarifies what constitutes acceptable evidence for a time adjustment: home price indices (HPIs), statistical analyses, paired sales, modeling, or other commonly accepted methods. Bottom line: almost any credible evidence is better than none. Fannie Mae understands that appraisers in high-data urban markets may have sophisticated MLS tools, while appraisers focused on rural or unique-properties may need out-of-the-box approaches.

So, How Do I Support My Adjustments?

A big part of the update focuses on reporting. It’s not enough to simply list “+1%” or “+$70 per square foot” in your grid. Fannie Mae wants to see the math—how you arrived at that figure, what data you used, and why it applies.

The Selling Guide even includes an educational chart for lenders showing how adjustments vary depending on when each comparable went under contract. One comp might require a +2% adjustment, another +1%, and another a -1%—all in the same report—because each was tied to a different point in the market cycle. That’s normal. That’s the job: to analyze resales of the same property over time, isolating value changes that track market fluctuations. If a property sold for $200,000 two years ago and resold for $210,000 without any renovations, the $10,000 increase likely reflects market appreciation. By analyzing several of those resales, appraisers can reconcile a credible percentage adjustment.

Fannie Mae’s position? Yes, that’s an acceptable method. Again, almost any documented, reasoned analysis is better than no analysis.

Can I Use Older Sales?

The question often comes up: can you use a comparable sale older than 12 months? Absolutely. In fact, sometimes an older sale is the best sale, especially for unique properties.

Take the example of a two-story brick farmhouse built in the 1880s. In rural areas, there may be only one truly comparable home within miles, and maybe it last sold five years ago. If its physical and locational characteristics are nearly identical to the subject, that’s a better comp than a newer or dissimilar home. You’d just have to make a market condition adjustment for the five years of change, supported by data.

Another example: imagine two identical houses next door to each other, one of which sold 13 months ago. Common sense says you’d use it, making a time adjustment if necessary, rather than substituting a less comparable property just because of an arbitrary 12-month cutoff.

The Importance of Market Segmentation

Another point to ponder: not all properties in a market move in the same direction on the same schedule. A city’s overall market trend might be flat or declining, but certain segments, like starter homes, could still be in high demand and appreciating rapidly.

During the last housing crisis, large custom homes in some markets declined sharply, while smaller, more affordable homes gained value as buyers downsized. The appraiser’s job is to understand and document what’s happening in the competitive set of properties for the subject, not just in the broad market.

This means the one-unit housing trends box on the 1004 form should reflect the segment that competes directly with the subject, not an average of unrelated property types across the neighborhood. Be specific. Zoom in and see the details.

Don’t Overcomplicate Things

While the policy change stresses that you’ve got to do the analysis every time, Fannie Mae isn’t asking for a PhD dissertation in every report. Basic, common-sense market analysis—clearly summarized and supported—is often enough.

In many cases, choosing strong comps will make the market conditions adjustment much less complicated. If you have three recent, similar sales in the immediate area, the time adjustment may be obvious—or nonexistent. But you still need to document your analysis, even if it leads to a “0%” adjustment. The goal isn’t perfection; it’s credible, supported numbers.

Ultimately, this policy update is about shifting expectations. Fannie Mae wants time adjustments to be seen as normal and expected, not anomalies or headaches. Appraisers are still the local experts. It’s up to them to determine the correct rate of adjustment. Fannie Mae won’t nitpick the exact percentage as long as it’s supported by reasonable evidence.

Conclusion

The bottom line:

  • Do the analysis every time.
  • Document your reasoning.
  • Support your numbers with credible evidence.
  • Don’t ignore a relevant comparable just because it’s more than 12 months old.

And remember: it’s entirely possible to have a positive, a negative, and a zero market condition adjustment in the same report, if that’s what the data supports.

The new Fannie Mae guidance on market condition adjustments is less about changing appraisal methodology and more about reinforcing sound practice. It’s about making analysis and transparency the default, not the exception. For appraisers, this means more than just filling in a percentage. It’s about showing the work, explaining the reasoning, and making sure the report tells the full story of the market the subject property is in.

When the market is moving, buyers, sellers, lenders, and the public deserve appraisals that reflect reality. This policy is a step toward making sure they get them.

This article is adapted from this Appraisal Update Podcast episode from April, 2025.

 

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The New URAR: Finally, Uniform

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Since I started in this profession, we’ve been filling out something called the “Uniform Residential Appraisal Report.” URAR. A tidy acronym, an orderly idea. The problem, of course, is that it wasn’t uniform. Not by a long shot.

There was a form for a single-family house. Another for a condo. Another for a two- to four-unit property. Yet another for a manufactured home. You could practically fill a filing cabinet with the different “uniform” forms. Each one with its own quirks, limitations, and yes, checkboxes. Lots of checkboxes.

The first URAR came into the world in 1986, when Fannie Mae and Freddie Mac decided it might be nice if appraisers stopped sending in reports written on the backs of napkins or, worse, dictated into a tape recorder and transcribed by the typist down the hall.

By the mid-1990s, the form had become the backbone of mortgage lending. Every residential loan needed one. The problem was that “residential” meant a lot of things. It meant one house on one lot, sure. But it also meant a condo in Miami Beach, a duplex in Des Moines, or a manufactured home sitting proudly on a quarter-acre halfway between Humboldt and Gadsden.

Each property type came with its own form. Each form came with its own rules. Each rule came with its own set of misunderstandings.

So, what was “uniform” about it? Not much. If you were appraising only single-family homes in subdivisions, you might get away with only using the URAR. But step outside the tidy framework of cookie-cutter houses, and you’d need another form, an addendum, or some cobbled-together franken-design mess to tell the story. I have passed on condo appraisals in the past just to avoid dealing with the condo form.

The new URAR adapts to our needs. If the property has two units, the report expands. If it’s a condo, different sections appear. If it’s a manufactured home, the right data fields show up automatically. You no longer have to select from a menu of forms; the report builds itself around the property you’re analyzing.

It’s flexible, but structured. It’s detailed, but readable.

For the first time, lenders, regulators, and appraisers are all looking at the same thing. Not a PDF that tells a story one way for the reader and another for the database, but a unified, structured document that preserves the narrative and the data in one place.

For too long, we’ve treated appraisal as a stack of paperwork. The new URAR reframes it as a flow of data and analysis. The appraiser’s job is not to fill in blanks; it’s to interpret reality and record it in a way that others can trust, read, and reuse.

For too long, we’ve treated appraisal as a stack of paperwork. The new URAR reframes it as a flow of data and analysis. The appraiser’s job is not to fill in blanks; it’s to interpret reality and record it in a way that others can trust, read, and reuse.

Because a single-family home in Denver and a fourplex in Detroit don’t look alike, but they share the same fundamentals: location, condition, quality, and market forces. The new framework recognizes that and organizes it accordingly.

The story is still ours to tell, but the structure lets that story travel farther.

If, like me, you’ve been doing this a while, you might be tired of hearing about “big changes.” Every few years, someone promises revolution and delivers another PDF.

This one’s different.

The URAR redesign isn’t about forms, it’s about how we communicate. The goal isn’t to make the job harder; it’s to make the work more meaningful. The new report gives us room to explain, to narrate, to analyze. The structured data captures what’s measurable. The commentary captures what’s human. It’s a marriage of logic and judgment, of code and craft. Lenders get cleaner data. Regulators get consistency. Reviewers get clarity. Borrowers get transparency.

But the real winners might be the appraisers who adapt early. Because this isn’t just a technical update. It’s the new language and grammar of valuation. And those who learn to speak it fluently will find themselves more valuable than ever.

When you strip away the noise, the new URAR is about credibility. It says: here’s what the property is, here’s how I know, and here’s the data to back it up.

That’s what investors want. That’s what lenders need. And that’s what we’ve always tried to deliver, but with a mishmash of forms and addenda, and a mind-numbing complexity in presentation.

So yes, the new URAR finally earns its name. After all these years, “uniform” means something.

One report. One language. One process for every residential property type.

It’s the same notion we started with in 1986, but this time, we’ve got the technology and the discipline to make it work.

And maybe, if we get it right, the next generation of appraisers won’t have to explain what “uniform” was supposed to mean in the first place.

 

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What does “bias” in appraisal really mean?

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What constitutes “bias” in appraisal isn’t always what you expect, according to an attorney who handles cases involving appraisers.

First, let’s start with a definition we can agree on: Objectivity in appraisals means analyzing data based on well-established principles, free from bias or external pressure.

Appraisers know what external pressure looks like. Anybody who’s been in the business for as long as I have knows all about the regulatory firewalls that were enacted following the 1980s S&L crisis (FIRREA) and the 2008 financial crisis (Dodd-Frank, HVCC). There’s lots of disagreement on the legacy of these regulations, but they were undoubtedly created to address the perception of undue pressure on appraisers from financial institutions or other parties involved in transactions.

Now let’s zoom in on bias. This topic does NOT inspire feelings of neutrality in the appraisal community. That non-neutrality comes out (a bit explosively) in comments threads and appraiser forums, and sometimes even in the classroom. I’ve sat in on several of Peter Christensen’s in-person classes on bias and fair housing law, and invariably somebody in class pushes back. Sometimes the air gets pretty hot and hostile. But Peter always handles the pushback with calm and aplomb. He hears folks out, responds respectfully, and steers the conversation back to his thesis — that bias exists, and it can take forms that we don’t necessarily expect.

In a brief interview I did with him (see the video below), he tells a story about a case he handled, in which an appraiser’s report was found to exhibit bias to a homeowner whose political views he loathed. Peter tells this story in his class, and it always surprises people, because they’ve seen this divide in their own lives and can imagine something like this actually happening.

I thought I knew what bias looked like, but I’ve begun to realize that it can creep in when we’re least expecting it. —Hal Humphreys

I thought I knew what bias looked like, but I’ve begun to realize that it can creep in when we’re least expecting it. Recently I was laughing to a colleague at the notion of “luxury vinyl” plank flooring. “That’s an oxymoron,” I scoffed. “How can vinyl be ‘luxury’?”

“You just showed bias,” said the colleague. And I realized he was right. Lots of builders and consumers love LVP. It’s waterproof, low-maintenance, and easy to install. Some of it looks pretty good. I do NOT love it, and I probably won’t put it into my own house. I’m old school: I love hardwood floors and porcelain tiles, and I’ll splurge on nice materials whenever possible. But my flooring bias should never creep into my valuations. I shouldn’t assign a home a lower quality rating solely because it includes LVP. If buyers value it, that’s what counts.

The takeaway: you might harbor biases without realizing that’s what they are. They may seem innocuous, but they may sneak into your analysis all the same. That’s why I love how Peter Christensen approaches his class on valuation bias and fair housing law: He comes at it from an angle you won’t expect. He doesn’t accuse or shame anybody; he tells stories of how bias crops up in the real world — in the history of real estate, and in lawsuits and appraisals that have been challenged. He’s defended appraisers in matters before HUD and involving the CFPB, so he know how these cases play out, and he shares those stories in his class. His tone is one of deep experience, genuine curiosity, and intellectual humility.

Check our course catalog for Peter’s 7-hour class, Valuation Bias & Fair Housing Laws and Regulations. We’re running this course about every eight weeks this fall and winter, and the frequency will most likely pick up early next year.

Which brings me to some intel about a new CE requirement: I flinch a little when I mention this, because we’ve gotten some very angry (and even profane) responses when we’ve informed folks that the AQB has made this 7-hour class on bias and fair housing laws and regulations mandatory for licensed appraisers effective on January 1, 2026. Don’t murder the messenger. We’re not telling you what to do — we are not an all-powerful body with the power to mandate things. We merely inform, and so we’re just letting you know what the AQB has mandated.

If When you take this class, I predict you’ll discover that bias cases aren’t always what you expect, and you’ll learn what you didn’t know you didn’t know about fair housing laws. Maybe you’ll come away ready to challenge your own assumptions and rethink your definitions of bias and objectivity. I just ask you, humbly, to keep an open mind. Watch the video below to learn more.

 

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The Appraisal Summit: Get UAD 3.6 Intel, and Stay in Touch

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The Appraisal Summit | September 27 – 30 | Planet Hollywood Resort & Casino | Las Vegas, NV

There’s a LOT going on in the world of appraisal these days. The stakes are pretty high. And you’ve got questions.

The Appraisal Summit is your chance to get some answers and find out what can’t be known (yet) about the UAD 3.6 rollout, AI and appraisals, and more. Come to the place where everyone gathers: reps from the GSEs, software companies, insurance providers, and folks like you, the working appraiser. (See the schedule here.)

At the Summit, you’ll get tons of CE, face-to-face time with colleagues and industry bigwigs, and discussions about the huge issues that are lurking menacingly on your professional horizon. Grab the mic and ask those questions that are on your mind: Are software companies and lenders ready for UAD 3.6? Am I ready? How is AI going to change how I do my job? (Does anyone even know the answer to that one?)

Be courteous and curious. Keep an open mind. And just maybe, by the end of the conference, those issues won’t seem quite so menacing.

Here’s a possible itinerary:

  • Saturday 9/27: Get bonus CE on litigation support in the morning and on the cost approach in the afternoon. Have relaxed, civilized French bistro fare at Mon Ami Gabi, a short walk away at the Paris casino.
  • Sunday, 9/28: Get fully briefed (+ 7h bonus CE) on the new URAR with Bryan Reynolds. Then celebrate your deep learnings at the opening reception.
  • Monday, 9/29: Hear all about UAD 3.6 from the GSEs and the software companies. Reconnect at the NAA membership meeting, then sip a beverage with old friends at the Caramella Hidden Lounge.
  • Tuesday, 9/30: Dive into appraisal-related laws and regulations, AI, and the future of appraisal in the general sessions. Snag a Gordon Ramsay burger with a new connection and absorb all this new info together.
  • Wednesday, 10/1: Fly home rejuvenated by collegial connections and armed with accurate intel about what’s up in our industry.

There couldn’t be a more crucial time to be in the room with key players and colleagues facing the same questions you are. Not to mention that getting together with colleagues is a great way to break the isolation of day-to-day appraisal work. See old friends, celebrate and commiserate, and make memories! Click here to register.

The Appraisal Summit | September 27 – 30 | Planet Hollywood Resort & Casino | Las Vegas, NV | Co-hosted by the NAA & AeL (us!)

 

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The New Appraisal Report: How One Company Is Rethinking Appraisal Software

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How are appraisal software providers retooling their products for UAD 3.6? One provider, Jeff Bradford, shares his thinking.

In the Appraisal Update podcast, I’m always talking about the “train of change” coming to the appraisal world. If you’re an appraiser, you probably rolled your eyes. We’ve heard this before, right? For years, people have said “change is coming,” but then… nothing. Same forms, same software, same grind.

But it’s real this time. The train is pulling into the station. 

I want to talk about a video from late last year that’s gotten a lot of attention, even from the GSEs. I think it struck a chord. So let’s talk about what it is, who created it, and why.

A couple of years ago, when the GSEs first announced the new UAD rollout, they effectively hit the reset button for everyone in appraisal tech. Software companies had been in the business of form-filling: They helped appraisers build reports by filling in forms, attaching images, adding addendums, and producing a PDF. 

Starting late this summer, the GSEs are going to ask us for something very different. They now want a dynamic report, not a static form. What that actually means is that instead of the old, static, one-size-fits-none forms, your data inputs will trigger a fluid logic tree of prompts, which will change depending on property type and other variables. (Some sections,  like summaries and reconciliations, will remain standard.)

Suddenly, the software companies are staring down a whole new paradigm.

From Form-Filling to Decision-Making

Jeff Bradford, founder and CEO of Bradford Technologies, says he’s in the publishing business. His software suite helps appraisers through the whole process of inspection, comp selection, and analysis, and pulls it all together to help them “publish” solid reports. 

Now he’s facing a radical ROV: a reconsideration of the value of his entire product line. In my interview with Bradford late last year, he walked me through how his strategy changed after the GSEs’ announcement. “We said, ‘Do we want to continue being in the form-filling business?’” he told me. “Why not rethink what appraisal software can be?” 

Instead of doubling down on smarter forms, Bradford’s company decided to walk away from the form-filling business entirely. They’re shifting their focus to the parts of the job that actually require an appraiser’s judgment—analysis, comparison, trend evaluation, market insight, etc. 

Bradford built software that does the heavy lifting. It gathers data. Lots of it. It slices and dices it for you, shows you the trends, and then helps you make quick, confident decisions. Then, instead of making you input all that stuff again into a form, it extracts your conclusions and automatically generates the data outputs needed for the report.

Sure, there’s still a bit of input required, but they’ve essentially flipped the model. You’re not filling out a form—you’re analyzing data. The form builds itself around what you decide.

To help explain this shift, Bradford created a short video (about 10 minutes long) that walks you  through it. You can watch that video here.

Rethinking the Appraisal Workflow

We live in an “on-demand” world. You can get groceries and furniture delivered same-day. Why can’t we deliver an appraisal in a similar timeframe? That became Bradford Technologies’ north star: speed. We already have accuracy. We appraisers are great at what we do. This software just helps us do it faster.

Their new approach had to hit three marks:

  1. Speed – Faster than current workflows.
  2. Actionable insights – Real tools for real decisions.
  3. Enjoyable experience – Yes, actually fun.

The software now includes things like scanning floor plans in real-time, extracting metadata from property photos using computer vision, and auto-populating sections based on existing data, all while keeping the appraiser in the driver’s seat. You decide what goes in. The software helps you get there faster.

Bottom line? The form-filling days are over. Appraisers aren’t form fillers. They’re analysts. They’re decision-makers. Tech providers are just there to help us do that job better.

One of the most intriguing technological advancements showcased in Bradford’s new system is computer vision. This tech can scan a property live, instantly gathering detailed data. This live data capture eliminates the tedious task of manually retyping information, because the system automatically gathers analysis results and creates the necessary XML files—specifically the UAD-compliant data—before building the final report.

Jeff Bradford refers to this as the “bridge to the future.” Bradford’s new software, called NightHawk, integrates property inspections, data gathering, and analysis all in one place, eliminating the need to jump between spreadsheets or multiple systems. It pulls public records, MLS data, satellite imagery, and other relevant sources, providing appraisers with a comprehensive data set within seconds. The result? Faster decision-making based on richer, more immediate information.

How to Be Prepared

The new UAD is fast approaching, with a full mandate expected by November 2026. Appraisers will soon be required to adopt these new standards, marking a definitive end to the old ways of doing things. To help you keep pace, I’d recommend resources like training courses, continuing education, etc. Fannie Mae has released some training on the new reports, which I find incredibly useful, even for non-appraisers. And at AeL, we’re teaching Fannie Mae’s course on the new URAR every month or so for the foreseeable future. (Find a session that works for you in our course catalog.) It’s also useful to attend industry events like Valuation Expo or the Appraisal Summit, both happening in Las Vegas later this summer, where you can talk to software providers and GSE reps in person and ask all your burning questions. 

As you contemplate UAD 3.6, you can well imagine the benefits of having solid software in your toolbox. I’m not trying to sell you on any specific product. There are lots of software providers, and you may have a favorite. But I wanted to talk to Jeff, because I think it’s useful to hear how a smart software guy like him is retooling his product to integrate with UAD 3.6. Every provider is going to have to do just that. And you can just imagine how features like in-report reconciliation, qualitative analysis for rentals, and the ability to embed photos directly where needed can help you get the job done faster and better.

The “train of change” is not just coming. It’s here. There’s going to be a learning curve. But if you’re an early adopter, you can leave your competition in the dust. You don’t have to go it alone. From CE providers, to software companies, to Fannie Mae, there’s plenty of information out there for appraisers wanting to learn more. What matters most is being prepared. Are you ready for the new appraisal report? If not, we’ll help you get there. —Bryan Reynolds

 

Watch the interview:

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Fannie Mae’s Big Christmas Surprise: ANSI Required in 2022

Here comes Santa Claus, here comes Santa Claus … no, wait! It’s Fannie Mae.

So…Fannie Mae brought us a big ole early Christmas surprise, didn’t they? Boom! I don’t know if it’s a gift or not. You can decide. If you’re on the email list for Fannie Mae, you got the email on December 15 at 11am CST. And by the way, if you’re not on that list, jump over to Fannie Mae and subscribe to that list! That way, you’re in the know whenever they make a policy change.

Regardless, you aren’t likely to miss this one. The whole appraiser world is buzzing about it. But if by some chance you didn’t hear, here’s the big news: Fannie Mae standardized property measuring guidelines. Here’s a brief excerpt of the press release:

“Appraisers will be required to use the American National Standards Institute standard square footage method for calculating ANSI® Z765-2021 Measuring Standard (That’s the newest edition. It just came out in March, by the way.) for measuring, calculating, and reporting gross living area (GLA) and non-GLA areas of subject properties for appraisals with effective dates of April, 1st, 2022 or later, for loans sold to Fannie Mae.”

There’s a cute little video there you can click. And if you click on that fact sheet, it brings you up some facts. I guess that’s why it’s called a “fact sheet.” Here is is: Standardized Prioperty Measuring Guidelines.

Why did they make this change?

Basically, there was a lack of consistency. I mean, you could have three different appraisers go out and appraise the property and get three different answers. Right? So the whole intent of a standard is to get us on the same page, get us to have a level of consistency.

Bottom line: April 1s is your deadline. By April 1st, you’re going to start measuring by ANSI standards. And really, if you think about it, it’s kind of a good thing. I mean, there are pros and cons. But the thing is, if four appraisers measure a house, we ought to get the same answer, or at least be really, really close.

Everybody’s Biggest Problem with Measurement

As you probably know, some new changes to ANSI came out in 2021. I actually served on the consensus committee that did that. We had 44 comment letters, and 40 of the 44 were on the measurement technique for the second level on a sloped ceiling. Anyway, a couple of areas of concern in our Clubhouse Appraisal Talk group last night: Somebody was asking about the ceiling height, and that is a concern. Say you’ve got a house. And the house has a living room, kitchen, two bedrooms, and a bathroom on the primary level. Then you go upstairs, and there’s two private sleeping quarters up there and a bathroom. The only problem is the ceiling height is 6 foot 6.

Well, that doesn’t adhere to ANSI standard. So the second level in this example I just gave would not be considered square footage. That’s in accordance to the ANSI standard. Again, I think standards are good. They give us a way to try for a level of consistency. They get us all on the same page, or at least similar pages.

But that’s the area I struggle with, because we as appraisers are market analysts. We analyze the actions of market participants. Let’s look at an example. Do market participants think that that house is a two-bedroom, one-bath because of the lower ceiling height on the second level? Or do they consider it a four-bedroom, two-bath?

I think as an appraiser, I’ve got to look at that as a four-bedroom two-bath. That’s how the market looks at it. But the square footage, in accordance with ANSI, would not include that square footage. So that’s one challenge.

Comply with ANSI and get real about the market.

There are a few ways that you could comply with ANSI and also do a good job as a market analyst. One way is to say, “Okay, the square footage in accordance with the American National Standards Institute Z765 is 1,000 square feet. Whatever’s on the first level. However, market participants view this as a 1,500 square foot home, 4-bedroom, 2-bath, and that’s how I’m going to do it. So for analytical purposes, we’re going to analyze it like the market does.” I think that’d be okay.

Let’s look at USPAP. What does USPAP care about? Certainly protecting the public, that’s the first sentence of the preamble. But USPAP also cares about credible assignment results in the development aspect of USPAP, Standards Rule One. And then Standard Two, we’re concerned about not being misleading. I think I’ve achieved that if I say, “Hey, the square footage per ANSI is this. But the square footage that the market acknowledges is the higher number.” I think that’s one way that you can handle that.

Another way to handle it is: Put 1,000 square feet in for GLA for square footage. And then address the upper level, the 500 square feet in this case that doesn’t meet ANSI, as if you’re using pre-printed forms — as maybe a line item. And you would adjust it in that area.

And that’s what Fannie Mae’s fact sheet says: “If a house has a finished area that does not have a ceiling height of 7 feet for 50% of the area, some Cape Cods for example, in conformance with ANSI standard, the appraiser may put this area on a separate line, in the sales comparison grid and make an appropriate market adjustment. The report will be ANSI compliant and also acknowledge the contributing value of the non-GLA.”

So it looks like they want you to do it as a separate line item. That’s one of the two options. And I think you could do that and create credible results and not be misleading.

Takeaway

Appraisers resist change. We, as human beings, resist change. Here is a change. Get over it. It’s coming. You’re going to have to embrace it. And you’re going to have to adhere to ANSI.

Get your copy of ANSI. You can do so by going to Home Innovation Research Labs. I can’t give you one. It’s copyrighted. I’d love to give you one for Christmas. Can’t do it. So you’ve got to get your own, get familiar with it, understand it.

This post is not intended to be an educational offering for you to learn ANSI, so if you want more information, guess what? Appraiser e-learning has a bunch of classes on ANSI. Hamp Thomas has created multiple courses on ANSI: a self-paced online video course and a bunch of live-virtual courses throughout the year that will help bring you up to speed. He’s also got whole bundle of courses on becoming a home measurement specialist. You don’t even have to be an appraiser to get that. So if you’re a trainee listening to this, and you want to get an additional certification under your belt — if you want to stand out from the crowd — look into getting the HMS. If you’re an appraisal office, and you have a couple of workers there who are not appraisers or trainees, they could get the HMS. I know one appraiser out of Nashville, that about 30% of his income is derived from going out and measuring houses. It’s an excellent way to have a little side business to generate income and help others. So if you’re interested in that, go check it out: appraiserelearning.com.

Stay safe. Take a little break. I mean, work, work work. I get it. How things are these days. I get it. But take some time off. Hug somebody you love. And until next time, happy appraising. —Bryan

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Hot Topics in Real Estate Appraisal: Heavy Demand, Industry Changes, and the Question of Bias

Tim Andersen shares thoughts on some of the biggest issues facing the appraisal industry this fall.

A Good Time to Buy – or Is It?

Our friends the real estate brokers have a mantra: “Now is a great time to buy a house!”

Of course, they don’t get paid if we don’t take money out of our pockets, so they might be a tad biased.

Despite the brokers’ optimism, here’s a Newsweek article with a different perspective: “Only 35 percent of consumers believe it is a good time to buy a home, according to a National Housing Survey report released by home financing giant Fannie Mae in June,” writes Samantha Lock.

So maybe it’s not a good time to buy a house just because our broker friends say it is.

(source: “Is Now a Good Time to Buy a House?” by Samantha Lock. Newsweek, 7/28/21.)

Housing Issues: Supply, Affordability, Discrimination

Counselors of Real Estate(R) [CREs] tend to deal only with commercial properties. They aren’t well known in the residential appraisal arena. However, because they tend to look at issues from the 10,000 feet, rather than at ground level as we do, they see things differently. That’s why it’s worth checking out the CRE website — have a look at the 10 issues that article raises. Pay extra special attention to #6. I’ll wait.

In this era of pandemic lockdowns and other upheavals, housing supply and affordability are massive issues that aren’t going away. And whether you agree or not, neither is the issue of housing discrimination. It’s a topic some of real estate’s finest minds are struggling with (and have not yet solved). What’s the takeaway? What are your thoughts?

The Future of Appraisal

This 2020 article from the Motley Fool has a savvy take on the likely future of real estate appraisal: “…it’s likely an appraiser will spend less time at a property using their expertise in the field and more time behind a desk finalizing a property valuation using data gathered by other professionals, such as Realtors or property inspectors,” writes Liz Brumer. That said, she predicts that demand for appraisal services will grow 7 percent over the next ten years, even as the work of appraisal may be changing dramatically. Don’t panic!

(source: “The Appraisal Industry Is Changing: What’s the Future of Real Estate Valuations?” by Liz Brumer. Millionacres, The Motley Fool, Sep 07, 2020.)

And Speaking of the Future…

Check out this post I found on the site of the private real estate analytics firm, Cape Analytics. It’s about ideas for how tech innovations might help the industry deal with the high demand for appraisals right now, potentially speeding up turnaround times … and cutting costs.

As the post author points out, the technology already exists to <corporate blather alert> “… remotely and instantly gather geospatial property condition data on tens of millions of homes across the US—delivered with the speed and coverage of traditional property record data. This includes access to neighborhood, census tract, zip code, or CBSA data, both current and aggregated over time to unearth trends that might otherwise be extremely hard, if not impossible, to do with any traditional appraisal model.”

Please note the euphemistic reference to the “traditional appraisal model,” which, the article seems to insinuate, is outdated. The author adds that appraisers’ expertise is valuable (why thank you!) but also subjective (scratch that).

What will these “process improvements that allow non-traditional valuation services” mean for us plain-English-speaking, human appraisers?

I find it interesting that such data and analytics are available to anyone capable of paying for them — except for appraisers, of course, who can’t afford such data. What are your thoughts on this?

(source: “Viewpoint: The FHFA and the Future of Real Estate Appraisals,” Cape Analytics)

The Demise of Appraisal — Greatly Exaggerated?

When it comes to the demise of residential real estate appraisal, my friend Dustin Harris, The Appraiser Coach, has a different outlook. He (and his correspondents) opine that the future is not as woebegone as some might think. Of course, Dustin does admit to being an optimist. And the post is from the Time Before, when the world felt a little less crazed.

(source: “Is It The End Of the Appraiser?” by Dustin Harris. The Appraiser Coach Blog, 8.30.2017)

A Note on Bias

I’m hesitant to add anything more on real estate appraisal bias, but here goes. What I find disturbing is not so much the number of articles in the media on this, but the fact that the mortgage lending industry is happily letting the real estate appraisal profession “…take one for the team,” even though lenders and appraisers are not on the same team on this.

Back in the day when lenders, and the FHA, were busy redlining certain neighborhoods to protect themselves from what they perceived as excess risk, the appraisal industry was not the architect of that design. Not then and not now. To whatever degree appraisers and agents played a role in a discriminatory system — and we should take an honest, hard look at this — we did not spearhead it. For that, you can look to New Deal-era government housing programs, the FHA, the big banks, the Home Owners’ Loan Corporation. These policies came straight from the top, and the results were the segregation of housing in U.S. cities for generations to come.

We describe the market as we see it; we do not define it. It’s not our job to measure risk. Underwriters do that. It’s not our job to make policy. Lenders and public officials do that. Clearly, appraisers must work to rip out any discrimination there may be in any appraisal. But why are lenders, underwriters, and AMCs not taking more of the heat on this?

We can’t solve this massive societal problem if we just keep passing blame down to appraisers.

(To learn more about the history of redlining, see this exhaustive study, Mapping Inequality: Redlining in New Deal America, complete with lots of sadly illuminating HOLC neighborhood maps.)

Some Words on Words

Speaking of avoiding bias (how’s that for a smooth transition?), you’ll want to read this article on words Fannie Mae says we shouldn’t use anymore.

Actually, she’s right.

Saying that “the subject is in a desirable neighborhood” communicates nothing (and foretells a lack of supporting analyses). What’s also missing from that boilerplate sentence is a summary of how and why the appraiser reached that conclusion. Remember, per SR2-3, every statement of fact in an appraisal report must be both “true and correct” or it is likely misleading (and USPAP’s current definition of misleading is draconian!).

And besides, the words “desirable neighborhood” call forth some old notions it’s time we put aside for good.

(source: “Why Fannie Mae Doesn’t Want Home Appraisers Calling Neighborhoods ‘Desirable’,” by Brentin Mock. Bloomberg, July 23, 2021.)

And Now for a Shameless Plug

I want to see you at the annual Appraisal Summit, please! I’m ready to shake your hand and see your face up close and personal (in other words, not on a ZOOM screen!) It’s happening on November 6 – 9 at Planet Hollywood in Las Vegas, and the National Association of Appraisers (NAA) and the Columbia Institute have a real blowout planned for us, with special events for supervisors and trainees.

See you there! (Full disclosure: I’m on the NAA board of directors.)

What are your thoughts on these and other hot-button issues our industry is facing this fall? Share them in the comments below!

About the author:

Tim Andersen is an AQB-certified USPAP instructor, consultant, and reviewer. He travels throughout the US teaching USPAP. His other areas of expertise include writing, producing, and presenting webinars on all areas of real estate appraisal. Find out more about his mentoring, consulting, writing, and podcasting at his site, The Appraisal Advocate. 

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After 2020: The Future of Appraisal Work – Survey Results

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In our Appraiser eLearning survey, real estate appraisers across the country report more work than ever before, a few savvy adaptations, and a shift in life priorities.

We had more than eighty responses from appraisers all over the United States. Respondents were split nearly 50-50 between folks whose main source of income was assignments from AMC vs. assignments from lenders, with a few reporting that they mainly do litigation support. More than half work as solo practitioners and about one-fifth in firms of 2-5 employees. Most respondents said they had not retooled their firms for remote work — presumably because many solo entrepreneurs already worked from home before the pandemic. A few did retool how and where they worked, at least partially, and some said that prompted them learn new tech and new ways of delegating — and allowed them to become more productive than before.

Here’s where it gets interesting. More than half — 57% to be exact — reported having more work in the past year than they did before the pandemic. Lots more. “We inspected 450 properties in 2020,” said D Lawson from Texas. “That is 150 more than our normal year. And nobody in my 3-girl office got Covid.” And TMM, also from Texas, wrote, “The pandemic has been the best cash cow in 16 years in business.”

Several people reported doing more desktop and drive-bys this year, and many said that costs were down and income was up, or WAY up. “We are able to choose work and raise fees with little pushback,” wrote Greg, an appraiser in Texas. “Business is great, and I haven’t changed anything because of the pandemic. “We had already changed to a work from home situation. Our costs have never been lower and fees are the highest ever.”

Below, we’ll break down the numbers and dig into some of the detailed responses that people sent in. We think you’ll find it fascinating and illuminating, and probably familiar.

Thanks to all who took the time to answer this survey!

How did your work/income change over the past 12 months?

What are some ways you adapted your appraisal work or business strategy to this pandemic year?

Which of these professional challenges did you face over the past year?

“People are chasing appraisers on foot and in their cars. They beat on the appraiser’s window, windshield and other parts of the car. If the appraiser opens the window, they hit the appraiser repeatedly in the head. They file false police reports that the appraiser threatened them. I was in an online class where everyone had a similar experience weekly. It’s unsafe to be an appraiser now.” —Sandy (CA)

How will you prepare for future unknowns that affect our industry, such as recessions, interest rate hikes, housing crises, or other global emergencies like COVID?

Going forward, what will change about how you do business after the pandemic

“I think that we will continue to support our staff working from home and likely downsize our investment in facilities in favor of technologies to continue to support our network.” —DRD (MO)

“We sold our office building during the economic crash of 2009, over 10 years ago and while it hurt at the time, it wound up being the best decision we ever made. We consider ourselves blessed to have made that decision when we did. We worked off a remote server, communicated by phone and email constantly and met regularly, but never missed a beat. It was different but helped us get ‘lean and mean’ opening up the budget for better equipment and higher salaries.” —Victor Andrews (TN)

“Roll with the punches.”

—Scott Cullen (MN)

“I concentrated on local lender clients that value my services (as opposed to AMC’s). I added additional services for them (evals and restricted desktops); this was much more lucrative and rewarding.” —MWW (AL)

“This past year I took off more weekends, which allowed me to de-stress and actually do some relaxing. I tried to look at 2020 as a “gap-year” where I accepted less work, but was able to have more downtime.” —Linda K (TX)

“Going forward I’d like to incorporate more technology and get a trainee on board.” —MER (MO)

Were there any surprise revelations for you this year—the good kind? Lessons learned, shifts in priorities?

These answers were wildly variable. Lots of people said, simply, “no.” Others spoke of gratitude — for having a livelihood still when so many did not, and of being able to do the work safely (for the most part). Several appraisers mentioned taking much-needed down time during 2020 and enjoying time spent with family. A few were disappointed with how they were treated by clients and the people whose homes they inspected, while others saw their faith in humanity renewed by kindness.

“Who knew that the housing market would be booming during a pandemic?”

—SMK (OH)

“I continue to be amazed at the lack of knowledge in general about what appraisers do. Literally no one cares about us. They didn’t care if we got sick; didn’t care if we spread Covid to the universe; plain flat didn’t care. I contacted CAL BREA to see if we had any kind of special dispensation to receive the vaccine and they could have cared less whether we lived or died … I never received a single order that did not require me to do an interior inspection. Very disappointing!” —Allison (CA)

“Our biggest surprise of the past year was the amount of work out there for the appraisers who wanted to challenge themselves and not just take cookie cutter assignments. I personally learned that family is important. The year brought challenges due to elderly parents and providing care for them while trying to keep a business running smoothly.” —D Lawson (TX)

“Realized that remote workflow with tech tools and delegation works great. Actually increased productivity and volumes dramatically this year. Perspective changed with new model.” —Glen Calderon (MD)

“Learned to be more efficient and streamline the appraisal process. Was able to spend time on education and learning new systems. This year is starting off good.” —Norman Jones (KY)

“I don’t look half bad on Zoom.”

—dcs.value (NC)

“I was surprised how many people had no problem or issue with me coming into their house during a pandemic as long as they can get that lower interest rate. I had only a handful of borrowers cancel when they found out I had to come inside. I also finally realized that the work will always be there, take some time for yourself to recharge. Step away, put yourself as ‘on vacation’ or ‘out of the office’ with your clients. The time you missed out on doing things you love and just being with loved ones because you had deadlines, can’t be retrieved. It’s gone. Make some money – but don’t forget to make some memories”. —MER (MO)

On a scale of 1 to 10 (with 1 = maximum concern & 10 = extremely optimistic), how do you feel about the near future of your business?

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ACTS Attendees Share Their Experiences

In “The Appraisal Update,” Bryan Reynolds asks four ACTS attendees to share their reasons for coming to the conference and their takeaways from the week. Here are a few highlights of Bryan’s questions and his interviewees’ answers, condensed and edited for clarity:

Why did you decide to attend ACTS this year?

Jason Covington, an appraiser in Nashville, TN and first-time attendee:

“The timing was right for me to go experience what everybody’s been talking about, to meet the people who’ve been doing this longer than me, people I can learn from … names you’ve heard of, people you work in and around but never have met directly. This gave me the avenue to have conversations with those people and actually see the answer to the question, ‘How do I make change? How does my voice impact my industry? How does my voice count?’”

Nakia Manning, a trainee in Atlanta, GA and first-time attendee:

“I found it was necessary for my growth as an appraiser to go out and meet other appraisers. Up until now, my only contact with the appraisal world had just been my mentor. I felt like it was essential that I join this organization so I could learn more and come to this event, For me, it wasn’t the continuing ed. It was more that I felt the need to meet other people in my profession.”

Mark Skapinetz, an appraiser in Atlanta, GA and first-time attendee:

“For me [the motivation was], meeting people I’ve been wanting to meet for a long time. Having good conversations. You are building relationships with people you can call when you have a problem. I’ve had those people. Now I’ve gained more people to go to when I have a problem, to help me solve it. That alone is worth its weight in gold.”

How was your experience?

Ken Williams, an appraiser in Jackson, MS, second-time attendee, and splendid fisherman:

“This was probably my greatest experience at an ACTS conference. This meeting was really special. Of course, catching that fish didn’t hurt things at all.

“The first conference I was a newbie and everybody was a stranger to me. But I came back with a lot of knowledge and brought it back [to Mississippi] … This time around, I knew a lot of the people. It really brought the camaraderie together. I could loosen up a little bit and freely mingle, having fun and not being offensive. Come to find out it’s hard to offend you guys. But the camaraderie, the information, is what it’s all about. I think [NAA is] a wonderful organization, it’s going to do good things. And I do know that in numbers we’re going to accomplish a lot more. And I think we have that with this association.”

Mark Skapinetz

“I loved it. I liked the setup, I liked the way it was run. I liked the topics I was there for. That mock trial, along with what Craig Capilla added in his presentation after that, hands down, was the best thing I’ve heard in so long. It was something well needed, from somebody that knows what he’s talking about. Hopefully we do another mock trial. Most people have never been in front of a board. You don’t know what you’re up against. That opened my eyes as well. Really well done.

“It was different from other conferences in the sense that it didn’t seem so robotic to me. I liked the intimacy of it. I like that everyone was getting to know each other. I’m looking forward to next year.“

Nakia Manning

“It was amazing! … As soon as I was introducing myself, the central theme was, ‘Hey, you’re a trainee. Take my information. If there is anything I can do to help you, just give me a call.’ What stood out to me about the conference? It was the family atmosphere. It was still more than just a profession. It was all love, it was all community and family. It felt like more than just work. It felt like people who were genuinely interested in my well-being as an appraiser, and my well-being as an individual as well.”

“It felt like more than just work. It felt like people who were genuinely interested in my well-being as an appraiser, and my well-being as an individual as well.” —Nakia Manning

Jason Covington

“I found myself in an environment where I felt like I mattered and my voice was heard. There were platforms where I could get involved and petition for change. It felt wonderful to be a part of something like that.”

Will you come back to future ACTS conferences?

Nakia Manning

“Indeed! I’m from South Carolina, so it will be a pleasure to go to Charleston. Hopefully I’ll be able to puff my shoulders up and actually be an appraiser, not a trainee.”

Ken Williams

“Did you have to ask that question? <laughs> Absolutely! I’m already looking forward to [the next] one.”

What would you tell other appraisers about this conference?

Nakia Manning

“If there are any trainees listening, don’t wait like I did until the end of your training period to realize the need to get out and meet other appraisers. People have different ways of arriving at their opinion, and it would help you tremendously to see things from other perspectives. It was education about what we do, but there was also education about how to run your business — not just the job itself, but how to be more effective from a business standpoint. Really great people, really good information, and the CE is just the icing on the cake.”

Jason Covington

“Take a chance. Break out of the normal routine. Take a few days to meet some people. The topics and the speakers were top-notch. Wonderful information! The information I received was incredible. Give it a try!”

Ken "Big Fish" Williams
Ken “Big Fish” Williams

About the Author:

Bryan S. Reynolds, CDEI™ is a KY/TN Certified General Real Property Appraiser, a registered agent with the TN State Board of Equalization and an AQB Certified USPAP Instructor. He has testified in various courts, planning and zoning boards as both an expert and as an agent making valuation arguments before local and state hearing officials and Administrated Law Judges. Reynolds is the owner of Bryan S. Reynolds & Associates, Reynolds Appraisal Service and a partner in Appraiser eLearning. He provides residential and commercial valuation services, educational offerings, mentoring, consulting, and litigation support services throughout the country. He is available for lectures and is well known for his Think Outside the “Check” Box approach.

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