Public Records, Square Footage & the Real Estate Information Crisis
Discover the importance of the MLS and Public Records on the future of the entire real estate industry.
$119.95
Certified for 7 hours of continuing education in AL, AZ, CA, CO, CT, FL, GA, IL, KY, KS, LA, MD, MI, MO, MS, NC, NE, NJ, NV, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI and WV. More states coming soon!
Course Description
This course will shock you and give you a whole new perspective on the quality of online real estate information. Raw “information,” regardless of the quantity, is not indicative of knowledge. Pricing real estate requires local knowledge that is not available from any online source. This class is an exploration of the public records system, specifically the square footage details, and how this data impacts every aspect of the entire real estate and appraisal industries. The square footage details used in home valuations across the country are in error more than most people imagine, and the real estate information network is in a full-blown crisis! Inaccurate square footage details infiltrate every part of home valuation and these inaccuracies change home values; period. This data impacts the MLS, CMA’s, AVM’s, and appraisals. You will never look at the price-per-square-foot formula the same again!
Discover why living, breathing, thinking real estate appraisers should be in great demand in the future as the public uncovers the automated world of misinformation. It’s time to reveal the man behind the curtain in the automated revolution.
Course Goal
The goal of this class is to review and analyze the square footage numbers contained in the public records system and its influence over the credibility of automated valuation services, the Multiple Listing Service, and appraisals. The ultimate goal being to investigate the role square footage plays in every home valuation and to highlight the importance of this information that we often take for granted.
Course Objectives
- Learn more about the current information crisis within the real estate industry
- Review the “quality” of the data used by the appraisal industry
- Examine the declining work force
- Illuminate the automated valuations revolution in the mortgage industry
- Think about the quality and credibility of all valuation products if the status quo remains in effect
- Compare the definitions of “quality”
- Shed light on the Golden Rule that is alive and well in mortgage lending
- Probe the buzz word “quality” and how automated valuations are using technology based valuations as a weapon against appraisers
- Take a closer look at how appraisers are shackled by the rules of the 1990’s
- Encounter some of the different names on settlement statements for online valuations
- Study the difference between adjustments in different markets. One size does NOT fit all
- See a brief history of government intervention and discuss the possibilities for the future
- Gain a better understanding of “In-House Loans”
- Expose the wizard behind the curtain in the automated revolution
- Review some interesting facts about the current appraisal industry
- Investigate solutions for improving the real estate information network
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Course Author
Hamp Thomas
Author of “How to Measure a House” based on the ANSI® Guideline; the American Measurement Standard, Death of an Industry-Real Estate Appraisal; Professional’s Dictionary of Real Estate Terms; Size Matters books and online courses; ANSI, Home Measurement, & the Power of Price-Per-Square-Foot appraisal CE course; and the Appraisal Process for Real Estate Professionals CE course. Since 2003, Hamp has promoted the establishment of a “Mandatory” national measurement standard. All real estate professionals must use the same language to create and communicate residential square footage. Until there is a universal agreement on this issue, and all Realtors® are required to be responsible for reporting an accurate square footage total in MLS, all property valuations are at risk (CMA’s appraisals, AVM’s, etc.), leaving home buyers and sellers at the mercy of who determines the size (and value) of their home. In a price-per-square-foot world, one-half of this all powerful formula is created by a hodge-podge of methods across the country. The real estate industry must find a way to join the rest of the standardized world.
Specialties: Certified Residential Appraiser. Residential square footage expert, who has researched public records, MLS, AVM’s, the appraisal industry and big banking for the last ten years. We have an information crisis in the real estate industry and the Golden Rule is alive and well. Appraiser/CDEI/CRS/ABR/GRI/Realtor®. Moore County, NC
