The Appraisal Update
The Appraisal Update is the official podcast of Appraiser eLearning. Join us every week to get an update, a single scenario, a point to ponder – something to consider for your appraisal practice today.
Many real estate professionals have taken precautions during this pandemic as we should, but we need to consider other safeguards to protect our well being on an ongoing basis — especially in the aftermath of an ice storm.
Listen as Bryan shares some close calls, what to avoid, and when to just say no.
Appraisers can do almost anything!
Bryan had a student in a recent class who said he thought only the bank could order an appraisal. A few days later, a listener called Bryan’s office to ask some questions about what she can and cannot do as an appraiser.
Can an appraiser communicate the results of their opinion over the phone? How many hats do you wear? Can you provide valuation services when not acting in the capacity of an appraiser? Listen in as Bryan shines some light on what the many things a working appraiser can do. Although appraisers can’t do anything, appraisers can do almost anything.
SO, you want to be an appraiser. Now What
Bryan sits down with a couple of trainees that discuss how they obtained their trainee license including the classes required to do so and some recommendations for people wanting to become a trainee. They also discussed some of their experiences to date on their journey to becoming a certified appraiser. The conversation ranges from courses taken, hours accumulated, test taking tips and getting stuck in the mud (literally).
Below is the link for The Real Property Appraisal Qualification Criteria issued by The Appraisal Foundation outlining the minimum requirements to become a trainee, supervisor, and certified appraisers. Keep in mind individual states and jurisdictions can have additional requirements exceeding the minimum requirements of the AQB.
You have been a trainee working hard, logging hours, learning all you can, and it finally all pays off – you pass the national exam! You are now a Certified Appraiser.
Now what? Do you have any idea what you are doing? Do you know how to run a business? Are you an appraiser or a business owner or both? At the request of a new listener to the podcast, Bryan reveals the history of his business — and offers ideas to you about how to achieve success.
Does the age-old issue of appraisers vs. agents and vice versa need to change? Agents can provide useful information to appraisers when verifying or confirming data for comparable sales, and appraisers can assist agents in measuring services and appraisals when they are faced with listing the challenging properties. Yet these two groups have traditionally not played together well. Listen in to Bryan’s conversation with Cany Cooke who, like Bryan, is also an appraiser, agent, and educator.
Most things change. If you don’t believe that look in the mirror. Can you as an appraiser impact change? Here is another chance for you to get involved as The Federal Housing Finance Agency, FHFA, had a press release on December 28, 2020 and have a Request For Information (RFI) on Appraisal – Related Policies, Practices, and Processes. The RFI covers four areas related to appraisals:
Listen in to hear more about this important topic(s).
Press Release Link:
Here is a link to the Request For Information from FHFA.
After Bryan’s USPAP class of nearly 50 students, three stuck around to continue the conversation: Ms. Patty Cox is a veteran appraiser of 44 years from a rural town in Nebraska; Mr. Gregory McDonald is from Dallas, Texas, has been appraising residential properties since 1985, and now specializes in rehab work and owner financing; and Ms. Amanda Hobbs, a trainee appraiser in Oklahoma, is about to become an official Certified Appraiser after two years on the job.
These four talk about COVID, busy appraisal times, virtual classes, retirement, the National Association of Appraisers (NAA) and a Christmas wish. As a bonus, behind-the-scenes magic maker, Ben Maxwell, makes a cameo appearance. Listen in to this fun conversation with practicing boots-on-the-ground appraisers.
A conversation with Kevin Melton, whose community had just been devastated by a hurricane, opened Bryan’s eyes to the suffering that comes in the wake of disaster. Bryan vowed to find a way to call on the appraiser community to help fellow appraisers reeling from disasters, both natural and personal. From that idea, the Appraiser Relief Fund was born.
As President of the National Association of Appraisers, Bryan is proud to announce NAA’s commitment to help appraisers in need. Teresa Walker, NAA’s Administrator, sprang into action and established the fund.
To donate to the fund please click the link below:
The National Association of Appraisers – Relief Fund (naappraisers.org)
If you are an appraiser in need or know of an appraiser that needs assistance, please contact Teresa at firstname.lastname@example.org
What did you have for Thanksgiving Dinner? Me, a bologna sandwich along with a little pity party. Although I snapped out of it rather quickly, it prompted me to think of all of the blessings I have to be thankful for and also reminded me of many people who suffer from actual depression and the challenges involved with this disorder.
Globally, more than 264 million people of all ages suffer from depression. There are more than 3 million cases per year in the US of major depressive disorder so please reach out to anyone you know that you suspect may be suffering, especially this year with the pandemic. Lend them an ear, a hand or shoulder and try to get them help. Below are two numbers if you need help or know of someone that needs assistance.
National Suicide Prevention Lifeline: 1-800-273-8255 (TALK)
The Samaritans, a non-profit organization, offer emotional support to anyone who calls feeling lonely, depressed, suicidal, or just are looking for someone to talk to. Whatever the reason, you will get a trained volunteer who offers non-judgmental support. If you’re concerned about someone you care about in your life, they can also help with advice and resources.
You can call or text the Samaritans at any time: (877) 870-4673 (HOPE)
Have you ever been asked to appraise a house with 5 acres when it sits on 40 acres? Can you do it or should you do it? Let us examine USPAP as well as secondary market guidelines on this topic.
Listen in to hear Bryan’s take on this type of assignment request and what action you should take.
How do you measure a house and calculate square footage? How do your peers do it? Are you aware of potential changes coming to ANSI? Size matters! Join Bryan as he discusses this important topic with Mr. Hamp Thomas, Mr. ANSI. Please get involved and submit public comment on your thoughts to the pending changes to ANSI z765.
Public comments are accepted through November 8, 2020 via a web-based forum at https://www.homeinnovation.com/z765.
Contact Hamp Thomas at email@example.com or 910-603-2690.
When I ask an audience or my students what is PAREA and what do they think about it, I rarely hear an answer. It is indeed difficult for any of them to opine on something they know nothing about. PAREA stands for Practical Applications of Real Estate Appraisal and might just be one of the biggest changes in the history of the appraisal profession.
Is it practical for someone to become an appraiser without ever having a supervisor? Listen in as Bryan tries to figure this thing out.
The AQB will hold a Public Meeting on Friday, October 16, 2020.
Have you raised your fee lately? Do you charge more for more work? Bryan had a client try to reduce his fee, but they did offer to pay him more the higher the value opinion. How do you think that went? Listen in to find out.
Bryan uses a real-life experience to demonstrate why you should check guidelines and policies for yourself and not just believe what someone says. They may be messing with you, deliberately deceiving you, interpreting the requirements differently than you would — or they might just be plain wrong.
Host Bryan Reynolds speaks with Kevin Melton, a real estate appraiser in SW Louisiana, about the widespread devastation in the wake of Hurricane Laura, his own personal losses, and the ways people come together to help each other after a disaster.
Bryan is trying to find ways to assist appraisers in need. If you would like to help, contact Bryan directly: 270-302-8866
If you would like to contribute to Hurricane Laura relief efforts, see the following links:
You as the appraiser do the right thing: You appraise the subject property for what it is worth. The opinion of market value is less than the sales agreement. A week later the client or AMC asks you to analyze the new sales agreement. How do you handle this?
Do you do it or just say no? Keep in mind this new agreement was not in place as of the effective date of the appraisal. Listen in as Bryan provides some guidance on this popular (necessary or unnecessary?) revision request.
Have you ever had that call?
You know the one: An angry property owner calls and wants to talk to you about the appraisal you performed on their property. How do you speak to them while still complying with USPAP? Can you resolve the issue? Is it better to just ignore the call, since they are not your client?
Listen to how Bryan handled three different cases involving The Angry Property Owner.
Bryan wants appraisers to stay connected and get involved. Are you connected? Are you involved? Do you really know what is going on with your profession?
Bryan brings in guest “Skap the Appraiser” to get his thoughts and suggestions on this matter.
Bryan is asking appraisers to get involved again. The AQB of The Appraisal Foundation is having an AQB Forum: The Future of Distance Education. Bryan brings in AeL’s Ben Maxwell and Aaliyah Terrell to join the discussion of what appraisal education might look like in the future and to encourage all appraisers to participate in the upcoming forum.
It all happens August 12th, 2020 at 1:00 PM ET. Click the link below to register.
Bryan takes a few minutes to explain how powerful a simple thank you can be and then offers several “Thank You” comments to the appraisal community. He also updates his listeners on ANSI 2765 2020 and how interested parties can get involved.
Get involved! You can make a difference.
Are you ready for the change that’s coming? Bryan Reynolds and his guests, John Dingeman and Hamp Thomas, explore possible changes coming to the ANSI Guide as we know it. Are they good or bad?
To attend the meting, please email firstname.lastname@example.org and ask them for the meeting credentials. Again, THIS IS OPEN TO THE PUBLIC. Get involved!
Bryan Reynolds got a question in the mail about whether a trainee should sign an appraisal report or just be listed in an addendum. Listen in to hear the answer and more.
When a manufactured home has vinyl skirting, what’s FHA’s policy on how to deal with that? Host Bryan Reynolds called HUD to get a little clarity.
Host Bryan Reynolds shares a story about a great restaurant meal, where everyone executed their roles flawlessly. Why not run your appraisal firm like a well-organized commercial kitchen, with everyone playing as a team?
Bryan Reynolds hosts a discussion with Julie Jones about appraisal options, Fannie Mae and Freddie Mac extending deadlines, and other appraisal issues in the Covid era.
Host Bryan Reynolds makes a strong case for adopting new technologies for collecting information, preparing reports, and sending them to your customers.
Host Bryan Reynolds speaks with Mike Holzheimer, editor of Valuation Review, about the need for appraisers to come together and exchange ideas, whether in person or virtually.
In response to a webinar guest’s comment, host Bryan Reynolds explains the difference between a bifurcated and a hybrid appraisal report, and when a bifurcated report would be appropriate.
Host Bryan Reynolds talks to three ex-business associates about current Covid-19 measures they’re taking and the pros and cons of taking on trainees and unlicensed assistants.
After a live virtual seminar, host Bryan Reynolds asked three seasoned residential appraisers to stay after class and chat about the state of residential appraisal in the pandemic era. Justin Gentry of rural northern CA, Carrie Lloyd from near Flint, MI, and Lisa Wilson of Charlotte, NC talked about what lenders in their areas were requiring in terms of desktop, drive-by, and full inspections — and the ways they expect the industry to change after all this is over.
Host Bryan Reynolds shares a few insights about how appraisers, in their reports, can be more transparent about their observations.
After a live virtual appraiser course, Bryan Reynolds spoke with three attendees about how clients and appraisers are adapting their work practices to the pandemic. Thanks to Tiffany Diamond of Mississippi, Carol Huffman of Arkansas, and Hannah Gossett of Kentucky for sharing their thoughts.
I had a bit of a difficult time with this podcast. We like to think we’re invincible, immune, unaffected, but that’s silly. We are, at the end of the day, all vulnerable. This chat with my long time friend and partner, Bryan Reynolds, brought that realization home, in stark reality and made it tangible and personal.
People, we damn near lost Bryan. Please give this podcast a listen. I’ve posted it here, largely unedited. This podcast is the epitome of authentic.
Partner Appraiser eLearning
Could you appraise your mom’s house? Can you base your fee on an appraised value? Or a listing price? Host Bryan Reynolds discusses these and other ethical questions appraisers face under The Ethics Rule.
Host Bryan Reynolds discusses the deceptively complicated problems that arise when measuring a house. Where should you start? What are the recognized techniques for measuring odd spaces?
Bryan will also be announcing an upcoming special edition webinar on measurement standards, in which we’ll be discussing proposed changes to the ANSI Standard and what they mean to YOU- the everyday practicing appraiser.
A common sense discussion of comp photos: what’s acceptable, what’s not, and where to draw the line. Listen as Bryan Reynolds reflects on comp photos from the perspective of appraisers, agents, lenders, and AMCs.
Can you accept an assignment you’re not competent to perform?
As an appraiser, there are lots of things you CAN do, but is there really an exception to the competency rule in USPAP? How does the question of ethics play into this? Host Bryan Reynolds discusses this popular topic, including some of the gray areas of appraisal assignments.
Where are we going in the appraisal industry, and how can we prepare for it?
Host Bryan Reynolds bumped into Craig Morley, president of the National Association of Appraisers, in Charleston, SC. Listen in as they discuss the future of appraisals, and how appraisers can stay relevant in a rapidly changing field.
Have you ever thought about adding a trainee?
For trainers, the pro side is that you’ll have the opportunity to be a mentor. But the challenges are clear: It’s time consuming and expensive, and the payoff is uncertain.
What about the pros and cons for trainees? How uncertain is the outcome for appraisers in training? Are the barriers to entry too high for people looking to get started in the profession?
Listen in as Bryan Reynolds talks with his newest appraiser trainee, Matt Damin, about the expectations and challenges he’s faced as a professional hoping to change careers.
Quit throwing darts … and stop guessing at adjustments. Although you are entitled to your opinion, as an appraiser, what recognized technique(s) are you using? How do you support your opinions?
Listen as Bryan Reynolds and George Dell discuss best practices for using recognized techniques to support your adjustments.
Host Bryan Reynolds reviews USPAP requirements for analyzing prior listings and sales of a subject property and comparables.
In this followup episode, our host Bryan Reynolds reviews the USPAP reporting requirements for hypothetical conditions and extraordinary assumptions.
Host Bryan Reynolds discusses extraordinary assumptions and hypothetical conditions, two of the most confusing concepts for appraisers to master. Reynolds defines the terms and the basics requirements, and goes on to clarify the differences between them
On the most family-focused American holiday of the year, Bryan Reynolds reflects on the pressures of the job, the importance of taking time for the people we care about, and the things he’s grateful for.
Host Bryan Reynolds speaks with Bobby Crisp, a certified residential appraiser in San Antonio with 28 years of experience. Crisp is also a certified USPAP instructor. In this episode, Reynolds and Crisp talk about ways solo appraisers can find help from their colleagues when they’re stuck on a complex assignment.
Host Bryan Reynolds speaks with Sarah Young, VP of Reverse Mortgage Operations and manager of underwriting and lending at Resolute Bank, about the appraiser-underwriter relationship. Young discusses common problems with appraisal reports and offers tips for how appraisers can avoid requests for revisions.
Host Bryan Reynolds sits down with Mike Dunn, vice president of client relations at Equity Solutions, to discuss the love-hate relationship with AMCs. Brad Bullard adds to the discussion with his knowledge from years of boots-on-the-ground experience as a certified residential appraiser in Michigan.
Laurie Egan, founding member and past president of the National Association of Appraisers, talks to host Bryan Reynolds about the common question: Why should I bother joining organizations like the NAA?
Residential appraisers: Why waste your resources delivering clients a full report — a product they may not actually even want — when what they’re looking for is *the appraisal* …i.e. the number itself? Here’s Bryan Reynolds’s full report on appraisal reports, and how best to communicate the results of our analysis to different homeowners with different needs.
Host Bryan Reynolds speaks with Jeff Bradford of Bradford Technologies about how appraisers can work more efficiently by playing as a team — and tapping into other people’s skills and knowledge.
At the ATA in Austin, Texas, Bryan Reynolds catches up with Lamar Ellis—AKA “The Drone Guy” — in mid-flight. As president of Drone Education Services, Ellis discusses innovative ways to bring drone technology into real estate practice —without falling afoul of the FAA.
Host Bryan Reynolds talks with veteran real estate pro and instructor, Candy Cooke. She’s founder of Cooked Real Estate, a Facebook online community popular with real estate agents, brokers, and appraisers looking for a network of supportive colleagues.
Host Bryan Reynolds speaks with Brandi Dunagan, an appraisal trainee in Texas, about getting started in the field and the importance of supportive professional organizations.
What really defines a bedroom? What is a ‘half bath’? Says who? Tune in to see what FHA and Fannie Mae have to say as our host Bryan Reynolds discussed bedrooms and bathrooms.
Are you selling yourself too cheap? Do you know what you’re worth? Your host Bryan Reynolds talks about how to value your time, like a professional.
What do you do when you get a bad feeling about entering a home? Have you ever not felt safe with the occupant(s) of a house? See evidence of suspicious activity that made you feel like your safety was compromised?
Bryan Reynolds discusses some scenarios in this week’s podcast where personal safety had to be taken into consideration when taking on appraisal work.
What do you do with a flying saucer? How do you even begin to measure a flying saucer? How do you handle unique properties? Melissa Bond, appraiser and educator from Mississippi, joins guest host Hal Humphreys to chat about best practices for appraising unique properties. Why you might consider taking that one off assignment and develop a niche for unique homes.
Guest host Hal Humphreys chats with Melissa Bond, appraiser and educator from the deep south in Mississippi. We’re talking today about appraiser safety. We’re out there in the field every day, inspecting, measuring, interacting with property owners. Sometimes those property owners are not happy to see us. In this episode, Melissa shares some best practices for safety.
Bryan Reynolds is joined by Mark Buhler to discuss the complexities of “Green” valuations- how do you value green, energy efficient homes and solar panels? What do appraisers need to be aware of when valuing homes with green systems and features? Join Bryan and Mark for this discussion and learn something new about “Green valuation.”
Bryan Reynolds chats with Hal Humphreys about investigations. Hal is a Certified Fraud Examiner and a Certified General Real Estate Appraiser. He’s investigated hundreds of cases. Find out what he has to say about what to do if you end up under investigation.
What do you do when you get sued? How should you respond to a subpoena? What do you do when you get a complaint filed against you? Join Bryan Reynolds, your host, as he quizzes Craig Capilla, attorney with the Franklin Law Group, about how to handle those troublesome times.
We chat with John Brenan, of The Appraisal Foundation, about USPAP and the industry in general. Tune in and hear what Mr. Brenan has to say about the state of the industry. This episode was recorded live at the Appraisers Conference and Trade show, an annual conference hosted by Appraiser eLearning and the National Association of Appraisers.
What is an appraisal conference? Have you attended one? Should you? Bryan Reynolds, you host, visits with Craig Morley, acting president of the National Association of Appraisers, to discuss the ACTS Conference. Appraisers Conference and Trade Show. This interview was recorded live at the Second Annual ACTS Conference in Salt Lake City, UT. Give a listen and learn why you should be involved in your local appraiser coalition and how you can benefit from attending the next ACTS Conference.
Ever had a hard time finding that third comp? You got two great sales but just can’t find the third one to fit the parameters. What do you do? Do you make one up? Do you leave it out? Tune-in and learn some ways to deal with limited sales data.
What is it going to take for appraisers to be considered professionals? Today we operate in a business, but sooner than later – if we play our cards right – we can be seen as professionals. Professionals, not tradespeople or just business people.
How much detail do you need to go into when reporting your observations? How do you report a minor flaw when it doesn’t affect the three ‘S’s – safety, security, and soundness? A leaky faucet, small crack, holes in the window screen – don’t all screens have holes?
Join Bryan Reynolds, of Appraiser eLearning, as he chats with “Billy,” an appraiser who had a complaint filed against him. Not only did Billy overcome the complaint. It was 100% dismissed. He then sued the complainant and got a settlement. So, it’s possible to no only overcome the bullying but to come out on top.
This episode is a must listen for all appraisers. We put ourselves out there on a daily basis. It’s nice to know that when we do good work, we can beat the ill-tempered bullies of this world.
In this episode of The Appraisal Update, Bryan Reynolds chats with Jim Park the executive director of The Appraisal Subcommittee (ASC). Join Bryan and Mr. Park as they discuss the state of the appraisal industry, where we are and where we’re going. This episode is a little longer than normal, but we thought the content was useful and important.
Bryan Reynolds chats about highest and best use and ways we might consider this foundational appraisal issue. How do you address issues of adaptive reuse? How do you deal with a property that’s unique? HABU isn’t always a foregone conclusion. Listen to Brian talk about the ways to consider this section of the appraisal, one of the most overlooked – yet most important parts of the process.
Take the time to build your toolbox with ways to make money. Don’t avoid jobs just because you have a notion that it’s outside of your normal appraisal practice. You can work as a consultant. We suggest you do when you get the opportunity.
Join us for this episode of The Appraisal Update and discover another tool for your money-making toolbox.
Have you ever had a client follow you on your heels during an inspection? Do you ever think that they are trying to steer you away from something they don’t want you to see? Can you trust what they say when asked tough questions about their home? AeL’s Bryan Reynolds discusses a situation he found himself in when inspecting a less than dry basement.
In what scenario would you choose to not inspect the interior of a property? What does USPAP have to say about it? Join Bryan Reynolds as he discusses a situation he was recently in where he had to deal with that question.