Appraising in Delaware, the Blog...

August 4th, 2021 11:23 AM

Appraising is a business that includes busy times as well as slower times and it’s always a good idea to have a back up list of “to do’s” for the times when there is a lull in the work coming in. Especially when you have employees working underneath you that are there to help out. You are paying them, usually hourly, and you want to get something out of that. 


The list doesn’t have to be incredibly specific but should give an outline of the most important things to work on and then it can trickle down to the less important stuff that usually won’t get touched by most, if any of your employees, because every slow down picks back up. 


Here are a few things we do around the office when things slow down for us:


  • Checking the accounting and following up on any overdue payments

  • Blogs

  • Updating E&O, coverage, upcoming vacation times and other information with AMC’s 

  • Update email templates

  • Update social media

  • Organize folders

  • Delete/Organize files that are no longer used

  • Clean office area and desks

  • Check in with other blogs to see what peers are saying


Anything that can help things move smoother when the appraisals start rolling in and allow your employees to be an asset to the company are always worth adding to the list. What are some of your back up list items?



July 1st, 2021 11:38 AM

Working with AMCs is not something you can easily get past in the appraisal world these days. Here are a few tips to help you get more requests, better pay and a higher rating with the AMCs that you are using. 


1. Update them Frequently


Being routine in your updates, say for appointments or completing inspections, so that they are always in the know. You can choose to do them at a specific time each day or you can find someone to help you with these (perfect reason to hire an assistant!). Keeping your AMCs up to date will make their lives easier and will help you build a good relationship with them


2. Be Ready to Say Yes


Be ready to take on any report they might send your way if at all possible. 


3. Keep You Work Manageable (Know Your Limits)


Don’t say yes to more than what you can do in a timely manner and don’t make your coverage area too wide. If you take on more than you think you can do you will run yourself thin and your turn times and work will struggle. And, it is much better to have a small area that you cover and can become well versed in rather than a larger work area and you know little about the areas. Also, when you are covering a larger amount of space your appointments will inevitably end up being further and further away from each other, taking time away from you completing the reports. 


4. Respond Quickly and Completely to Revision Requests


Scores will be given out on how many revisions you get and how quickly they are fixed. AMCs do not want to have to continually resend requests for updates. Most of all, be polite and professional when responding. They will thank you for this. 


5. Keep Your Profile Up to Date


Knowing when your insurance/E&O and license update and make sure you let the AMCs know when they change. Also, let them know when you are coming up on breaks/vacations where you will not be available to take on new work. Depending on how many AMCs you work with this can be timely so if you have an assistant have them do the work for you!



Posted in:Appraiser and tagged: appraiserappraisalAMC
Posted by Patti Persia on July 1st, 2021 11:38 AMLeave a Comment

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June 15th, 2021 11:25 AM
Appraisers are looking for an array of things that can help them calculate the overall price of your home. They are there to review everything from the outside to the inside of your home. They may even use other homes in the area to compare to your home to.

The most important parts of the home are going to be the foundation, roof and walls. The simple explanation is that without those three things being in tip top shape a home can become inhabitable quickly. A foundation problem can cause issues with your doors, walls and can lead to settling or further cracking of the foundation. The roof must be in working condition to help prevent leaks, it can also stop the rusting of drains and fireplaces or mold on surfaces of the home.

The size of property will also have an effect on the price of a home. First and foremost, the more land you have the more space you have to a bigger home, which means you have the ability to have more bedrooms and bathrooms in the home. These extra bedrooms and bathrooms can quickly add up. A larger lot also means you have room for additions such as a pool, garage, deck, etc.

Updates in the home will also add equity to the home. These do not need to be time consuming or expensive updates. A simple update to paint jobs, light fixtures, floors, windows or countertops can really impress those who see them. You also don’t want to forget that things like pools, fireplaces, garages and even security systems can increase the price of your home.

A homes location and age are also very important. A safe, central location to schools, beaches and cities are desired. People want to have a home that feels safe to be in, especially when they are a growing family. Being close to desirable areas is also important because people want to be able to get to places such as stores, hospitals and even vacation spots or airports without too much trouble.

When all of these things come together appraisers are able to calculate a fair price for the home you are looking to buy or sell. They must take everything into consideration, the good and the bad. So when you are going into a buying or selling a home it is important to keep all of these things on your radar so you can know where the appraiser will be looking.

I’m not sure that there is an answer specifically for that question. It’s all in what an appraiser  wants to get out of their business. Most of the time appraisers are their own boss, they make  the rules and so they can set certain criteria for when and how they want to work. They are the  rule makers for their minimum bid.  

Now these may be different for each appraiser but for my office we are looking at these things  while making a bid – no matter the type: 

- Scope of Work 

- Who’s the Client? 

- Are they easy to work with? 

- Do we get a lot of work from them? 

- What is our current demand? 

- How far away/Distance to subject? 

- Is there anything complex about the assignment (we tend to stay away from these but  there is certainly a price/time for such assignments) 

- Are they waterfront? 

Again, this is not the end all be all list for our office but it’s the beginning stages of how we  decide what we want to charge. You have to know your worth and don’t be afraid to ask for it.  On the flip side, don’t be afraid to go a little lower every now and then when the work is easy (you know you’ve had homes that were almost identical to a recent report you’ve done at least  once!!). 



Posted by Patti Persia on June 2nd, 2021 11:52 AMLeave a Comment

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May 10th, 2021 11:55 AM

We all own homes of some sort, right? And it’s easy to forget, as an appraiser, that as  homeowners even we get excited about upgrades to our homes that might not have an effect  on the price of our home. We’ve all had those borrowers who want to show us every new  gadget or upgrade they might have – from a new pool to something as small as a new fan.  

It’s true that those may not mean anything to us when we are wearing our appraiser hats but  think back to a fun upgrade you’ve made in your home. Was it new lighting? New paint?  Honestly it can be anything but whatever it was made you happy and gave your home  something new that could bring you joy.  

Our job is to be as even keel as possible when it comes to naming our final price for the home,  but it doesn’t hurt to enjoy the borrower’s happiness for their new upgrade. You might even  get an idea for your own home!  



Think about a time you went to a well frequented restaurant or bar and you had the best  service, what did you do? Probably told a few friends about it and made sure to go back. You  may have even asked for the same person to serve you. Now think about a time when you had  really rotten service, your waiter or waitress was rude, they forgot things, your order was  wrong and overall your experience left you wanting a whole lot more. What did you do then?  You more than likely told everyone you knew, you wrote reviews and asked for the manager  and swore you would never go back.  

We are no different in our appraisal world, especially is we are working with private/personal  appraisals. In our office we do estates, divorces, potential listing prices and a lot more and  while it is always important to make a good impression while working those personal appraisals  are 100% the most important when it comes to good customer service. They are your repeat  customers and they are the ones who will talk about you to friends and neighbors if they ever  need an appraiser.  

Yes, we won’t always get it right and we cannot make everyone happy but when you do the  work comes to you. And if it’s possible, if there is a bad taste left for a client going the extra  mile in talking to them and explaining how you got to your final number can go a long way. It’s  all about taking time and being up front about information.



Posted by Patti Persia on April 26th, 2021 10:59 AMLeave a Comment

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As I’m sure most appraisers have read throughout a multitude of appraising blogs, and we  know in the back of our minds – we are solitary creatures most of the time. We enjoy being  busy, staying in control and outside of the actual inspection we like to keep our contact with  other people to a minimum – at least face to face. It’s our thing you could say.  

This means that on way too many occasions we are running ourselves ragged and end up  turning down work that could be making us more money, improving relationships with AMC’s  and allowing us to do more personal appraisals for word-of-mouth advertisement.

Of course, there are things that come with having employees like vacation time, teaching them  the ropes, insurance, figuring out how you want to be as a boss – the list is endless. But if you  think about the amount of time even just one employee could save you the benefits are  endless.  

Just picture all of the things you could be handing over to someone else. Answering phones,  setting up appointments, handling the data input, following up with clients – it’s another  endless list of small things that add up big time.  

If you are on the verge of deciding whether or not having staff under you is right, this is your  sign. It doesn’t have to start off big, just one person for even just a few hours a day could be  more than enough to take some of the weight off of your shoulders. Allow you time to breathe  and really dig in further to the parts of appraising that you love. 



Posted in:General and tagged: appraiser
Posted by Patti Persia on April 15th, 2021 9:33 AMLeave a Comment

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March 29th, 2021 11:49 AM

The life of an appraiser is almost always buzzing in one way or another. When your job revolves  around homes and what’s considered new or intriguing you are always on the lookout for the  things that catch your eye. Not to mention an outing to the grocery store can double as a time  to stake out comps or get a feel for a neighborhood you might be doing an appraisal for.  

It’s easy to get wrapped up in go, go, go but at some point, you need to take a break. It’s  important to find something you enjoy and give your mind and body some time to just relax,  especially in this market. At least in our area, we are getting so many requests that we are  struggling to find a place to put them.  

So, if nothing else just schedule an hour of “you” time. Take off your appraiser hat and enjoy  your family, friends, or even a night out on the town so that you can come back the next day  ready to push forward.  


Posted by Patti Persia on March 29th, 2021 11:49 AMLeave a Comment

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February 9th, 2021 11:05 AM

 

Could you buy a house for $800? In the 1920s you could, just call Sears for a free catalogue. Do you know any Sears homes?


Posted by Patti Persia on February 9th, 2021 11:05 AMLeave a Comment

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The quick and easy answer is yes they can. I know it may be difficult news to swallow because typically being an appraiser gives you a lot of wiggle room on everything from schedule to fees and even dress codes. It’s a good job to be in if you like to make your own decisions. 


Now this will vary from AMC to AMC and will be a much bigger issue in cities or towns with higher profile people. On average, our appraiser here in Delaware can do as she pleases with her dress code, especially during covid because a lot of the homes are empty or she has been doing a lot of drive by appraisals. We also don’t have a ton of celebrities or billionaires who may require a more professional look here in Delaware, although we do our best to be professional no matter the client. 


The one good thing is that as business owners and the one in control of the appraisals, we can say no if we feel the AMC’s are asking too much. Yes, we may be losing a client or appraisal fee or an AMC depending on how strict the ask is (are they going to ask this every time or was it a one time deal). But there are a ton of AMC’s, local banks and even personal appraisals that will come along. 


So do what feels right to you as the appraiser. If the AMC is asking for a suit and tie and it’s because it’s a high profile individual that will typically mean more work for you in the long run - not just the comfort of choosing your clothes so if you think you deserve more in compensation ask. If you don’t want to do it, just say no.



Posted by Patti Persia on February 1st, 2021 11:06 AMLeave a Comment

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