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The Appraiser Coach Podcast


Listen while you drive to and from appraisal inspections as Dustin Harris, The Appraiser Coach, gives you helpful tips, tricks, ideas, and principles which will make you a better appraisal business owner. Dustin has been a successful real estate appraiser for many years. As the Appraiser Coach, he has made it his life’s mission to teach other appraisers across the country to also succeed and thrive as real estate appraisal business owners. Join Dustin each week as he keeps you informed with the latest in the appraisal profession, interviews movers and shakers, talks to your peers about what is important to them, and shares with you his secrets to incredible success.

May 31, 2017

Dustin has never been shy about his hatred for taking comp photos.  Some think they are a great idea.  It is one thing to think comp photos are good for your personal appraisal business, but do you have to advocate that the rest of us be required to do it too?


johnny
over four months ago

Soon to see this industry go away cause the current group is so under educated or just plain stupid. You drive comps to see if its even there check to see if it needs painting a new roof etc. Is it even a comparable if it just happens to be not a comparable. Have you noticed anything better that has a FSBO sign. And did you effectively factor in Real estate commissions of FSBO and what value effect on your subject? Nope

Bill Johnson
four and a half months ago

Doug, the federal government (You and I / Fannie & Freddie)is already in the business of cutting corners when it comes to liability of home loans. How many millions of homes were refinanced via the HARP program where there was no required appraisal? With appraisal waivers via Fannie & Freddie's new automated system (Day 1 Certainty), again there is no check and balances. To compare a full appraisal report with MLS photos to what is common practice by our government (only to get bigger) is misleading.
Seek the truth.

Scott
four and a half months ago

Comp photos are not necessary and I do it as an obligation like you Dustin. I also rely more on Technology which almost always tells me more. Sure I know where the RR tracks are but I know how close or how far they are from the aerial photos. I hate Driving 10 miles in 6 different directions when I know I am going to be taking a picture of a Driveway. Then the lender has the gall to require that you use the MLS photo also. Make up your mind. Either you want me to take the photo or you want the MLS photos. You mentioned in your podcast that you could make a mistake with a comp that could effect your appraisal. Sure you could, but this is also the reason why we use more than 1 comp. When one comp does not adjust similar to the others then I start looking for the reason, maybe it is something you could tell from driving the comp, or maybe you couldn't and need have a conversation with the listing agent or buyers agent which is way more useful than driving the comps.

Brandon Wills
four and a half months ago

Agree that inspecting comps & taking photos makes for a better report, but so does doing a full inspection & any number of things that are optional. The appraiser needs to be in control of his/her scope of work & be the one deciding if comp inspections & pictures are economically feasible for what the client wants & needs.

Doug
almost five months ago

Your whole podcast today was pretty misleading. What you are advocating is not viewing the comparables from the street. You need to call it this and leave photos out of it. I get that the photos are kinda the issue or else folks could just lie and say that they drove by if they didn't not have to take originals. However, if you want to get anywhere with your quest, then say it plain and simple.

Your argument is not likely going anywhere since none of the feds are probably going to be willing to risk taxpayer money so that appraisers don't have to drive more. Besides, would you be Ok with this if you were loaning your own money? You might say yes in vacuum, but I doubt that you would in practice. You would remember back to a bygone era when your friends might have wanted to set you up on a date and gave you a Glamor Shot of the other person. Then, you would remember about how Glamor Shots were not nearly indicative of what you see with your eyeballs. Then, you would remember that MLS listings (moreso) and the Google Street View edit and massage photos for different reasons and that they are the modern Glamor Shot. Lastly, you would figure out that if you would not date off of a Glamor Shot, why would you loan money off of one?