The best way to review appraisals
Take 5 minutes to learn: 1. What commercial reviewers get right 2. Biggest hurdle – reviewers appraising the property 3. The importance of “nailing the subject” 4. Solution-focused reviews 5. Relationship between the subject and the market
Frictionless appraisal department
Friction can be defined as, “Conflict or animosity caused by a clash of wills, temperaments or opinions.” For those responsible for valuation in banks, the most obvious potential friction is lender pushback. Depending on the bank, many lenders really have no idea about the valuation. They just want to get their deal done. That can […]
Constantly inundated by questions
Those responsible for appraisals in banks are busy. Very busy. Long hours for many. A typically week might include different people wanting different things from you. They’re asking lots of questions. Lenders – “Why did the value come in so low?” Reviewers – “The appraiser is being uncooperative, what do you want me to do?” […]
Avoid Buyer’s Remorse
As the chief appraiser, it feels easier to make a business case to go with the established appraisal workflow provider’s new software platform. Moving from an old platform to a new platform within the same company. Makes perfect sense, why wouldn’t you? It’s the path of least resistance, right? Expect More, Much More Myth 1: […]
How to Hire the Best Appraisers, Every Time
You have an approved appraiser panel with active state certification licensing and E&O. That’s all your appraisal department needs to have the best appraisals and reviews, right? Probably not. To receive the very best appraisals for your department, you need the right appraisers doing the right property and in the right location. Consider these three […]
Manage Lender Expectations
As the appraisal manager or chief appraiser, you might be asking yourself: Can having metrics improve the relationship between lending and credit? What’s the best way to identify time gaps during the loan approval process? Can I get the reports I need? Having an appraisal workflow platform that provides reporting is that tool. Building a […]
