I am planning to start your online classes soon. I'd like to suggest that you make a playlist of your podcasts containing relevant topics to people who are just starting out. Thank you!
Yes, never a dull moment when performing fieldwork 😅 For me, this has included being greeted by a homeowner, a woman, at the front door clad in a bath towel, to unknowingly getting caught in the middle of a police sting operation while driving comps and having an undercover police officer barricade my car with his plain-looking vehicle and then drawing and pointing his firearm at me through my windshield😮😅 Someday, I will chronicle all my adventures as a field appraiser, in some form or fashion 😂 Thank you for all the informative videos you produce and share with us here, for all the interesting guests you interview!👏🏻
Rocketbook notebooks + app are a great way to substitute field note notebooks. They are reusable and the app digitizes the pages. Then you wipe the pages clean and start over.
I wanted to take a few moments to thank Doug and Julie for this insightful discussion. The concept of dual-value (three-value, multiple-value) appraisals is explored, unveiling a blend of challenges and opportunities for appraisers. This innovative approach, diverging from traditional market value constructs, calls for appraisers to consider both market value and restorative competitive value in their analyses. Such a shift demands a reevaluation of conventional methodologies, ushering in a period of adaptation and growth within the industry. Said more directly, this is an opportunity for appraisers for additional assignments, to parlay their established skillsets into new value constructs, and the best news is they already have a deep skill set that positions them as the best professionals to do this work. It’s like a second scoop of ice cream and you get the charge more for your services. Implementing dual-value appraisal systems introduces hurdles for appraisers, foremost among them being the adaptation to new value definitions, and possibly a refinement to existing methodologies. This may result or underscore the need for specialized training and education. Appraisers must have the knowledge and skills to navigate the intricacies of multiple value definition appraisals effectively. As Doug noted, regulatory and industry acceptance remains a critical hurdle. But frankly, there are already many definitions of market value, fair market value, disposition value, business enterprise value, investment value, etc. that are commonplace. Establishing clear guidelines, standards, and demonstrating the effectiveness and fairness of this approach are pivotal to its adoption and success. Despite these challenges, multiple-value definition appraisals offer a myriad of opportunities, both for individual appraisers and the real estate market. It presents a unique avenue for addressing different value questions from clients than they may have asked for in the past. For appraisers, this offers substantial professional development and assignment opportunities. Engaging with multiple value definition appraisals positions the appraisers as pioneers in ethical and innovative appraisal practices, thereby enhancing their professional stature and marketability. This could lead to additional assignments and fees, allowing appraisers to capitalize on their expanded skill sets and leverage them into new products and services.
Thank you for this topic and great interview! Like Jordan, my main roadblock on this journey is finding a Supervisor who is willing to train me outside of normal hours. I work a full-time job as well, so this is a challenge.
Great conversation, and I understand completely where Jordan is coming from. I’m also an African American male that has just started my appraisal profession here in Tennessee.
Really should be a supervisor for at least part. Nothing can replace seeing properties and learning. 9-10 months while doing a full time job is so much less than someone doing it for 2+ years full time on the road, seeing 100's of houses and experiencing real world scenarios. The students get to witness how they are the scapgoats/whipping boys in the industry where the representation throws them under the bus if they don't cave in to pressure including from the GSEs and the federal government which pressures them to hit contract.
I wholeheartedly agree with the speaker on "don't always blame the appraiser" but going outside the neighborhood for comps to avoid bias may not work- it really depends. Historically, redlined neighborhoods were designed to force people of color to live in areas which were impacted by adverse locational factors like proximity to railroads and/or the city dump. They were banned from wealthy areas in which homes had nice views. Unfortunately these homes are still next to the railway and/or dump and appraisers need to take this into account. As for "restorative competitive value" if politicians see fit to give out preferential benefits to certain segments of the population that is their deal and they will need to answer to their voters. Don't drag appraisers into this!
This guy is all over the place. Most appraisal assignments are for "fair market value". Competitive Restored Value would be a separate appraisal and could be addressed in assignment conditions. The "show home work" is simply the work file which all appraisers should already have that we keep for 5 years. Discussion is more about a portfolio loan program than anything to do with appraisals. What Doug Potts is actually asking for is a valuation of real estate that is above market value for purposes of a specialty loan/rehab loan. Additionally, he is asking for a valuation ABOVE market value plus rehab condition. (He talked about guaranteeing no loss of investment for people purchasing these houses.)
I am a new but educated residential appraiser in Colorado. I have to ask, how specifically can I use my appraisal knowledge to make more money during this mortgage rate crisis? No real demand for mortgage lending appraisals… so where do I turn now? Please don’t say apply to work at the assessor’s office, because that’s not actual appraising. Thank you.
1:12 so what does this mean exactly states that have no licensed trainee program at all would that mean that i can just go straight to certified general then depending on my goal after getting my exact number of field hours?
Hi Ken, good question. Even in states where there is no licensed trainee program, an applicant must still work under the supervision of a certified appraiser and obtain experience hours. They must also complete the required appraisal coursework and pass the exam. It is possible in some states to go directly to Certified General without becoming a Licensed Residential or Certified Residential appraiser first. An applicant should check with their state’s appraiser licensing authority to determine what is permissible in their state.
Someone should have appraised that microphone 🎤 before recording everyone. I still love you Mckissock . By the way where can we buy our mckissock swag? I want a coffee mug
Addendum requests from AMC’s are the real downside. When you spend multiple hours completing a report and have to continue on the next assignment. The AMC sends a list of things they want addressed. When many of these things are already addressed or irrelevant.
I actually wanted to know how Appraiser really help to stable the economy ? by giving a opinion of value banks know how much to lend. even if the bank over lend the money. the borrower will have to payback the amount. so how appraiser really helping in the economy ?
After being a licensed/certified appraiser for 15 years doing residential and commercial property's my opinion in todays environment is "DON'T DO IT". EVERYONE IS OUT TO SUE YOU.
I’ve only been bit once and it was a chihuahua. However I’ve been chased down and cops called on my several times. How can someone own a home and not know that it’s legal to photograph it. I carry Vexor MK-3 spray its always at the ready. Especially nowadays people are getting real stupid. Can’t carry a gun in Maryland because their government is full of commies.
McKissockAppraisal how do i get in contact with all your appraisers from trainee to general my goal is to ask those people questions regarding what education McKissockAppraisal offers each appraiser from trainee to general my end goal is to find the appraiser that is educated to value a new kitchen for a home remodel or a pre construction skyscraper or a pre construction single family residential home and then pursue becoming that appraiser via bypassing the field hours and just focus on the studying courses and any practice test or exams etc.
