7-24-20 Newz: Difficult Clients – ANSI sq.ft. Standards Changing – 10 Private Islands

Advice for Working with Difficult Clients

Excerpt: Even if the bulk of your appraisals are fairly cut and dried, and require minimal interaction with a human client, any appraiser will occasionally have to work with a difficult client. The assignment might require you to work with a specialty property that is hard to appraise, or with a client who is personally disagreeable, or exceptionally exacting, or who has an agenda that you don’t understand or can’t go along with. Here are some tips for working with difficult clients. Three of the topics:

– Working with AMCs and banks: Time management

– Working with non-lenders: Expectations management

– Deal with complaints immediately

To read the tips, click here

My comment: Some great, practical tips!! Maybe I will try some of them instead of Firing clients, my most popular option ;>

My motto: Appraising would be great except for the darn clients!!

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Will Big Data Put Appraisers Out of Business?

By Dustin Harris

Although Zillow (and other similar companies) keep their algorithms proprietary, they do give us enough information that we can get a pretty good idea as to where the data comes from. For example, according to Zillow’s own website, “we use public and user-provided data for house attributes, and some areas report more data than others.”

As an appraiser for over two decades, I see a blaring problem here. Very few areas have accurate public information for size, quality, condition, and other important features of houses. As you know, these are features that can dramatically affect an accurate value. This is especially true in non-disclosure states where I work such as Idaho, Wyoming, and Utah. As for user-provided data? This is information coming from places like the home owner themselves. Nothing biased there. If Zillow depends on good data to provide good estimates, the phrase “garbage in – garbage out” comes to mind.

To read more, click here

My comment: Real estate data is overall poor, except for a maybe conforming newer subdivisions. No standardization for public records. MLS data provided by real estate agents. Most data not standardized. That means human appraisers will be needed.

Read more!!