Newz: Appraisers using ChatGPT,
Appraiser Salaries, PAREA Problems
May 16, 2025
What’s in This Newsletter (In Order, Scroll Down)
- LIA ad: Appraisal Used in Divorce Case – Now What
- The Power of AI Is Not Absolute Using Chat GTP for Appraisers
- Retired Maine Railroad Caboose
- [Updated 2025] What’s the Average Real Estate Appraiser Salary?
- Indemnification Clauses: What Appraisers Should Know
- Treasury yields surge, but Fed rate cut odds decline after U.S.-China tariff pause. Mortgage rates may be poised to rise following de-escalation of tariff tensions
- The PAREA Program: Costly Promises, Empty Support
- Mortgage applications increased 1.1 percent from one week earlier
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The Power of AI Is Not Absolute
Appraisers Using ChatGPT
Excerpts: With the great power of artificial intelligence comes the responsibility to fact-check.
Artificial intelligence (AI), particularly ChatGPT, has captured the attention of professionals across various industries, including residential appraisal. With ChatGPT now reaching more than 100 million weekly users, according to OpenAI CEO Sam Altman, it’s clear that AI is poised to become a mainstay in our digital toolkit.
ChatGPT is an AI chatbot, powered by a large language model (LLM), which can comb through a vast amount of information and generate text in response to a question or prompt. This ability led me to explore its potential in “seeing” and evaluating property photos, which ultimately inspired me to create the RoboRater tool.
There were some early hiccups — and a learning curve — when I began prompting the AI tool to apply Uniform Appraisal Dataset (UAD) quality and condition ratings to what it “saw” in property photos. And then, in November 2023, Open AI introduced a feature allowing pro users to develop a custom generative pre-trained transformer (GPT), which led to a breakthrough. It enabled me, with no coding background, to tailor a specific version of ChatGPT that excels at assessing kitchen quality and condition ratings from photos, complete with insightful supporting commentary.
ChatGPT as a Writing and Public Relations (PR) Assistant
ChatGPT can also be an invaluable writing assistant and PR specialist, especially in sensitive communication scenarios like Reconsiderations of Value (ROV). It can skillfully rephrase blunt feedback into professional, constructive commentary.
Other topics:
Enhancing Clarity in Technical Reporting
Optimizing Appraisal Business Operations
Navigating the Limitations
To read more, Click Here
My comments: This is the most practical article I have read for appraisers using ChatGPT with good appraiser examples. I am going to start using it soon! Tim Andersen, the USPAP expert, recently wrote an article for Appraisal Today using ChatGTP.
AI does not always work out well.
For example. State Bar of California admits it used AI to develop exam questions.
Nearly two months after hundreds of prospective California lawyers complained that their bar exams were plagued with technical problems and irregularities, the state’s legal licensing body has caused fresh outrage by admitting that some multiple-choice questions were developed with the aid of artificial intelligence.
