Agents Doing The Appraiser's Job

Episode 133 - Agents Doing The Appraiser's Job

Desktop appraisals are becoming more prevalent and will only continue to grow in popularity in the lending world. How will this affect appraisers, agents, and your clients? Be ready to kick in some more work to help get that appraisal done, agents. The road ahead looks a little messy.

SHOW NOTES

• 03:00 – What is a desktop appraisal?
• 06:58 – How does the appraiser collect information about the property?
• 10:38 – What if the public information is not correct?
• 12:00 – Fannie Mae will require a floor plan sketch of the property showing interior walls with ingress/egress, interior doors, etc.
• 14:10 – What about liability concerns for agents and appraisers?
• 17:25 – Fannie Mae cares about their risk and their needs. They do NOT care about the borrower or any other party when accepting desktop reports.
• 21:05 – Ask your lenders how they are handling desktop appraisals so you can serve your buyer clients.

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