134 episodes
Real Estate Appraisal Between The Lines Brian C. Lee, Christian Kemp
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4.7 • 16 Ratings
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Brian Lee is an acclaimed real estate appraiser, broker, instructor, and construction expert with over 25 years of experience. He received his bachelor’s degree in Finance and Real Estate from Indiana University. (GO Hoosiers!) After a disappointing attempt at being the next Jedi Master in the latest Star Wars movie, he discovered the "Force" was strong with him as a Real Estate appraiser and speaker.
Brian's knowledge and experience has taken him across the galaxy to train agents on topics including: real estate appraisal, agency, brokerage, business operations, contracts, and investing.
He loves helping agents provide value to their clients by adjusting agents’ perception and knowledge of valuation, CMA prep, and appraisers. When Brian isn’t yapping in front of an audience or assisting agents to achieve real estate mastery, he attempts to keep his wife happy and occasionally makes his kids laugh. (Jedi Mind Tricks don’t work on the strong-minded.)
Real Estate Appraisal Between the Lines is all about helping agents understand the pieces and parts of the valuation process, appreciate why appraisers do what they do (besides make agents mad), and by providing tips to write a better CMA. Tune in every week for a new suggestion and an occasion dig at those pesky valuation experts.
Brian currently resides in the Indianapolis area, where he rides his Harley and builds LEGOs. Make your day legendary!
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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.
BETWEEN THE LINES LINKS
Email
brian@brianclee.com
Web
brianclee.com
Facebook
https://www.facebook.com/groups/realestatebetweenthelines/
https://www.facebook.com/Brian-C-Lee-111822417027919/?
YouTube
https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?
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Tips to Prepare for the Slowdown
Episode 132 - Tips to Prepare for the Slowdown
The slowdown has started. Some of you may have been through this before, but most have not. Are you prepared? You business relies on several pieces that many owners do not take into account. This episode talks about a few items that get missed when you are busy such as budgets, saving, and marketing. There is never a bad time to start any of these. Let’s get on them!
SHOW NOTES
00:50 – Is Brian in the Wizard of Oz? 02:15 – Economic cycles happen, and we can get through it. 03:50 – What have you done to prepare for the slowdown? 04:40 – Are you running your business like a business? 06:25 – Race to the bottom mentality. Don’t drop your rates at the beginning. Look at other avenues first. 08:20 – Weathering the storms requires budgeting, saving, and marketing. 10:00 – Need to have at least 6 months of business expenses and 6 months of personal expenses saved. 12:00 – Always be marketing to new clients. Don’t only market when are slow. Always be selling. 17:50 – Look for the opportunities as the market shifts. 19:20 – What are other appraisers and agents not doing? 20:35 – Join peer groups and hire a coach. 21:30 – Many agents and appraisers will drop out during the slowdown. Stick with it will benefit from a payoff.
SHOW LINKS
Chris with CMP Appraisals - https://www.vabeachappraisals.com/
BETWEEN THE LINES LINKS
Email
brian@brianclee.com
Web
brianclee.com
Facebook
https://www.facebook.com/groups/realestatebetweenthelines/
https://www.facebook.com/Brian-C-Lee-111822417027919/?
YouTube
https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?
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Times Are Changing: Does Down Payment and Concessions Affect Value?
Episode 131 - Times Are Changing: Does Down Payment and Concessions Affect Value?
The past two years have made selling real estate easy. Wait! That was easy, you ask? It was easy for listing agents to negotiate. Times are changing and negotiations are on their way back. Do you know how to navigate them? Make sure to ask the lender how they will address repairs, concessions, and down payment.
The industry is working its way back to normalcy, are you ready?
SHOW NOTES
01:10 – Mark Skapinetz podcast, Contributory Value. 02:30 – Question from an agent: does down payment alter the value and repairs on a property? 05:50 – Buckle up, because the past few years of negotiating has been easy. We are getting back to normal. 08:20 – Cash equivalency and how it can affect the valuation. 11:30 – Appraiser is required to review and analyze the purchase contract. 13:30 – Loan type could affect issues regarding repairs, and condition ratings can also be a problem. 16:10 – Talk to the lender about the loan type, will lender have additional requirements, and how they will deal with contract concessions.
SHOW LINKS
Mark Skapinetz podcast - https://podcasts.apple.com/us/podcast/contributory-value-with-mark-skap-skapinetz/id1494985230
BETWEEN THE LINES LINKS
Email
brian@brianclee.com
Web
brianclee.com
Facebook
https://www.facebook.com/groups/realestatebetweenthelines/
https://www.facebook.com/Brian-C-Lee-111822417027919/?
YouTube
https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?
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Is YOUR Market Increasing?
Episode 130 - Is YOUR Market Increasing?
Headlines and social media are showing all kinds of market changes. Good, bad, ugly – who knows? You do, if you perform your proper due diligence. Don’t quote national and state statistics that are wrong and based upon data that may not be indicative of your local markets. Pay attention to the actual pieces that affect your market and be the expert.
SHOW NOTES
01:40 – Is YOUR market increasing? Talk of inflation, recession, etc. is driving people crazy. What is actually happening? 04:05 – News article about Indiana being the best state to weather a real estate market recession. 05:55 – What data is being used in the statistics? 07:00 – Will agents still claim markets are increasing like they did back in 2006 and 2007? Are you looking at national, state, or local markets? 09:30 – Example of agent looking at all properties for a condo valuation. 11:45 – Watch the number of showings in a market. 12:30 – How many multiple offers are you receiving? 13:00 – Watch the list price to sale price ratio. 14:20 – What are employers doing in your market? Hiring, firing, or laying people off? 14:40 – What are builders doing with buyer incentives and commission to agents.
BETWEEN THE LINES LINKS
Email
brian@brianclee.com
Web
brianclee.com
Facebook
https://www.facebook.com/groups/realestatebetweenthelines/
https://www.facebook.com/Brian-C-Lee-111822417027919/?
YouTube
https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA? -
Be Honest. Do Not Be Disingenuous.
Episode 129 - Be Honest. Do Not Be Disingenuous
We learned in elementary school that honesty is the best policy. It applies to the real estate world too. Work through solutions by being honest with appraisers, lenders, and agents to close the transaction. That transparency may help the other parties find a way to help work out issues. Hiding information, acting in a deceitful manner, or attempting to trick someone will not end well for your client.
SHOW NOTES
02:30 – CMA done for listing should be the same as a CMA for the purchase. 03:55 – Listing at one price, contract price is higher. Listing agent changes list price to match contract price and pends the property. Very deceptive. 07:35 – Describe your definition of an “update” to a property. 09:00 – Real estate professionals can collaborate in some way. Deceitful tactics are not respectful to the other professionals and the real estate community. 11:20 – Work together. We are each a piece of a puzzle that is being put together. 13:35 – When we don’t work together, we look very poor and unprofessional to the public.
SHOW LINKS
Stripes, “Lighten up, Francis.” - https://www.youtube.com/watch?v=iN-aXzpQUdw
BETWEEN THE LINES LINKS
Email
brian@brianclee.com
Web
brianclee.com
Facebook
https://www.facebook.com/groups/realestatebetweenthelines/
https://www.facebook.com/Brian-C-Lee-111822417027919/?
YouTube
https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?
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Who is The Lender Looking Out For?
Episode 128 - Who is the Lender Looking Out For?
Knowing how to protect your client and your business is critical to future success. Learn the steps and the processes the lender uses to underwrite the appraisal for your client, so your client can make informed decisions.
Note: I can’t believe how many times I used the phrase, “Throw them under the bus.” Jeez!! Ha!! -Brian
SHOW NOTES
03:00 – Desktop appraisals, hybrid reports, and waivers. 06:20 – Lenders are making decisions based upon their risk analysis. They are not looking out for the borrower. 08:10 – An FHA appraisal report stays with a property for 180 as of July 2022. 11:35 – Underwriting rules that can affect the appraisal report. 14:55 – AMC, Appraisal Management Company. 17:25 – How do you handle this situation with your clients? 19:45 – Appraisers work with your lenders to poise your business for success and avoid liability. 21:10 – We are all in business and want to make money. Think about what banks are considering when they make money.
SHOW LINKS
Mark Skapinetz - https://atlantapropertyappraiser.com/mark-skapinetz/
BETWEEN THE LINES LINKS
Email
brian@brianclee.com
Web
brianclee.com
Facebook
https://www.facebook.com/groups/realestatebetweenthelines/
https://www.facebook.com/Brian-C-Lee-111822417027919/?
YouTube
https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?
Customer Reviews
Your podcast is a day-brightener, no doubt.
The atmosphere is consistently uplifting and positive, making listeners and guests alike feel immediately welcomed and appreciated.
Best Appraisal Show Out There
Simply put, this show is the best out there when it comes to appraisal and the industry. Brian is the freaking MAN!
The Best!
Brian Lee is THE best there is when it comes to real estate instruction, appraising properties, and helping agents in the real estate community! I owe a lot of my success in real estate to Brian!