For appraisal teams, manually tracking fee splits and commissions is a time consuming and error-prone process. In the age of the bifurcated appraisal, there might be a primary appraiser, a trainee, a data-entry or research assistant and an internal reviewer on a single assignment.
Appraisers know the frustration of repetitive data entry all too well. You get a new appraisal order, and suddenly you're entering the same information into multiple systems - your order management platform, CRM, accounting software
A typical appraisal assignment often has a number of fees and expenses which need to be tracked. For example, the order might have been engaged at a specific fee. But your client needs the order quicker than usual and is willing to pay an 8% rush charge.
Save your spot with Jeff Weiner (CEO of Realquantum, 100% web-based commercial appraisal analysis and report writing software) and Chase Pursley for our second joint-webinar on November 17 where we will be discussing how commercial appraisers can adopt new technology to streamline their operations, grow their revenue and regain their sanity.
As the cliche goes, communication is key. On your team, you may have several people working on a specific appraisal order. For example, maybe there's someone who schedules and manages the assignment, the licensed appraiser, a trainee or two, an inspector and perhaps even a reviewer.
Real estate appraisers and their teams often struggle with managing multiple appointments, deadlines, and inspections. Coordinating schedules and ensuring everyone is on the same page can be a time-consuming and error-prone process.
According to the USPAP Record Keeping Rule appraisers must keep a comprehensive and complete Workfile. In the process of an appraisal, appraisers need to collect any number of files and pieces of information to support their value.
Real estate appraisers and their teams often struggle with maintaining clear communication and tracking changes throughout the appraisal process. This lack of transparency can lead to confusion, errors, and inefficiencies that slow down workflows and impact the quality of appraisals.
In 2012, I started working as an appraiser at a small firm not long after graduating college with a bachelors in Real Estate and completing my Appraisal Institute trainee courses. Luckily our practice offered the flexibility of working from home (well before it was trendy), which was great when we weren't on the road inspecting properties. However, remote work, combined with frequent travel and a growing team, led to some significant challenges.