Want to know the real estate appraiser tools? This write-up is about the tools which the appraisers need can’t work without and why do I need a real estate appraiser.
Without real estate appraisers, I can’t locate houses in my city at the right prices. The real estate appraiser role is very crucial when someone wants to sell a property and intends to know what the property is worth so that they learn how to price the home. Appraisers provide complete comparative analysis about flats for rent or sale. They will assist me in finding rental houses, commercial property, and property foreclosure information.
3 BASIC REAL ESTATE APPRAISER TOOLS
Once I have my certified appraiser license, here are 3 real estate appraiser tools I should have to assist me with my job as a real estate appraiser.
Appraisal Software
Appraisal software is mandatory. It’s industry standard and there’s no other way to complete summary reports for federally related transactions. Such as, the FNMA 1004, 1025, and 2055 are a few forms. Essentially the software enables me to input thousands on these and a thousand other types of standardized forms. I will also use it to add my photos, complete the sketch, location, flood maps, and any other addenda. There are a lot of companies that provide this software, such as Appraise-It by SFREP, A la Mode, Inc., and WinTotal.
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A Vertical Screen Setup
As the appraisal report forms are legal size, projecting them on a vertical screen allows me to view them in their entirety. I find it more convenient to complete and review. Luckily, I have a wide 24′ Acer monitor that used to be on a fixed stand. But I also bought a rotating Dell monitor stand, carefully drilled 4 holes, and affixed it to my Acer screen to achieve the functionality I want. It’s the perfect of both worlds. When I’m jotting down reports I turn it vertical. When I require a wider screen for web research, I turn it horizontal. If you also want the same setup and must not be very handy, I suggest purchasing a Dell monitor with a rotating stand.
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Business Cards
This one real estate appraiser’s tool is pretty obvious. Although most of the appraisers will work from the respective banks, attorneys, AMCs, and other government entities. There will be a time when individuals need to hire me for non-lending purposes. Leaving my card after my inspection is just one more potential referral and it could be that landlord, or his brother, neighbor, etc.
But another cause for carrying business cards is when I’m driving by comparable properties and clicking photos. In areas of high home break-ins, people are very peculiar, protective, defensive, and suspicious. Stopping in front of their home and clicking a picture is a suspicious activity and they may not leverage me if I’m are a real estate professional taking a photo of the home they just brought last month or 6 months ago. They may confront me, so having my business card is good identification to prove that I’m are who I say and doing what I say (and it could be another referral!).
The same applies if I were pulled over by the police due to a call of suspicious activity. Mostly I prefer to take photos during the workday when the majority of people are at work or running errands.
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*According to ziprecruiter.com in October of 2021. The median income for appraisers of real estate in October of 2021 per payscale.com was $84,827.