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Question

do real estate appraisal trainees usually ride shotgun in the appraisers car?
just wondering if an appraiser lets his trainee ride shotgun, or has him or her follow behind in their own car. Also, if you are training under an appraiser who works for an appraisal company, do you spend time at the office of the appraiser, or is your trainee business strictly with your appraiser?

Posted by groovybunny24 on 01/25/08
Total Answers: 4

Answers-

I doubt you ride in their car, the insurance liability would be pretty high.

Answer posted by Landlord on 2008-01-25 15:06:22

wow I'm surprised there is any real training that actually takes place! Every time ( and I literally mean every time) I dealt with an appraiser they do very little in terms of observation and examination. Their visit is less than 10 minutes.....and ironically enough...the value they give is always the same as at the court house records....even though there may have been significant improvements. In other words...it appears to me they just go and look up the value, and then bill out an outrageous amount of money for doing, as far as I can tell...absolutely nothing.

Answer posted by Doran P on 2008-01-25 15:09:13

Most of the work an appraiser does is research on the computer or at the recorder's office. The course of study includes lots of book work. As far as whether you ride in their car or follow behind, that's going to be pretty much up to the trainer.

Answer posted by youradvisor13 on 2008-01-25 15:16:24

Arrival is based on an agreed upon method. Insurance is no more an issue than it would be for friends or relatives. How and where you interact with your "trainer" is typically between yourselves, but may be mandated in larger offices. Inspections of typical residential properties generally take no more than 5 to 10 minutes inside and 5 to 10 minutes outside, if you actually know what you're looking for. Obviously, you can spend a longer period if you're so inclined and your schedule accommodates it. The inspection is the "easy" part. The actual work comes in establishing and supporting value, which the borrow doesn't see and which is also most time-consuming. Additionally, they also don't consider your operating costs. In today's climate (as it should have always been), if you can't deliver a report which is supportable in underwriting, it doesn't matter who you are or whether or not you spent the night at the property. If you're just entering the profession, insist on working with a professional and not a "form-filler" (for your own namesake and longevity). If it was as easy as "Doran" makes it out to be, everyone would be doing it and becoming wildly rich. Best of luck.

Answer posted by LandMark Valuation on 2008-01-26 09:02:48

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