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What you’re probably wondering is, “What does this have to do with appraisal modernization?” Historically, traditional propertyappraisals have consumed significant amounts of time, contributing to delays in loan processing and frustrating both borrowers and lenders.
Whether you’re a new appraiser or a seasoned appraiser looking to grow your income, you probably want to know, “What appraisal competencies do I need to master in order to maximize my success?” Key appraisal competencies. The more efficient you are, the more appraisal reports you can complete.
It’s important that they are always challenged to learn a new skill, scope of work, property type, or technology. When you motivate your commercial appraisal team and they excel at tasks assigned to them, they add value to the company. They do this through clientrelationships and should be rewarded for it.
Traditional Methods of PropertyAppraisalPropertyappraisals traditionally involved experts visiting buildings to compare them with similar recent sales in the area, known as the sales comparison approach. This method relies on finding comparable properties (comps) and adjusting for differences.
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