AUTHOR: Patrick Egger is a Certified General Appraiser located in Las Vegas, NV. He teaches continuing education classes on the housing market, appraisal issues for real estate agents and appraisers. Click on Outside The Boxes for a collection of Patrick's articles on Appraisal Scoop!
In the The Right Start I talked about a few "what ifs" and my grand scheme to change things. The real questions for many appraisers was "is this doable" and if so "why should I as an individual get involved"? Essentially, what’s in it for me since it will take a lot of "collective effort" to get it going along with perseverance and patience.
It doesn’t take much of an imagination to conjure up a "few perks" that "the association" may yield but to satisfy idle curiosities, here are a few things to think about.
While we have public non-disclosure rules, what are the rules for a shared database via a professional association?
- Could key data from appraisals be shared among members of the association?
- Would verified data in non-disclosure and disclosure states make a difference in your everyday work?
- What other information could be shared such as market graphs, map mash-ups (see Windows Live Maps) with data overlays for neighborhoods where members could link and share map data, builder brochures, hazard locations, etc.?
Does a national level database make sense?
If say, 25,000 appraisers join "the association" and contribute data, maps, etc., are there users outside of the association for parts of these products?
- Verified sales data base.
- Shared graphs on neighborhoods trends, etc.
- Market reports sold to real estate agents.
- Real estate maps with hazard layers, neighborhood information, graphed trends, etc.
There are many websites providing market data that is misleading. Does a "realty reality" based website make more sense to those looking to finance purchase or sell a home?