The Real Word: Why are there discrepancies in appraisals?
Byron Lazine and Nicole White invite Warren Sumner to discuss the appraisal process, plus Dave Ramsey vs. eXp, and a property website that was awarded a Webby honor.
Recently, Byron and Nicole discussed a HousingWire article that reported on racial discrimination in the appraisal industry, moving on to talk about the errors and discrepancies of appraisal process.
After a barrage of disapproving comments on that episode’s video, this week, the duo brought on appraiser Warren Sumner (who’s also a real estate agent) to continue the appraisal discussion. “If it’s so sophisticated of a process, if it’s so dialed in, why do we have these huge gaps from time to time in different appraisals?” Byron asked.
They also talked about the appraiser-agent relationship. “Real estate’s not a lot of fun right now,” Warren said. “Not with the current market … I just want to see us all kind of work together and respect each other more.”