Understanding the Real Estate Appraisal Process: A Deep Dive with Experts Josh Stephens and Chris Green

In this riveting episode of the Texas Real Estate & Finance Podcast, your host Mike Mills is joined by Joshua Stephens and Chris Green to delve into the dynamics of real estate appraisals. Learn about the differences in appraisal businesses, the structure of their medium-sized firm and the unique talents that contribute to their success. The conversation touches on the mechanics of appraisal models, the appraisal fee structures and highlights the challenges rookie appraisers face. More importantly, the trio discusses the ills of biased appraisals, reiterating their commitment to standardizing processes for consistency and quality. Discover the intricacies of appraiser training and the importance of engaging diverse individuals in the appraisal industry. The episode wraps up with discussions about institutional buying, housing market stability and the impact of market trends on appraisals as well as residents. Pitch in for this insightful dialogue and get a comprehensive view of the real estate appraisal business.

**Topics Discussed:**

1. Overview of the Real Estate Appraisal Business

2. Structure and Success of Medium-sized Appraisal Firm

3. The Mechanics of Appraisal Models

4. Fee Structures for Appraisers

5. The Challenges Faced by Appraiser Trainees

6. Partnership with Fannie Mae and Training of New Appraisers

7. Impact of Market Trends on Appraisals

8. The Role of Institutional Buyers

9. The Increasing Housing Costs and its Impact