This book is going to cover every aspect of the real estate appraisal business. I'm not going to paint some fairy tale, rosy picture or give you any fluff. I'm going to tell it like it is without holding anything back. This book was originally designed to train top-notch, professional real estate appraisers. However, the book is extremely helpful to anyone involved in real estate. This includes a home buyer, homeowner, home seller, Realtor, home inspector, etc. See section Benefits Of Knowledge Of Appraisals to see the reasons why anyone can benefit by knowing this material. A lot of the information in this educational material goes well beyond what's covered in other books. That's why I say it's "the real facts other books don't tell you!"
You may have purchased some of my other books and DVDs. If you have, then you will find that some of the information contained in this book is similar. This is because there are many important aspects that pertain to both the real estate appraisal and the home inspection businesses, as well as, real estate investing. I hope you don't feel that some of the information is redundant. It will only benefit you to read it several times to make sure you know the information well enough so it doesn't cost you time and money later. If you haven't purchased some of our other products, then do it now! I'm serious about that because our products are worth much more than the price we sell them for. Our customers email us all the time to tell us that.
There will be information in this book that you'll find very surprising and enlightening as to the inner workings of the real estate business. I certainly found it surprising when I got involved in real estate. The only problem was I had to find out the hard way. I'm going to tell you about it so you don't have to make the same mistakes that I made. They say a Wise Man learns by his mistakes, but a Genius learns by the mistakes of others. So I'll do the best I can to make you a genius!
I had a strong motivating factor for writing this book in the first place. I wrote it because I think there's a very important need for good, honest and thorough appraisers. I sincerely want people to be more informed about the realities involved with the biggest investment decision they make - the purchase and sale of their home.
I had a strong motivating factor for writing this book in the first place. I wrote it because I think there's a very important need for good, honest and thorough real estate appraisers. I sincerely want people to be more informed about the realities involved with the biggest investment decision they make - the purchase and sale of their own home. There is also a need to improve the integrity and professionalism of the real estate business overall. By being in the real estate business, I've seen firsthand that there are many aspects about it that need to be improved upon. These improvements would be for the benefit of everyone involved, not just appraisers. I hope this book will help increase the integrity and professionalism of the real estate business. If it does, then I will feel that this information provides a much needed service and well worth my efforts.
To get the most benefit, you have to read this book from cover-to-cover. So don't get lazy and cut corners; read everything! You have to read the book enough times until you've memorized enough of the information so you know what you're doing. You can't just read it once and expect to know enough to do a proper and thorough real estate appraisal. You can't "wing it" on an appraisal job because sometimes you'll get a client who asks a lot of questions. If you're fumbling for answers then you'll lose credibility and the client's respect.
This doesn't mean that you have to know the answer to every question the client asks. However, you need to be able to answer the vast majority of their questions. There are times that I tell clients "I don't know" when asked about a particular item. Because I know the answers to the vast majority of their questions, I have the client's respect for being knowledgeable. They realize that I can't be a walking encyclopedia. I just tell them that I will research their question and get back to them with the answer.
Don't expect to make big money overnight in this business, it's not a get rich quick scheme. It takes time to build up a referral business that brings in a lot of money. But don't worry. If you learn this material well enough and keep feeding your mind with new literature and training courses, you can make big money. Your referrals will begin to come automatically, without even advertising. The whole key to making a lot of money on a steady basis is to have satisfied clients. This is the same concept in every profession and not just the real estate appraisal business. Satisfied clients will refer their friends and business associates to you for appraisals. You'll become one of the best and busiest appraisers in your area if your knowledgeable and honest.
You will eventually get to the point when you're doing a lot of real estate appraisals. When you get to this point, don't book more than two appraisals in one day. If you try to do too many appraisals, you'll be rushing to get to the next appointment or you'll be tired before the end of the day. This can cause you to miss something that could create problems later with an angry phone call from your client.
Throughout this book you will see pull quotes and icon keys that will highlight important items. The icon keys are used to highlight important safety issues and "war stories". A war story refers to an actual appraisal or home inspection experience that myself or someone I know has had in the real estate business. I thought you might find these stories interesting and helpful since they can help you to understand the importance of the topics discussed in this book. Sometimes when people read about safety hazards, maintenance issues, market value factors, building department permits, etc., they don't take it very seriously - unless they've actually experienced their own war story concerning that topic! When people read about actual instances of these occurrences they tend to remember the advice easier, as opposed to taking it for granted. This will assist you in learning by actual experiences of other people and not make the same mistakes they did. That will save you time, money, aggravation, and stress. Sometimes it will even save your own LIFE! I hope you find the pull quotes and icon keys to be helpful while reading this book.
= Important Safety Issue
= War Story
In this book, when I use the term "Third Parties" I'm talking about people involved in the transaction, not including you or your client. 90% of the time I'm referring to dishonest and/or incompetent Realtors when I mention "third parties"! Other "third parties" involved in the transaction includes but isn't limited to: the seller, the appraiser, the home inspector, the mortgage lender, the title company, the attorney, the builder or repair contractor, the mailman, the Tooth Fairy, Santa Claus, the Easter Bunny, the seller's dog or cat, and anyone else who may have an interest in the deal. Also, when I use descriptive adjectives and refer to immoral, greedy, dishonest, ignorant, incompetent, etc. Third Parties, it does not refer to all third party people, just those that match the particular adjective used (90% of the time it's the Realtor!!!).
Please send me an email and let me know what you think of this book and any recommendations you might have for improvements or new products. I accept positive and negative comments since both help me to improve the next version of the book. I am always looking to improve my products and services and I greatly appreciate customer feedback and suggestions. Also, you can sign up through our www.nemmar.com Nemmar Real Estate Training web site to receive our free real estate newsletter with articles and product updates that will definitely help you profit in real estate investing.