Understanding the Why of the New Appraisal Regulations

Real estate agents and appraisers have long worked in parallel but rarely in harmony. Miscommunication has bred suspicion, frustration, and missed opportunities. With the advent of the new Fannie Mae guidelines, appraisal reports will become more standardized, transparent, and accessible to non-appraisers. This new format will require agents and brokers to provide extensive information for the appraisal. This course describes what agents can do to make this process easier utilizing their MLS. We will try to translate appraisal jargon into plain English. We will highlight the specific reporting changes that impact agents and demonstrates how agents can engage constructively with appraisers while respecting independence requirements.