Real Estate Between The Lines

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Brian Lee is an acclaimed instructor, appraiser, broker, speaker, and construction expert with over 25 years of experience. He received his bachelor’s degree in Finance and Real Estate from Indiana University. (GO Hoosiers!) After a disappointing attempt at being the next Jedi Master in the latest Star Wars movie, he discovered the "Force" was strong with him as a Real Estate speaker. Brian's knowledge and experience has taken him across the galaxy to train people on topics including: real estate appraisal, agency, brokerage, business operations, contracts, and investing. He loves helping agents learn "what they didn’t know they needed to know" to turn their clients into raving fans. When Brian isn’t yapping in front of an audience or working his agents to achieve real estate mastery, he attempts to keep his wife happy and occasionally makes his kids laugh. (Jedi Mind Tricks don’t work on the strong-minded.) Brian currently resides in the Indianapolis area, where he works tirelessly to turn agents into Legends. Make your day legendary!

Brian C. Lee, Cate Waggoner-Lee, Christian Kemp


    • Oct 25, 2022 LATEST EPISODE
    • every other week NEW EPISODES
    • 21m AVG DURATION
    • 134 EPISODES


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    Latest episodes from Real Estate Between The Lines

    Episode 133 - Agents Doing The Appraiser's Job

    Play Episode Listen Later Oct 25, 2022 23:10


    Episode 133 - Agents Doing The Appraiser's Job Desktop appraisals are becoming more prevalent and will only continue to grow in popularity in the lending world. How will this affect appraisers, agents, and your clients? Be ready to kick in some more work to help get that appraisal done, agents. The road ahead looks a little messy.   SHOW NOTES 03:00 – What is a desktop appraisal? 06:58 – How does the appraiser collect information about the property? 10:38 – What if the public information is not correct? 12:00 – Fannie Mae will require a floor plan sketch of the property showing interior walls with ingress/egress, interior doors, etc. 14:10 – What about liability concerns for agents and appraisers? 17:25 – Fannie Mae cares about their risk and their needs. They do NOT care about the borrower or any other party when accepting desktop reports. 21:05 – Ask your lenders how they are handling desktop appraisals so you can serve your buyer clients.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 132 - Tips to Prepare for the Slowdown

    Play Episode Listen Later Oct 11, 2022 24:39


    Episode 132 - Tips to Prepare for the Slowdown The slowdown has started. Some of you may have been through this before, but most have not. Are you prepared? You business relies on several pieces that many owners do not take into account. This episode talks about a few items that get missed when you are busy such as budgets, saving, and marketing. There is never a bad time to start any of these. Let's get on them!   SHOW NOTES 00:50 – Is Brian in the Wizard of Oz? 02:15 – Economic cycles happen, and we can get through it. 03:50 – What have you done to prepare for the slowdown? 04:40 – Are you running your business like a business? 06:25 – Race to the bottom mentality. Don't drop your rates at the beginning. Look at other avenues first. 08:20 – Weathering the storms requires budgeting, saving, and marketing. 10:00 – Need to have at least 6 months of business expenses and 6 months of personal expenses saved. 12:00 – Always be marketing to new clients. Don't only market when are slow. Always be selling. 17:50 – Look for the opportunities as the market shifts. 19:20 – What are other appraisers and agents not doing? 20:35 – Join peer groups and hire a coach. 21:30 – Many agents and appraisers will drop out during the slowdown. Stick with it will benefit from a payoff.   SHOW LINKS Chris with CMP Appraisals - https://www.vabeachappraisals.com/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 131 - Times Are Changing: Does Down Payment and Concessions Affect Value?

    Play Episode Listen Later Sep 27, 2022 19:13


    Episode 131 - Times Are Changing: Does Down Payment and Concessions Affect Value? The past two years have made selling real estate easy. Wait! That was easy, you ask? It was easy for listing agents to negotiate. Times are changing and negotiations are on their way back. Do you know how to navigate them? Make sure to ask the lender how they will address repairs, concessions, and down payment. The industry is working its way back to normalcy, are you ready?   SHOW NOTES 01:10 – Mark Skapinetz podcast, Contributory Value. 02:30 – Question from an agent: does down payment alter the value and repairs on a property? 05:50 – Buckle up, because the past few years of negotiating has been easy. We are getting back to normal. 08:20 – Cash equivalency and how it can affect the valuation. 11:30 – Appraiser is required to review and analyze the purchase contract. 13:30 – Loan type could affect issues regarding repairs, and condition ratings can also be a problem. 16:10 – Talk to the lender about the loan type, will lender have additional requirements, and how they will deal with contract concessions.   SHOW LINKS Mark Skapinetz podcast - https://podcasts.apple.com/us/podcast/contributory-value-with-mark-skap-skapinetz/id1494985230   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 130 - Is YOUR Market Increasing?

    Play Episode Listen Later Sep 13, 2022 17:49


    Episode 130 - Is YOUR Market Increasing? Headlines and social media are showing all kinds of market changes. Good, bad, ugly – who knows? You do, if you perform your proper due diligence. Don't quote national and state statistics that are wrong and based upon data that may not be indicative of your local markets. Pay attention to the actual pieces that affect your market and be the expert.   SHOW NOTES 01:40 – Is YOUR market increasing? Talk of inflation, recession, etc. is driving people crazy. What is actually happening? 04:05 – News article about Indiana being the best state to weather a real estate market recession. 05:55 – What data is being used in the statistics? 07:00 – Will agents still claim markets are increasing like they did back in 2006 and 2007? Are you looking at national, state, or local markets? 09:30 – Example of agent looking at all properties for a condo valuation. 11:45 – Watch the number of showings in a market. 12:30 – How many multiple offers are you receiving? 13:00 – Watch the list price to sale price ratio. 14:20 – What are employers doing in your market? Hiring, firing, or laying people off? 14:40 – What are builders doing with buyer incentives and commission to agents.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?

    Episode 129 - Be Honest. Do Not Be Disingenuous.

    Play Episode Listen Later Aug 30, 2022 15:53


    Episode 129 - Be Honest. Do Not Be Disingenuous We learned in elementary school that honesty is the best policy. It applies to the real estate world too. Work through solutions by being honest with appraisers, lenders, and agents to close the transaction. That transparency may help the other parties find a way to help work out issues. Hiding information, acting in a deceitful manner, or attempting to trick someone will not end well for your client.   SHOW NOTES 02:30 – CMA done for listing should be the same as a CMA for the purchase. 03:55 – Listing at one price, contract price is higher. Listing agent changes list price to match contract price and pends the property. Very deceptive. 07:35 – Describe your definition of an “update” to a property. 09:00 – Real estate professionals can collaborate in some way. Deceitful tactics are not respectful to the other professionals and the real estate community. 11:20 – Work together. We are each a piece of a puzzle that is being put together. 13:35 – When we don't work together, we look very poor and unprofessional to the public.   SHOW LINKS Stripes, “Lighten up, Francis.” - https://www.youtube.com/watch?v=iN-aXzpQUdw   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 128 - Who is The Lender Looking Out For?

    Play Episode Listen Later Aug 16, 2022 23:35


    Episode 128 - Who is the Lender Looking Out For? Knowing how to protect your client and your business is critical to future success. Learn the steps and the processes the lender uses to underwrite the appraisal for your client, so your client can make informed decisions. Note: I can't believe how many times I used the phrase, “Throw them under the bus.” Jeez!!  Ha!!  -Brian   SHOW NOTES 03:00 – Desktop appraisals, hybrid reports, and waivers. 06:20 – Lenders are making decisions based upon their risk analysis. They are not looking out for the borrower. 08:10 – An FHA appraisal report stays with a property for 180 as of July 2022. 11:35 – Underwriting rules that can affect the appraisal report. 14:55 – AMC, Appraisal Management Company. 17:25 – How do you handle this situation with your clients? 19:45 – Appraisers work with your lenders to poise your business for success and avoid liability. 21:10 – We are all in business and want to make money. Think about what banks are considering when they make money.   SHOW LINKS Mark Skapinetz - https://atlantapropertyappraiser.com/mark-skapinetz/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?

    Episode 127 - Change Your Mind

    Play Episode Listen Later Aug 2, 2022 17:31


    Episode 127 - Change Your Mind Brian is back!  What frustrates you may just be yourself. Open yourself to hearing other opinions and change your mind about your ingrained attitudes. The only way to effect a change is to have an understanding of the entire issue. Whether it be personal, business, appraisal, social issues, or anything, the only person you can change is yourself. Do that and find more happiness and success.   SHOW NOTES 00:30 – I'm back. 01:00 – THANK YOU to everyone that reached out and supported me. 02:15 – The podcast has focused on agents. Will continue to do so, but will give a voice to appraisers, lenders, and anyone else out there to be part of the “conversation”. 04:15 – Change your mind. Song by Sister Hazel. 08:15 – Open yourself up to other viewpoints. 09:35 – Agents: appraisers have a viewpoint. Don't be mad, bitter, and ignorant. 11:05 – Appraisers: so many changes can bring you down but change your mind and be open to what is happening. 13:40 – Lenders: there is more than the underwriting overlays and the “black and white” book. 14:30 – Open your way of thinking to someone else. 15:15 – If you want to be a better agent, appraiser, businessperson, spouse, etc. listen to what others have to say.   SHOW LINKS “Change Your Mind” Sister Hazel - https://www.youtube.com/watch?v=Y944YxuE1OU   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 126 - Personal Responsibility

    Play Episode Listen Later Jun 21, 2022 23:04


    Episode 126 - Personal Responsibility Personal responsibility. We owe it to ourselves and those that we interact with. Two “events” happened recently, which has affected Brian and sharing can be cathartic and help with healing. How does this translate to you and your life, both personally and professionally.   SHOW NOTES 02:45 – Accusation of racism. 14:00 – Out of Order podcast is no longer happening. 17:40 – Translating Brian's recent issues can help agents in transactions and in their personal life. 19:05 – What will happen with the Between the Lines podcast? 21:15 – Thank you for your loyalty!   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 125 - Racial Bias in Appraisal with Guest Marcus Fillyaw

    Play Episode Listen Later Jun 14, 2022 83:52


    Episode 125 - Racial Bias in Appraisals with Guest Marcus Fillyaw Talking about a difficult topic is always tough. Racism and appraisal is certainly one of those topics. While it is tough to dicuss, and open, honest dialogue must take place if there is to be any solutions or understanding. In this episode, Brian invites Marcus Fillyaw to discuss racial bias and the appraisal industry. The start made both a little nervous, but in the end, they realized the differences really aren't that different. It is about understanding all around and not being afraid to have the talk.   SHOW NOTES 04:10 – Welcome to Marcus Fillyaw. 08:30 – What is an appraisal to a real estate agent? 09:45 – How does an agent handle a CMA? What pushback do you get from homeowners? 15:00 – What do the terms racist, racism, and biased mean? 19:50 – News and media sources suck and put their agenda and slant to sell their business. 21:00 – What are your proclivities and thoughts about different classes of individuals? 25:45 – Comment about Kamau Bell. 32:30 – In high profile cases of race and appraisal, where is the truth? Is there something else that affected the values? 42:30 – An appraisal is an opinion of value and there is almost always a range of value between practitioners. 47:35 – Appraisers don't look for black communities to make comparisons. 54:35 – What is driving the increases in claims of racism in appraisal? 59:40 – People are more exposed to the stories so they might think the problems are happening to them. 1:01:35 – Appraisers commonly make people mad because we don't get the value number the owner wants. However, it is not based upon race. 1:03:10 – Appraisers report the market. They do not make the market. There is not a systemic issue in the appraisal industry. 1:05:40 – The bigger issue is more about the incompetence of one of the appraisers in the value disparities. 1:09:10 – Education is one way to change the narrative and help everyone understand what is happening. 1:10:35 – Agents can help educate the public by teaching and helping their clients understand the process. 1:16:45 – Challenge yourself to seek out the entirety of any story. Don't just read the headlines or listen to one news source. 1:18:50 – Last words of wisdom from Marcus.   SHOW LINKS Marcus Fillyaw - https://www.remax.com/real-estate-agents/marcus-fillyaw-greenwood-in/102124094 Kamau Bell - https://www.cc.com/video/rdms0e/the-daily-show-with-trevor-noah-w-kamau-bell-starting-uncomfortable-discussions-about-racism-on-united-shades-of-america   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 124 - B Reaps What He Sows with Lexi and Jackson Lee

    Play Episode Listen Later Jun 7, 2022 25:22


    Episode 124 - B Reaps What He Sows with Lexi and Jackson What better way to keep your legacy than to invite your kids on your podcast show. Be careful what you wish for though, as Brian finds out his kids don't always go along with his thoughts and sometimes keep him in check.   SHOW NOTES 01:35 – Welcome to Lexi and Jackson. 02:55 – Kids introduce themselves. 04:10 – What is the favorite thing that daddy cooks? 05:50 – What does daddy do for a living? 06:35 – Is daddy smart? Smarter than Cate? 07:20 – What do you want to be when you grow up? 08:30 – What is your favorite subject in school? 09:45 – How cool is Star Wars? 11:45 – Who is B's favorite child? 12:30 – Is it hard to do podcasts? 14:00 – How would Lexi and Jackson suggest picking a comparable? 15:10 – How much is a garage worth? 16:55 – To help agents and appraisers get along, how do you get along with your brother and sister? 18:55 – Does B learn anything when he teaches? 19:35 – Does B like what he does? 20:18 – Who makes the best farts? 21:15 – Am I happy being me? 21:45 – Have any of your students been mean to me? 22:26 – What do you like better? LEGOS, sleeping, or eating? 23:20 – Parting words of wisdom.   SHOW LINKS Ricotta vs. Cottage Cheese in Lasagna – https://greatist.com/eat/ricotta-cheese-and-cottage-cheese-what-is-the-difference Baby Yoda – https://starwars.fandom.com/wiki/Grogu   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 123 - Do You Claim to Be a Wise Person?

    Play Episode Listen Later May 31, 2022 17:49


    Episode 123 - Do you Claim to be a Wise Person? Wisdom comes from the knowledge that you don't know everything and that there is always more to learn. Even if you are at the top of your game, there something else to consider. Are you truly a wise agent?   SHOW NOTES 05:25 – Even a nuclear scientist doesn't know everything. 06:50 – Communication is a huge part of wisdom. 07:45 – If you truly know about a subject, you must be able to explain what it is. 08:50 – You must also be open to communication and conversations from others. 12:10 – Education is key to gaining wisdom. You can always learn more. Never stop learning. Fine tune your knowledge. 13:30 – Take the opportunity to education someone else. Helps you and helps the other person. 15:15 – Enjoy a warm or cold beverage with someone else 15:45 – Help me, help you. 15:55 – Chinese philosopher Confucius saying. Be like Confucius.   SHOW LINKS Kansas, “Carry on Wayward Son” - https://www.youtube.com/watch?v=2X_2IdybTV0 Confucius - https://en.wikipedia.org/wiki/Confucius   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?

    Episode 122 - Why You Should Hire an Appraiser

    Play Episode Listen Later May 24, 2022 10:36


    Episode 122 - Why You Should Hire an Appraiser Plain and simple: Liability is increasing for agents on many levels. Hiring an expert has always been the best practice, so consider hiring a competent appraiser for your next   SHOW NOTES 01:40 – Hiring an appraiser is “worth it.” 03:20 – You don't need to hire an appraiser for every single property, but if something causes concern, it would be a good idea to hire a professional. 05:20 – Just like you would hire an expert for taxes, legal issues, and title concerns, you should hire an appraiser to mitigate your liability. 07:15 – Choose your appraiser carefully. Not every appraiser is suited for your needs.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 121 - My Way is the Right Way!

    Play Episode Listen Later May 17, 2022 21:47


    Episode 121 - My Way is the Right Way! Featuring Cate Waggoner-Lee There is more than one way to skin a cate (what a gross analogy). Your way might work, but guess what, mine probably does too. Don't get so ingrained in your position that you miss another perspective. Adjustments, comparables, and value are subjective, so don't get mad when someone thinks something different than you. It is okay to agree to disagree.   SHOW NOTES 03:10 – Change your attitude. Cate is the softer side of Brian. 04:10 – Not just one value on a property. 05:45 – Appraisers and agents tend to agree there is a range of value. 07:10 – There are many properties that are comparables. Your comparables are not the only one. 08:15 – If you think your comparables are good comparables, explain why you think they are the most comparable. 10:25 – How do you present your information to an appraiser or to an agent? “I'm trying to help you out.” 12:00 – More than one way to come up with an adjustment. 13:35 – Grammar police correcting Brian. 15:25 – Is there ever a time when a lender will “require” one way to come up with an adjustment? 17:45 – Lenders, this message is for you too: there is more than one way to review and underwrite an appraisal report. 19:45 – Just because I'm right, doesn't mean you are wrong.   SHOW LINKS Origin of “More than one way to skin a cat” - https://grammarist.com/phrase/more-than-one-way-to-skin-a-cat/#:~:text=There's%20more%20than%20one%20way%20to%20skin%20a%20cat%20means,Yankee%20Life%20by%20Seba%20Smith.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?

    Episode 120 - Should an Appraiser be a Licensed Agent?

    Play Episode Listen Later May 10, 2022 14:38


    Episode 120 - Should an Appraiser be a Licensed Agent? Being agent could give the appraiser a much needed perspective that would be beneficial in the valuation of property. Seeing what buyers and sellers are doing in the market can be invaluable to providing credibility to an appraisal report. You don't have to sell homes to get a perspective that will set you apart from other introverted appraisers that are stuck in their own bubble.   SHOW NOTES 04:05 – Should an appraiser be a licensed agent? Yes, but hear me out. 05:10 – The appraiser's job is to mimic what a buyer would do in the market. 07:10 – An appraiser doesn't have to sell real estate to have their hand on the pulse of the market. 08:15 – Being an agent can provide a broader picture. The lens is more focused to be a better appraiser. 09:05- Prior to 1989 there was no such thing as an appraisal license. Real estate brokers were the appraisers. 11:25 – Big benefit to having a real estate license. 13:25 – Pointing the finger to agents too…take an appraisal class.   SHOW LINKS Real Estate Class – indianarealestateinstitute.com   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 119 - Condos: The Silent Change for 2022

    Play Episode Listen Later May 3, 2022 15:34


    Episode 119 - Condos: The Silent Change for 2022 The tragic events of the Florida condo complex in 2021set the stage for some big changes from Fannie Mae regarding requirements for condominium properties. If you are an agent, lender, or appraiser, you should start asking questions and recognize the liability the changes will have to your practice and transactions.   SHOW NOTES 03:07 – June 2021 tragic event with the condo collapse started the changes. 04:35 – Concerns with deferred maintenance, structural problems, and property damage. 06:10 – Fannie Mae will not buy loans if the property has significant issues. 07:32 – If there are defects in the community, it could affect a single unit owner. 08:35 – Special assessments by condo management. 10:50 – Form 1076 (in the show links below) is an 8-page disclosure document. 12:05 – Disclosure and legal responsibilities are now more prevalent for owners and agents.   SHOW LINKS Fannie Mae Disclosure Form - https://singlefamily.fanniemae.com/media/15656/display   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 118 - Adjustment Guidelines

    Play Episode Listen Later Apr 26, 2022 11:18


    Episode 118 - Adjustment Guidelines A quick note on things to consider when adjusting your comparables. The relationship between them and the sale price may be an indicator of comparability.   SHOW NOTES 02:30 – Old adjustment guidelines. 05:10 – The guidelines do have some relevancy but are not critical to maintain. 06:30 – Why is this important? 08:00 – Explain why you made the adjustment. 09:30 – If you are exceeding the old guidelines, maybe the property is not very comparable.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 117 - Why Doesn't The Appraiser Use My Comparables?

    Play Episode Listen Later Apr 19, 2022 13:34


    Episode 117 - Why Doesn't The Appraiser Use My Comparables? This question is asked almost as often as why do appraisals come in low. The best question, why is your comparable worthy of use?   SHOW NOTES 02:40 – The agent can suggest potential comparables. 03:27 – Appraiser: “I can't use the comparable.” 05:15 – Example of when an appraiser might use your comparable. 06:30 – Explain why the appraiser should use your comparable. 09:10 – Have you given any compelling reason to use your comparable?   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 116 - Why Can't We All Just Get Along?

    Play Episode Listen Later Apr 12, 2022 13:07


    Episode 116 - Why Can't We All Just Get Along? The world is an angry place. Take the time to see another perspective and realize there is more than one part of the conversation.   SHOW NOTES 03:10 – It's tough to think of the other perspective. 06:10 – Will Smith and Chris Rock situation. 07:15 – Agents have disgust for each other. 08:45 – Act like a professional. 09:55 – Take a step back and think about the other side.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 115 - Where is the Industry Heading? Featuring Steve Crellin

    Play Episode Listen Later Apr 5, 2022 37:06


    Episode 115 - Where is the Industry Heading? Featuring Steve Crellin Steve Crelling with Yawkey Way Appraisals joins the show again to impart his “wisdom” on various changes in the appraisal industry. We hear his take on where things are heading in our community.   SHOW NOTES 01:55 – Hello Steve. 04:00 – Lender policies are dictating many processes. 07:00 – Changes coming down the pike. 12:25 – The failed execution of Fannie Mae for the ANSI standard. 15:00 – Desktop appraisals. 19:25 – How will desktops affect bias in appraisal? 23:00 – How does an appraiser get sent to appraisal board? 25:20 – Will these changes push appraisers out of the industry? 27:50 – These changes will affect agents. 32:30 – Where is the Brian and Steve “thing” going?   SHOW LINKS Steve Crellin - https://www.facebook.com/YawkeyWayAppraisals   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 114 - ANSI Standards are HERE!

    Play Episode Listen Later Mar 29, 2022 17:10


    Episode 114 - ANSI Standards are HERE! ANSI standards define how residential property should be measured for square footage. Fannie Mae has adopted this standard and it WILL affect agents. Are you ready?   SHOW NOTES 02:15 – What is ANSI? Sets a standard to measure property. This will open more liability to agents. 04:15 – Steve Crellin gave a presentation and reported about agents being mad about these changes. 05:20 – This is how to measure property. It is NOT how to value property. 07:55 – Red flags to watch for on properties. Separate living space. 10:00 – Measurements are taken from an exterior perspective. Rounding is made to the nearest inch or tenth of a foot. 12:00 – Classroom questions: sunrooms and bay windows.   SHOW LINKS ANSI Standards - https://www.e-rallc.com/ANSIstandards   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 113 - Teaching an Old Dog New Tricks

    Play Episode Listen Later Mar 22, 2022 21:16


    Episode 113 - Teaching an Old Dog New Tricks Learning new things can be difficult. Especially for Brian when his wife, Cate, joins the show. He will never learn. The real estate industry changes and we all must learn to accept those changes. Old habits do die hard, but to be successful, you must change with it...even if you must do it while kicking and screaming.   SHOW NOTES 01:14 – Welcome back Cate. 03:00 – Teach an old dog new tricks, but Cate is not a dog or old. Steve is the old dog. 07:05 – The real estate world is changing. Technology, lending, etc. all changes. 08:40 – Appraisal adjustments need to be updated. 11:30 – Cate's Side Note Tangent, and she is savage. 13:45 – Has there been a shift in values for in-law quarters and at-home entertainment. 15:45 – Baby boomers are changing some of the markets. 16:15 – Analyzing property needs to change. 18:00 – Challenge how you work. Don't be rigid and unwilling to learn something new.   SHOW LINKS AOL “You've Got Mail” - https://www.youtube.com/watch?v=dudJjUU9Nhs Steve Rupp – https://www.realtor.com/realestateagents/56ca82a2bb954c01006d2760   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 112 - Your House is Weird

    Play Episode Listen Later Mar 15, 2022 12:09


    Episode 112 - Your House is Weird Do you remember the term “functional obsolescence” from your real estate classes? Probably not. However, I'm confident you have seen a “weird” house. Something about the house just made it look off or not function well. What did you do about it? Ignoring it is not the answer.   SHOW NOTES 02:03 – Functional obsolescence. What does that mean? 03:38 – Example: four-bedroom home with one bath. 06:00 – What does the market expect the home to include? 07:49 – Something on the exterior of the home could be “weird” too. 10:00 – Make market adjustments when the market sees the element as atypical.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 111 - MLS Sheets: Accuracy Matters

    Play Episode Listen Later Mar 8, 2022 13:18


    Episode 111 - MLS Sheets: Accuracy Matters Agent's listing sheets can contain vital information to the other real estate professionals. Be the professional and communicate what your property has and doesn't have. Help appraisers and other agents understand your listing. It might be a comparable down the road and hurt your next sale if you get it wrong.   SHOW NOTES 02:20 – Brian smacks agents back to earth after telling a story about his daughter. 04:58 – Assessor/public data are wrong a lot and you are responsible for checking it. 06:57 – Type in photo captions. The photos are nice but add comments to the photos. 09:05 – Closing out your listings: add comments about circumstances of the sale.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 110 - A Word or Three About Basements

    Play Episode Listen Later Mar 1, 2022 14:15


    Episode 110 - A Word or Three About Basements Listener asked a question about basements. Brian recommends a deeper dive into the components of a basement including its size, amount of finished space, and the level of finish. They all matter to buyers.   SHOW NOTES 03:24 – The details of a basement should matter. 04:36 – Full vs. partial basement regarding its size. 05:56 – Full vs. partial finish regarding finished areas and unfinished areas in the basement. 08:09 – What is the level of finish in the basement? 12:14 – Other things to consider: walk-out feature, egress windows, etc..   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 109 - Cost Does Not Necessarily Equal Value

    Play Episode Listen Later Feb 22, 2022 9:40


    Episode 109 - Costs Does Not Necessarily Equal Value How many times have you heard that? Too many for me. What does that mean in today's market with low supply, high demand, rising cost of materials, and lack of skilled labor. Brian thinks cost might equal value in this crazy market.   SHOW NOTES 01:10 – Cost does not necessarily equal value. 02:25 – Supply chain issues and lack of skilled workers have increased costs. 02:50 – Supply and demand between builders and buyers. 04:25 – Buyers are “screaming” for homes so cost might equal value due to the high demand. 04:45 – Remodeling your home. 06:00 – Market increases and demand for homes might make remodeling a great idea. 06:30 – Brian considered a purchase and tells his story.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 108 - ADUs and Second Residences

    Play Episode Listen Later Feb 15, 2022 10:32


    Episode 108 - ADUs and Second Residences What is an ADU and are they different than a second residence?   SHOW NOTES 01:15 – ADU, Additional Dwelling Unit. 02:10 – Two dwelling spaces. 04:43 – Separate address and metered utilities. 05:05 – Less defined. Ask what is common in the market. 06:50 – Agents, ask questions when red flags come up.     BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?     SHOW NOTES 01:58 – March 19, 2022 changes to appraisal reports. 03:15 – Beginning of changes to come, but lenders get to choose. 05:30 – Agents how does it affect you. 06:25 – What do these appraisal report types mean to agents? 08:42 – Bi-Furcated appraisal reports.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 107 - Desktops, Drivebys, and Bi-Furcated Appraisals, Oh My!

    Play Episode Listen Later Feb 8, 2022 12:33


    Episode 107 - Desktops, Drivebys, and Bi-Furcated Appraisal, Oh My! These are coming down the pike. Better get used to them and the wake that follows.   SHOW NOTES 01:58 – March 19, 2022 changes to appraisal reports. 03:15 – Beginning of changes to come, but lenders get to choose. 05:30 – Agents how does it affect you. 06:25 – What do these appraisal report types mean to agents? 08:42 – Bi-Furcated appraisal reports.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 106 - Agents and Appraisers CAN Work Together

    Play Episode Listen Later Feb 1, 2022 19:53


    Episode 106 - Agents and Appraisers CAN Work Together Despite some opinions (not facts) and individual attitudes, agents and appraisers truly can work together in the process. There are a few rules and some things to consider, but it is possible. When both the appraiser and agent act professionally and in unison, it is possible to work together and maybe even sing kumbaya. Okay, maybe that is a stretch, but both sides put down your negative attitudes and find ways to help each other.   SHOW NOTES 01:35 – B is awesome! 02:50 – Agents and appraisers can work together, but there are “rules” on when and how we talk to each other. 04:46 – When the report is turned in to the client, the appraiser cannot talk to the agent and work with them. 05:25 – Fiduciary responsibilities for agents are the same for appraisers with their client (usually the lender.) 08:05 – Look for opportunities to learn and get information the appraiser may consider in the valuation process. Maybe that agent can educate the appraiser. 10:50 – Send the appraiser information: adjusted comparables, list of updates, multiple offers, and explain the “situation” with your property. 12:00 – Sometimes the appraiser calls the agent. This is a good thing! Use this time to your benefit. 14:20 – Yelling and arguing will get you nowhere. “You get more flies with honey than with vinegar.” 15:00 – Tidewater for VA loans. 16:00 – If you haven't tried to work with the appraiser before the appraisal report is complete. What can you do? 17:00 – You will need factual, definitive, tangible proof the appraisal report is wrong. Comparables and adjustments are NOT facts. 18:05 – Agents, many appraisers are willing to talk to you. Appraisers, many agents are nice too. 18:35 – Appraisers do not have to talk to you, but good appraisers will.   SHOW LINKS Brian Ferling, appraiser - https://licensedirect.com/brian-w-ferling/1587537 Tidewater - https://www.benefits.com/va-loans/tidewater-initiative   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 105 - How to Become an Appraiser

    Play Episode Listen Later Jan 25, 2022 20:29


    Episode 105 - How To Become An Appraiser Been thinking about a career change. Maybe becoming a real estate appraiser is your future path. Before you make that jump though, be sure you know what you are getting into. The profession is worth it, but the road to get there can be painful.   SHOW NOTES 02:50 – Should you become an appraiser? Yes! 03:55 – Appraisal license types. 05:35 – Process to get the license. 09:00 – Trainee limits are based upon their mentor. 10:00 – You will need a mentor and that is usually the most difficult part in becoming an appraiser. 14:15 – When is a good time to start looking for a mentor? 15:25 – Complete the 2+ years of hell with very low wages, and you are a fully licensed appraiser. 16:25 – I do recommend it. The hard work will pay off, and it does pay off. 18:05 – Appraisal world is changing with new regulations.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 104 - Measuring Using the ANSI Standard

    Play Episode Listen Later Jan 18, 2022 16:24


    Episode 104 - Measuring Using the ANSI Standard Fannie Mae and Freddie Mac dropped the bomb by stating that all mortgages they buy with an appraisal date that has an effective date of April 1, 2022 or after, must be ANSI compliant. In this episode, Brian talks about things for agents to take note. Avoid liability and other issues by watching for elements in a home that may change the amount of square footage in a property.   SHOW NOTES 01:35 – Overview of how to measure property. 03:25 – Agents, you have legal liability. 04:40 – Square footage is measuring from the exterior of the property. 06:10 – Split up the levels of the home. Main, upper, and lower, and below grade. 08:30 – How staircases are included in the square footage. 10:04 – Below grade square footage issues. 11:35 – Sunrooms and finished garages standards. 12:00 – None of this has nothing to do with value. The standard does not deal with the valuation of the space. It deals with the process to measure the space. 13:45 – Even though this does not affect agents directly, agents need to get ahead of this issue. 14:30 – ANSI class coming soon in the Spring 2022.   SHOW LINKS ANSI - https://www.ansi.org/ Measurement Class - https://www.indianarealestateinstitute.com/courses   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?

    Episode 103 - ANSI Standard Goes Into Effect 04.01.2022

    Play Episode Listen Later Jan 11, 2022 13:00


    Episode 103 - ANSI Standard Goes Into Effect 04.01.2022 Dun, dun, dun!!! Fannie and Freddie have finally spoken and have set April 1, 2022 as the date for all appraisers to use ANSI to measure properties. This will have wide ranging changes so you better get ready.   SHOW NOTES 01:15 – Fannie Mae and Freddie Mac will require all appraisals with an effective date of April 1, 2022, or after to comply with ANSI measurement standards. 03:20 – Two standards that exist. 04:10 – Consistency is very important across the industry. 06:45 – This is not a requirement for agents, but this change will trickle down to agents. Pay attention! 09:00 – Public demands this. Agents should be very aware of this and handle it properly.   SHOW LINKS Fannie Mae Guidance - https://singlefamily.fanniemae.com/media/30266/display Real Estate Agent Liability - https://www.findlaw.com/realestate/selling-your-home/wrong-square-footage-on-mls.html >   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 102 - My Predictions for 2022

    Play Episode Listen Later Jan 4, 2022 20:32


    Episode 102 - My Predictions for 2022 Not that you cared, but Brian thought he would give some predictions for 2022 on the real estate market, appraisals, and a few other very important subjects.   SHOW NOTES 01:20 – What does your crystal ball say? 02:30 – Real estate industry predictions: will remain mostly the same. 06:55 – Elephant in the room: foreclosures and evictions. 07:50 – Appraisal predictions: values will continue an upward trend. Big regulatory changes. 09:40 – More appraisal requirements, desktop appraisals, appraisal reviews, and questions. 11:15 – Appraisal bias will not go away and will focus on the industry. 12:10 – Pop culture predictions. 15:40 – Personal predictions. 18:15 – Steve and Brian are working on our new format.   SHOW LINKS Movies coming out in 2022 – https://www.movieinsider.com/movies/2022 Obi-Wan Kenobi - https://disneyplusoriginals.disney.com/show/obi-wan-kenobi Indiana Real Estate Institute – indianarealestateinstitute.com A-Ha! Real Estate Exam Prep – ahareep.com   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 101 - End of Year Wisdom

    Play Episode Listen Later Dec 28, 2021 12:09


    Episode 101 - End of Year Wisdom Changing the typical format to give my take on 2021 and how to have a better 2022. Remember, breathe in, breathe out.   SHOW NOTES 02:45 – Media and news are biased toward themselves. 04:38 – So much anger and hatred. 05:27 – Just be kind. 06:20 – Not much we can do to make a change. 07:10 – Mr. Miyagi, Breathe in the nose and out the mouth. 08:15 – Hear both sides of the discussion. 09:45 – Even in the real estate industry be patient, kind, and understanding. 11:40 – Leave the year better than you found it.   SHOW LINKS Just Be Kind - https://www.facebook.com/Just-Be-Kind-Its-Easy-1633257020274602/ Miyagi, “Breathe” - https://www.youtube.com/watch?v=XemAlj9_qKE A-Ha Real Estate Exam Prep – ahareep.com   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 100 - 100th Episode Celebration

    Play Episode Listen Later Dec 21, 2021 12:38


    Episode 100 - 100th Episode Celebration Celebrating 100 episodes and sharing a quick tip on how to “work” with appraisers in these busy times. Don't be too mad about the joke at the end.   SHOW NOTES 02:30 – How to handle appraisal issues in getting them back on time and are not communicating. 04:30 – Appraisers are very busy with huge increases in requests. 05:25 – There isn't much you can do to get things done quicker. 08:50 – Push on the lender for them to push the appraiser to get it done. 09:20 – Appraisers, stick by your commitments. 11:25 – Mariah Carey joke.   SHOW LINKS Mariah Carey “All I Want for Christmas Is You” - https://www.youtube.com/watch?v=aAkMkVFwAoo   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 099 - Successfully Challenge an Appraisal

    Play Episode Listen Later Dec 14, 2021 14:17


    Episode 099 - Successfully Challenge an Appraisal It's the holidays and we wanted to give you a gift. One of the most commonly asked questions is how to challenge an appraisal. In this episode, Brian talks about the do's and don'ts to working with an appraiser. Listen closely because Santa is checking his list.   SHOW NOTES 01:35 – It's the gift giving season. Brian has something for you. 02:00 – How to successfully challenge an appraisal report. 03:00 – To effectively make a change and have input, get information before they finish their appraisal report. 04:20 – Appraisers can talk to agents about the appraisal process. Appraisers are collecting data. Communicate with each other. It's okay! 06:40 – No rule that says the appraiser must talk to you. 07:14 – Once appraisal report has been written, the appraiser is very limited in what they can talk to you about. 08:22 – Communication can only happen through the lender and that is very difficult to accomplish. Don't try to change the report after the fact. 09:30 – If you want to try to change the report after it has been written, you will need facts to make a change. 11:20 – Brian's gift: communicate with the appraiser BEFORE they write the appraisal report. 13:02 – Appraisers: Be nice, accept the agent's information, and look at it.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 098 - What is the Quality of Your Condition

    Play Episode Listen Later Dec 7, 2021 12:07


    Episode 098 - What is the Quality of Your Condition Quality and condition are two elements in valuation that quite often get mixed, combined and confused. In this episode, Brian explains the difference between these two important elements and how to better describe them.   SHOW NOTES 02:30 – Quality and condition are important to consider. 02:57 – Condition is what most people think about when looking at a property. 03:55 – Quality has nothing to do with condition. It are the elements made from. 05:25 – Stop making the wrong argument. 06:20 – What has been updated and in what quality? 06:52 – UAD ratings on appraisal reports. 08:07 – Quality and Condition ratings and definitions. 10:09 – Pay attention to the difference between condition and quality.   SHOW LINKS Quality vs. Condition – https://www.appraisalbuzz.com/quality-vs-condition/ UAD Ratings – http://www.bradfordsoftware.com/uad/UAD_Glossary.pdf   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 097 - The Value of a Bedroom

    Play Episode Listen Later Nov 30, 2021 11:33


    Episode 097 - The Value of a Bedroom Not only is the debate of what constitutes a bedroom a source of frustration, the value of a bedroom can also be hotly contested. Brian gives his opinion of the value of a bedroom and elements to consider that might change your outlook on the subject.   SHOW NOTES 02:05 – These are Brian's opinions based upon data and experience. Bedrooms rarely add value. 03:10 – Things to consider when valuing a bedroom: square footage, other rooms, and functionality of the space. 07:40 – Avoid this issue altogether, use the same bedroom and layout for comparables unless the differences affect other elements. 09:05 – On rare occasions, an adjustment is needed. Paired analysis might show the needed adjustment. However, an adjustment should never be the automatic default.   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 096 - What I'm Thankful For

    Play Episode Listen Later Nov 23, 2021 12:30


    Episode 096 - What I'm Thankful For Happy Thanksgiving! What are you thankful for? Brian gives thanks to all of the people that stand by him and help him be a better man.   SHOW NOTES Thank you to my family, my friends, my listeners, and even my laser measuring device. I appreciate you! Have a legendary Thanksgiving!   SHOW LINKS Homer Simpson - https://www.youtube.com/watch?v=E2dmfnSarDI   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 095 - Credible Equals Worthy of Belief

    Play Episode Listen Later Nov 16, 2021 14:23


    Episode 095 - Credible Equals Worthy of Belief The estimated value in an appraisal report is only one component. It may be the most important one to you, but that value doesn't mean anything unless the value is credible. That is to say it is worthy of belief. The next time you encounter a “low” appraisal, you might want to consider if the value you hoped to attain is believable. Supporting your value is even more important that writing down a number. Brian talks about the value of credibility in an appraisal.   SHOW NOTES 03:00 – Appraisals can stir up emotions. 04:38 – Brian has been affected by an appraisal that didn't come in at what he thought it should. 06:35 – Credibility is huge in writing a report. Appraisers do not like coming in low on an appraisal. 08:18 – Credibility equals worthy of belief. 09:45 – Lender can ask to change or even throw out an appraisal because it is not a believable report.   SHOW LINKS CMP Appraisals - https://www.cmpappraisal.com/about-our-services/ Aspen Appraisals - https://www.aspenappraisalservices.com/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 094 - Uncommon Appraisal Issues

    Play Episode Listen Later Nov 9, 2021 12:45


    Episode 094 - Uncommon Appraisal Issues Appraisal issues and defects come up often enough in properties. Don't let the uncommon issues blindside you. Brian talks about an concerned agent's phone call to him about a problem we almost never see. It was bad news for that agent. Don't become the next cautionary tale.   SHOW NOTES 00:58 – Happy Veteran's Day! 02:27 – Property issues and defects. 03:05 – Buried fuel tank example and FHA rules. 06:17 – Pay attention to external obsolescence. 08:40 – Train tracks with noise and rumble. 09:23 – Smell issues: sewer treatment plant. 10:05 – Most uncommon issues are external to the property. 11:15 – Agents don't ignore these issues. Look around the property. If you have a problem, ask the lender or another expert to find out how to deal with it.   SHOW LINKS FHA rule on fuel tank – https://hudgov.dynamics365portals.us/knowledge-details/?code=KA-05032#:~:text=If%20the%20subject%20property%20line,is%20ineligible%20for%20FHA%20insurance. External obsolescence – https://www.clearcapital.com/resources/glossary-of-terms/external-obsolescence/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 093 - The Comparable Is Wrong

    Play Episode Listen Later Nov 2, 2021 18:01


    Episode 093 - The Comparable Is Wrong Don't let the episode title fool you, we aren't talking about using the “wrong” comparable, we mean the comparable being used has wront information. Nothing is more frustrating than finding comparables properties and then finding out the properties you chose were not listed correctly or accurately. In this episode, Brian talks about how to work through that issue, and explains some of what an appraiser must do to satisfy a lender. Don't worry though, I'm sure the comparable is also wrong too.   SHOW NOTES 01:55 – Agents: put in accurate information into your listing sheets. 04:43 – What to look for when using a comparable. 06:50 – Look at pictures. 07:37 – Appraisal perspective: relatively the same as the agent with a few exceptions. 08:40 – Look at tax records. 09:23 – Look at prior listings 11:15 – Call the listing agent about the comparable. 12:27 – Appraiser's issues with lender when comparable has wrong data. 16:15 – Easy fix: use common sense and input your listings accurately.   SHOW LINKS Favorite candy in each state – https://www.candystore.com/blog/facts-trivia/halloween-candy-map-popular/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 092 - Appraiser Horror Stories with Steve Crellin

    Play Episode Listen Later Oct 26, 2021 51:14


    Episode 092 - Appraiser Horror Stories with Steve Crellin It's Halloween week and no scary season would be complete without a horror story or two. Steve Crellin with Yawkey Way Appraisals joins Brian again to talk about crazy and shocking events that have happened to them while appraising properties in the field. Be kind to them as appraisers do have tender hearts and might scare easily. Mmmmmuuuuhhhahahahahahaa!!   SHOW NOTES 02:40 – Warm intro for Steve and good parenting tips by B. 07:30 – Google appraisal horror stories. 09:00 – Horror stories about animals. 13:08 – Horror stories involving weapons. 18:10 – Horror stories involving homeowners. 25:37 – Steve shares his run-in with SWAT for just taking a picture. 31:50 – Halloween/ghost horror stories. 36:10 – Steve's favorite horror story. 47:39 – Stay tuned for some big news coming up in the next month or two.   SHOW LINKS Steve Crellin – https://www.youtube.com/watch?v=HDcGndXbcLk Squid Game – https://www.netflix.com/title/81040344 It's the Great Pumpkin Charlie Brown – https://en.wikipedia.org/wiki/It%27s_the_Great_Pumpkin,_Charlie_Brown Appraisal horror stories – https://www.appraisalbuzz.com/crazy-appraiser-stories/ “Amityville Horror” movie – https://www.biography.com/news/the-real-amityville-horror-facts   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 091 - Value Is NOT One Number

    Play Episode Listen Later Oct 19, 2021 12:45


    Episode 091 - Value Is NOT One Number Are you under the impression that the appraised value is the only value? Let's set that false impression to rest and talk about a range of value, and how to better understand how to value property. Qualitative versus Quantitative valuation can help solve some of the issues found in valuing property. Don't focus so much on one number. Realize that value is a range.   SHOW NOTES 01:50 – Value is not one number. 04:07 – Market value versus market price. 05:55 – Qualitative versus quantitative valuation. 08:05 – Validity to valuation when looked at as a range. 09:28 – Quantitative approach refines the value number. 10:45 – Recognize that your value is not the only value. 11:25 – Don't be so rigid on one number.   SHOW LINKS Ricotta cheese vs. Cottage Cheese in Lasagna – https://greatist.com/eat/ricotta-cheese-and-cottage-cheese-what-is-the-difference   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 090 - The Appraiser Doesn't Care

    Play Episode Listen Later Oct 12, 2021 15:59


    Episode 090 - The Appraiser Doesn't Care! True story: Appraisers have a heart – okay – some of them do. There is plenty to consider when valuing property. The impact of the value can be far reaching. Recognize that impact and have a heart.   SHOW NOTES 02:40 – Agents are intentionally biased as an advocate for their client. Appraisers are intentionally un-biased. 04:05 – Agents and appraisers are NOT enemies! 06:40 – The reports appraisers write affect many people. 08:00 – Value ranges are typical. 09:10 – Agents can deal with this too. Explain your situation to the appraiser. 11:30 – Appraisers do have a heart. 12:00 – Appeal to the lighter side of the appraiser. 13:20 – Appraisers don't like it when their home value is affected. 14:40 – The decisions the appraiser makes affects everyone.   SHOW LINKS Mark Ratterman – https://www.indianarealestatedata.com/jsp/agents/agent_overview.jsp?agentID=12361284 Residential Property Appraisal book – https://www.amazon.com/Residential-Property-Appraisal-Mark-Ratterman/dp/1935328794   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 089 - What Happened to Your Equity?

    Play Episode Listen Later Oct 5, 2021 14:09


    Episode 089 - What Happened to Your Equity? Equity will be a huge concern for homeowners in the coming years. Buying at the top of the market may get you in a house today, but what will that mean for you in the long-term? There are strategies to consider based upon a client's situation, needs, and financial expectations. As an agent, it would be wise to help manage those expectations to avoid the peril that many agents put their clients in during the 2008-2009 Recession.   SHOW NOTES 01:30 – Some markets are stabilizing and/or decreasing. What are you doing to help your clients protect their equity? 03:00 – Equity looks nice on paper, but only matters when an owner is selling or refinancing their home. Down the road, it may not be as nice. 04:35 – Economic cycles cannot be avoided. The market will have a correction and decline. 05:30 – Reasons to consider purchasing at a higher price based upon possible increasing interest rates. 07:55 – Other reasons to consider purchasing a higher price: currently renting. 09:05 – Home purchase is very emotional. Help the client make a decision based upon economics. 10:55 – No one can escape the economic cycle. Be an advocate for your client. 11:20 – Don't count on the appraiser or lender to take the ride. 12:40 – Many agents do not have this discussion with the clients and their clients felt that pain.   SHOW LINKS rubiconrealtor.com – https://www.rubiconrealtor.com/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 088 - What is Your Square Footage, Part 2

    Play Episode Listen Later Sep 28, 2021 17:48


    Episode 088 - What is Your Square Footage, Part 2 Last week's episode got into above and below grade square footage concerns. This week Brian talks about square footage issues seen all the time in upper levels. From open areas, to kneewalls, and dormers, there is plenty to watch. Take a deeper dive into how to calculate square footage in the second of this two-part series.   SHOW NOTES 00:50 – Recap last week's episode. 03:30 – Factors to consider when measuring upper levels. 04:20 – Open areas in an upper level. 06:50 – Ceiling and wall height concerns. 08:45 – Knee wall height and where to measure. 10:05 – Consider how you access the upper level. 11:27 – Separate access to upper levels. 13:15 – Don't do what other agents are doing! 15:10 – Two new classes on how to measure square footage.   SHOW LINKS Wear your sunscreen – https://en.wikipedia.org/wiki/Wear_Sunscreen Home Measurement Specialist – https://homemeasurementspecialist.com/ ANSI Standard – https://www.e-rallc.com/ANSIstandards   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 087 - What is Your Square Footage, Part 1

    Play Episode Listen Later Sep 21, 2021 19:47


    Episode 087 - What is Your Square Footage, Part 1 One of the top issues that creates confusion, frustration, and liability is the square footage of a property. In this episode, Brian talks about the issues concerning above and below grade areas, and how to more accurately state the size of your properties.   SHOW NOTES 01:30 – Why do people care about the size of the home? 02:40 – Pricing property per square feet. 03:20 – Litigation is increasing, so be aware of this issue. 04:50 – Disclaimer: this episode is only about square footage, not about value. 06:15 – Certified Home Measurement Specialist. 06:57 – What do you look for when calculating square footage of a property? 09:40 – Difference between above and below grade square footage. 10:20 – Do not add all the levels together. 12:20 – Does a walk-out or walk-up basement, or a basement with egress windows change the answer? No. 13:30 – What do you do with the rooms below grade? 15:20 – Make it clear what you have and what you are selling. 15:45 – Two classes will be available in the fall to teach agents how to measure a property. 16:50 – Agents, watch out for your clients. 17:35 – What can agents do to protect themselves?   SHOW LINKS Starbucks – https://www.starbucks.com/ Home Measurement Specialist – https://homemeasurementspecialist.com/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?

    Episode 086 - Appraisers in Cars, Driving Properties, Part 2

    Play Episode Listen Later Sep 14, 2021 53:05


    Episode 086 - Appraisers in Cars, Driving Properties, Part 2 Define excitement. I'm confident none of your definitions included two appraisers driving through Wyoming and Montana, talking about random topics and appraisal issues. But wait...this may not be like slipping down the slopes of Big Sky with the sun on your face, but this episode includes important topics such as Pringles, end cap shopping, and Brokeback Mountain, as well as where the appraisal industry is going “rules” in appraising, and the banking industry. If you tell your friends about the podcast, we promise to never let Brian attempt to rap again. Buckle up and enjoy the ride on part 2 of Appraisers in Cars, Drive Properties.   SHOW NOTES 04:09 – Favorite flavor of Pringles and stacking them. Best flavors: Mango Salsa and Wendy's Spicy Chicken Sandwich. 05:10 – End cap shopping troubles and marriage. 07:45 – Brian's hypocrisy on shopping, but is the consummate appraiser. 10:26 – Where is the appraisal industry headed. 15:15 – Pricing property with price per square feet. 16:40 – Banking industry wants appraisers to go away. 19:29 – Appraisers have hung themselves in so many ways. 22:00 – Appraisers are d*cks! Appraisal leaders have not stepped up to help the industry. 26:40 – Brian responds that the industry won't go away until humans can be replaced in unique situations. 33:20 – Technology will impact the future of appraisers. 38:20 – Appraisers talking bad about other appraisers. 40:07 – Appraisers that know the “rule”. 48:56 – Steve phones a friend. 05:40 – The Brokeback Mountain fiasco and Amazon.   SHOW LINKS “California Love”, Tupac – https://www.youtube.com/watch?v=5wBTdfAkqGU Pringles flavors – https://www.pringles.com/us/products/favorites.html Wendy's Spicy Chicken Pringles – https://www.pringles.com/us/products/favorites/pringles-crisps-spicy-chicken-super-stack.html Walgreens – https://www.walgreens.com/ End Cap Shopping – https://en.wikipedia.org/wiki/Endcap Yawkey Way Appraisals – https://www.instagram.com/yawkey_way_appraisals/?hl=en “Brokeback Mountain” – https://www.imdb.com/title/tt0388795/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 085 - Appraisers In Cars, Driving Properties, Part 1

    Play Episode Listen Later Sep 7, 2021 41:27


    Episode 085 - Appraisers in Cars, Driving Properties, Part 1 Define excitement. I'm confident none of your definitions included two appraisers driving through Wyoming and Montana, talking about random topics and appraisal issues. But wait...this may not be like kicking back on the beach with a Mai Thai in hand, but this episode includes important topics such as Ghostbusters, turkey bacon, and pineapple on pizza, as well as desktop appraisals, market trends, and what foreclosures might do to the market in the future. Buckle up and enjoy the ride on part 1 or Appraisers in Cars, Drive Properties.   SHOW NOTES 02:40 – Ghostbusters and Google searching issues. 05:55 – Drive-by and desktop appraisals risk to appraisers and homeowners. 11:35 – Risks to lender in appraisal process. 16:55 – Brian admits to being a perfectionist and Steve's wife is a jerk. 18:37 – Changes in the appraisal industry. 20:45 – Buyers using cash for their purchase and potential issues, and refinance boom getting ready to start? 26:08 – Was Indiana a booming market. 28:47 – Buyers writing letters to sellers, undue influence, and fair housing. 31:25 – Brian berates Steve about credibility. 35:23 – Steve loves Red Bull. Brian, not so much. 37:02 – Steve also loves the taste of artificial flavors. Brian, not so much. 38:07 – Artificial bacon flavored food and turkey bacon. 39:32 – Steve screwed up pizza with pineapple but tries to save it by adding jalapeno.   SHOW LINKS “Cowboy”, Kid Rock – https://www.youtube.com/watch?v=glb2U6y-GdU Yawkey Way Appraisals – https://yawkeywayappraisals.com/ Ghostbusters PKE Meter – https://ghostbusters.fandom.com/wiki/P.K.E._Meter Do you like the flavor of Red Bull? – https://reizeclub.com/what-is-red-bulls-flavor-taste-analysis/ Turkey Bacon vs. Real Bacon – https://spoonuniversity.com/lifestyle/bacon-vs-turkey-bacon-which-is-healthier-for-you Does pineapple belong on pizza? – http://spizzicorestaurant.com/pizza-debate/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 084 - How to Prepare for The Appraisal Inspection

    Play Episode Listen Later Aug 31, 2021 17:07


    Episode 084 - How to Prepare for an Appraisal Inspection In episode 074, Brian talked about what to give an appraiser. Many listeners loved it and asked what else they can do fully prepare for an appraisal inspection. Let's get you set to have the home ready for the appraiser to ensure a smooth appraisal inspection. That will bode well for you, the homeowner, and the appraiser...and maybe even the value.   SHOW NOTES 01:00 – Episode 074 blew up! Thank you!! 02:20 – What things can an agent or seller do to prepare for the appraisal inspection. 03:50 – Make the property accessible. 05:00 – Brian has met with many great police officers due to an alarm going off. 06:21 – Locked gates to the community. 06:36 – All utilities must be on and all mechanical systems are operable. 07:45 – Make the home “showing” ready. 08:30 – Homeowners should not be present for the appraisal. 09:50 – “Loose lips sink ships.” Homeowners have said something they should not have. 10:55 – Crate pets. Don't want to get bit or have an animal run out. 11:45 – FHA and VA loans will require a viewing of the crawl space and attic. Make sure they are open and available. 13:30 – Make sure appliances are operable. 13:40 – Some conventional lenders are asking about FHA and VA related issues. Make sure appraiser can see all areas of a home. 14:40 – Share this information with the seller. Buyer's agents can help too. 15:35 – Leave the packet of information as detailed in episode 074.   SHOW LINKS Margot Robbie – https://www.imdb.com/name/nm3053338/   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

    Episode 083 - Appraisal Gap Contract Language

    Play Episode Listen Later Aug 24, 2021 15:40


    Episode 083 - Appraisal Gap Contract Language With increasing markets come a slew of negotiating tactics by buyers. One of the most talked about is the “appraisal gap” language that many buyers are adding to their offers to ease the concern of sellers over the appraisal valuation. Does that affect the appraised value though? What does an appraiser do with that information? Brian gives his take on this topic.   SHOW NOTES 03:10 – What is an appraisal gap? 05:00 – Appraisal gap language should not affect the appraised value. 06:20 – The market value of the property is indifferent to the contract. The contract or its terms does not have any impact on the market value of the property. 06:55 – Does the appraiser feel comfortable writing a “low” appraisal because they know the buyer will make up the difference? NO! 08:45 – The contract does not automatically set market value. 09:20 – Transparency in Brian's appraisals and appraisal gap contract language. 10:40 – Buyers have communicated their contract was above market value. Have the conversation with parties. 11:55 – Appraisal gap language is fine in a contract, but don't automatically assume the value of the property is based upon that language. 12:30 – Buyer can pay more for a property than what it is worth. 14:00 – Appraisers: Do not assume the contract means anything. Do your job, analyze the information, and estimate the market value.   SHOW LINKS Leave Your Shoes by the Door Podcast – https://www.mibor.com/about/episode-21-brian-c.-lee/ Andrew Huber – https://www.linkedin.com/in/andrew-huber-200740129 Halloween movie – https://en.wikipedia.org/wiki/Halloween_(franchise)   BETWEEN THE LINES LINKS Email brian@brianclee.com   Web brianclee.com   Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/?   YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?  

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