What's the difference between an appraisal and inspection?

[00:00:00] Speaker A: Where again? I thought being a realtor was a vacation. [00:00:03] Speaker B: It is. [00:00:04] Speaker A: Two times. [00:00:06] Speaker B: Jerk. Hey everybody. Welcome back to real estate Makes us drink. Brian Quinlan here from Daniels Real Estate. [00:00:12] Speaker A: Brad Nickam from Nest Mortgage Group just chinned the microphone. That's. You chinned the microphone? [00:00:18] Speaker B: I did. [00:00:18] Speaker A: Do it again. Not the chinning. [00:00:24] Speaker B: With that. We have a guest, sir. Tell us about yourself. [00:00:29] Speaker C: Thanks, guys. My name is Kevin Davis. It's currently 6:00. I'm in real estate. I am on my third shot. [00:00:38] Speaker B: Excellent. [00:00:39] Speaker C: So I. I own an appraisal management and appraisal firm on the south side of Indy and We're licensed in 16 states and happy to answer any questions you have. [00:00:51] Speaker B: Fantastic. Let's start with what are you drinking? [00:00:56] Speaker A: He doesn't know. [00:00:57] Speaker C: This is something that Brad poured me. I'm sure there's probably some sort of sleeping drug in there or something like that. [00:01:03] Speaker A: Oh no. [00:01:04] Speaker B: This drink enough of them. [00:01:05] Speaker C: What do we got? [00:01:05] Speaker A: A fantastic blanco. It is G4 made 1579 by Felipe Camareno. This is a 90 proof tequila. [00:01:14] Speaker C: Yeah. So the absolutely fantastic. [00:01:16] Speaker B: The proof just gone up with all it has. [00:01:18] Speaker C: And, and the most enticing part of this is Brad's Spanish accent when he's describing the tequila on what he's given me. [00:01:25] Speaker B: He tries. [00:01:25] Speaker C: Yeah, he really tries to blend into the culture down there. [00:01:29] Speaker A: The whole thing is when, when you hear it said to you then that's, that's how you. [00:01:34] Speaker C: I. I actually went to Cabo with Brad one time and he, he's a. He's a seasoned pro down there. [00:01:38] Speaker B: He is. [00:01:39] Speaker C: Everybody knows him. [00:01:40] Speaker B: I'm sure they do. [00:01:41] Speaker A: This time we didn't actually go to Cabo. We went to Tequila Mexico, flew into. [00:01:46] Speaker C: Guadalajara and there you go. [00:01:47] Speaker A: Went to Tequila. It was crazy. It was awesome. [00:01:50] Speaker B: Well, I'm drinking a beer. [00:01:52] Speaker A: Drinking a beer. You're always drinking a beer. Correct. [00:01:54] Speaker B: Today's Beer Brewery. And I thought it was a funny title, Roundabout, which especially here in Indianapolis is becoming pretty much what we're known for. So. Roundabout Beer Brewery. It's a hellas lager, which means golden something. Didn't taste like all the rest. [00:02:16] Speaker A: How about that? What's yours? [00:02:17] Speaker B: Never mind. [00:02:18] Speaker C: Cheers. [00:02:18] Speaker B: Cheers. [00:02:19] Speaker A: Cheers. Enjoy some G4. [00:02:21] Speaker C: Thank you. [00:02:22] Speaker A: It's good stuff, G4. [00:02:23] Speaker B: Did you find someone to help you with your reading of Spanish from your tequila page? [00:02:28] Speaker A: Not looking for a reader. Looking for a teacher coming to teach me how to talk. [00:02:32] Speaker B: Did you find someone to help you with that? Not yet. Surprising. I had a few of those. [00:02:37] Speaker A: I have a. A tequila event that that we're going to tomorrow and we have a friend there that is from Guadalajara and we're going to talk about it tomorrow. [00:02:48] Speaker B: Well, excellent. [00:02:50] Speaker A: That means perfect. Oh, wait, that's perfecto. [00:02:54] Speaker C: It's fine. [00:02:55] Speaker A: Yeah. [00:02:55] Speaker B: I'm sure some of those are interchangeable in some way, shape or form. [00:02:59] Speaker A: Yeah, I would think so. You know the roundabout thing, that's kind of funny because I have a customer that's selling his house and round about what price? Around about 400 in his backyard is a roundabout. Okay. So when he looks out the backyard, there's a roundabout behind, and he's over in Greenfield. And yeah, they have them in Greenfield, too. And they're way better at it than the people in Greenwood right now. [00:03:27] Speaker B: Good for them. [00:03:27] Speaker A: So he said he loves to watch traffic in the roundabout and the realtor, that guy's house, go. Why? He said because of the fights. So the realtor is like, okay. And then just kind of blew it off. So when they were there doing the listing, they're standing in the backyard and they hear crunch. And then two guys jump out and just start walloping on each other in the roundabout. And the customer looked at him and said, see, isn't that cool? [00:03:57] Speaker B: So that's a good story. [00:03:59] Speaker A: Yeah. [00:03:59] Speaker C: I thought. [00:04:00] Speaker A: My wife and I sit on the front porch and watch the Amazon trucks go by. The Amazon parade. We have a game. It's either scratched, dented, or you drink. [00:04:12] Speaker C: Ah. [00:04:13] Speaker A: And we don't drink very much. Every one of them has a scratch or dent or something as they go home. But that would be more fun watching people fight. I think. I think it might be. [00:04:23] Speaker C: Yeah. I don't know if it's going to sell that quick, though. [00:04:25] Speaker A: If that sold four days. [00:04:27] Speaker C: Oh. See what I know. [00:04:29] Speaker A: Full list. [00:04:30] Speaker C: Full list. Let's hope it appraises once again. I'm just walking through life aimless. Aimlessly. [00:04:36] Speaker A: Just stuff flying by. [00:04:39] Speaker B: Exciting. [00:04:39] Speaker A: It is. [00:04:41] Speaker B: So how did you get into appraising as a career? [00:04:45] Speaker C: Good question. A little bit of backstory. Right out of high school. I actually went to high school with the. The guy who owns Beer Brewery. Yeah. Cathedral High school, class of 1995. Darren Connor. He was actually a pretty good friend of mine back then. [00:05:01] Speaker A: Hi there, Darren. [00:05:02] Speaker C: Nice shout out. Right out of high school, I ended up joining, you know, as any kid who goes to a private school does. I join the military, United States Marine Corps. [00:05:13] Speaker A: I thought they all became senators. [00:05:15] Speaker B: That's later. [00:05:18] Speaker C: Got out of the Marines, got into landscaping, and I ended up landscaping a guy's house. And he was Driving, landscaping. [00:05:25] Speaker B: People do, you know. [00:05:26] Speaker C: Right. [00:05:26] Speaker A: Did not know that he was landscaping. So a lot. [00:05:30] Speaker C: So ended up landscaping a guy's house and he was driving a fancy car. And I kind of knew who he was and asked him what he did, and he said, well, I'm in mortgages and I believe this is 2004. So I'm thinking, well, I just spent eight years in the infantry, and now I'm spent another four years, you know, kind of breaking my back doing landscaping. I'd kind of like to do that too. I said, well, what are the qualifications? And this is 2004. And obviously there was nothing. You know, if you had a heartbeat, you could go write a mortgage. So got into that. Really didn't know what I was doing for quite some time. Was very proud to be the person who gave people money for a house. The American dream. Didn't, didn't really realize how corrupt the whole industry was. [00:06:15] Speaker A: Oh, come on. That's awful. That's a low ball hit. [00:06:18] Speaker C: And then had the largest sense of pride when we crashed the world economy in 2008. 2009. My company shut its doors in February of 2009. And there was a, there was a company that was just kind of starting up Appraisal management company who was hiring. And I thought, you know, why not get a job over there? So got a job over there and everything kind of took off from there. You know, one thing led to another. Worked for two different companies before starting my own, and the rest is history. [00:06:45] Speaker A: Do I know any of those people from the old days? [00:06:48] Speaker C: Yeah, I mean, I, I, I have non disclosures with everybody. I can't, I can't say names. [00:06:53] Speaker A: I understand. I just, I had a feeling that being a mortgage banker in Greenwood in those times. Yeah. We had nothing to do with crashing the world's economy. [00:07:03] Speaker C: Right, Right. [00:07:05] Speaker A: Give a little bit of a little. What's the word I'm looking for? Their freaking fault. [00:07:12] Speaker C: Oh, yeah. [00:07:14] Speaker A: Fannie Mae, Freddie Mac, fha. [00:07:16] Speaker C: Well, it's almost kind of like they. [00:07:17] Speaker A: Nehemiah. Yeah, Nehemiah. [00:07:20] Speaker C: It's like they made a mess in the kitchen and then all of a sudden said, we don't want to go into the kitchen because it's messy. So that's the analogy I've already always kind of given. [00:07:27] Speaker A: And the biggest downfall is we lowered your credit score that you needed to buy a house, and then we gave everybody free down payments so nobody had any skin in the game. [00:07:35] Speaker C: Right. [00:07:36] Speaker A: And believe it or not, when they got behind on their house and their car and they come to repossess the car. They're like, wait, I had to put two grand down to get that car. Take my house. [00:07:45] Speaker C: Yeah. [00:07:47] Speaker A: Ain't losing that two grand. [00:07:49] Speaker C: It's been a. It's been a wild ride. And I hate how, you know, some of the professionals in our industry kind of get a bad name. You know, of course, there's always going to be bad apples in every industry, but, you know, as a whole, everybody I. I come across these days is pretty, pretty down to earth, pretty good to go. Yeah. [00:08:05] Speaker A: That's awesome. Well, I enjoy working with you. You guys did a great job for our company. [00:08:10] Speaker C: Thank you, Brad. I. I enjoy taking your clients money. [00:08:14] Speaker B: Awesome. [00:08:15] Speaker A: Well, there you go. So he's the, he's the person that takes it. [00:08:18] Speaker B: There, I would say, is a fair amount of realtors who really don't know how appraisers operate. Like, when you go to a house and are scheduled to do an appraisal, what's your. I don't know. I guess. [00:08:36] Speaker C: What do you do when you're there? [00:08:37] Speaker A: All right, can I tell you what realtors think you do? [00:08:39] Speaker C: Sure. [00:08:40] Speaker A: We're going to ruin this. [00:08:44] Speaker C: I think that's actually on the car ride over there where they're looking like, look at it. Look. Look at this sucker. So. [00:08:48] Speaker A: Only because of the ring cams. [00:08:51] Speaker C: So complete disclaimer here. I have, I have two business partners, and we own this together. I am not an appraiser. I just kind of have the industry experience, so I can speak to what our staff appraisers kind of go through. We have nine staff appraisers in three states, and then we have another 8,000 in the. In the 16 states that we operate in. So, you know, research is going to be 90% of what your. What an appraisal is. [00:09:17] Speaker B: Okay. [00:09:18] Speaker C: So when they get to a house, you know, that 10% of the inspection, you know, they're going to be looking for the items that they have to call for per the GSEs, Fannie Mae, Freddie Mac, FHA. Right. You know, they have to do different measuring standards that came out, I think, last year, you know, by ansi, where, you know, if your appraiser should have some sort of laser measurement tool so you're getting accurate readings after you've been. [00:09:42] Speaker A: Doing it for 30 years. Is that considered the eye? [00:09:45] Speaker C: I. I mean, we. We get that every once in a while. Every once in a while, we see an appraisal that matches exactly with the tax card. And it's like, wow, the assessor was super accurate on this and then it's just a matter of looking at upgrades. You know, what kind of, what kind of condition is the property in? What's the quality construction? You know, the, the Davis homes versus the custom homes. Those are all going to be labeled and that's how, that's how they're going to determine their value. Then they're going to find like minded comps, you know that, that kind of fit in, that fit in that market. [00:10:18] Speaker A: And Brad Davis does build an outstanding house. [00:10:21] Speaker C: Yes, you are right. Nope, no knock. Sorry. [00:10:25] Speaker B: So there with consumers, I'm sure. Well, I don't hear it very often, but I'm sure there are people who are like what's the difference between an inspection and an appraisal? Some people think that they are the exact same thing. Sure. They are not. An inspector will spend usually a couple hours and they're kind of getting nitpicky going through and making sure everything works, doesn't work, all that kind of stuff. An appraiser is not doing that. [00:10:51] Speaker C: Correct. So the appraiser's client is actually the lender. [00:10:56] Speaker A: Okay. [00:10:56] Speaker C: So word of the wise, and I've seen this happen multiple times on listings where a Realtor will attach the home inspection to the listing. Well, since the client of the appraiser is the lender, they're going to disclose any and all information, including derogatory information regarding the property that's on the inspection report. So if you're a Realtor, do not put your, your home inspection online for an appraiser to see because they, they have to disclose at that point, especially if it has to do with something, you know, related to like fleas or infestation or mold potential. [00:11:33] Speaker B: They're not going in the crawl space. [00:11:34] Speaker C: Yeah, in the attic. [00:11:35] Speaker B: Right. [00:11:35] Speaker C: Yeah. So the appraiser is mostly looking for upgrade the property and then judging the market reactions of comparable sales. [00:11:44] Speaker B: Yeah. [00:11:45] Speaker C: Okay. [00:11:46] Speaker A: I like the word infestation. [00:11:48] Speaker C: Yeah, we, we, we actually had one of those this week where it was a staff appraiser. First inspection of the day, had to cancel the rest of the appointments because the first house he walked into had fleas and he had to go home and wow. [00:12:00] Speaker B: Oh wow. [00:12:00] Speaker A: Was he a hairy gentleman. [00:12:03] Speaker C: I don't, I feel like that question could get me in trouble. He's an employee. I, Andrew Kane. I'm not answering that. [00:12:11] Speaker B: Not at liberty to say. Hello, Andrew. [00:12:13] Speaker A: I use an explanation to people that ask me what's there, the inspection, the appraisal. And I always say, well, let's look at it as a car. The Inspections, the mechanic looking under the hood. And the blue book is the appraisal telling you bought it for the right value. [00:12:26] Speaker C: That's good. [00:12:27] Speaker A: And since Zillow, there's another blue book, you know, you can just look. This probably helped appraisers a lot when happened to come up with their value. They just check Zillow. There you go. [00:12:36] Speaker C: That's actually our number one. Right. When we get an order in the door, we put the Zillow value on the. The unfinished report. Just. We sure it's going to match up? [00:12:44] Speaker A: So helpful. [00:12:45] Speaker C: That was so helpful. [00:12:46] Speaker A: They put the A in accuracy. [00:12:48] Speaker C: Right. That's so good. [00:12:51] Speaker B: There's a question that came up on my team this week with the new rules that the buyer's agency commission can't be disclosed online, anything like that. Now, here in Indiana, we have an addendum that we fill out to request, you know, potentially that the seller paid the buyer's agency commission. And that is, I guess, somewhat on the side. It's not part of the purchase agreement. Well, I guess it is. It's an addendum, but sure. It's not the purchase agreement. This week, we had someone on my team who had an appraiser ask to have that addendum sent to them. [00:13:31] Speaker A: It's an addendum. We have to have them, too. [00:13:34] Speaker B: Totally understand why you have that. And I guess they work for you. Okay. [00:13:38] Speaker A: Yeah, but if. If the purchase agreement says there's an addendum. [00:13:41] Speaker B: Yeah, okay. [00:13:42] Speaker A: We don't know that. The addendum doesn't say, buyer's gonna give $10,000 to the seller or sellers need 10,000. I don't know what the thing says. Okay, so it may say it also comes with the tractor and the $10,000 for buying. You know, I can't see that that makes sense. I can't be on there. So if it's an addendum, we need it. [00:14:05] Speaker B: I'll say I believe that makes sense for you. I don't necessarily see how the appraiser would necessarily need to know what the commission part of that is. Does that somehow affect the value you would put on the property? [00:14:22] Speaker C: You son of a. I said I. [00:14:25] Speaker B: Can edit this out. [00:14:26] Speaker C: You son of a. I knew you were gonna go there. [00:14:29] Speaker A: He's way bigger. [00:14:30] Speaker C: I saw it right when you walked in the door. [00:14:32] Speaker A: This Marine's gonna break you like a twig. [00:14:36] Speaker C: Let me go back to my first statement of the Marine Corps. [00:14:40] Speaker B: Can we switch seats? [00:14:41] Speaker A: No, I. I give him a hard enough time on a regular basis. [00:14:45] Speaker C: So there's Going to be a lot of better answers than what I'm going to give you. Okay, on page one, technically, page one of the appraisal report, it asks, did you view a fully executed purchase agreement? Okay, so what is the fully executed purchase agreement? All of it. [00:15:08] Speaker B: With the addendum. [00:15:10] Speaker C: That's two yes or no. I mean, it's a yes or no answer. So I'm sure my business partner Josh could give you a much more in depth answer. He's out in the field grinding every day. But page one of the report asked that question, and they have to answer it. [00:15:26] Speaker B: Okay, easy answer. Thanks. [00:15:27] Speaker A: It's not going to change your value, though, because the appraiser is going to look at the house. Was it sold at the value that it is? So whether it has $5,000 in concessions and closing costs or $1,000 in concessions or. Or the commissions being paid, it's. The commissions have always been paid. The appraisers never gone out there and looked at the house and went, well, it's $100,000 house, but there's $6,000 total in commissions. And it's really not worth that. You know, it's worth 6,000 less. That's. That's why when all the people talk about how this NAR change is going to lower the price of homes, it just told you how stupid news people are. [00:16:05] Speaker C: Yeah. [00:16:06] Speaker A: Or how to. How out of touch they are. Because, you know, they. They pay cash for their house, you know, out of their millions and millions and millions that they make, you know, on tv, Right. [00:16:16] Speaker C: Sure. [00:16:17] Speaker A: I watched a Fox guy, the guy in the middle of the day started to see Caboodo. Cabo. Yeah. [00:16:26] Speaker B: Yeah. [00:16:27] Speaker A: He said, well, if I was, I didn't pay any commissions when I bought my house. And he was with a realtor from there, and he's like, did you buy that for sale by owner? No. Oh, I. I worked with my realtor. And the realtor's like, really? Those guys all sold that house and helped you buy a house for free? So would you have paid more if there was commissions? And he said, well, I'm sure I would have. And the guy looked him, and the guy should have called him on, but he just went, okay. And I was like, no, that was your opportunity. Because he could have said, well, when you go to sell your house, are you going to lower the price of what the commissions would have normally been and just get less money because you no longer have to pay the commissions? Are you still going to sell your house for what it's worth? Because Everybody out there, you know, when, when the realtor comes and says your house is worth 410,000. I'm not a realtor, but I would say a majority of those go. I was thinking 450. And when you go, oh, we don't have to pay the buyer's commission. They don't look at you go, oh, let's do four. [00:17:32] Speaker B: Exactly. [00:17:33] Speaker C: Right. [00:17:33] Speaker B: Oh, we can drop that down now. [00:17:35] Speaker A: So it's not adjusting purchase prices. [00:17:37] Speaker B: No. [00:17:37] Speaker A: I seen a 419 yesterday. Sell for 435 in the same day, too, by the way. [00:17:41] Speaker C: Dang. [00:17:42] Speaker A: My FHA borrower wanted to offer under. [00:17:45] Speaker B: Oh, not, not selected. [00:17:48] Speaker C: Yeah, it's not really that market right now. [00:17:50] Speaker A: No, it's not going to be that market for a while. [00:17:53] Speaker B: Yeah. [00:17:53] Speaker A: What do you think? As you've been around it a long time, what do you think the biggest challenge is today for an appraiser than what there was, say, 2018 or before? [00:18:07] Speaker C: So there's a, there's a lot of things kind of coming down the, coming down the pipe here. You know, October 31st is when the borrowers are allowed to start appealing the appraisal, requesting reconsideration of value instead of us doing it. I mean, it could be either or. You know, I didn't even know that was happening. Yeah. So now you have borrowers assisting in determining the collateral for a financial institution. It's going to be, it's going to be pretty interesting. And then next year, you know, the, the appraisers have new forms coming out, you know, so they're going to have to relearn all the, all the software. You know, they, the appraisers sometimes get a pretty bad rap, but really, when it comes down to it, we're all working for the same team. We're all trying to accomplish the goal. Sure. Appraisers get paid regardless, but, you know, that's because they're trying to establish value for a financial institution. I don't really know one who's always interested in just killing a deal coming. In short. And then there's the whole food chain thing. You know, we're the, the appraisal community is, isn't always at the top of the food chain. So, you know, there's the undue influence law, you know, the Dodd Frank act that came out in 2011. And, you know, I, I think, you know, with some institutions who don't really follow compliance, that that's probably still out there a little bit. If you don't hit purchase price, you're probably coming off of our panel, which is. Which is sad. But, you know, it's the game that everybody has chosen to play. [00:19:44] Speaker A: You know, being a loan officer in those times from 97, 2007, you know, there used to be a lot of communication with an appraiser. And for me, as a loan officer, it was a lot of, hey, that's not going to hit value. [00:20:02] Speaker C: Yeah. [00:20:02] Speaker A: Okay, I appreciate that. Now I know what to do next. [00:20:05] Speaker B: Right. [00:20:06] Speaker A: I used to be able to say, hey, this person's thinking about refinancing. Do you think the house would appraise for this? And it wasn't wink, wink, make it appraised for that. It was, no, I think you're going to come in short of that. So now I didn't tell the customer they could refinance, and I didn't take their 500 bucks to do their appraisal. [00:20:25] Speaker C: Right. [00:20:25] Speaker A: Today's world, I can't communicate that because there is no way to do the comp. So now we utilize great services like realtor.com and Trulia and Zillow, trying to figure it out. And, you know, on the sales side, I realized there were people doing bad things in the purchase world, but they weren't the everyday loan officer. You know, it wasn't, hey, I'm not going to send you deals if you don't hit value. I'm not going to send you deals if you don't get it turned into me on time. [00:20:56] Speaker C: Right. [00:20:56] Speaker A: And I realized back in the day when I did this the first time, that the appraisals had pictures that they picked up at the Kodak booth and they sucked into the paper and they delivered the appraisal by hand, and there was an appraisal there with photos in it that they went and took and had developed. You know, so you look at what's done today, you know, there was a lot of interaction, and you did create a relationship with your appraisers that you worked with, but it wasn't. I mean, for me anyway, for our company, when we did it, it wasn't to manipulate value. [00:21:28] Speaker C: Yeah. [00:21:29] Speaker A: But I do know some guys that spent some time in prison because they get the appraiser $5,000 to make it appraised for more. And you probably know a couple of them, too, being from working down on Raggle Park. [00:21:44] Speaker C: I plead the fifth on that one. [00:21:46] Speaker A: I mean, I. We watched him, we knew as mortgage people, we were like, well, look, that guy just started a mortgage company. He bought a boat, he bought a Ferrari. He's breaking the law. [00:22:00] Speaker C: There's definitely a lot of war stories out there. You know, I think when it comes to, you know, turning the report in on time, just like everybody in, in their own chosen profession, appraisers are amazing at what they do. You know, they're analyzing data. Not all of them are the have the highest business acumen. So, you know, if you take a shop like mine and the way my business partner has structured it, you know, we have a complete admin support team that schedules all the files, starts, starts the appraisal, you know, starts collecting the data, is able to deliver, is able to communicate all status updates as opposed to some of the one man shops out there, you know, where they're trying to do all that while they're in the field. It kind of, it can turn into a clusterfuck. So, you know, it's all about kind of taking your whole scope and dividing it into sections and say, what can I do best? You know, and if you're an appraiser working for my firm, the best thing you can do is go out and inspect and then analyze the market and reconcile the value. [00:23:05] Speaker A: I know this we, not that they all go great. We've all had ones that have gone sideways, sure, timing wise and. But with your company, you know, I had one that was I think three days away from closing and the appraiser ghosted, everybody wouldn't. He did the appraisal and then he just disappeared. And I got on the phone with Kevin. He answered his phone probably somewhere around a mortgage person's dinner time. Nine, 9:30 at night. And I said, dude, I need your help. And you connected with the people that you needed to find out. And I had an appraisal. I believe it was that night or the very first thing in the morning. [00:23:46] Speaker C: So that phone call was at 9 o'clock at night and I think 9:30 the next morning you had your appraisal. [00:23:50] Speaker A: Yeah. And we closed on time. [00:23:52] Speaker C: Yes. You know, that's all, that's all about customer service. You know, you're, you're a client of mine and although we can't do the things that used to be done back in the day, there's I, I still have a duty to you to provide a high level of service. And if you're upset and you're calling me at 9:30 at night. Yeah, it's time to, time to get everybody in gear. Now the problem is, is I'm in real estate and the name of this podcast is Real Sustain because strength. So of course I was feeling very good at the time and I was like, oh, what's Brad doing calling me at 9:30 at night? This is going to be a great conversation. That's what he said. [00:24:31] Speaker B: Let's see where this goes. [00:24:33] Speaker C: Let's see if he's using his Spanish voice. [00:24:36] Speaker A: Hey, Kevin, I really need your help on this deal. [00:24:38] Speaker C: Yeah, but that all comes down to. I mean, that was. That was me making one phone call to, you know, my. My chief revenue officer, and she took it from there. [00:24:49] Speaker A: And if you have somebody, I feel like we. You're part of our team as a lending company and for our realtors who are teaming up with us, you're a part of our team. And to know that at the helm is someone that wants to get down in it and get it done on time. We appreciate it. [00:25:06] Speaker C: Yeah, you always. I mean, I think we all have to get our hands dirty. You know, we're not really above anything. You know, we all got here some way. So getting your hands dirty and making sure people are happy, it's all part of the. It's all part of the job. And as soon as you lose focus of that, you know, you're going to. [00:25:22] Speaker A: Start going downhill and just knowing every troubled transaction. Everybody blames the mortgage guy, and we all blame you guys. [00:25:31] Speaker C: Yep. Yep. [00:25:32] Speaker B: Jerks, Raisers. [00:25:34] Speaker C: Yeah. And usually I don't even tell people what I do. They just, what do you do? I'm in real estate, and I just leave it at that. I don't want to talk about what I do because you might have had a bad experience, and I'm not going to deal with your story. [00:25:43] Speaker A: And I've had them come and talk at two real estate offices for me at team meetings and introduce them as the most hated part of our business. Exactly. And realtors instantly start throwing darts. [00:25:56] Speaker C: Yeah. [00:25:57] Speaker A: So besides. Besides appraisals and real estate, what else do you like to do? [00:26:03] Speaker C: Oh, man, I'm a really bad golfer, but I've been playing a lot this year. Broken 90 a couple times. Shot in it. Shot an 83. Hillview Country Club. [00:26:16] Speaker B: All right. [00:26:17] Speaker C: It's. It's the greatest country club in the world. Wow. [00:26:20] Speaker B: Are you a member? [00:26:20] Speaker C: I am a member. And in fact, there's a. There's a guy, he lives in. I believe he lives in Romania, but he's originally from Franklin. He's married a Romanian girl, and he comes back every once in a while. And we asked him one time, how do you like Hillview? And he said, kevin, I live amongst the Carpathian Mountains, and Hillview is a top three place in the world. [00:26:39] Speaker B: Oh, my goodness. [00:26:40] Speaker A: That's amazing. [00:26:41] Speaker C: So I like Hillview. [00:26:42] Speaker B: It's not that nice. [00:26:44] Speaker A: I don't know where this place is. It sounds amazing, Franklin. [00:26:47] Speaker C: Yeah. [00:26:48] Speaker A: So take a cruise there. [00:26:49] Speaker C: Like to play a lot of golf. Luck to. We have some acreage down in Trafalgar. [00:26:54] Speaker B: Like, he's in real estate. [00:26:55] Speaker A: He likes to play golf. [00:26:56] Speaker C: Yeah. Go figure. Yeah. And my. My scorecard always has a. Or the pencil for the scorecard always has an eraser on it to just. [00:27:03] Speaker A: There you go. [00:27:04] Speaker C: Make sure I'm getting the lowest. My wife and I, we have some acreage down in Chicago, so it look like to, you know, be outside, kind of do some. Do some shooting, have some fires going on, but really, that's it. I mean, you know, I think we're all probably married to our industry, you know, where you're always kind of checking what's going on and he's not. Yeah. Know. [00:27:29] Speaker B: Might disagree. [00:27:30] Speaker C: Kind of keep it in communication with everybody else. That's kind of. That's kind of what I do. [00:27:34] Speaker A: Have any kids? [00:27:35] Speaker C: No kids. At one time, we had five dogs. [00:27:38] Speaker A: Those are, like, kids. [00:27:39] Speaker C: Yeah, yeah. Unfortunately, they've all passed, and now we're just down to one. So, you know, one of them was a bulldog, and he was. [00:27:47] Speaker A: So you had, like, a big, big bulldog. [00:27:49] Speaker C: Yeah, it was an English bulldog. His name was Winston. He. He was a. He was a good boy. [00:27:53] Speaker A: Winston. [00:27:54] Speaker C: Winston. Yeah. Winston. Henry Davis is what he. [00:27:56] Speaker A: Oh, nice. [00:27:57] Speaker C: The best thing about it is, you know, all the other dogs just gravitated directly to my wife. But Winston was. I mean, I was his guy, and he was mine. So, like, he looked at the food chain of, hey, Kevin's the alpha, and then there's me, and then there's this chick over here. I don't even know why she's here. [00:28:13] Speaker B: And then there's these other dogs. [00:28:15] Speaker A: Keeps thinking how come she's the one that feeds me. [00:28:17] Speaker C: Yeah. Oh, yeah, exactly. [00:28:20] Speaker A: So, Kevin bottle. [00:28:22] Speaker C: Yeah. So we. We actually have enough wildlife around. I see a lot of deer, a lot of raccoons, a lot of possum, some coyotes every once in a while. So I think we got a. We got a good situation going on down there. That's awesome. [00:28:34] Speaker A: I haven't. I haven't been to Trafalgar in a really long time. Have you been to Trafalgar? [00:28:42] Speaker B: I don't honestly go to Trafalgar very much. Bartersville. Been there a couple times. [00:28:47] Speaker A: It's like Trafalgar. [00:28:48] Speaker B: It's close. [00:28:49] Speaker A: It's not as Cool. When you say it backwards. [00:28:51] Speaker C: That's right. Brad, do you want to let everybody raggle fart? [00:28:54] Speaker A: Yeah. I can't say Bargersville backwards. [00:28:58] Speaker B: Yeah, you'd have to think about that one. [00:29:00] Speaker C: What's weird is once you move to Trafalgar, you have a secret handshake where you say raggle fart. No, you don't. [00:29:06] Speaker A: Can you show us? [00:29:06] Speaker C: No, I'm not going to show you. You're not a member of our community. [00:29:09] Speaker A: Is there any noises that you make? [00:29:11] Speaker C: Maybe not answering that. [00:29:15] Speaker A: It is a fantastic community located south. 135. [00:29:20] Speaker C: Yeah. 135. 252. [00:29:22] Speaker A: Heading right to Nashville, Indiana. [00:29:24] Speaker C: We got a. We got a Taco Bell about two years ago. [00:29:26] Speaker A: Oh, yeah, Hardee's. Is the Hardee still there? [00:29:29] Speaker C: Well, I think it was a Burger King. And if it was a Hardee's, it was a Hardee's before it was a Burger King. But no, that was closed for a while and it was. [00:29:35] Speaker A: I think. [00:29:35] Speaker C: I feel like it was a huge town scandal. [00:29:37] Speaker A: The person that owned the Hardee's originally won the lottery and they purchased. That's. They bought a franchise. [00:29:44] Speaker C: That's what I would do if I won the line. [00:29:45] Speaker A: I would not buy a Hardy's in. [00:29:48] Speaker C: Japan or Carl's Jr. Sure. [00:29:50] Speaker A: By a Tony Steakhouse. [00:29:52] Speaker C: Yeah. [00:29:53] Speaker A: I guess it depends on the size of the lottery. [00:29:55] Speaker B: Only if you can get a Reuben. [00:29:57] Speaker A: Reuben would be my gentleman. There you go. For sure. Have you. Have you been to Tony's Steakhouse? [00:30:01] Speaker C: Oh, yes. [00:30:02] Speaker A: Okay. I thought so. [00:30:03] Speaker B: We've had Reuben from Tony's on the show. [00:30:05] Speaker A: The general manager. [00:30:06] Speaker C: Oh, very nice. Yeah. Good dude. [00:30:09] Speaker A: Good guy. Yeah. He and I were just talking, believe it or not, talking tequila the other day. [00:30:14] Speaker B: Shocker. [00:30:15] Speaker C: Yeah. Yeah. [00:30:16] Speaker A: Another guy from Mexico. He may be able to teach me Spanish. [00:30:20] Speaker B: I would think so. [00:30:21] Speaker C: Oh, yeah. [00:30:23] Speaker A: I will see him next week. [00:30:25] Speaker B: I do have an appraiser question. [00:30:27] Speaker A: Oh, there you go. That's what I was waiting for. I knew it was in there. [00:30:30] Speaker B: It's. Yeah, it's been rattling around. So there are realtors who think they can influence an appraisal by leaving materials behind for an appraiser at the house, whether it's comps that they found or, you know, description of the house and updates and things like that. A, does that help? B, would you recommend that? [00:30:51] Speaker C: I would highly recommend that. Okay. The more data that an appraiser has before reconciling their value, the better. It's a lot easier to establish a range if they have all information before they start writing the report than after. And then think about the different obstacles that the whole industry has had with mybore switching software. Some of the comms aren't really geolocating correctly. So if there's information out there that a realtor has, I would definitely leave it for the appraiser. And in fact I would almost mandate it if I was a managing broker of you are not putting this on centralized, showing you are meeting the appraiser out there. You are going to do everything you can to make sure that they have all information possible. I wouldn't really consider it influencing as much as co educating. I don't think there's any influence, especially with all the compliance laws. I mean it's not like a realtor can say I will never deal with that appraiser again. Those, those times are gone now. They can try and block them. But why would you not want to give the appraiser all the information possible? And any appraiser who says you are trying to, you know, influence value, I would definitely say I'm not influencing value at all. I'm just making sure that all you have is the, the appropriate information. [00:32:13] Speaker A: Here's my comps. [00:32:15] Speaker B: Right. [00:32:16] Speaker A: Well, here's, here's a thousand dollar bottle. [00:32:22] Speaker C: Is this thing recording? [00:32:24] Speaker B: We don't record this and no one's watching. [00:32:26] Speaker A: No comfortable saying is that's the difference between showing the appraiser how you got there. [00:32:32] Speaker C: Yeah. [00:32:32] Speaker A: Not influencing it. [00:32:34] Speaker C: Yeah. Here's my market analysis. Here's all the comps I use for my, my list price. I mean, I don't, I don't know why realtors wouldn't do that on a regular basis if they're interested in the transaction being as complete as possible. 100%. [00:32:49] Speaker A: So if I was, you know, I list my house with you. [00:32:52] Speaker B: Yes. [00:32:52] Speaker A: It's really the listing agent's job for you to dig out of me all of the upgrades and all the things that have been done to the house over the years. So you can tell that to the appraiser. [00:33:04] Speaker C: There you go. [00:33:04] Speaker B: Realtors stick that in your pocket, get. [00:33:07] Speaker A: Off vacation and come back and get some. Right. No, I'm just kidding. All the realtors I work with work as hard as I do sometimes. [00:33:16] Speaker B: You work hard. Very hard. You work very hard. [00:33:19] Speaker A: But I feel like you're all out there busting it too. I'm not. Driving around all over God's wonderful creation and Prius showing people houses. [00:33:31] Speaker B: True. Are we doing a shot on this episode? I know that you guys have had a lot of Time. [00:33:35] Speaker A: How did we. Like, how do we almost forget that? [00:33:38] Speaker C: I don't know. [00:33:39] Speaker A: So this is. We're gonna do a shot. Okay. And this is guest choice. You got the whole wall. [00:33:44] Speaker C: Oh, wow. [00:33:45] Speaker A: And you say, man, I really want that. Magically, Buffalo Trace has showed up at our table. [00:33:52] Speaker B: All right, well, thanks for being on the show. [00:33:55] Speaker C: Yes. Thank you for having me. [00:33:56] Speaker B: All the appraiser info that I'm finding very valuable. Cheers. Wow. [00:34:09] Speaker A: It's been a long time since I had that. [00:34:11] Speaker B: I sleeping here tonight. [00:34:13] Speaker C: Yeah. [00:34:13] Speaker A: That is Okie. [00:34:14] Speaker C: I haven't had any since, like, noon, so. [00:34:16] Speaker A: That is Okie. That's Okie. That tasted like a. I drank a barrel. That's good stuff there. It's hard to find those big bottles of Buffalo treats. That's been on the shelf for a long time. [00:34:36] Speaker C: Yeah. [00:34:38] Speaker A: All right, there you go. Kevin, thanks for coming out and being on the podcast. Real estate makes you shrink. And thanks for coming in a little early and being on Tasting Tequila with Brad. [00:34:49] Speaker B: I'm gonna throw that out there. If you haven't already gone to YouTube and looked up, what's it called? [00:34:55] Speaker A: Tasting Tequila with Brad. [00:34:57] Speaker B: Tasting Tequila with Brad. He talks about tequila. Each episode is like three to five minutes short. To the point. Gives you lots of information. Highly recommend you go check that on YouTube. Subscribe. It's also Facebook. [00:35:11] Speaker A: Yep, Facebook. [00:35:12] Speaker B: Same name Tasting Tequila with Brad. So. Oh, Instagram as well. I'm not following that one. I got another one I gotta follow. [00:35:19] Speaker A: You know, I know you're not because there's only like four, but your Facebook's growing very nicely. Yeah, we're up. I'm trying to get to a thousand. I'm at like 349 today, and I've had it for a week, I think. [00:35:31] Speaker B: Good for you. All right, so check that out. If you need real estate info, hit me up info down here at the bottom. If you need mortgage or refinance info, hit up Brad. And when you need an appraiser, Brad's gonna hit up Kevin. [00:35:45] Speaker A: You know, let's say you're getting ready to list your house for sale and you'd like a pre listing appraisal. [00:35:51] Speaker C: So we actually just started up a DBA called Absolute Property Valuations. And we're actually. I think some people are mad about their assessed value right now and their taxes. [00:36:01] Speaker B: Yes. [00:36:01] Speaker C: So the website to that is a propervalue dot com. [00:36:06] Speaker A: A proper value dot com. [00:36:07] Speaker C: Propervalue dot com. Somehow we were able to snap right here. [00:36:09] Speaker A: Propervalue dot com. I'm gonna be checking that out. [00:36:12] Speaker C: Well, it just takes you back to our website where it gives you contact information. [00:36:16] Speaker A: It's funny, that, man. I hope my house keeps going up in value. I can't believe they assess it for that much. Right? [00:36:25] Speaker C: Yeah. [00:36:26] Speaker B: Somewhat contradictory. Anyways, if you need your home appraised, and some people do consider that before they list their house, just to give them an idea of a ballpark of pricing on it, Kevin's the man. So look up the website. Give him a call. Number's down there. [00:36:42] Speaker A: Call me. I got his phone number. [00:36:43] Speaker B: There's that, too. Thanks for watching. [00:36:44] Speaker A: Cheers. [00:36:45] Speaker B: See you next time. Cheers, everybody.