108 - How Real Estate Appraisals Work

In this episode we talk about how home appraisals work. In California, real estate appraisers are regulated by the Bureau of Real Estate Appraisers (BREA), and today we’re joined by BREA’s Bureau Chief Angela Jemmott. Topics covered include:• What an appraisal is, why it’s needed, and who pays for it• Whether homeowners can choose the appraiser• What an appraiser does during an appraisal• What an appraiser is looking for to determine a home’s value• What it means if a home is appraised for less than paid for• What a homeowner can do if they disagree with an appraisal• Whether a homeowner can pay for their own appraisal• How to get a real estate appraisers license• The different levels of appraisers and their differences• Common reasons consumers file complaints with BREA Our Guest:• Angela Jemmott, Chief of the Bureau of Real Estate Appraisers