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The Real Word: Why Are There Discrepancies In Real Estate Appraisals?

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Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.

Last week, Byron and Nicole discussed a HousingWire article that reported on racial discrimination in the appraisal industry, moving on to talk about the errors and discrepancies of appraisal process.

After a barrage of disapproving comments on that episode’s video, this week, the duo brought on appraiser Warren Sumner (who’s also a real estate agent) to continue the appraisal discussion. “If it’s so sophisticated of a process, if it’s so dialed in, why do we have these huge gaps from time to time in different appraisals?” Byron asked.

They also talked about the appraiser-agent relationship. “Real estate’s not a lot of fun right now,” Warren said. “Not with the current market … I just want to see us all kind of work together and respect each other more.”

More this week: Ramsey Solutions surprised agents by saying it will no longer be working with eXp agents. According to Inman, the coaching company gave “eXp Realty agents a startling choice: Switch brokerages or stop getting leads from the well-known coaching firm.”

Marketeer of the week

VistaBrooklyn.com, a website for an apartment property in Florida, was awarded as a 2021 Webby Honoree. It was one of three in the world (and the only one in the country) to be given the honor, according to Inman.

Want to nominate a “marketeer of the week”? Drop your thoughts in the comments section below, or shoot us an email.