Want to know the ins and outs of hybrid appraisals? Learn everything you need to know from the appraisal experts at True Footage!

Hybrid Appraisals: Understanding the Basics

A hybrid appraisal, also known as a Fannie Mae 1004 Hybrid or Freddie Mac 70H, represents a new wave in the real estate industry. It's an innovative approach to property valuation that combines the traditional full appraisal methodology with modern, data-driven techniques. It involves a licensed appraiser utilizing a third-party property inspector to collect on-site data, such as interior and exterior property photos, measurements, and condition details. The appraiser then combines this information with their own market analysis and desktop valuation to deliver an accurate property value.

Hybrid appraisals offer a cost-effective, potentially faster alternative to traditional appraisals.

They're not suitable for every situation – the choice depends on your unique property,  the transaction needs, and the preferences and requirements of the lender. 

Hybrid appraisals involve two professionals – a property inspector and a licensed appraiser.

Promoted by major entities like the Appraisal Institute and the National Association of Realtors.

The purpose of a hybrid appraisal is to streamline the property valuation process. The approach is designed to provide a quick and efficient valuation, typically used for refinance transactions, home equity lines of credit, portfolio valuation, or situations where a full appraisal isn't necessary.

Reduced Costs: Hybrid appraisals typically cost less than full appraisals.

Market Coverage: They can cover areas where local appraisers may not be readily available.

Less Detailed: They might not be as thorough as traditional appraisals, potentially missing critical property details.

Not Suitable for Complex Properties: Hybrid appraisals might not work well for unique or complex properties due to their less detailed nature


The fees for hybrid appraisals are generally lower than for full appraisals. While the cost may vary depending on the market and property type, you can typically expect to pay around 50-75% of the cost of a full appraisal.

Hybrid appraisals are not a one-size-fits-all solution. They work best for conventional properties in stable markets and may not be suitable for unique properties or volatile markets. Consider your specific transaction needs, time constraints, and the complexity of your property when deciding if a hybrid appraisal is right for you.

True Footage embraces hybrid appraisals as part of our commitment to delivering value, speed, and accuracy in our property valuation services. Our process is in line with guidelines established by key industry entities, such as the Appraisal Institute and the National Association of Realtors. We maintain a high standard for third-party inspectors and uphold rigorous quality control measures to ensure the delivery of reliable appraisals.

True Footage’s Approach to Hybrid Appraisals

Discover the essential steps to becoming a successful real estate appraiser with our expert guide. Start your career and thrive in the industry today!

How to Become a Real Estate Appraiser

Real estate is a vast and dynamic industry that offers an array of career opportunities, and one of the most interesting and challenging roles within it is that of a real estate appraiser. As a real estate appraiser, you'll be responsible for determining the value of properties for a variety of purposes, such as mortgage lending, property tax assessments, and even divorce proceedings.

The first step to becoming a real estate appraiser is to complete the necessary education and training. In most states, a high school diploma or equivalent is the minimum education requirement, but many states require some college coursework in real estate or a related field. The coursework usually covers topics such as real estate principles, appraisal procedures, and ethics. Additionally, most states require on-the-job training, either through an apprenticeship or a trainee program. This on-the-job training typically includes working under the supervision of a licensed appraiser and learning the day-to-day responsibilities of an appraiser.

Step One: Complete Education and Training

After completing the education and training, the next step is to pass a licensing exam. The licensing exam, which is administered by the state, tests the candidate's knowledge of real estate principles, appraisal procedures, and ethics. It is a comprehensive exam that covers a wide range of topics, and it is essential to pass it in order to obtain a license and start working as a real estate appraiser.

Once you've passed the licensing exam, completed the necessary training, and obtained a license, you're ready to start your career as a real estate appraiser. To get started in your appraisal career, you’ll have to find a certified appraiser to mentor you through the training process. This can be one of the most difficult aspects to starting your career in the appraisal industry as there are many certified appraisers who are either unwilling to train somebody else, unqualified to take on the supervisory role, or simply unsure of some of the benefits of having a good apprentice to help them in their business. 

A growing option for beginning appraisers these days is joining a larger firm. Since many appraisers are very small, one or two person businesses, it can be a difficult and time consuming undertaking for them to take on the responsibility of a trainee as it often means slowing down their own appraisal production to train someone else. Although having a good appraiser apprentice can lead to more production in less time down the road for the certified appraiser mentor, it can be a frustrating experience trying to find somebody capable of training a newly minted appraiser apprentice who really understands the value of training somebody. Larger firms tend to have more resources in the form of more qualified trainers who can take the time to train an apprentice without worrying about the loss of productivity. 

Step Three: Start Your Career as an Appraiser

Obtaining a license is not the end of the process, as states require licensed appraisers to continue their education by completing a certain number of hours of continuing education each year. This is to ensure that appraisers stay up-to-date with the latest developments in the real estate industry, and that they maintain their knowledge and skills. Additionally, states often require appraisers to pass a background check, which is done to ensure that the appraiser has a clean record and is fit to work in the industry.

Step Four: Maintain Your License Through Continuing Education

Become a True Footage Real Estate Appraiser

What is a reasonable income expectation for an appraiser?

While there is no set minimum salary, commission split, or hourly rate for an appraiser apprentice, if you’re thinking about becoming an appraiser, one suggestion is to secure an apprenticeship with a supervisor prior to entering the industry so that you know what to expect with regard to compensation before starting down the path.

What can one expect with advancement opportunities in the industry?

As with almost any service industry, there are very good advancement opportunities as long as the individual is continuously growing in their education and competency, looking for ways to add value for their supervisor and clients, and helping their company become more efficient and profitable.

Is there flexibility in hours or location as an appraiser?

Depending on your supervisor’s business and coverage areas, there may be flexibility with location as some of the roles within the appraisal industry can be somewhat location independent once one has the competency to complete a full appraisal. The hours of operation are also dependent on the owner of the business and the availability requirements they may have for team members. 

One of the benefits of larger companies like True Footage is the ability to be an analyst who is knowledgeable and competent in a particular geographic location, but living in a completely different location.

What are the common traits of success for an appraiser?

In today’s busy world, the most common success traits of appraisers are the ability to manage their time efficiently, deliver excellent service, manage due dates, be communicative with clients, continuous learning and growth, and keeping their promises. 

At True Footage, we understand that the key to success in the real estate industry is to stay ahead of the curve, which is why we invest in the latest technology and tools to make sure that our appraisals are accurate, reliable, and completed on time. We also have a national network of offices, which allows us to serve clients all across the country.

In addition to our commitment to excellence, we also value our employees and offer a supportive work environment. We provide our appraisers with the tools and resources they need to succeed, and we offer a competitive compensation package that includes benefits such as health insurance, retirement plans, and paid time off. Our goal is to help our appraisers grow and develop in their careers, and we provide opportunities for professional development and advancement.

In conclusion, becoming a real estate appraiser is a challenging but rewarding career. It requires a combination of education, training, and experience, but with the right qualifications and mindset, you can become a successful appraiser. And if you're looking for the best company to work for and with, True Footage is the perfect choice. We offer a wide range of services, and our team of highly skilled and experienced appraisers is second to none. With our commitment to excellence, investment in technology, and supportive work environment, we can help you achieve your professional goals. 

What it’s Like Being an Appraiser at True Footage

Learn more about one of the most common reports in the appraisal industry, a Uniform Residential Appraisal Report (URAR) from True Footage!

Uniform Residential Appraisal Report (URAR) Explained

At True Footage, we believe in providing our clients with comprehensive and accurate appraisal reports to help them make informed decisions about their properties. One of the most common types of appraisal reports we use is the Uniform Residential Appraisal Report (URAR). In this article, we'll delve into what URAR is and how it is used for various types of appraisals.

What is a Uniform Residential Appraisal Report (URAR) 1004 Form?

A Uniform Residential Appraisal Report (URAR) is a standardized report used by appraisers to evaluate a residential property's market value. URAR was developed by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) in the late 1980s to provide a consistent format for appraisals on residential properties.

URAR includes details about the subject property, such as its location, lot size, building size, construction quality, and condition. It also includes information on comparable sales in the area, which are used to determine the subject property's market value.

Home appraisal: A URAR report is commonly used for home appraisals, where the appraiser evaluates the market value of a single-family residence. The report provides an unbiased opinion of the home's value based on its condition, location, and comparable sales in the area.

Property appraisal: URAR is also used for property appraisals. The report provides an accurate assessment of the property's value, taking into account factors such as the condition of the property, its location, and the demand for similar properties in the area.

Bank appraisal: Banks and other lending institutions use URAR to determine the market value of a property before approving a loan. The report helps lenders assess the risk associated with lending money to a borrower, as it provides an unbiased assessment of the property's value.

Real estate appraisal: Real estate agents also use URAR to determine the market value of a property. By using comparable sales data and other factors, the appraiser can provide an accurate assessment of the property's value, which can be useful in determining a listing price for the property.

Desktop appraisal: A desktop appraisal is a type of appraisal that can be conducted without a physical inspection of the property. In this case, the appraiser uses public records and other data to evaluate the property's value. A URAR report can be used for a desktop appraisal, as it provides a standardized format for the appraisal report.

Hybrid appraisal: A hybrid appraisal is a combination of a physical inspection of the property and a desktop appraisal. In this case, somebody other than the appraiser analyst conducts a physical inspection of the property to gather data about it. That data is then given to the appraiser analyst to do the market research, selection of the appropriate comparable sales, and then reconciling all of the data into a credible and reliable opinion of value. 

How is URAR Used for Different Types of Appraisals?

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