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Property Appraisals - Hybrid or Bifurcation Appraisal

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A hybrid (bifurcation) appraisal is a newish approach to appraisals in which a third party performs the property inspection and provides the information to the licensed or certified appraiser, who uses this information, as well as, other data to complete the appraisal. 

Key takeaways:

  • In theory, hybrid appraisals promise to speed the appraisal process, provide opportunities for agents to earn fees for collecting data, and reduce delays.
  • However, appraisers’ experience with hybrid assignments raise troubling concerns.
  • Agents need to be aware of who’s doing data collection on their listings, avoid conflicts of interest, and be present during appraisal inspections.

Here is a resource from NAR’s Real Property Valuation Committee that describes the different types of valuation products, including hybrid appraisals.

Know Your Home's Value - Types of Appraisals

Resources: NAR Magazine/April 3, 2023

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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.

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