/Real Estate Appraiser/ Interview Questions
JUNIOR LEVEL

Have you ever had to deal with a discrepancy in property data while preparing a report? How did you resolve it?

Real Estate Appraiser Interview Questions
Have you ever had to deal with a discrepancy in property data while preparing a report? How did you resolve it?

Sample answer to the question

Yes, I have had to deal with a discrepancy in property data while preparing a report. In one instance, I was working on a property valuation report for a client when I came across conflicting information regarding the square footage of the property. The data provided by the client and the public records did not match. To resolve this, I decided to visit the property myself to measure the exact square footage. I used a laser measuring device to ensure accurate measurements. Once I had the correct information, I updated the report accordingly. This experience taught me the importance of verifying data and not solely relying on external sources.

A more solid answer

Yes, I have encountered a discrepancy in property data while preparing a report. In my previous role as a Real Estate Appraiser, I was assigned a valuation project for a residential property. During my research, I noticed conflicting information about the number of bedrooms in the property. The client claimed it had four bedrooms, while the online listing and public records indicated only three bedrooms. To resolve this, I followed a systematic approach. First, I contacted the listing agent to gather more information about the property's features. Then, I visited the property myself to physically inspect each room and take measurements. After comparing my findings with the client's claim and the online listing, I discovered that there was an additional room that had been converted into a bedroom, leading to the discrepancy. I documented my observations with photographs and measurements, and I included this information in my report, along with an explanation of how the discrepancy was resolved. This experience showcased my analytical skills, attention to detail, problem-solving abilities, and effective communication with both the client and the listing agent.

Why this is a more solid answer:

The solid answer provides a more comprehensive response by including specific details about the discrepancy and the candidate's approach to resolving it. It also demonstrates the candidate's proficiency in the required skills such as analytical skills, attention to detail, problem-solving skills, and communication skills. However, it could still benefit from additional information to make it exceptional.

An exceptional answer

Yes, I have encountered and successfully resolved a discrepancy in property data while preparing a report. In a recent valuation assignment, I was evaluating a commercial property for a client. During my research, I noticed a significant difference in the property's square footage between the data provided by the client and the local assessor's records. Understanding the importance of accurate data in appraisals, I decided to conduct a thorough investigation to ensure the report's reliability. First, I conducted a detailed review of the building plans, considering previous renovations and expansions. Then, I reached out to the local building department to gather any available documentation related to the property's size. To my surprise, I discovered that the building department had approved an expansion project for the property five years ago that was not updated in the public records. Armed with this information, I visited the property and carefully measured each area, cross-referencing it with the building plans and permit documents. I documented my findings with photographs and detailed measurements. In my report, I provided a comprehensive explanation of the discrepancy, highlighting the historical permit data and the updated accurate square footage. This experience not only showcased my analytical abilities, attention to detail, and problem-solving skills but also demonstrated my dedication to ensuring accurate and reliable property valuations.

Why this is an exceptional answer:

The exceptional answer goes above and beyond by providing a more detailed and thorough account of the candidate's experience with handling a discrepancy in property data. It showcases the candidate's ability to conduct a comprehensive investigation, interact with relevant authorities, and provide a well-documented report. The answer demonstrates a high level of analytical skills, attention to detail, problem-solving abilities, and effective communication. It aligns perfectly with the requirements of the job description.

How to prepare for this question

  • Familiarize yourself with appraisal software and MS Office to efficiently analyze and present data.
  • Develop strong analytical skills to assess large amounts of information and identify discrepancies.
  • Practice problem-solving techniques to resolve issues related to property data discrepancies.
  • Enhance your communication skills to effectively interact with clients, listing agents, and other relevant stakeholders.
  • Improve your attention to detail by regularly reviewing and double-checking information in reports and data sources.

What interviewers are evaluating

  • Analytical skills
  • Attention to detail
  • Problem-solving skills
  • Communication skills

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