Richard Price's Story

Richard Price is an appraiser that appreciates statistically supported appraisals. This aspect of the CVR hooked him when he first received an advertisement email from AppraisalWorld. Read about his story and why he is our featured CVR Specialist of the week.

“I was happy to see that there was an appraisal platform that used statistical analysis and was surprised that this was a new concept.”

- Richard Price

Richard Price is a residential appraiser and broker who runs a one-man operation out of Austin, Texas. He first heard about the CVR last January when he received an email advertisement. What interested him most was the use of statistics for valuations. He states, “I’ve always been interested in statistics”, which is evident with his choice to minor in statistics in college.

Richard has been performing CVRs since June 2010, most of which have come from Amplify Credit Union. Richard enjoys that the CVR automates a lot of the work, so “you’re not spending your time on busy work.” This gives Richard more time to analyze the results. Richard believes that the statistically supported appraisal adds credibility to the conclusion of the value.  He states, “This is especially true when the number of true comparables is limited.”

Richard’s customers have also been pleased by the CVR.  He has not received a single criticism about any of the reports he has completed.  Richard has gained his clients through his marketing efforts, which include mediums such as the internet, networking groups, direct mail/email, print advertising and cold calls.

Another benefit of the CVR Richard enjoys is how much more he makes per hour with the CVR.  He says that he makes about twice as much per hour performing CVRs than he does with a standard appraisal. In addition, he says it usually only takes him about two hours to complete a report.

In his spare time, Richard enjoys golfing and playing trumpet for a local community band.  He also likes to spend time with his seven grandchildren. He says that he feels like everyday is a vacation.

Richard’s advice about using the CVR:

• Sometimes with unusual properties you have to think outside the box.  For example, expanding search areas and changing search criteria to redefine “neighborhood” is sometimes necessary.
• Focus on the value and spend less time worrying about the busy work because the CVR will do that for you.