Times are tough for residential appraisers. Artificial intelligence software that calculates a property's value in three minutes is working to replace them. Demand for appraisals has dropped as lenders turn to limited evaluations in lieu of full-blown appraisals for some types of loans.
Prudential Hunter in Santa Monica, Calif., and other West Coast Prudential affiliate offices say they have a program that'll expose listings to more potential buyers and eliminate the need for sellers to set fixed prices. Or is it a crutch for salespeople who can't convince sellers what their properties are worth?
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