BIC TIP #1276: The Ides of November: Appraisals Are Changing

November is coming, and you need to know this. In this BIC TIP, which lands in both the mortgage and real estate worlds, Stephen Long gives agents a heads-up about a major shift in how appraisals are done, and why a little grace and patience with appraisers will go a long way this fall.

Goodbye, Old Forms

Appraisers have been using essentially the same forms and format for well over 20 years. That is changing. They are moving to a new, dynamic, web-based system for reporting appraisals.

Many lenders and mortgage servicing companies are pushing appraisers in that direction. According to Stephen, the conversion must be made by May of 2027, but almost everyone is making the change in November of 2026.

Expect a Learning Curve

Any time an entire profession switches systems, there is a learning curve. Appraisers will be adjusting to new software, new formats, and possibly new data requirements all at once.

That can mean appraisals look a little different and may take a little longer while everyone gets up to speed. The reports your buyers and sellers are used to seeing may not look quite the same.

How Agents Can Help

If you are a buyer agent or a listing agent on a financed transaction, have some grace with those appraisers. Give them the extra time they may need.

Buyer agents, make sure your buyer’s contract timelines allow room for the appraisal to come in. Listing agents, be responsive. If the appraiser reaches out for more information from you or your seller, answer quickly and completely. A fast, thorough response can keep the whole transaction on schedule.

The Practical Takeaway

November is coming quickly. Build a little extra time into financed deals, set expectations with your clients, and stay responsive when appraisers call.

Expect appraisals to look a little different, and stay tuned as the change plays out in real time. Patience now beats a delayed closing later.

This BIC Tip is general real estate education for licensees and consumers, not legal, tax, or financial advice. Rules and forms change, so verify current NCREC rules, MLS rules, and standard forms, and consult a North Carolina attorney or qualified professional about your specific situation. See Disclaimers & Disclosures.

Mortgage topics are discussed for general education only and are not a commitment to lend or an offer of credit. Stephen Long, NMLS #2795861, Keller Home Loans, a division of Mutual of Omaha Mortgage, Inc., NMLS ID 1025894. Equal Housing Opportunity.