A hybrid appraisal is a type of appraisal in which a trained property data collector relays property information to an appraiser so they may deliver an opinion of value.

Hybrid appraisals involve physical inspections where a trained property data collector inspects a property to generate a floor plan, take photos, and determine property details such as the number of bedrooms and square footage. The property data collection is then delivered to an appraiser who uses it in conjunction with other supporting data, like comparable sales, to complete the appraisal report. Because the appraiser doesn’t need to visit the property, hybrid appraisals are often more cost-efficient than traditional appraisals and up to 50% faster. 

Property data collectors can be real estate agents or brokers, appraiser trainees, appraisers, or other trained professionals. Clear Capital’s property data collectors need a real estate license and must be in good standing with their state board. They must also complete Clear Capital’s certification process.
Hybrid appraisals are accepted by the government-sponsored enterprises, Fannie Mae and Freddie Mac, for some purchase and refinance loans. Fannie Mae’s hybrid appraisal is called a 1004 Hybrid, and Freddie Mac’s is called 70H.