Appraisers' Free Forum

Edd Gillespie wrote:You guys are both my heros and mentors.

With respect to finding and keeping good quality ethical and competent people. I've wondered how that could be done. Obviously, we have problems with that in all professions and walks of life from politicians and preachers.

What would you suggest?

Edd is fishing for another invite to Hootersville even tho there is an open invitation.

benluby wrote:See a lot of reviewers that work in the torpedo category. They'll take a good report and try to rip it apart, solely so that they can attempt to get the customer to start ordering from them.
I'm open to suggestions on how to work around that issue.

I have a simple suggestion. Let the market solve it. If a reviewer is a torpedo artist, that will eventually show up... how excited do you think an investor will be to have the same guy doing appraisals for them?

Steve, in a booming market, a monkey with a typewriter can get away with appraisals for five, six years or so, before things start falling apart.
Most investors and lenders don't bother to check quality during a boom, becuase, just like this one, they simply believe it is a never ending wave of cash. Then, they see it end, and it becomes a witch hunt.

That's probably true. And, probably, just a normal part of doing business in that segment of the market.

There are several factors, IMNSHO, that play into this whole aspect. First comes down to the fact that it is far too easy to even get a trainees/apprentice license. The majority of the people coming in now, and have been for years, are taught the exam, NOT APPRAISAL and appraisal foundations. When all you learn is how to pass the exam, you are NOT prepared to even to understand the basic principals of performing an appraisal, start to end. (For example, just ask a trainee what the dollar volumne of the loans or sales transactions were that they worked on last year - watch for that blank stare and then the question - "why" - "what does that have to do with appraising?")

The next is that reviewing has never been given the "recognition", "education" and "training" aspects it should have been done. Over 25 years and I've only seen the approximate equavilent of maybe 2 or 3 classes (usually from store front schools) offered. Appraisers have not, until recently, reconized the fact that it is in actuality an appraisal assignment as well.

The next, as has been touted time and again, ENFORCEMENT! The current enforcement "factors" (for the lack of a better term) are pitiful! True - you are going to take away a person's means of earning a living - sounds like what you do when you punish someone for accouting "errors", hiding money under the table, "insider trading", DWI, reckless driving that involves an injury or even death.

There are other considerations within my grey matter but I'll let them go for now. I think it would move towards "newbie" bashing, as well as just a continuation of the lack of education and enforcement factors again. One of the recently closed investors (Green Point) used to accept brokered loans with an appraisal and then would order their own appraisal independent and paid full fees, sometimes extra for those "rush jobs". I think the closing of them had nothing to do with what they did recently - I think it was cutting expenses and, IMHO, they cut the expenses in the wrong place.

Otis Key wrote:For example, just ask a trainee what the dollar volumne of the loans or sales transactions were that they worked on last year - watch for that blank stare and then the question - "why" - "what does that have to do with appraising?"

I've got a couple of better ones than that, Otis. Try asking a trainee (or maybe even an appraiser) a question about the time value of money. How many of them do you think really understand that concept? Or, ask a question about value definition, such as difference between MV and Anticipated Sale Price. Last but not least, try out the difference between exposure time and marketing time on a newbie (or even on a number of old hands). Many will not get the answer right, but what is more significant is the large number who simply do not care.

[font=Tahoma]If you can't appraise, review. [/font]

TC wrote:[font=Tahoma]If you can't appraise, review. [/font]

Or you could just spell check everybody else.

you alone would make it a full time job!


TC

"...I have NO PROBLEM with a reviewer shredding one of my reports, although it rarely occurs these days..."

You're a much better man than I.

I resented every poor review. There wasn't one that was justified...not one.

Two of the bone-heads that agreed with my opinion of value, but bombasted me on methodology were reviewing FHA appraisals I'd done. Their reviews of my work was so poor I was requred to respond. When I did...my rating was raised from the 2nd worse scores one could receive to the 2nd best mark you could obtain. The remainder of the cut-throats faired little better after I rebutted them.

The two who disagreed with my opinion of value created situations through their actions that very nearly resulted in law suits.

I came away from everyone of these encounters unscathed, but the time & energy it took to straighten out the mess these ruthless assassins had given birth to was draining. Perhaps I've just got a really low bull-spit tolerance, but just thinking about these hired guns can still annoy me.

Mako wrote:

"...I have NO PROBLEM with a reviewer shredding one of my reports, although it rarely occurs these days..."

You're a much better man than I.

I can't disagree there..............

Mako wrote: I resented every poor review. There wasn't one that was justified...not one.

That is frequently the case. Too many "reviewers" think their job is to cut the value or kill the deal. That is the main reason some sort of reviewer certification should be developed by someone. In the Appraising Professional Only category, there is a place to list your name if you would like to assist in fighting bad reviewers. It is for those of us willing to do peer reviews prior to testimony or hearings. If someone shreds your report and sends it to the state, it becomes a your word against their word argument. But if you can have it reviewed by a third party, then that third party can be called as a disinterested expert to help the board come to a reasonable conclusion. If the review is egregious, then that appraiser should also face the board.

Mako wrote: They're reviews of my work was so poor I was requred to respond.

(I assume you meant "their"....just be glad you didn't type in all caps........) I look forward to the response. I LOVE to show where they fucked up.

Mako wrote: Perhaps I've just got a really low bull-spit tolerance, but just thinking about these hired guns can still annoy me.

Did you mean "bull shit" tolerance? Not sure bulls spit that much.....they will sling slobber pretty good if they are being ridden, but llamas and camels tend to do the spitting. Why do you let them annoy you? Why do you give them that much power over your life? to me they are like mosquitoes......if they attack you, swat the hell out of them and go on about your business......and if you get the chance to help someone else swat them, do it for the health of the profession.

Not having had similar experiences, I can still sympathize, Mako. I guess that, a lot of the time, our stance on such issues is colored by our past.

mr rex wrote:

Edd Gillespie wrote:

mr rex wrote:I disagree with the 5 year rule. The worst appraisals I have ever seen were from a gentleman with a license number between 100 and 150. I did my first review before I had done 50 appraisals (of course under the thumb of a CG). I agree that there should be special training and testing, but time doesn't make appraisers, understanding of USPAP, SOW, and supplemental standards etc does. Some old timers I meet in CE classes shouldn't be allowed to vote, drive, or breed and couldn't appraise a doghouse without a sales price or owners estimate, but they are "tenured" appraisers.

I will gladly meet you anywhere you want, and we will compare intellect and Dick sizes if thats what flips your trigger, but don't dare give me the kind of bullshit you just posted.

Rex, after reading the above, for some reason, the following medical condition came to mind.

http://en.wikipedia.org/wiki/Micropenis

Mako wrote:

"...I have NO PROBLEM with a reviewer shredding one of my reports, although it rarely occurs these days..."

You're a much better man than I.

I resented every poor review. There wasn't one that was justified...not one.

Two of the bone-heads that agreed with my opinion of value, but bombasted me on methodology were reviewing FHA appraisals I'd done. They're reviews of my work was so poor I was requred to respond. When I did...my rating was raised from the 2nd worse scores one could receive to the 2nd best mark you could obtain. The remainder of the cut-throats faired little better after I rebutted them.

The two who disagreed with my opinion of value created situations through their actions that very nearly resulted in law suits.

I came away from everyone of these encounters unscathed, but the time & energy it took to straighten out the mess these ruthless assassins had given birth to was draining. Perhaps I've just got a really low bull-spit tolerance, but just thinking about these hired guns can still annoy me.

I can top that, I had a FHA bozo give me lowest rating possible because he found a better sale next door to the subject. Too bad it was listed and sold 1 month after I inspected the property. Frickin' moron. Then backpedaled and claimed the bad rating was for other factors. Luckily he was really old and died soon thereafter.

TC

TC wrote:[font=Tahoma]If you can't appraise, review. [/font]

Bite me, Spell Boy ................