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General Questions On Appraisal Industry

Discussion in 'Ask an Appraiser' started by Scott LeGendre, Jun 14, 2005.

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  1. Scott LeGendre

    Scott LeGendre New Member

    0
    Jun 13, 2005
    Hello all I have a few general questions about the appraisal industry that maybe someone could provide some help, or at least point me in the correct direction.

    1. I'm sure that appraisers must be listed in a database by license number somewhere. Does anyone know where I could find this info? To make it a little more clear, if i wanted to look up an appraiser (in ANY discipline not just real estate) then where would go to search to view his license info?

    2. Is there an industry standard for pricing on appraisals? Meaning, if I have a gun from this era then is there a base industry standard to how much an appraiser should charge me for the appraisal? (And i mean for all items, houses, cars, jewelry, and paintings, whatever)

    Thank you all kindly for reading my post and providing any info-

    Sincerely,
    Scott Le Gendre
     
  2. Tawfik Ahdab

    Tawfik Ahdab Senior Member

    0
    Feb 19, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Oregon
    Welcome to the forum, Scott.

    The answer to your first question is that licensed and certified real estate appraisers are listed in the databases maintained by the Appraisal Subcommittee.

    The link is : http://www.asc.gov/default.aspx?id=11

    As to your second question, we in this forum deal overwhelmingly with real property appraisal, although some participants in this forum also dabble in personal property appraisal.

    There is no industry standard on the pricing of real property appraisals, as that depends on property type, location, complexity of the property, intended use of the appraisal, and the scope of work, among other considerations.

    I cannot speak for personal property appraisals, but I know that at appraisal fairs and antique shows, many personal property appraisers charge about $15 for a quick value opinion.

    Since adherence by personal property appraisers to the Uniform Standards of Professional Appraisal Practice (USPAP) is voluntary in most states, be sure to obtain an appraisal from an appraiser who certifies his/her appraisal in accordance with USPAP. It may cost more, but it's well worth it.

    Here's the link to USPAP so that you may know more about appraisal standards:

    http://209.213.217.34/html/USPAP2005/toc.htm

    The sections that apply to the development and communication of personal property appraisals are Standards 7 and 8, respectively.

    All other rules apply, if the appraiser represents his services as adhering to USPAP.

    I hope this helps.
     
  3. Otis Key

    Otis Key Elite Member

    0
    May 15, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New Mexico
    Scott, welcome to the forum. Hopefully we can help you along. Tawfik gave the best answers for Real Estate Appraisers. However, I gathered, from your post, that you're more interested or oriented towards personal property (your reference about the gun). The mandate and laws that apply to real estate appraisers don't necessarily apply to personal property appraisers.

    USPAP "is" intended for appraisers and users of appraisal services, but it is primarily, as of this time span, oriented towards real estate appraisals. Appraisers of personal property and business appraisers are not always bound by the same standards, although it would be nice.

    For personal property appraisals, I would recommend someone affiliated with one of the national organizations, such as ASA. You can at least hope that there is some reliability.

    As far as looking up appraisaers, each state has a current list of licensed real estate appraisers. Some states might have a list of other aspects of appraisal practice, but there is no federal mandate that I'm aware of at this time. Most states will only publish a finding and required "punishment" for errors, faults or violations but will not disclose any secifics about the complaint filed.

    Hope it helps.
     
  4. Scott LeGendre

    Scott LeGendre New Member

    0
    Jun 13, 2005
    Hey guys thanks for the quick replies. Yes that info helps greatly, but i still am kinda confused on perosnal property appraisers. They do have a license number right? There is no way to look up that license? How would i know that this appraiser who wants to appraise my personal propery is actually an appraiser?
     
  5. Tawfik Ahdab

    Tawfik Ahdab Senior Member

    0
    Feb 19, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Oregon
    In most states if not all, personal property appraisers are not licensed. Hence the importance of relying on an appraiser who certifies his/her appraisal in accordance with USPAP. It's the highest level of adherence to best practices you can expect given a lack of licensure.

    Basically, anyone can call himself or herself a personal property appraiser. Fraud and self-dealing can be common absent regulation.

    You may want to check with the department of consumer affairs in your state for any regulations that may apply to personal property appraisers, including business licensure.
     
  6. Scott LeGendre

    Scott LeGendre New Member

    0
    Jun 13, 2005
    So at the very least what do all personal property appraisers have in common? A business license?

    And so if I was going to promote personal and real property appraisers together then the best way to do that is to make sure that they are part of USPAP?

    Within USPAP I can view "any appraiser" who is a member? If so, what is the info i can view?

    You have been a really big help
     
  7. Farm Gal

    Farm Gal Elite Member

    0
    Jan 14, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Nebraska
    Scott:

    USPAP (Uniforms Standards of Professional Appraisal Practice) is kind of a minimum that State Licensed Appraisers must adhere to... however in reality many states neither require USPAP adherance for individuals who present themselves as appriasers be it real or personal property. Real Property Appraisers who operate in areas where certain state or federal standards apply are SUPPOSED to adhere to these stadards under penalty of law (and losing thei state licensure).

    The ASC site to which you were referred does list Real Property Appraisers from all states and I beleive some 'other' appraisers (of this I am not certain) in some states?!!? :unsure: but is probably *not* a good resource for personal property in most areas.

    And the guy with lots of "professional stamps" and certifications of membership may have some of them from an organization which also licenses cats. <_<

    If you are trying to build yourself a business through a one-stop web-shop listing all kinds of licensees I'd be real careful not to appear to endorse any individual or business in the process of listing them... could cost you money.

    If you are looking for a reputable way to 'value' personal property - talk to some estate attorneys in your area and see which persons they think come closest to ACTUAL sale values of the various types of property... cause they would hear the gripes from executors who consider the appraisals useful or worthless.

    FWIW some of the 'personal appraisers' with little or no license and professional affilation in this or that tend to be the sharpest and have no ax to grind...

    It is best to avoid any individual(s) who offer to appriase and then purchase your property. Some are less than honest about the REAL value. :angry: but are happy to sell your goods for profit and love o money~
     
  8. Jo Ann Meyer Stratton

    Jo Ann Meyer Stratton Elite Member

    16
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    USPAP stands for Uniform Standards of Professional Practice and is a guide exactly that--the practice of appraisal within an ethical framework. Appraisers are not "members of USPAP" but most states require that real estate appraisers develop and prepare reports in compliance the guidelines outlined in USPAP. Few state license personal property appraisers (in fact I don't think a single state does). There fore compliance with USPAP is voluntary for personal property appraisers unless they are a member of a professional appraisal organization. The seven professional appraisal organizations that are members of the Appraisal Foundation require all of their organization members to comply with USPAP. One of those organizations is the American Society of Appraisers (ASA), one of their main disciplines is personal property appraisal, another discipline is real estate appraisal. The other six organizations are almost totally real estate appraisal related. Non members of professional appraisal organizations can and should also complete their appraisal assignments in compliance with USPAP and are require by state law to do so when it is an appraisal of real property. But appraisal assignments for personal property is not required by law to be in compliance with USPAP. If someone contacts an appraiser--the first qualification they should require of that appraiser is compliance with USPAP regardless of law or affiliation. The best chance of that happening in the personal property appraisal world would be to contract with a member of a professional organization.
     
  9. Scott LeGendre

    Scott LeGendre New Member

    0
    Jun 13, 2005
    So then basically all those appraisers on Antique Road show are just people who aren’t necessarily appraisers, they are basically people who have a good understanding of how much something cost’s or is a general appraiser that belongs to some sort of organization?

    What are the benefits of joining an organization, not from the appraisers view but from the customers view?

    And-
    If I were going to advertise appraisers, then the best way would probably be to make sure they belong to one of the seven professional appraisal organizations that comply with USPAP?
    Regardless of the discipline of appraisals they do?

    With that said, it seems I can only display the license info for real-estate appraisers, since they are the only ones that need licenses, and the best place to do that is through ASA?

    I hate to be redundant; I’m just trying to get a really good grasp on this, thanks for your patience and understanding everyone.
     
  10. Farm Gal

    Farm Gal Elite Member

    0
    Jan 14, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Nebraska
    scott:

    you need a lot more education than we are able to give you... Start by contacting some of the societies and such in the vaarious disciplines.

    this idea has already been milked and if you are doing a start up you'll have to build a better one than the one already out there.

    http://www.appraisernames.com/default.asp
    covers all disciplines ain't getting a lot of hits and few folks are willign to pay to be one of the listed individuals.
     
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