NAR’s Move To Replace Real Estate Appraisers With RVM’s

[NC Appraising]

How many agents are now going to lose their BPO biz.

Now what are they going to do when their on AVM comes in under value?

 

[Julio E. Sune Jr. (FL)]

["C'mon, people! This might be the end of your profession but just think: If Realtors® are doing valuations for the mortage industry no one will ever be turned down for a mortgage loan again! Paradise! The American dream fulfilled!

Remember, if someone is willing to pay it, it must be worth it... Just ask a Realtor®, they'll tell you.

Life is just too good, eh?"]

Maybe the end of the profession for mortgage loan purposes..........But Ha!!!! the beginning of a FVA....[Foreclosure Valuation Appraiser].....

>>>>Investment Value = ARV {As Repaired Value} x .65% - RC {Repair Costs} & HC {Holding Costs}..........Basic IV will be around 10 to 30 cents on the dollar.........

Life will then be VERY GOOD...!!!!!!!!!!!!!

 

[CJHNV]

Lovely.... I pay dues to the organization that's trying to put me out of business?
Our local MLS is almost militant about *protecting* the data from "those who would exploit" all of our hard work for their own profit... now look who's exploiting?

Hmmmm - and will it be filled with the "fluff" that Realtors often use in their listings? Factual?


What about non-disclosure states?

 

[Offshore]

The Judases within the NAR are our biggest enemy.

 

[Julio E. Sune Jr. (FL)]

In the end [or after the NEXT BAILOUT]..........it could just be another ZAIO.......

 

[panappr]

In the end [or after the NEXT BAILOUT]..........it could just be another ZAIO.......

I probably won't be in this business the next time the bubble bursts, but it will definitely be interesting to watch and see who take the blame.

 

[NC Appraising]

I bet the home builders are extremely happy!!

Although we all know that builders and RE agents have never really been that close. :new_all_coholic:

 

[Doug Meyer]

Better keep your Broker License active!

 

[Michigan CG]

Two threads merged.

 

[NC Appraising]

Let's discuss the ramifications of removing the appraiser from the process:


I'll start:

1. As soon as the appraiser is out of the equation, agents will have a free reign on the market and closing prices. Many agents live in and have vested interests in neighborhoods that they work in. Agents are also flippers, investors, etc. They work closely with home builders. This is why I never understood using BPO's. Lenders never made a correlation?

This goes beyond a valuation problem, i.e., cheaper and faster. Appraisers are the eyes and ears on the ground. We keep the system in check. We do much more than simply putting a value on a piece of paper. Checks and balances, something that AVM's can't do.




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