Appraiser independence

[gregb]

GREG B-CAN- AND I all grew up in Claremont CA which is in Los Angeles County, it's a College Town and probably at least 85% blue. There is always some protest going on and even at 13 years old I remember weekly protests. The Village is were the College students and Professors and Old hipsters like to hang around. My wife is a born and raised New York from Manhattan and she calls it the Greenwich Village of SO CA. Anyway everyone is lock step into the same ideology but it's no longer a place where someone can have a dissenting view, but I enjoy it because I get to tell PHD students to quit paying on their $75,000 student loans, because your either going to get them forgiven or the world comes to an-end in 11 years anyway. Anyway the MAGA hat was a joke because I voted for Putin : ) LOL

Your parents probably regret not boarding you out at Webb...

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Learn more about The Webb Schools--a diverse, global boarding and day student community in Claremont, California. Enjoy a student film entitled, "Together at Webb."

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[ucbruin]

Perhaps but you make no sense. Why should I "just do it" and appraise a property knowing that the person getting the appraisal knows the procedure to file a complaint, is one of my competitors, and who can review and vet my report far better than average Joe? You got pretty personal yourself basically saying those who eschew doing those kinds of jobs are scared to let the public see our work...as if it were badly flawed and we know it?

No, I know enough human nature to see that people who don't get their way do 2 things. They blame someone else of incompetence and they assert their position on the basis of authority. "I'm a [insert - Realtor, builder, contractor, appraiser], I know more than you." "You didn't value my [pool, ADU, barn, landscaping, granite countertops, crown molding, fireplace] correctly." If I go out and there is a contract for $500,000 and I clearly know that the property won't appraise a dime over $300,000. I do not complete the report. I send it back and say I cannot do it. Why? Someone is either trying to fool me, or they have unrealistic expectations....I am not going to play their game. I don't care how honest you are, when you are dealing with crooks, you cannot win this game.

What requirement do I have to endure further torture when I can avoid it? It's like divorce. That is only "properties that don't change, comps that don't change..." Wanna go to court or before the board? Then do divorce appraisals for awhile. They are high danger and only a high fee is worth it. An appraiser I know lost her license over one for a miserable $350 fee....and the complainer also complained about both of her own appraisers and one of them got whacked and the other - a long time real estate and appraisal teacher - had the temerity to die before they could sanction him. So why do a high risk appraisal for peanuts?

Because "appraisers gotta appraise" right?

Seriously, from posts I've read on the AF (including some from you)....
Anyone can file a complaint....

As with every report you complete....
Do your job because anyone can file a complaint....

 

[gregb]

Certain appraisal jobs are riskier than others in terms of probability of negative reactions with consequences. During the preceding two years I have become more discerning in the work taken on.

 

[ucbruin]

Certain appraisal jobs are riskier than others in terms of probability of negative reactions with consequences. During the preceding two years I have become more discerning in the work taken on.

"During the preceding two years I have become more discerning in the work taken on."


After 30 years of appraising....
In the past 2 years I too have become more discerning....
I believe that's because in the past 3-5 years prior....
The clients became less loyal....

 

[James Micozzi]

Hello,
first of all, excuse me if I am erratic in my post I am a little bit upset.
I would like your input in this matter; I did an appraisal for a purchase. The buyer, told me the day of the inspection, is a Certified General for many years. The appraised value came less than 4% below the contract price. This morning the buyer (CG) sent me a threatening e-mail complaining about the low value. I contacted the AMC, they haven't responded yet, I didn't reply to the buyer directly. I need some input because I honestly feel threatened and I think I won't be able to complete a reconsideration of value if requested. I think I should report him for coercion. I have had a few upset borrowers before but no one was a Certified General. I have done very complete recosiderations of value when requested. I try to be honest, accurate and professional all the time. This job is a very important source of income for my family. But this time I feel the buyer should have known better and these actions made me feel I am not independent anymore to keep working on this appraisal. I don't wont to report to any agency because as I said before I need this job and I can't be distracted with a dispute. Is there any way I can request to be released from the assignment? Never heard of that but that is what I want. Thanks in advance for your kind responses.

Why do you feel threatened for? This is part of the business. Deal with it in a professional manner.

 

[glenn walker]

My father was in WW-2 at 17 years old and was a hard man to deal with - But he is still alive and he was correct - He is a guy who was on the Battle Ship Iowa which is now in the LA port and he gives them tours LOL

 

[Terrel L. Shields]

Anyone can file a complaint....

Certain classes of people are more prone to do so and your "peers" rise to the top of that cesspool. Remember that my state newsletter once had to tell us that if you intend to turn in someone based on your review then your review will also be reviewed and that they were sanctioning as many of the reviewers as were the target of that review...so the peer likely to complain against a good appraiser is likely to be an inferior appraiser unawares of their own shortfalls or someone who seeks to belittle the competition by finding fault with everyone, howbeit myopic to their own work. Our investigator told us recently that he had never sat down with a person being complained about and have them admit they knew they were violating USPAP. None of them believed that when they wrote the report. I am certain no appraiser turns someone in not totally convinced that the person is a saphead that needs banned from the business.

The clients became less loyal....

Certainly.

Certain appraisal jobs are riskier than others in terms of probability of negative reactions with consequences

Certainly that is all I am saying. Pick your fights. As I age, I certainly don't take any and all assignments. I did when I was trying to expand my knowledge and test the flight envelope of my skills...I know my limits now, so I stay within them....and pull those in as I age just as I don't make as risky investments that I would have in 1980.

 

[Tim The Enchanter]

I almost never know what the borrower does for a living. I just avoid the extra weird properties. Or maybe quote higher if it is just kind of weird.

Just got one today. First they asked for quote of fee and turn time. I quoted $600 and explained why the higher fee. Then it popped up in my queue with a fee of $425. I countered with the same explanation and $650. I am doing it for $650.

 

[Econobot]

Hello,
first of all, excuse me if I am erratic in my post I am a little bit upset.
I would like your input in this matter; I did an appraisal for a purchase. The buyer, told me the day of the inspection, is a Certified General for many years. The appraised value came less than 4% below the contract price. This morning the buyer (CG) sent me a threatening e-mail complaining about the low value. I contacted the AMC, they haven't responded yet, I didn't reply to the buyer directly. I need some input because I honestly feel threatened and I think I won't be able to complete a reconsideration of value if requested. I think I should report him for coercion. I have had a few upset borrowers before but no one was a Certified General. I have done very complete recosiderations of value when requested. I try to be honest, accurate and professional all the time. This job is a very important source of income for my family. But this time I feel the buyer should have known better and these actions made me feel I am not independent anymore to keep working on this appraisal. I don't wont to report to any agency because as I said before I need this job and I can't be distracted with a dispute. Is there any way I can request to be released from the assignment? Never heard of that but that is what I want. Thanks in advance for your kind responses.

Send an email back or place a phone call to the borrower simply stating "state and federal laws prohibit me from discussing the appraisal with you, I'm sorry about this but my hands are tied. Please correspond with your lender and they will contact me, have a nice day." Simply informing someone why you are doing what you're doing is infinitely better than appearing to ignore them... I had to teach my mentor about this very thing years into his practice, simply returning correspondence with factual information is putting out a fire and helping the complainant understand the process. It ultimately will promote a better outcome than being afraid to handle the situation, I use this verbiage with owner/borrowers all the time, I've never once been refuted. I have however been told, "the previous appraiser didn't act like this"... I simply gave a blank stare back.... haha the subtle nuances of the biz you get to enjoy, don't be scared about it. Be correct...

 

[Mike Kennedy]

If a person lets you know they are an appraiser, it is a great time to go back to the office and say you cannot complete the report and let them get someone else. Risk risk risk...I would tell the AMC the conversation and do not take any calls from the appraiser...let them text you or email you. You have the email. It is a direct threat. Keep it and include it in the ROV if you get one.

"let them text you or email you."

Sorry, I disagree. Loose lips and or keyboard fingers sink ships.......

Strongly recommend NOT discussing the appraisal with any party who is NOT your Client. Refer any and all emails, phone calls, letters..etc to the LENDER. Reply to any written communication from your Client/ the Lender - ONLY.

At all costs - avoid "she said, he said, they said" nightmares.