Accurate Group's Appraiser Selection Practices Expose Troubling Industry Tactics

[George Hatch]

"Qualifications" is a separate topic from "competent performance". Every single MAI/SRA story I have involves appraisers who had excellent qualifications but who were not performing to their own competency. That "not working to their own competency" being the case in all or almost all other bad appraisals I've ever seen.

IMO the myth that the AMC appraisers are incapable of nominally performing to specs is exactly that, a myth. A strictly self-serving myth. Appraisers might not be working to their competency and training but that doesn't mean they were never exposed to the training in the first place, or that they are incapable of figuring it out if faced with the ultimatum.

When it comes to nominally sufficient to purpose and use, I believe we have a lender problem (will sometimes accept less), not an incompetent appraiser problem (incapable of doing any better).

 

[Mejappz]

If that's the case, then the argument should not be about whether the person had visited the state, but whether the person was competent to develop credible results, no?

I'm trying to find that thread. I'm pretty sure there was a significant GLA discrepancy, but I'm not certain if it was for a desktop or hybrid. Also, I don't remember if the appraiser was in or out of state.

 

[sputnam]

The unethical stakeholders have been caught again. Remember the FHFA report and the Philadelphia report, where AMC hired appraisers who were not geographically competent? Keep in mind that the GSEs do not allow on-the-job training to gain competency.

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Accurate Group's Appraiser Selection Exposes Troubling Tactics

Accurate Group appears to have manipulated the appraisal assignment process, favoring the lowest bidders over the appraisers best qualified.

appraisersblogs.com

The appraiser decides whether he/she is competent for an assignment or not. It's not the lender's problem... enforcement wise. I had a concern about Geo-competence in some hybrids I was asked to review. The property was in NC. The appraiser in Wyoming. I called the NC Appraisal Board and was told... "Well, maybe he went to college in NC." No one actually seems to think it's important... except for some appraisers.

 

[djd09]

accurate group is right around the corner from me...i rather stick hot needles in my eyes then work for those low lifes...but they are good enough for TAF

 

[Bobby Bucks]

I remember now—there was an appraiser who had their house appraised by Accurate Group and Groundworks. She shared the appraisal here, and let me tell you, it might just be the worst appraisal I've ever seen. I'll try to find the thread; it went on forever—it was great. If I remember correctly the GLA was off by 400 Sf even though that data was available online. it took people here about two minutes to get the right data.LOL

The one I remember reading about was a desktop and the guy went 2 miles for comps in a densely populated area. The subject was in a modest, mostly Q4 subdivision and all the comps were in a gated Q2-Q3 subdivision. The most memorable part was not that the appraiser was 1500 miles and clearly whorrred up the value, it seeing a picture of the AMC honcho. It was the worst looking haircut I’ve ever seen in my life. Casting call for the “Munsters” TV show.

 

[NC Appraising]

The appraiser decides whether he/she is competent for an assignment or not. It's not the lender's problem... enforcement wise. I had a concern about Geo-competence in some hybrids I was asked to review. The property was in NC. The appraiser in Wyoming. I called the NC Appraisal Board and was told... "Well, maybe he went to college in NC." No one actually seems to think it's important... except for some appraisers.

It matters to more than just appraisers. Go to some of the others forums or to a realtor get to gathering.

Yeah, lenders and the gses could care less. Public trust? Yeah, when the public sees a Wyoming appraiser appraising a NC home...all credibility goes out the window.

1 top issue for re agents.....appraisers not knowing the market....the out of the area appraiser. I'm speaking of the 2 county out of the area away appraiser and not the Wyoming appraiser. Geez.

Yes, anyone can put a number on a report. You do not need geographic competency. Anyone can fill out a form. I only cover two counties and I was born in the area that I appraise in. There are still parts of the city that I do not appraise in. To much to keep up with.

Sure, I could throw a number on it, and I may get lucky. Or I better hit the number because if I don't, that Re agent that knows that neighborhood like the back of their hands are going to make you look stupid.

Take private assignments as an example. There are not paying me for a number. They can get a number from Zillow. They are paying me because they expect me to be a expert in the market that I appraise in.


That's why these appraisers hit the number because they know that they are not qualified to appraise in all of the areas that they say there are competent to appraise in.

 

[shrubberyvaluation]

It matters to more than just appraisers. Go to some of the others forums or to a realtor get to gathering.

Yeah, lenders and the gses could care less. Public trust? Yeah, when the public sees a Wyoming appraiser appraising a NC home...all credibility goes out the window.

1 top issue for re agents.....appraisers not knowing the market....the out of the area appraiser. I'm speaking of the 2 county out of the area away appraiser and not the Wyoming appraiser. Geez.

Yes, anyone can put a number on a report. You do not need geographic competency. Anyone can fill out a form. I only cover two counties and I was born in the area that I appraise in. There are still parts of the city that I do not appraise in. To much to keep up with.

Sure, I could throw a number on it, and I may get lucky. Or I better hit the number because if I don't, that Re agent that knows that neighborhood like the back of their hands are going to make you look stupid.

Take private assignments as an example. There are not paying me for a number. They can get a number from Zillow. They are paying me because they expect me to be a expert in the market that I appraise in.


That's why these appraisers hit the number because they know that they are not qualified to appraise in all of the areas that they say there are competent to appraise in.

Why would a realtor care. An out of town number hitter over a local doing a credible report. The rest are just value too low excuses to fit in the box. Do they complain when the 2 county away makes value or the person in walking distance does not do they claim they are happy the appraiser is local?

 

[NC Appraising]

Why would a realtor care.

Come in low....the first thing that they will research and complain about is if the appraiser is not from the area.

I cannot blame them.

Skippy the appraiser and the not so good appraiser, sorry, they are out there, has a business plan to hit the value and to make it work because they know that they cannot defend their work. Hit the value, make the deal go through, collect the check. Ofcourse if they hit the value, re agents do not care....or some honest buyers agents care...some really want to know the value to protect their client.

 

[George Hatch]

Everyone has seen local appraisers do exactly the same thing (chasing comps by price instead of proximity/similarity). "Bad" doesn't suddenly worse because the appraiser isn't local.

I could drop every one of you into one of our subdivisions outside the coastal zone with the confidence that you could figure it out if you spent the time/effort with the data to figure it out. This ain't 1980 no more, and apart from the non-disclosure markets we are not dependent on shopping in the same supermarkets and sending our kids to the same schools in order to sift for location and similarity.

Because if that's how you measure competency then you are all in violation every single time you drive to the next town 10 miles away and do an appraisal in a subdivision you have never worked in before.

 

[NC Appraising]

Everyone has seen local appraisers do exactly the same thing (chasing comps by price instead of proximity/similarity). "Bad" doesn't suddenly worse because the appraiser isn't local.

I could drop every one of you into one of our subdivisions outside the coastal zone with the confidence that you could figure it out if you spent the time/effort with the data to figure it out. This ain't 1980 no more, and apart from the non-disclosure markets we are not dependent on shopping in the same supermarkets and sending our kids to the same schools in order to sift for location and similarity.

Because if that's how you measure competency then you are all in violation every single time you drive to the next town 10 miles away and do an appraisal in a subdivision you have never worked in before.

You can also say that sometimes it takes an outside appraiser to break up the corruption in a given area.

We will never agree on this and commercial appraisers tend to be a little bias on this because some appraise in all fifty states, but I see what you are saying.

I am a big protect the public trust person. This is why our credibility is in the shet tank with the public and re agents.

Do some SEO...I bet some are "appraisers near me". Appraisers in Charlotte nc".

I can confidently say that no one that is located one state are searching for an appraiser that is located in another state or a different county....location location location.

I hate to say this, but I would hire a local re agent from the same area to provide a cma rather than an outside appraiser that covers 5 counties.

More than likely, that appraiser can only provide a number and a canned statement. The agent can provide a number, a how, why and tell the story in detail.


In other words, the appraiser should know the subdivision or the market area better than the client, borrower or seller. That is why they hired you.