Adapt or Die?

[Tom Foster]

Where have all the good times gone ??

Will the past 20 years of appraising be know as the "good old days" ?

Time to start looking for other ways to make a living ?

 

[Stone]

Stone, you are following the adventures of Ray M and the WI board, I assume. I'll cut you some slack since I don't want to goad you into public comments and possible retribution, but aren't we arguing how many stones are in the sac on the back of the USPAP laden swimmer?

It is definitely an uneven playing field, and it is not just because of standards. NAR members have reasonably high ethical standards when it comes to BPO's, just minimal enforcement options. Whereas, in WI, an appraiser can follow USPAP flawlessly and still get busted at the board level via creative interpretation. Most appraisers don't have pockets, pride and willpower as deep as Ray.

I'm hardly worried about retribution from the WI board. Ray knows why I've stopped posting in those threads. We have some differences of opinion on a few items, but I don't wish to sound like I'm arguing against his overall situation (because I'm not) so it is better if I just stay out of it.

I don't see how that relates here, though. If, as you write,

an appraiser can follow USPAP flawlessly and still get busted at the board level via creative interpretation.

What makes it more difficult for this type of nonsense product than for a different appraisal product? Sorry, but I don't buy it and really believe that it is just about some appraisers wanting to avoid complying for some reports, while maintaining their appraiser status.

 

[JSmith43]

I don't see how that relates here, though. If, as you write, Quote:
an appraiser can follow USPAP flawlessly and still get busted at the board level via creative interpretation.
What makes it more difficult for this type of nonsense product than for a different appraisal product? Sorry, but I don't buy it and really believe that it is just about some appraisers wanting to avoid complying for some reports, while maintaining their appraiser status.

A risk premium is (should be) baked into the pricing. Simple as that. An appraisal of suitable scope to provide the minimal level of credibility to be useful to a BPO client is likely to be scrutinized and cut to ribbons more than a product more familiar.

The pioneers get the arrows and the beta testers get blue screens. The obvious solution is to allow declarative standards. In other words, a licensed appraiser, a two hatter, should be able to declare if the work is to the client's BPO standards, to USPAP, whatever.

This stuff about "can construed to be an appraisal, therefore...." is simply BS. Clear labeling and declaration of the work product standards followed should be the rule for the multiple hatters. Expressing an opinion of value under one's declared standard should be a right guaranteed by a constitutional amendment, if necessary, IMO. Appraisers need some actual leadership or they will wander in the desert for 40 years.

 

[Webbed Feet]

To All,

I cannot argue either Stone's or Mentor's latest posts. In itself, that is saying something...

Webbed.

 

[JSmith43]

To All,

I cannot argue either Stone's or Mentor's latest posts. In itself, that is saying something...

Webbed.

Well, we must have bracketed the issue as required by the Oregon Board?

 

[JSmith43]

It was a joke, Webbed. We value your scrutiny.:icon_mrgreen:

 

[Stone]

I'll add, again (just to be clear), that I do see a large problem with RE agents doing BPOs for mortgage clients. Not because they couldn't produce a decent product, but because that is an unreasonable advantage. If their products are going to be treated as appraisals, they should have to do them as such.

What reason is their to use a realtor for this type of work, other than "fast and cheap"? And, where has that put us over the last several years?

 

[JSmith43]

I'll add, again (just to be clear), that I do see a large problem with RE agents doing BPOs for mortgage clients. Not because they couldn't produce a decent product, but because that is an unreasonable advantage. If their products are going to be treated as appraisals, they should have to do them as such.

What reason is their to use a realtor for this type of work, other than "fast and cheap"? And, where has that put us over the last several years?

I am in general agreement with the part I put into green. And, that is the main point of interest, IMO. My view of how to achieve a level playing field is different, but there are at least two distinct approaches to move appraisers closer to the goal of having a level playing field.

And, one approach is to put an equivalent sack of rocks in the BPO persons backpack so we can all toil more and be at greater risk, treated in total equality, like the peons in the process, as we deserve, I guess.

 

[ddnma]

I'll add, again (just to be clear), that I do see a large problem with RE agents doing BPOs for mortgage clients. Not because they couldn't produce a decent product, but because that is an unreasonable advantage. If their products are going to be treated as appraisals, they should have to do them as such.

What reason is their to use a realtor for this type of work, other than "fast and cheap"? And, where has that put us over the last several years?

I think it is more than that, if most of the residential appraisals were accurate, the users would see little reason to use BPOs. The fact is, they aren't getting what they want and need from appraisals.

 

[Stone]

I am in general agreement with the part I put into green. And, that is the main point of interest, IMO. My view of how to achieve a level playing field is different, but there are at least two distinct approaches to move appraisers closer to the goal of having a level playing field.

And, one approach is to put an equivalent sack of rocks in the BPO persons backpack so we can all toil more and be at greater risk, treated in total equality, like the peons in the process, as we deserve, I guess.

I guess the sack of rocks, as you like to put it, doesn't bother me the way it does some. I don't really believe that USPAP is the problem. It isn't perfect, but it does allow appraisers to offer products other than what most provide.

Given your general views on government regulation, I doubt we would ever agree on an answer. Personally, I'd rather let the realtors do this type of garbage than muddy up the waters regarding what an appraisal is any further. But, even if allowed to do it, this isn't the type of work I'd want, anyway.