Appraisal With No Inspection By Appraiser?

[J Grant]

The 2 plus years of apprentice time where supervisor accompanied trainee on inspections WAS the "formal " training period. And it was not always about rote aspects of inspections, since running a tape or pointing a laser or taking a photo is the least of it. It was about developing judgement of quality, repairs and positives and negatives of properties, sites and neighborhoods - not in isolation but as to how they integrate with value.

 

[J Grant]

The 2 plus years of apprentice time where supervisor accompanied trainee on inspections WAS the "formal " training period. And it was not always about rote aspects of inspections, since running a tape or pointing a laser or taking a photo is the least of it. It wa about how to notice positives and negatives of properties, sites and neighborhoods and not in isolation but as an integration with value.

 

[DWiley]

The 2 plus years of apprentice time where supervisor accompanied trainee on inspections WAS the "formal " training period. And it was not always about rote aspects of inspections, since running a tape or pointing a laser or taking a photo is the least of it. It was about developing judgement of quality, repairs and positives and negatives of properties, sites and neighborhoods - not in isolation but as to how they integrate with value.

So it is the training we received from a person with no training themselves that makes us so qualified with regard to inspections.

In most cases, for what portion of that two year period do supervisors actually accompany a trainee on inspections? I would say that accompaniment for the full two years is very rare, and that in most cases it only occurs for the minimum period required by the applicable law in a particular state.

 

[George Hatch]

I'm not sure The Appraisal Foundation has any business getting involved with a "Valuation Service" that doesn't involve "Appraisal Practice". If the AQB wants to add requirements for property inspection to their appraiser qualifications criteria as a means of bolstering that skill set when performed by an appraiser within the scope of an appraisal assignment that would be within their purview, but technical property inspections? I'm not seeing that.

Speaking of technical property inspections I would think that if most appraisers thought about that they'd be even less enthusiastic about assuming the liability for performing a "property inspection" without being qualified to perform the inspection at the professional level. Many appraisers already disclaim that level of expertise in their appraisal reports and instead relate their level of "inspection" to be limited to valuation purposes.

The "inspection" comes to this: If the only thing the individual is doing is inspecting the property and they are not developing any analyses, opinions or conclusions that are being used *directly* in the appraisal itself then are they engaged in appraisal practice? I don't think they are. If i'm reading an MLS listing description of "fabulous" or a technical property inspection report whatever their conclusions are about the property don't comprise my opinion. My opinion occurs when I decide what I think about the information they're providing. And in at least some cases will be very different from that expressed in the MLS listing or a property inspection report.

Appraisers have the common experience with the use of other people's work, so I don't see why it would be controversial to make the distinction between what is and isn't the appraiser's opinion and when the appraiser is developing that opinion.

Home inspectors or building inspectors have never been considered by appraisers to be engaged in appraisal practice. So when it comes to "3rd party inspectors" it seems to me that the only difference between the inspections we're talking about with the hybrids vs the professional home inspectors is the level of qualifications and the extent to which they're inspecting; not their roles.

 

[Joe Flacco]

https://www.linkedin.com/learning/a...ors/intro-to-shooting-architectural-interiors

Free for 24 hours.

 

[J Grant]

So it is the training we received from a person with no training themselves that makes us so qualified with regard to inspections.

In most cases, for what portion of that two year period do supervisors actually accompany a trainee on inspections? I would say that accompaniment for the full two years is very rare, and that in most cases it only occurs for the minimum period required by the applicable law in a particular state.

For decades, state licensing, FHA , Fannie and lenders thought the mentor training with accompanying on inspections was the gold standard. The mentors were trained by their mentors, and a number of mentors have construction or home inspection and related backgrounds . , others have inspected and walked many properties over the years, took FHA classes on it etc

This double talk to dismiss decades of a system working well to accommodate hybrids for a day faster to bank profits, reminds me of politicians- they say one thing one day and the next take a position 180% opposite.

 

[ucbruin]

You obviously have not worked for a large financial institution (or at least you have not worked at one for a long time) if you think that p0rn, social media (twitter, etc.), or even a some internet shopping sites make it through our internal firewall.

That's not the point.....

 

[J Grant]

I'm not sure The Appraisal Foundation has any business getting involved with a "Valuation Service" that doesn't involve "Appraisal Practice". If the AQB wants to add requirements for property inspection to their appraiser qualifications criteria as a means of bolstering that skill set when performed by an appraiser within the scope of an appraisal assignment that would be within their purview, but technical property inspections? I'm not seeing that.

Speaking of technical property inspections I would think that if most appraisers thought about that they'd be even less enthusiastic about assuming the liability for performing a "property inspection" without being qualified to perform the inspection at the professional level. Many appraisers already disclaim that level of expertise in their appraisal reports and instead relate their level of "inspection" to be limited to valuation purposes.

The "inspection" comes to this: If the only thing the individual is doing is inspecting the property and they are not developing any analyses, opinions or conclusions that are being used *directly* in the appraisal itself then are they engaged in appraisal practice? I don't think they are. If i'm reading an MLS listing description of "fabulous" or a technical property inspection report whatever their conclusions are about the property don't comprise my opinion. My opinion occurs when I decide what I think about the information they're providing. And in at least some cases will be very different from that expressed in the MLS listing or a property inspection report.

Home inspectors or building inspectors have never been considered by appraisers to be engaged in appraisal practice. So when it comes to "3rd party inspectors" it seems to me that the only difference between the inspections we're talking about with the hybrids vs the professional home inspectors is the level of qualifications and the extent to which they're inspecting; not their roles.

Beyond any technical knowledge, ( some appraisers have construction or home inspection bg) the differential between inspectors is the way he person evaluates what they see.

An appraiser inspects a property with valuation in mind. If they see a repair item it is not just rote, it;s how much it might affect value, and is it minor or a ss/ issue to condition on inspection etc ( for one example)

A RE agent inspects in mind with getting a listing or how to describe a house in a glowing ad. RE agents see properties through a rose colored haze that blocks out any negatives.

A home inspector inspects noting repairs and cost of them est life of a component. They are not concerned with value or appeal etc, such as if the granite is dated POS or the latest trend /exotic worth more.

An insurance inspector inspects for damages etc.

All of these people measure and take photos, and walk around a site,but the way they evaluate and "see" the features and defects are different as they do so.

 

[Meandering]

I think that if inspection becomes a thing that the users will gravitate toward some form of qualification for inspectors as a means of maintaining consistency.

So glad to see a caveat for Joan,

and her accusations about people who take pictures of other people's bedrooms.

It's one thing when it's a minor part of your job,

it's a totally different thing when it is all of your job.

 

[timd354]

That's not the point.....

You have no point, which is pretty much usually the case