Bad Appraisers ?

[Deleted member 130081]

I think bad appraisers appraise the data in the sales comparison approach grid rather than stepping back and looking at the property as a whole. They just match up the data and they must be the best comps.

It is incompetence if that is just what they know to do. It is unethical If they know better but do that because they need to rush out 2 or 3 reports per day.

I LOVE this post.

I think the obvious answer to the original question is a "bad" appraiser is first and foremost one who is willing to do unethical valuations. This can take many forms and I'll just stop at that.

How about appraisers who fail to reconcile and disclose the credibility of appraisal methods used?

 

[J Grant]

How about appraisers who fail to reconcile and disclose the credibility of appraisal methods used?

Imo, that is better described as sloppy, or lazy, rather than "bad". If the value is credibly developed and research is in a work file but appraiser skipped explaining how they arrived at value in the report, that is sloppy or lazy. Bad would be if they arrived at a pre determined /inflated value , used cherry picked comps to reach it while excluding more similar sales, and/or presented misleading information or failed to disclose adverse property conditions/facts.

A bad appraisal can cause harm by misleading people into making poor decisions based on the appraisal (due to false/manipulated information), whereas lazy/marginal appraisals may lack some elements or have minor errors present but have basically credible conclusions and value, even if poorly explained.

 

[bnmappraisal]

Sorry just saw my typo....disciplinary .

Ha! I just looked back myself ... I guess I originally read it as disciplinary anyway. Either way, I still agree with your comment (typo and all!)