KD247
Senior Member
- Joined
- Jan 24, 2002
- Professional Status
- Certified Residential Appraiser
- State
- California
Like it or not, there are thousands of valuations occurring every day that begin as BPO's with an appraiser hired to "reconcile" them with an AVM or two (based on the pay, the time allotted to each reconciliation is about 10-15 minutes). These reconciliations are distributed nationwide and there is no requirement for the appraisers to have local competency. For better or worse, that aspect is handled by the BPO. One could argue that these "reconciliations" are not appraisals but it's pretty clear that the users' intent is to circumvent appraisal requirements with a lower-priced product.
Just because we stick to our standards, there is no guarantee that the rest of the world will.
Edit: Took a look back and it seems that most of you are familiar with this type of job. I wonder how many appraisers have dropped out of this forum, not wanting to bother themselves with pesky standards and principles, and are making a good living doing BPO reconciliations.
Just because we stick to our standards, there is no guarantee that the rest of the world will.
Edit: Took a look back and it seems that most of you are familiar with this type of job. I wonder how many appraisers have dropped out of this forum, not wanting to bother themselves with pesky standards and principles, and are making a good living doing BPO reconciliations.