CNBC - Forsyth Appraisals?

[Pamela Crowley (Florida)]

All I can say right now is, "WOW!!!"

Keep it coming in to me!!!!!!!!!

PM here or email to: pec515 @ yahoo. com (remove the spaces)

 

[Sunny Tyner]

Forsythe Appraiser here.

Ok Team - I'm an actual Forsythe Employee. I started a year ago last March as a trainee and I just got certified last month.

Whatever some of your past experiences have been with Forsythe, I can attest that the Orlando branch is run above board. We are not required to give up control of our signatures, we don't do comp checks, and trainees don't do inspections without a supervisor, when required.

Alan Hummel is indeed a former AI president and has been in the biz for 20+ something years. He's very knowledgable and a super instructor.

I was included in a small office meeting/training session with him and was amazed at his knowledge and willingness to share his expertise not only with employees, but the desire to spread his knowledge and competency to appraisers outside Forsythe. Alan would love to see everyone as a competent appraiser.

Since I've actually had a conversation with Alan, I feel I can say that this was obviously a limited interview. His knowledge base would allow him to talk at length about the Cuomo talks and the state of the appraisal world in regards to the declining market.

He's really a good guy and this was just a few minute long sound bite of info.

 

[Workbox]

I also had an interview with my old boss, later to find out he was altering my appraisals and it got to the point of hitting the number. Recently I did a litigation Retro Appraisal,.....It was my old boss. ............Sad. But if you pay good attention. The other guy is promoting ON SITE and DONE RIGHT APPRAISALS and questioning the AVM's and looks disgusted at Hummel. That's just my interpretation.

 

[athome77]

Sunny,

Gald to hear that Forsythe is doing thing the right way. What % of your clients are AMCs?

 

[chad hampton]

What % of your clients are AMCs?

Don't know about how they are in FL, but I know someone that works for them in another state- they NEVER turn down a job, regardless of fee. They are on a lot of AMC lists, even the low paying lsi's and eppraiseit's out there. And they do every job they are sent. edit - i forgot to say they pay the appraiser I know 40% of the fee.

It seems their business plan is to grab everything they can now, work on the cheap, and then be the only ones left standing when the market turns. They have investors to make happy.

The guy I know that works for them is as busy as can be right now, 2-3 a day is what they expect from him. It seems the work is out there, but you have to work for free to get it.

 

[athome77]

I could be real busy too at $160 for a 1004, especially if I found an appraiser willing to do the job for $54 (34% fee split inidcated by other Forsythe staff appraisers).

 

[Lloyd Bonafide]

"In addition to the fastest turnaround times, the highest quality appraisals and the fewest surprises in the industry, Forsythe Appraisals offers expertise in a large variety of property types and specialty services."


The fastest turnaround times in the industry is not really something to be proud of. What that says is that they are definitely not taking enough time to do even a mediocre appraisal.

 

[Pamela Crowley (Florida)]

"In addition to the fastest turnaround times, the highest quality appraisals and the fewest surprises in the industry, Forsythe Appraisals offers expertise in a large variety of property types and specialty services."

With that coming from 'the leaders of the appraisal industry', no wonder we are now considered a pack of fools!

 

[Sunny Tyner]

AMC Workload %

Let's just say that the Orlando office does a large amount of AMC work. However, I don't believe that all branches are as AMC heavy and I can't speak to Forsythe's marketing plans regarding AMC work.

I think the workload is more dependent on the actual Branch Managers. Some of the branch managers are marketing gurus and get out and hit the streets to drum up non-AMC clients - and are quite successful.

The benefits of AMC work is that I've typically been busy most of the weeks I've worked for Forsythe. The downside is the low fees. However, as a trainee, I've simply considered it part of the dues I needed to pay. I've worked in a situation where if we got a real doozy of a property, we could call Alan Hummel directly and have him guide us through writing the report. How many other people can say that they've had a former AI prez assist in writing their reports?

 

[athome77]

Sunny,

As a trainee I assume you are under supervision of a cert. appraiser. Does the supervisor provide guidance on the "doozy"s or does guidance always come directly from the former AI prez? Also, is Mr Hummel's contribution to the completion in the assignment disclosed in the report?