Comp Cruncher

[Michigan CG]

.......the clients want an appraisers signature and E & O...........

Wake up folks. You have liability. Do the job right or don't do it.

 

[lmurry]

Well Jamice, I must say you have a very strong opinion and I respect that; however there are some things you may have overlooked.
1. I was under the impression that the banks were already in the process of reducing our fees through their AMC's.
Well Fargo = Rels Valuation
Chase = Quantrix
BofA = Landsafe
It have heard that 80% of all appraisal reports go through these AMC's. Why are you not complaining about the banks lining their pockets at our expense, assuming they even call you at all. How many times have they called you? I am not defending Bradford, but the truth is the banks are in control and they were engaged in destroying the appraisal industry long before Comp Cruncher.
The latest effort to destroy the industry is to require only AR to do the work in California. That cuts the industry at the roots. All you have after a while are vets and no rookie.

2. You asked, "how do you compare comps?"
My question to you is how do you compare comps? Do you inspect every sale and listing in your reports? We have all engaged in 'extraordinary assumption' on every assignment and I dare anyone to deny that.

3. I agree with you that we need to make Zillow and BPO's illegal. As I heard someone say once, AVM's have no people and BPO's have no qualified people. Let me tell you why that won't happen. We as a group are so busy being fiercely independent we have no power; and, the institution that suppose to represent us have no wood. I have long advocated a union or PAC.

4. An AVM will not give you the same result as you say, because it cannot discriminate whereas an appraiser can.
Of all you who have commented on this thread, how many of you have actually experienced the Comp Cruncher program?

 

[Randolph Kinney]

Shades of Zaio.

 

[CANative]

An appraiser is not going to get tagged by doing the occasional BPO or half-assed comp check.

But hundreds of these a month? C'mon. It's liability waiting to happen

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Date: Thu, 25 Mar 2010 10:02:38 -0400 (EDT)
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[Mike Kennedy]

My fellow Appraisers,

Please don't get mislead comp checker only puts money in Bradford pocket and reduces our fees even further. I would never use a product like this as a substitution for an appraisal. How do you read your MLS comps with a product like this. How did you compare the condition of your subject property to the comparables. This is not an appraisal process this only discredits appraisers even further and puts us in the same category as Zillow. This product will only eliminate the need of using appraisers in the future. Why order an appraisal from an appraiser when you can have an AVM do it for you and get the same results. The arguement can be made if it good enough for appraisers then it would be good enough for banks and consumers too. If we want to see and increase in business then we have to some how make BPO illegal in the state that we live in then you will see a big spike in business and fees will go up I guarantee it.

bullseye.

Appraiser-assisted AVHUMS - backed by 2 E&O policies, the tidal wave is coming.

Planned Obsolescence except for complex properties and markets which lack verifiable on-line auto-data.

"Just gimme the damn number dummy" reigns supreme. "keep running the numbers until you GET THE DAMN NUMBER!!" (@$5.00 per valuation). NOOOOOOO..........we don't want you INSIDE THE DAMN HOUSE !! WE DON'T WANNA KNOW - JUST GIMME A NUMBERRRRRRRR!!!"

Coming to a local theatre near you - SOON.

 

[Jamice4u2]

Well Jamice, I must say you have a very strong opinion and I respect that; however there are some things you may have overlooked.
1. I was under the impression that the banks were already in the process of reducing our fees through their AMC's.
Well Fargo = Rels Valuation
Chase = Quantrix
BofA = Landsafe
It have heard that 80% of all appraisal reports go through these AMC's. Why are you not complaining about the banks lining their pockets at our expense, assuming they even call you at all. How many times have they called you? I am not defending Bradford, but the truth is the banks are in control and they were engaged in destroying the appraisal industry long before Comp Cruncher.
The latest effort to destroy the industry is to require only AR to do the work in California. That cuts the industry at the roots. All you have after a while are vets and no rookie.

2. You asked, "how do you compare comps?"
My question to you is how do you compare comps? Do you inspect every sale and listing in your reports? We have all engaged in 'extraordinary assumption' on every assignment and I dare anyone to deny that.

3. I agree with you that we need to make Zillow and BPO's illegal. As I heard someone say once, AVM's have no people and BPO's have no qualified people. Let me tell you why that won't happen. We as a group are so busy being fiercely independent we have no power; and, the institution that suppose to represent us have no wood. I have long advocated a union or PAC.

4. An AVM will not give you the same result as you say, because it cannot discriminate whereas an appraiser can.
Of all you who have commented on this thread, how many of you have actually experienced the Comp Cruncher program?

The industry does need license appraisers. Licensed appraisers are the future of our industry. Even though I was never a licensed appraiser, I wish I would have gotten licensed instead of jumping from trainee to Certified General. It would have put me in a better position for Veteran FHA work in the future.

There is plenty of work out there if there was a way to make the use of BPO's and AVM illegal. What I dislike about HVCC is it eliminates the need to do quality work. Those of us who want to do quality work suffer because people don't understand the importance of judgment when it comes to appraising and it takes time to make the best judgment. I don't work for Rels, Landsafe and Quantrix because the fees are too low.

I wish the government would do something about these abuses of small business people. If we can make our voices heard to the people who run this country then we can make some head way. But even then the Banks and the AMC s are probably putting more money in the politician’s pockets through there lobbyists than we are.

I do agree that appraisers need to stop being so independent and start doing things together. That way we can stand up for ourselves better. Our political muscles are the size of germs compared to the banks and now the AMC. Let's face the facts we are screwed unless we can work together to become more unified and politically active.

 

[Thomasmore]

Amazing. This is why you are vendors and not in control of your industry. You are a labor pool being harvested. Not that CC is the answer, but new technology that you could leverage comes along and what to you do? Hitch up your Amish team and gotomeeting to decry the advancement. Meanwhile, the work is going to non-appraisers that you could be doing but you wont even try, cuz it's not what you are used to, then want the government to save you? Ever heard of free market dynamics? Its hopeless thinking appraisers are going to be able to solve this. You cant even go so far as to find out if something is worthwhile before trashing it. Most have invested NO time learning anything about the new developments,.. but know this: your competition is smart, alive and well and doing all they can to take as much of the market they can while you shake your heads. I suspect imurry is a bradford guy with bradford underwear, but there are other emerging systems out there, and you probably wont look into those either................... or before you allow your face to be completely stolen off your heads, will you entertain some new things to combat the erosion of your market share? What are you offering to clients besides "just say no, to avm and BPO " cuz, well, I'm an Appraiser, and that should count on it's own, right? hello? hello?? No one cares about that?? hmmm What does the market need? and "should" don't cut it

 

[Randolph Kinney]

What the lending industry needs from appraisers is free comp checks. Short of that, the lending industry will take the equivalent of a BPO at BPO prices signed as an appraiser attesting to a value. They don't care if it is automated just as long as it is fast and cheap.

The big problem is there is no standard agreed upon report format or content. These fast and cheap "solutions" all have differing report formats and content.

It will take a Fannie to dictate a standard and the rest will follow. AMCs will be the vehicle to implement.

 

[MDAPPR]

I'm sick of all the spam I get on this sledge-O-matic product and the phony baloney money you make in 1 hour.

Should rename the "Comp Cruncher" to "Appraiser Cruncher".

 

[Pete Humphrey]

Here's my question for the AppraisalWorld appraisers out there..........has any appraiser who has gone thru the training and is certified to crunch comps made any actual money with this thing?? (other than Mr. Bradford of course). According to their website they will "initially" have only one appraiser per county doing this. Yeah, like they're going to limit it! Apparently if you want to get your name on the Appraisal World directory with all it's upgraded benefits it $149, then another $399 to do comp cruncher. When I put my home address into the directory search function I got 20 appraisers with one who has Comp Cruncher certification. But you've got to believe that some of the other 20 have paid for their comp cruncher class and are on their way. But I wonder about that one guy and if he's made any money? I may just have to send him an email and see if he responds!