Desktop Appraisals Becoming the New Normal

[CGinMN]

Some might construe the following as a 'diss'...

"They won't. They will say "What conclusion do you need?"

Yeah, I missed that one. Seems dissy.

Personally, I truly do see each of my peers as equals unless they prove to me otherwise. I understand the plight of the overworked and underpaid staffer and wish them the best.

Oh, the staff appraisers will definitely be assigned to certain assignments regardless of their preferences. That's one of the primary reasons for hiring appraisers as employees, to control the hours they work, the desk they sit at and the assignments they'll be working on.
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Yup. Prefrences, but what about ethics and competency? Is “sorry I don’t do desktops because the cubi-casa app is junk” an option for a staffer at clario?

 

[George Hatch]

i don't know what kind of donkey wouldn't want to see the property they are appraising. don't you believe your own eyes?

Its not a question of believing what I physically see. The question is whether I can believe what an MLS listing or a public records entry or a Google Street pic is showing me. The answer to which is not always "yes" and it's not always "no".

I've done a number of assignments without physically inspecting the property, and even more where I didn't inspect the structural improvements (like proposed constr. where there are no improvements). Easy-peasy. And occasionally necessary, depending on the assignment conditions.

 

[CGinMN]

Is it possible that you may be looking at it backwards? IOW, that appraisal quality isn't being degraded - if anything, I'd submit that appraisals - as a whole - are more credible now than 10 years ago. Is it possible that technology is just improving at a rate MUCH faster than appraisal quality is improving?

It is possible I am wrong. Appraisals are better because of the availability of data. Also, the average ability and years on the job of your typical residential appraiser is probably increasing right? So cost, timing, and quality are not the only factors in quality, but they are the factors the users have most control of.

 

[George Hatch]

Yup. Prefrences, but what about ethics and competency? Is “sorry I don’t do desktops because the cubi-casa app is junk” an option for a staffer at clario?

Hypothetically speaking, if 100% of your clients went to desktops then your choice would be the same as that of any staff appraiser. The advantage you have as a fee appraiser is that you have multiple clients, not that every one of your clients are immune to the sales pitch.

I know nothing about the app or it's strengths and weaknesses. But I think it's fair to speculate the technology will only improve over time. So whether it's ready for prime time now or 3 years from now, the question of whether its' sufficient to purpose is probably more a matter of "when" than of "if".

These lenders don't need every appraiser to accept this type of assignment. They only need enough appraisers to sign on to service the demand. Over the long term, I highly doubt they're going to have a problem with finding enough appraisers to do that. Especially as our licensees get older and have less energy to getting out and doing road trips every day.

 

[alebrewer]

Appraisals are better because of the availability of data.

Which is a double edged sword... makes our opinions more credible, but also fuels the evolving AV technology.

 

[CGinMN]

Hypothetically speaking, if 100% of your clients went to desktops then your choice would be the same as that of any staff appraiser. The advantage you have as a fee appraiser is that you have multiple clients, not that every one of your clients are immune to the sales pitch.

I know nothing about the app or it's strengths and weaknesses. But I think it's fair to speculate the technology will only improve over time. So whether it's ready for prime time now or 3 years from now, the question of whether its' sufficient to purpose is probably more a matter of "when" than of "if".

These lenders don't need every appraiser to accept this type of assignment. They only need enough appraisers to sign on to service the demand. Over the long term, I highly doubt they're going to have a problem with finding enough appraisers to do that. Especially as our licensees get older and have less energy to devote to getting out every day.

I agree. But my question is whether is staff appraiser is under more pressure to complete hybrids, and I think the answer is yes. So when appraisers say “just say no” I ask “what about the staffers?” They don’t have the luxury.

 

[djd09]

they have divided appraisers from their clients, fees, independence, and now they want to divide appraisers from first hand inspections. what's next?

dividers like to divide, same story a different day.

 

[alebrewer]

I agree. But my question is whether is staff appraiser is under more pressure to complete hybrids, and I think the answer is yes. So when appraisers say “just say no” I ask “what about the staffers?” They don’t have the luxury.

Staff appraisers may not see it as 'pressure'. My guess is that staff appraisers have been the ones primarily involved in the testing. Is it possible that they may be on board with the alternative SOW assignments? I don't make that as a carte blanche statement, as I'm sure there are some staffers who may choose to quit over that, but, IMO, it may be that - on the whole - they don't see it as pressure. They just see it as another way of developing an appraisal.

 

[George Hatch]

If/when the volumes drop a lot of the "I'll never do that" opposition is going to evaporate. I doubt even one appraiser will leave the business due to their objections to their employer or their clients doing more desktops.

The irony on the liability front is that if someone else does the inspection it reduces the appraiser's exposure to liability stemming from inaccuracies in the inspection.

 

[ucbruin]

Someone who wants to not spend the trip and scheduling. I can understand it if you don't verify information and are a skippy it is preferable.

Our friend ResGuy once dubbed me, "jiffy"....
The label he created for his version of a slightly better "skippy"....

Regardless of label....
I'll accept 5 Desktop assignments per week....
Just be grateful you don't appraise in my market....