Disclosing Info To Fellow Appraisers

[Noreen]

I'm curious how the other appraiser knew you appraised the property. That's top secret stuff here.

Marion, the brokers offices are required to name the appraiser & contact info or they get fined through the board.

 

[J Grant]

Imo, I would not share your value, how much do you trust this other appraiser and what they may do with that information ( jmo)

 

[Mr Rex]

Marion, the brokers offices are required to name the appraiser & contact info or they get fined through the board.

Couldn't including the name of the appraiser in the MLS be considered a subtle way of pressuring the appraiser to hit the number? Wouldn't you need to get permission from the lender/client to have your name as appraiser published in the MLS in association with a particular property and appraisal that was prepared solely for use by the lender client?

 

[DWiley]

In my copy of USPAP I do not see "other appraisers working on assignments" included in the list of entities to whom one may disclose assignment results. ETHICS RULE, Lines 297-304.

Relevant charactersistics of the subject property are not assignments results, but the value opinion developed certainly is.

 

[Meandering]

Marion, the brokers offices are required to name the appraiser & contact info or they get fined through the board.

But does that information upload to Zillow, Trulia, or Realtor.com?

I've never had an appraiser ask me for my value, and I've never asked them for theirs. I have asked why an appraiser believes values of a certain type of property are lower in an area than in surrounding areas. But that had nothing to do with a specific property. Appraisers have asked me for sales of certain types of properties in areas. We've traded data for leases, repair items, repair costs, new project's approved, new laws, zoning changes, and new crap promulgated by AMCs.

I don't see why an appraiser would care about the value of a specific property developed by another appraiser. That's just paranoid stupid. Start with, the first appraiser's value was developed for a different day, and follow it up with appraiser ego. Appraisers will give and believe anything just so someone lets them develop their own opinion of value, even if they are doing it for a client they know is likely to not pay them.

That's like saying don't let your pig fly in the rain, because they crash more frequently in the rain.

.

 

[Mark K]

You can disclose whatever you want about the property or terms of sale.

You should not disclose or discuss the results of your appraisal.

 

[Michael Martin]

He didn't ask me for the value and I'm well aware of the ethics and confidentiality issues, that's why I was asking other's opinions. Terrell brings up a good point though and something I hadn't really considered. The market has spoken in a sense. The value I came in at means virtually nothing. Even if I was to use this as a comp in the future, I would rethink any adjustments or weight I might put on it based on this thread. As far as the market is concerned, my value was low. This forum can be great sometimes!!

 

[BRCJR]

Couldn't including the name of the appraiser in the MLS be considered a subtle way of pressuring the appraiser to hit the number? Wouldn't you need to get permission from the lender/client to have your name as appraiser published in the MLS in association with a particular property and appraisal that was prepared solely for use by the lender client?

Why would a MLS need the appraiser to get permission from the lender/client for the MLS to publish the Appraiser name? I do not follow you on this thought.

 

[Mr Rex]

Why would a MLS need the appraiser to get permission from the lender/client for the MLS to publish the Appraiser name? I do not follow you on this thought.

Doesn't including the appraisers name imply revelation of assignment results that are supposed to be confidential?

 

[BRCJR]

Doesn't including the appraisers name imply revelation of assignment results that are supposed to be confidential?

How does an appraiser have control over that? How do you see that as any different than a borrower leaving the appraisal laying on the table at McDonalds when they leave?
I cannot see any appraiser liability in such cases.