Disclosing Info To Fellow Appraisers

[Mr Rex]

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.

The appraiser may not have control, but they could argue with the MLS that in doing so may be in violation of USPAP which does increase the appraisers potential liability. Of course the 800 lb gorilla is that its obviously a form of pressure for the appraiser to play ball.

 

[BRCJR]

The appraiser may not have control, but they could argue with the MLS that in doing so may be in violation of USPAP which does increase the appraisers potential liability. Of course the 800 lb gorilla is that its obviously a form of pressure for the appraiser to play ball.

I do agree that it is a possible pressure tactic. A local MLS did this, for about a month, and the local appraisers had the practice stopped.

 

[J Grant]

I personally don't like the idea of listing appraiser's name on MLS, though it could act as advertising for the number hitter who appraised the highest price sale evah....

 

[DWiley]

The appraiser may not have control, but they could argue with the MLS that in doing so may be in violation of USPAP which does increase the appraisers potential liability. Of course the 800 lb gorilla is that its obviously a form of pressure for the appraiser to play ball.

What would the USPAP violation be?

 

[Terrel L. Shields]

Couldn't including the name of the appraiser in the MLS be considered a subtle way of pressuring the appraiser to hit the number?

Our MLS has a place to place the appraiser's name. It is not a hard stop.

 

[Noreen]

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

I'LL SAY IT AGAIN.... WE DO NOT DISCLOSE OUR OPINION OF VALUE..EVER!!! Features, Characteristic, quality, material & GLA. and seller concessions.

 

[Deleted member 128537]

In my area appraisers share information on properties all the time. We don't share values. I just call up an appraiser and ask them if they have ever done an appraisal on a property. That's how I find out. It's amazing how much information can be gleaned from other appraisers.

 

[Mr Rex]

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.

The appraiser may not have control, but they could argue with the MLS that in doing so may be in violation of USPAP which does increase the appraisers potential liability. Of course the 800 lb gorilla is that its obviously a form of pressure for the appraiser to play ball.

What would the USPAP violation be?

I'm not sure, but I'm guessing a half arsed call saul attorney could find at least one GLB or USPAP ethics violation worth sucking some settlement cash out of an appraiser or his/hers E&O. I have to wonder what positive contribution to the process it could add? Other than the aforementioned value pressure which is supposed to be verboten. Based on your response can I take that as affirmation that you think this is a positive step for appraisers as a whole in your personal opinion or as your opinion as an employee of an AMC?

 

[J Grant]

I agree it seems odd to me to list appraisers name on MLS. If appraisers in an area want to exchange information about properties they can contact each other .

 

[Noreen]

The appraiser may not have control, but they could argue with the MLS that in doing so may be in violation of USPAP which does increase the appraisers potential liability. Of course the 800 lb gorilla is that its obviously a form of pressure for the appraiser to play ball.


I'm not sure, but I'm guessing a half arsed call saul attorney could find at least one GLB or USPAP ethics violation worth sucking some settlement cash out of an appraiser or his/hers E&O. I have to wonder what positive contribution to the process it could add? Other than the aforementioned value pressure which is supposed to be verboten. Based on your response can I take that as affirmation that you think this is a positive step for appraisers as a whole in your personal opinion or as your opinion as an employee of an AMC?

But there is no pressure, the Opinion of Value is never discussed. they are calling to have the accurate information about the comps they are using in their report that they have not seen. Let me ask you this, do you feel comfortable hanging your license on the "accuracy" ( and I am being sarcastic here) of what is in MLS... we ( area appraisers in general) don't. The appraisers that call or email are obligated to verify the recorded sale as part of their own due diligence.

I would think in "Non Disclosure states" it would make the process easier and certainly more accurate. I include deeds in my reports, because they are public record. When I have a condo, 7 out of 10 times, I can find the original recorded floor plan and I can include that in my reports.