First In Series - Ivpi Q&a #1

[Mike Kennedy]

"would the trainee's appraisal be part of the rotation, NO

or would the trainee's work just be done to the mentors rotational assignment?" YES

"working under the IVPI appraiser's direct personal supervision."


IVPI PROPOSAL, PAGE 9, Section 1.

1. The approved IVPI Appraiser must personally inspect the interior and exterior of the subject property; virtual inspections are not permissible (viewing photos, videos, etc).​

2. Only the IVPI approved Appraiser can perform the appraisal; the only exceptions being a trainee, or their equivalent, working under the IVPI Appraiser’s direct personal supervision. Unapproved Appraisers cannot inspect the subject property and sales independently.​

8. Only individual Appraisers are approved.

[ i.e. only fully Licensed/Certified Appraisers can be approved Panel Members.]

 

[Marcia Langley]

If the trainee can only help on the mentor's assignments, I am sure most will see how hard it will be for any trainee to pick up a mentor under this circumstance.

TJ,

that is the way thhe system works, already. Licensed appraisers are assigned the appraisal, trainees are under their supervision.

Lenders and AMCs only assign to licensed appraisers.

"Only the IVPI approved appraiser can perform the appraisal; THE ONLY EXCEPTIONS BEING A TRAINEE, or their equivalent, working under the IVPI appraiser's direct personal supervision."

I can see how you might think this is confusing. But given the reality of how assignments are made only to qualified appraisers and of how trainees only work under them, it is not actually misstated.

 

[TJSum]

Thank you Mike and Marcia. I have a hard time translating legalese sometimes, so I need to ask for clarification.

Like I said I have no trainees, it does not apply to me, but it will make it harder for trainees to find mentors more so than under the current system. Just wanted to point that out for those who are affected. Why would someone take on a trainee if it will decrease their current income (if the trainee is paid) and the end result will be decreasing their future income (by adding another appraiser to the rotation). I'll leave others make a judgement call on the pros and cons. I like to look for unintended consequences when any new proposal or development takes shape so that the users are not blindsided.