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Hybrid Appraisals

Are Hybrid Appraisals USPAP Compliant?

  • Yes

    Votes: 11 39.3%
  • No

    Votes: 17 60.7%

  • Total voters
    28
I removed that picture /meme because it was not fair not accurate.

The Appraisal Foundation (TAF) plays a pivotal role in shaping the integrity and professionalism of the U.S. valuation industry. It’s not a regulator or licensing body, but rather a congressionally authorized standard-setter that ensures appraisals are consistent, ethical, and trustworthy across sectors.
 
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I have no AMC clients, but I have been asked if I would do hybrid appraisals by most of my clients. Every one of them will not allow trainees to inspect. My answer has always been "no" to hybrids. I have no idea if I have lost business over it. Two are banks and three are independent mortgage companies that use Mercury, Appraisalport or Regorra.
The only one who asked me is Regorra, which is a portal and not a client (though only one client I have uses them, so idk if there is a connection.)
I answered yes because I figured, why not - I can deal with it if and when a hybrid assignment come through, and see if the fee and conditions are acceptable. (or not)
IDK how long this will remain a viable field with or without hybrids -
 
That picture is humorous but it is not actually fair.


The Appraisal Foundation (TAF) plays a pivotal role in shaping the integrity and professionalism of the U.S. valuation industry. It’s not a regulator or licensing body, but rather a congressionally authorized standard-setter that ensures appraisals are consistent, ethical, and trustworthy across sectors.
 
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That picture is humorous but is is not actually fair.


The Appraisal Foundation (TAF) plays a pivotal role in shaping the integrity and professionalism of the U.S. valuation industry. It’s not a regulator or licensing body, but rather a congressionally authorized standard-setter that ensures appraisals are consistent, ethical, and trustworthy across sectors.
It is fair. Look at the board of trustees and tell me they aren't owned. Then look at the traveling carnival show called Sate Harmonization Task Force and convince me it isn't agenda drive.
 
It is fair. Look at the board of trustees and tell me they aren't owned. Then look at the traveling carnival show called Sate Harmonization Task Force and convince me it isn't agenda drive.
"Harmonization Task Force" Whoa...that's gnarly!

From The Appraisal Foundation’s (TAF) May newsletter, the State Harmonization Task Force project was announced, with TAF President Kelly Davids sharing more May highlights with appraisers.

“This new task force, established by the Board of Trustees (BOT), is focused on identifying and assisting states in removing unnecessary regulatory overlays that may be creating unintended barriers to entry into the profession,” Davids said.

Trustee Pete Fontana, who is leading this effort, sent a letter to all state regulators last month outlining the initiative in more detail. Here is an extended excerpt:

"This initiative is rooted in the Foundation’s strategic plan, which calls for building a strong new generation of appraisers to further public trust in the profession. By working together to streamline state-level requirements that exceed AQB criteria, the Task Force aims to:

*Expand access to licensure.
*Increase the number of qualified appraisers.
*Align with the evolving needs of the profession.

"We know many states — both large and small — are already leading the way. We want to share their successes, provide resources and tools, and help more states modernize their approaches,” Fontana said. "While the State Harmonization Task Force will ultimately focus on all licensure requirements that exceed the criteria, we are beginning with ad valorem experience and mass appraisal pathways. These areas represent an existing pool of highly qualified applicants who are ready to join the profession — and we want to help states recognize and leverage this opportunity”

Fontana also expressed the notion that Mass appraisers bring skill sets that are well-aligned with the evolving demands of the profession — from the increased use of data and analytics to the technological fluency expected in modern valuation practice.

Additionally, the BOT went on to say, these competencies are especially relevant as the profession adapts to new methodologies and changing expectations.

“This Task Force isn’t just highlighting the issues — we’re developing solutions and practical steps to help states take action," Fontana concluded.

"This task force hit the ground running after this letter went out. They have already met with regulators in North Carolina and presented at AARO and have several more conversations scheduled in the coming weeks,” Davids said in the newsletter. “I look forward to sharing updates on their progress and seeing where this dedicated group of stakeholders takes this taskforce next".

Up up and away! Lol
 
Question... Were the old timers pre-1980 invariably unethical or inaccurate compared to today? I would argue the market and properties are more complex today and that complexity translates into a product that is not necessarily superior to the old system of where 3 experienced real estate appraisals went together and estimated the value of property by agreement between themselves.
 
...snip...Trustee Pete Fontana, who is leading this effort, sent a letter to all state regulators last month outlining the initiative in more detail...snip...
This guy is on a roll in a couple of Facebook groups. He called a poster who questioned his beloved taskforce "cancerous". I'm sure TAF is proud.

Question... Were the old timers pre-1980 invariably unethical or inaccurate compared to today? I would argue the market and properties are more complex today and that complexity translates into a product that is not necessarily superior to the old system of where 3 experienced real estate appraisals went together and estimated the value of property by agreement between themselves.
But experience doesn't matter anymore per TAF, unless it's the type of experience TAF's taskforce is pushing to replace traditional real estate appraisal experience. And some say there are no agendas in the DC soup that regulates us.
 
I have no AMC clients, but I have been asked if I would do hybrid appraisals by most of my clients. Every one of them will not allow trainees to inspect. My answer has always been "no" to hybrids. I have no idea if I have lost business over it. Two are banks and three are independent mortgage companies that use Mercury, Appraisalport or Regorra.
I've never been offered a hybrid assignment. Its another layer of bad when they get an appraiser on the other side of the country.
 
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