• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Hybrid

Status
Not open for further replies.
Re agents providing opinions of value in a BPO and an appraiser participating in a hybrid report are hardly on the same page. If you can’t see the difference I don’t think I can help fix stupid. Sorry, but stupid is what stupid does.

Most of the time when real estate agents do a BPO, they have an interest in selling the property based on a commission.

They could get in serious trouble here without disclosing that fact one way or the other.
 
You can read your states laws and rules and make the determination for yourself. It is your responsibility to follow all state laws. I would wait until the NCAB issues a memo on them before I even considered doing one. Perhaps they read the laws and rules differently that I do - it wouldn't shock me if they did. Like most boards, they are scared to death of AMC's it seems. I would expect them to put the burden and responsibility 100% on the backs of appraisers, like they always do. I wouldn't want to defend the position that I had direct supervision over all parties that provided data for the sole purpose of inclusion in my report. Maybe it can be defended, who knows?
(my bold)

That's a sad statement of your board's composition.
I do note that you qualify your statement by saying "...most boards" and "... it seems". I appreciate that qualification.

I don't have experience with judging all boards on an objective basis. I will say this...
The Illinois board seems less than accommodating to AMCs. So much so, that they've been very aggressive in their licensing enforcement and have had to (if memory serves), walk back some of their enforcement action (or, maybe it was only one enforcement action).
Louisiana, who has successfully enforced one case of C&R by an AMC, doesn't seem to fear them at all.
I've heard (so this is anecdotal) Montana is near anti-AMC.
I'd say my own state (California) has no fear of pursing a complaint against an AMC.

Are there boards that do fear AMCs? I cannot say there isn't, and will accept that there may well be.
What I do believe is that there is a wide range of expectations of appraisers what AMC regulations are, and how they can be effectively enforced.
That's why I advocate for appraisers to join organizations that can lobby their regulators (and legislators) to align the enforcement rules/regulations with what the appraisers want to achieve.
Naturally, I may disagree with the objective. But I'll never disagree with the concept of organization and petition for an objective is a waste of time.

If I recall correctly, you do participate in appraisal organizations. Hopefully, others that agree with you will follow suit.
 
Here, About the only way a real estate agent will do a BPO is if they have a shot at the sale.
 
Most of the time when real estate agents do a BPO, they have an interest in selling the property based on a commission.

They could get in serious trouble here without disclosing that fact one way or the other.

You get it, apparently it blew by Chad in his fixation on the issue at hand.
 
Like most boards, they are scared to death of AMC's it seems.

That is pretty funny, especially in reference to the NC Board. :) Sure, when NCPAC issued its false claim about the VA schedule being required in NC, the NC Board acted to clarify that was not the case. But, they did not do that out of any "fear" of AMCs; they did it because they know that they have to act within the actual written law/regulations, and those allow for multiple methods, not just the VA fee schedule. The same could be said of the Virginia Board, which took similar action in response to the same type of action by a group in that state.

We are licensed/registered in every state that has licensing/registration in place, and I have yet to encounter a Board that is "scared" of AMCs. Being scared of AMCs would make no more sense than being scared of the appraisers that they also regulate. It would certainly be interesting to see how appraisers in a state would react if a state board passed appraiser rules that were in line with some of the AMC rules that some states have adopted.
 
Most of the time when real estate agents do a BPO, they have an interest in selling the property based on a commission.

They could get in serious trouble here without disclosing that fact one way or the other.

When that happened in my state and the board and RE commission found out, the agent got the case dismissed - with a reminder that they are not permitted to provide BPOS for a fee for the purpose to having their BPO be used as material data in an appraisal report. Not sure that's serious trouble. It happens ever day.
 
When that happened in my state and the board and RE commission found out, the agent got the case dismissed - with a reminder that they are not permitted to provide BPOS for a fee for the purpose to having their BPO be used as material data in an appraisal report. Not sure that's serious trouble. It happens ever day.


I’m TN, the list of fines is a mile long all the time. Not serious fines usually, but fines for all sorts of actions.
 
I am getting more and more realtors calling me for advice. More and more handing me appraisals from other appraisers. New market?
 
I am curious how many state boards have appraisers as investigators. I think NC, LA, and AR do, but as far as I know some states are using ex-cops, other state bureaucrats, etc. Some can be judge, jury, and executioner. In AR at least, the investigator refers a complaint to a 3 member examination and if they proceed, it goes on to a full board hearing. Are there any states that don't have an investigator? I know AR didn't for years because a lawyer/legislator whose incompetent appraiser-client (who used 2 of his own rentals which had not sold as "comps" and the 3rd comp did not even exist) lost before the board, saw to it that there was no funding for an investigator so the Director (non-appraiser) was our "investigator".

In the early years, the state of Oklahoma, which runs their appraisers out of the Insurance department, used to call up the instructors and others to review complaints...a pretty lousy system when you consider the number of instructors over there who have been sanctioned or were outright incompetents themselves. One instructor had an in-class rebellion on his hands once and had to step aside and let his cohort finish the classes. One of my OK trainees attended that class. I had seen one of his reports where he lump sum added a bunch of walnut trees in a fence row as a line item in the CA. $20,000. I think I still have a copy of it somewhere. Anyone who knows loggers and fence rows know that they won't touch fence row trees unless desperate because too much wire gets in it and that turns the wood blue. And one guy ruined a saw on a plow point that someone 100 years ago stuck in the fork of a sapling and it was completely covered, and, of course, the wood was totally worthless for furniture or veneer.

I am not a fan of administrative law. I prefer real judges with real law degrees, but the above is about as good as it gets. What was it that happened to Ray Miller? Despite a court hearing, the board had authority to supersede a judge? How does that work?
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Back
Top