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USPAP comprises a minimum standard. Everyone is free to add extras of their own so long as they don't misconstrue those extras as being minimums everyone else is compelled to adhere to.

So yeah, you can do 100pg narratives for all your SFR assignments. If you want. What you can't do is project your higher personal standard as being applicable to everyone else.
 
"As a practical matter and WRT a state board hassling an appraiser for their SOW decision in a given type of assignment, the burden of proof would be on the state to demonstrate how their peers who normally perform such assignments would have considered the accused's SOW to be clearly unreasonable for that type of assignment. As in, most competent appraisers wouldn't have done that.

And if they never send out a poll or survey, how would they know if most competent appraisers wouldn't have done that?

They only have the case at hand.

.
 
A lot of the change is being driven by technology. Like it or not whether it's bifurcated, hybrid, desktop, etc. Fannie forms and processes are dinosaurs.

I get the resistance, but those who want to stay in the industry (residential mortgage related) past the next decade have no choice but to adapt to and adopt new technology and the systems and processes that come with it. The future is here; the richest man (non-sovereign) in the world owns Amazon, and Amazon Prime accounts outnumber landline phone accounts. Heck, Amazon signed a $600M contract with the CIA for cloud services three years ago. Our industry is primed for Amazon/Netflix/Uber/iTunes type disruption. And it's happening now. Adapt or hold on to your landlines, VHS tapes, phone books, and CDs and hope for the best.
 
A lot of the change is being driven by technology. Like it or not whether it's bifurcated, hybrid, desktop, etc. Fannie forms and processes are dinosaurs.

I get the resistance, but those who want to stay in the industry (residential mortgage related) past the next decade have no choice but to adapt to and adopt new technology and the systems and processes that come with it. The future is here; the richest man (non-sovereign) in the world owns Amazon, and Amazon Prime accounts outnumber landline phone accounts. Heck, Amazon signed a $600M contract with the CIA for cloud services three years ago. Our industry is primed for Amazon/Netflix/Uber/iTunes type disruption. And it's happening now. Adapt or hold on to your landlines, VHS tapes, phone books, and CDs and hope for the best.

Yeah but the difference is that those companies are disrupting by improving whatever service they are selling. In appraisal they are disrupting by reducing the reliability of the valuation or what the industry is selling.

Totally different.
 
If technology was so good, they would have already replaced us. Too bad the bias algorithm is stupid.
 
Just as an aside, it's the marketing of UBER and Amazon that is amazing , rather than the technology . Their technology is rather simple, use computer connections or apps on a smart phone to place orders. Beyond that, their retail services are very traditional in nature. Amazon at the end of the day for its retail goods distributes items one can buy without them, and there is no difference between a pair of Nike sneakers whether you buy it on Amazon or walked in a store and bought them or bought them online from a retailer. Amazon is just very good at capturing customers, offering Prime, free delivery etc but the goods it delivers are traditional same old stuff. Same with Ubers, its' a marketing strategy ...saying it's a ride sharing service instead of a taxi. Whoop ee doo, at the bottom line , taking a ride in an Uber service gets you from point A to point B same as a taxi does and in the same time. It's not like the Uber driver can go double the speed limit and get you there faster.

The originators behind UBER and Amazon and any other mega success company is their marketing genius ( and ruthless business practices ), since every other retailer or cab company or person for that matter has access to the same technology.

The problem appraisers have is we are marketing morons. Barely anyone knows who we are or what we do. Plenty of appraisers have local websites but there is no large outreach to public umbrella high visibility websites for appraisals , aka our version of Amazon. As long as our "marketing" is sitting around waiting for lenders and now AMC' s to give us work, whether it is traditional appraisals or hybrids, we are going to be stuck in the lower earnings portion of the business world.
 
Just as an aside, it's the marketing of UBER and Amazon that is amazing , rather than the technology . Their technology is rather simple, use computer connections or apps on a smart phone to place orders. Beyond that, their retail services are very traditional in nature. Amazon at the end of the day for its retail goods distributes items one can buy without them, and there is no difference between a pair of Nike sneakers whether you buy it on Amazon or walked in a store and bought them or bought them online from a retailer. Amazon is just very good at capturing customers, offering Prime, free delivery etc but the goods it delivers are traditional same old stuff. Same with Ubers, its' a marketing strategy ...saying it's a ride sharing service instead of a taxi. Whoop ee doo, at the bottom line , taking a ride in an Uber service gets you from point A to point B same as a taxi does and in the same time. It's not like the Uber driver can go double the speed limit and get you there faster.

The originators behind UBER and Amazon and any other mega success company is their marketing genius ( and ruthless business practices ), since every other retailer or cab company or person for that matter has access to the same technology.

The problem appraisers have is we are marketing morons. Barely anyone knows who we are or what we do. Plenty of appraisers have local websites but there is no large outreach to public umbrella high visibility websites for appraisals , aka our version of Amazon. As long as our "marketing" is sitting around waiting for lenders and now AMC' s to give us work, whether it is traditional appraisals or hybrids, we are going to be stuck in the lower earnings portion of the business world.

Isn't part of the reason Amazon is so popular with the public....
They offer the consumer a product that is cheaper and delivered faster????
 
Isn't part of the reason Amazon is so popular with the public....
They offer the consumer a product that is cheaper and delivered faster????
I think they also offer making a return just as easy and for the same price. Now that's something I am interested in...because If I fell for slick advertising and then found out it was not as expected ...boom...easy peasy return

FTR I won't abandon my Hometown Hardware store...nope ...I go there and say I need this...they say no you don't you need this other one. They have never been wrong.
 
Isn't part of the reason Amazon is so popular with the public....
They offer the consumer a product that is cheaper and delivered faster????

At the beginning Amazon was cheaper, now it is very often the same price as other outlets...and I am wary of buying electronics or appliances as they are often repackaged or returned items from other retailers. Amazon used to offer free shipping, now many retailers offer that, to get free shipping from Amazon you have to join Amazon Prime, which bundles other goodies, TV streaming etc...Amazon Jeff Bezos is a marketing genius but except for some original content on Amazon TV, it really does not offer any goods or services one can't get at similar prices ( most of the time ). He just makes it a lot easier with one shopping hub and now with Alexa you can order with it, or with an app etc but it still ends up being the same merchandise you can get elsewhere.
 
And if they never send out a poll or survey, how would they know if most competent appraisers wouldn't have done that?

They only have the case at hand.

.
Lulz. The reference in the SOWR doesn't say "most competent appraisers". You should go back and read the reference to see what exactly it does say. You're not going to be able to run an election campaign and use those results as evidence that appraisers can't do those assignments.

Like I said, this here's still America. When it comes to enforcing the rules and regs the burden of proof rests with the state. Not with the accused. So when a client engages numerous assignments with a given SOW and numerous appraisers are completing those assignments per specs it's going to be tough for the state to allege - after the fact - that no competent appraiser would have considered that SOW adequate.

Especially when the reason for engaging that assignment and performing that assignment with that SOW has nothing to do with lying cheating or stealing. If everyone is acting in good faith - and in lieu of specific laws to the contrary - then it's not up to the state to decide a no-look SOW was inadequate for an intended use. If anyone had ever intended to insert the state's additional requirements into the appraiser's SOW decision that would have been spelled out explicitly as such in the state regs at the minimum.

If an off-label user - acting with an off-label use - wants an appraisal they can engage their own appraisal with their own specified minimums. In the meantime they're just another 3rd party with no standing in the appraiser-client relationship. So all that leaves you is with clients and users - who CHOSE to use that SOW - complaining that their decision later turned out to be inadequate and all those appraisers should have known better.
 
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