I'm Conflicted - Should I Do These Reports?

[Deleted member 134708]

Sounds like more and more appraisers getting on board with the future.

Some appraisers will say go get better clients and go into debt for the $5k as a better alternative.

I say, meet the future of appraisals today and go get paid $50 an hour.

 

[djd09]

 

[J Grant]

I tried my 1st one last week...
While I'm not conflicted...
I'm not sure I'll want to do them often...

Did you find it took more time than what the client spin was, or that it was harder to do than imagined?

I've never done one of these but years ago I did a few BPO's on proprietary software forms and found the web based software awful to work with. Perhaps it is better today ?

 

[glenn walker]

Once you addict them to paying appraisers $60 for an appraisal, you think their competition will agree to pay appraisers $600 when volume drops???



.

I don't care if appraisers get $600.00 or $100.00 ** I have no set fees and C & R is simply a function of looking into my wallet or trying to keep a good customer.

 

[Meandering]

I don't care if appraisers get $600.00 or $100.00 ** I have no set fees and C & R is simply a function of looking into my wallet or trying to keep a good customer.

If that were true your tag line would be....

10@ 300 is not the same as one at $3k. And, you'd be a CG.

Tell yourself your stories.

 

[djd09]

fifty bucks divided by sixty months = 83.3333333 cents per month.

liability.

 

[KHS445]

It is a cheap way for the lender to obtain E&O coverage from an appraiser. I would strongly suggest you check with your E&O provider to make sure you are covered for this type of work. From what I read there will be unknown and unlicensed individuals completing part of the assignment. Trust but verify.

 

[Michigan CG]

Has anyone ever just asked these people why they are paying someone else to take the pictures instead of the appraiser? Has anyone asked these people why they would want the report quality to be diminished by using pictures taken by Realtor's kids? We all know it is about money but they won't admit it or even discuss that.

Has anyone asked these people if they know how many times the term "credible assignment results" is mentioned in USPAP?

 

[ucbruin]

Did you find it took more time than what the client spin was, or that it was harder to do than imagined?

I've never done one of these but years ago I did a few BPO's on proprietary software forms and found the web based software awful to work with. Perhaps it is better today ?

As with all new software there is a learning curve. I can imagine appraisers getting faster with more experience.

I accepted an assignment in a town that I have years of experience appraising. And, as I suspected, the subject property was typical for the town, colonial, average GLA, age, etc. So the degree of appraisal difficulty (based on available recent sales comparable to the subject property) was not acute. If all the assignments were like this 1st one, I'd be open to accept/complete more.

But I will only accept assignments that are located in towns/cities that I have plenty of experience appraising. So I don't envision these types of assignments replacing my existing appraisal work. But I wouldn't be conflicted if these types of assignments were to become a larger part of my income stream if I were to receive more assignments like the 1st one.

 

[Terrel L. Shields]

how many times the term "credible assignment results" is mentioned in USPAP?

I contend just because you caveat away responsibility for the parts you didn't do you are still responsible for credible results. Transference of that responsibility to others won't happen.