• 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.

Limited Licensed doing 20 appraisals weekly

Status
Not open for further replies.

hal

Thread Starter
Sophomore Member
Joined
Apr 4, 2002
Professional Status
Certified Residential Appraiser
State
Michigan
I have heard of a Limited Licensed Appraiser who has a shop and is doing an average of 20 appraisals weekly with no supervisor signing his work. He has been doing it for some time. When do LOs check out the appraisers and/or do they know how. How do you anonymously report this guy?
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Why do you need to be anonymous? This person is the dishonest one that should fear what they are doing.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
If you want to submit a complaint, go to your state RE & Appraisers board. What state R U in (your profile is not complete)? Many have web sites to either get a complaint form, or make a complaint online.
 

Dave Smith

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
There is no way for one person to do 20 quality reports in one week in my market without working 100+ hours a week. I know, I've been trying to do it for seventeen years. Not that I work 100+ hours a week. I work so I can live rather than live to work :!:
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Report him for what? If the values are below the deminimus, regulated institutions do not have to have a certified appraisal. Doing this by himself or with a couple of secretaries doing the keypunch? If done correctly, and the magic words "complies with" USPAP does not appear in the work, it probably is legal to do a single page 704 or similar.

It is quite possible to do what he is supposedly doing with some help in a compact market. And, how reliable is the 20 per week number? I found out a long time ago people have a habit of exaggerating by two times the amount of work they really get done.

Further, what if it is all on the up and up? You open yourself to a suit, maybe a federal one, if you are hindering the legal commerce of someone else. Walk cautiously and anonomous complaints should be anonomously dumped in a waste paper basket. If you do not have the courage of your convictions and evidence to support those convictions, best keep your mouth shut.
 

Leon Stewart

Member
Joined
Jan 15, 2002
He could be doing AVM's or BPO's, and like someone else said, you don't know what's going on in someone elses office unless you are working there, and even then you might not know everything. You definitely have to be careful about discrediting someone when you don't have all the facts or you don't know for sure that a person is in violation of anything.

leon
 

jwand125

Freshman Member
Joined
Feb 18, 2002
Not all states are licensure states, in ohio you can do below 250K I think without a license. No one will take your work, but evidently this guy found someone. There is a whole bunch of review appraisers without license. If hes doing it legally good for him, since all of us licensed appraisers are to be busy and dont like the liabilty of apprentices.
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Most of us here jump through hoops to make sure we're not doing anything illegal, cite USPAP and Fannie Mae Guidelines, consult our notes, consult one another, take classes, worry, wring our hands, wipe our brows, and pray we've done everything in a professional manner. Doesn't it make you all crazy :crazyeyes: to hear about appraisers abusing the system and getting away with murder?

And while I'm at it....

I CAN'T WAIT UNTIL THANKSGIVING!!!! :!:
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
Charlotte,

The reason most of us limit the amount of work we take in and worry about all the little things like USPAP, licensing requirements, E&O, continuing education and all that is because we care about what we're doing and take pride on our work. In my experience (metro area with great data, no less), a person who is slopping out that many appraisals a week is doing just exactly that; slopping them out. The quality is obviously secondary to the quantity, which means the money is the only relevant factor. Consequently, these are going to be the same people who are hitting the numbers, not disclosing relevant information, using 'generic' photos because they don't have the time to get the extra comp photo, making up answers to the questions (Zoning? It's R-1) rather than taking the time to research the issue properly, and every other snaky practice that discredits the rest of us.

With these clowns running around and calling themselves 'Appraisers', it's no wonder there are mortgage brokers who think that all they have to do is ask for the desired number and the appraiser shall provide. It's no wonder the AMC's think we will eventually all line up and hand them 50% of our fees just so we can be 'networked' with our own clients. It's no wonder that every ex-computer geek and car salesman thinks they can just slide on in and start netting $100K+ their first year. And it's no wonder that some of our own peers look at the appraisal profession as just another business to be grown, dreaming of offering an IPO and going public someday so they can pretend to be dot.com millionaires. Meanwhile, the appraisals they are putting out are suffering for it.

It all comes down to the one thing; do we care about what we're doing or is it really only about the money? Do we really define ourselves solely by how much we make? Because if the money is the only thing, there are easier ways to make a bunch of it. Everyone knows that appraising properties is not the way to build your 7,000 SqFt home, selling properties is. Making loans and bumping up your points on the back side is. Filing lawsuits on everyone in a transaction for no apparent reason is. Developing an AVM that will hit the desired number and making it look like an appraisal is. Almost anything and everything other than appraising has more income potential for those who only see green. These guys should go ruin someone else's profession and leave ours alone.

Incidentally, the USPAP applies to all services that fall under the definitions of appraisal, appraisal review and appraisal consulting; regardless of what these guys are calling them. So the debate as to whether it's OK for an unlicensed or underlicensed appraiser doing appraisals just because they fall under the deminimus is truly academic. The only question that is relevant is whether they are in compliance with our minimum standards or not. Just because an activity may not be illegal doesn't make it right. Or moral.


George Hatch
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
George,

You are truly gifted when it come to writing. I can't begin to tell you how much I respect you and appreciate your always excellent contributions.
 
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
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks