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Minimum Requirements for Approval

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Dee Dee

Thread Starter
Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I'm getting a little tweaked at a problem I've run into a couple of times since I started my own biz as a Certified Res. a year ago. I was a Registered Appraiser for almost 3 years before that, and logged well over the required minimum hours needed to test and qualify as Certified.
Some investors require a minimum of 2 years experience in order to be on their approved appraiser list.
Now, here's my beef.
In the past year I've done around 200 appraisals on my own, yet I know of other Certified Appraisers who haven't even done half as much active work over the past two years that they've been certified and they qualify to be 'approved'. The investors don't seem to care how familiar the appraiser is with the market that they are appraising, just that they've paid their annual fees and their license has been active.
Think about it....a person could get their certification, take two years off of work without one single appraisal, and as long as they pay their annual license fee they could jump right onto these approval lists. Is it just me, or does this seen completely unfair?
This really gets my panties in a twist!
 

Leon Stewart

Member
Joined
Jan 15, 2002
Dee Dee:

I think you are gradually becoming familiar with what the Appraisal Business is all about. Some users "say" they have certain criteria to put appraisers on their Roster, but in reality they can use whom ever they want. Their is no Law to truly keep them from discriminating against anyone. That's why many employ friends, relatives, and others based on what type of work they do, and I' m not talking about quality. That's how the system works, contrary to what the "blowhards" indicate.

leart3

P.S. By Investors are you referring to Lenders,Banks or Mortgage Brokers? By Annual Fee's are you talking about Fees to Renew your License?
 

Dee Dee

Thread Starter
Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
You asked:

P.S. By Investors are you referring to Lenders,Banks or Mortgage Brokers? By Annual Fee's are you talking about Fees to Renew your License?


Yes to both.
Business politics are not new to me, my husband and I have been self-employed for many years, but in this case the politics irk me more than usual.
I get the impression that the investors are overlooking the fact that they should give more consideration to an appraiser that is familiar with the market, rather than simply looking at a license that could be covered in dust. Not just because it would benefit me if they were to do so, but for their own protection.
This particular investor is going to let the one appraisal that I did go through this time, but won't put me on their list for another year and will not accept anything else from me until then. I was assured that the appraisal that I did was just dandy...they thought it was great and underwriting had no questions about it.
Still pouting here.
 
Joined
Jan 16, 2002
Dee Dee:
Some things never change. It was that way 24 years ago for me, and still is because I'm not good at golf and/or politics. Don't worry about it, grind and bear it, besides what's another 365 days, you can do that standing on your head :)

I remember some local bigshot with three letters after his name, banks thought he walked on water. The reality was that he had'nt been in the field since Ford invented the Model T. Had a bunch of young people with less experience than you actually doing the appraisals. Never found a number he couldn't make. Probably contributed significantly to collapse
of several banks during the S&L collapse of the 80's. The beat goes on.
Guess what, his kids are still running the show and still get biggest piece of the local action.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Dee Dee Darlin......

You need to deal in reality! The lender, banker, broker, etc. could care less about being fair. The want their deals to work and we stand in the way of that. They will use the appraiser who gets the job done with the least amount of problems in the fastest possible time.

Now, does that mean we "cave in"? You have to answer that for yourself.
Write a cover letter to include with your approval package EXPLAINING why you are the BEST appraiser in the market. Marketing 101...sell yourself first.

Someone wrote...."the banks used the guy with the letters behind his name". Of course, back in the old days that was the way they could tell someone had some form of training. Today that doesn't apply with residential work...they flat don't care.

If I was a young, good lookin woman, I would put on a skimpy red dress, , and ahhhhhh,......gosh this is going to get me into more trouble than it's worth, lol. I think you get the point. Oink, Oink!
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
Dee Dee:

You need to start adopting my attitude. Oh well, so they call their favorite appraiser from 125 to 175 miles away. I just do a review of the report later, because the out of town appraiser is not approved or there are so many red flags the underwriter had a heart attack or in six months I'll be doing an REO. Of course, by then the borrowers, who should never had gotten themselves in such deap financial trouble (although at times that can't be helped) and have lost their home. But as I read the trust sales each week in the local paper, I can't help but mutter to myself--why didn't that loan office with the fly by night mortgage company listen to me last year? Because I will recognize the address or borrower and a phone slamming down in my ear in the past. So just hang in there, eventually you will be completing an appraisal of the property some day anyway!
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
But Oinker... oh, I mean Mike, :lol:

If I had to do that to get business, I'd lose all respect for those Bas****s.
 

Dee Dee

Thread Starter
Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Jo Ann,
You're right...if I keep doing my job well and ignore this kind of thing, then sooner or later I'll get the recognition. I'm just not being patient enough, I guess (not one of my virtues). What can I say...I don't suffer fools gladly. But that sounds snobby so better to just keep my mouth shut and ride it out. Thanks for the advice.

Dee Dee
 

Dee Dee

Thread Starter
Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Mike,
Soooo....you're telling me it isn't worth it to get all of those fancy letters after my name? That's fine with me...I hate studying for those @#$% tests.
FORGET the red dress idea :eek: . No way...that's not me at all! They'd think I was a realtor and boot me all the way down to the city! YUCK! EEWWW! I want to gain a reputation around here, but not THAT kind! :lol: :lol: :lol:
 

Leon Stewart

Member
Joined
Jan 15, 2002
Dee Dee:

Any changes that will occur will be for the worst as far as the appraiser is concern. With the reduction in the need for "Full" Appraisals, it's only a matter of time before non-appraisers will be doing much of the Residential Work.

leart3
 
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