More AVM news

[BarbaraNJ]

Thank you, mreilly, for beginning this post.

I have been too busy to post for a few days, but did see this (same) article on the 'net.

Does anyone get this?????

Bit by bit, State by state, the AVM's will continue to USE (ABUSE) the legal system to force states---and likely eventually the federal government---to allow ALL LENDERS to use their services as an identical replacement for a full report done by a licensed appraiser.

I have a suggestion and would appreciate any feedback.

Our various organizations are currently doing NOTHING to help. They may be trying, but Management Companies and AVM firms are making the biggest inroads and getting all the attention rather than the individual appraiser.

How about this??
All the appraisal organizations gather together to create and run TV commercials, telling the consumer how important it is that their bank or mortgage company use a State Licensed Appraiser to get Quality work done for their money.

The diamond industry and others did this from time to time--not mentioning any specific state or business, but stressing the importance of quality. The commercials eventually became a part of the average consumer's selection.

If the commercial can convince the consumer that the only way they will get their "money's worth" is to get someone licensed, they will start to demand it.

Don't know if this would work, but all our dues, fees, meetings, lobbying, letter writing, petitions, etc. have done little good thus far.

What Do YOU Think???

 

[Don Clark]

8)

Good idea, if we could get all professional organizations as well as the NAR to cooperate. How likely do you think that is? However, I do believe we should bring this up to our various organizations.

Don Clark, IFA

 

[Pamela Crowley (Florida)]

Good idea.

But.....

Better not count on anything from the Appraisal Institute. They won't be on our side as they are promoting their AVM in cahoots with some of the biggest lenders.

The only way I see a potential positive way to fight this is to somehow get together and market reality to the buyers/borrowers. The Realtors, mortgage brokers and AVM pushers will not like it, but I do believe we can do this and make a huge difference. The biggest question is whether ethics and common sense can be brought back into this equation or has our society gone so far to the dark side that no one is left that actually wants the truth?

 

[Austin]

Pam wrote:

The biggest question is whether ethics and common sense can be brought back into this equation or has our society gone so far to the dark side that no one is left that actually wants the truth?

Pam, the answer to your question; "no one is left that actually wants the truth" can be answered by going over on to the Watercooler. That is where they hang out.