More On Free Comp Checks

[fifteen]

Writing a number on a piece of paper is an appraisal too. They want to pay full fee for that? I could do that all day. New niche

Loan Officer: Mr. Apprazur can i get $250 on this.

Apprazur: Not there.

Loan Officer: Mr Homeowner we can't do business, apprazur says the value is not there.

Mr. Homeowner: I want a copy of that Apprazul, I'm entitled to it by law.

Loan Officer: Um, UM, well he just said it wasn't there.

 

[George Hatch]

I see it not as hiding anything, it's just ignoring the obvious. If the deal doesn't go through there's no paper trail and practically it's not going to come back and bite you. It's forgotten by all involved. Look at it as "forgiven". As far as USPAP requirements, I consider that much like jaywalking and walking up to a cop and telling them I've just committed a crime. Or making a mistake on my taxes and calling up the state to tell them I owe them $1,220.18 and I'll be right in. Or getting a free pass to a movie but giving it to someone else because if I'm going to watch the movie I need to pay - there's no free rides. I'm no saint in these matters although hearing some of the people talk here they must be. Is there a saint USPAP yet? There, but for the grace of God, go I. Try living within your means without compromising in some fashion. Nobody is perfect. Those among us that do their job ethically and honestly with all due diligence don't deserve scorn. JMO

Don't kid yourself - if an appraiser is routinely telling lies in their appraisal certifications then they are not doing their job ethically or honestly nor are they acting with all due diligence.

The crack about flouting our standards as being like jaywalking is real cute - it speaks to your perception of professional standards and what it means to be a professional appraiser. Niiice

I've been meaning to ask you something. Given your apparent attitude toward ethical conduct and all, I find your use of the term "Apprazur" as your handle on this forum to be ...unfortunate. Would you possibly consider picking a different handle?

 

[fifteen]

It's great you can afford to follow the letter of the USPAP, not all of us can afford to. That doesn't mean we don't do our jobs as ethically, morally and as due diligently as you. And that wasn't a joke or a crack about flouting the standards, it was just reminding all of you that you're human.
I actually asked today if I could change it and head surfer said no. Oh well

I'm doing a 1004 appraisal right now, a nightmare. I'll be lucky to make $10-15 an hour on it.

 

[Hamlet]

If your ethics come at a price you really need to consider another line of work.

 

[Michigan CG]

.......I actually asked today if I could change it and head surfer said no. Oh well......

Members of this site are allowed to change their name "handle" once. I will look into this for you.

 

[Michigan CG]

It's great you can afford to follow the letter of the USPAP, not all of us can afford to..............

If one cannot abide by the rules of the profession one should move on to a new profession.

If my wife, who has a license to prescribe narcotics, were to stray because she couldn't "afford" to abide by all of the rules of her profession she would lose her license.

Professional licenses should be taken seriously.

 

[George Hatch]

It's great you can afford to follow the letter of the USPAP, not all of us can afford to. That doesn't mean we don't do our jobs as ethically, morally and as due diligently as you. And that wasn't a joke or a crack about flouting the standards, it was just reminding all of you that you're human.
I actually asked today if I could change it and head surfer said no. Oh well

I'm doing a 1004 appraisal right now, a nightmare. I'll be lucky to make $10-15 an hour on it.

Your first sentence above directly contradicts your second sentence.

It's one thing to make a mistake. That's human. I never hassle people for making an honest mistake. Building a business plan around cheating is something else entirely. It's definitely not my idea of acting ethically, morally or diligently and it shouldn't be your version, either.

You can't have it both ways. You can't tell us that you can't afford to do the right thing in one sentence then presume to tell us that even though you're cheating you're just as good as any of the rest of us.

You're going to do what you're going to do and it's not my place to tell you to do otherwise. And I'm not. I am telling you that you can't do these things and still consider yourself the peer of someone who is doing the right thing.

Part of the problem or part of the solution - its always your choice. The only thing you can't do is try to have it both ways.

 

[George Hatch]

One more thing - here's a piece of advice. When it comes to clients, water seeks its own level. Clients tend to gravitate toward the appraisers who best meet their priorities. Oh, they may solicit appraisers they don't know for one-time assignments, but when it comes to return business (which is where the money is at), like seeks like.

If you're doing things you shouldn't be doing then the only types of clients you'll be dealing with on a regular basis will be those who have those expectations. If you ever get around to wanting something better for yourself and you decide to clean up your act I think you'll soon find yourself dealing with a better class of clientele. People who won't constantly be looking to abuse you. By your own actions you communicate to your clients how you wish to be treated. If you act like a dog on a leash you'll be treated accordingly. If you act like a professional then even the idiots will soon fall into line. They'll go elsewhere, but the other clients that have been passing you over up until now will come around. It will eventually work itself out.

One thing I learned a long time ago is that even the most crooked loan originator likes to think of themself as being just as good as anyone else. Kinda like the donkey appraisers amongst us. They don't like being forced to come out and actually ask their appraiser to lie for them; they're more comfortable when the appraiser volunteers to do it for them. When you start holding the line and maintaining the professional demeanor they'll find themselves on the defensive and they'll either change their tune or they'll move on. Either way you come out ahead - that type of client is never loyal to you anyway. Better to clear them out now under your own terms than to wait for them to burn you under their terms.

To be sure, the transition takes a while. It takes a lot of time and effort and hard work to get to the point where you can do what you have to do AND still make decent money at it. Professional reputations are hard to build and easy to lose. But if you're taking the long term view on your career it's the only viable way to make it from here to there in one piece.

You don't define how good an appraiser is by how much money they made when times were good. Any idiot can make money when times are good and a lot of idiots do; it's when times get tough that defines how effective an appraiser's business plan is. Personally, I think there are a lot of donkeys in our business who are about to get schooled on how long the half life of information is.

I wouldn't tell you these things and encourage you in this direction if I didn't believe it to be the only viable way forward for us all. I think if you search your heart you'll see that at least some of it is beyond refute.

BTW, there's no shame in working for $10/hour if that's what it takes.

 

[JSmith43]

Speaking of working for $10./Hr, I keep hearing references that HVCC prohibits "comp checks" & I didn't see that specific scenario addressed in the HVCC info on efannie.

That is too bad, because on active rain agents and brokers are crying in their beer about HVCC. Someone just posted that USPAP compliant comp checks weren't allowed by HVCC. I just can't find a specific prohibition, but I am sure George Hatch or a few others could confirm or deny.

It may not be possible in MN since it is probably still contrary to the rules and regulations governing licensed appraisers to perform a residential appraisal. The appraiser must perform an interior inspection

That came as quite a surprise to the AI guy that had advertised a seminar on how to do an exterior 2055 the right way, back in the '90's. Yes, I called him and faxed the applicable section to him.....wonder what happened?:icon_mrgreen:

 

[fifteen]

I know all that George but thanks for posting it. I've been doing this 20 years through good times and bad and this is about the worst. I'm not even getting comp check calls anymore lol. So that issue is most likely moot.

Mentor, I didn't see it specifically mentioned and I'm pretty sick of hearing about the "intentions" of the HVCC when if something were or weren't allowed it would have been easy to address directly in the document. One line - maybe 2? Easy enough. Seems the AMC's are thriving on the fear created by this abomination (HVCC). Heck, maybe they're even behind these rumors and wild interpretations.