Owner Is Not An Appraiser

[George Hatch]

I think you already knew what you were going to do before you even started this thread, and are really asking for ways to justify your decision. So in addition to what everyone else has said, let me throw in a couple more sound bites:

You are known by the company you keep. Whomever is the weakest link in your shop is setting your reputation. Whether its the head appraiser hitting numbers, the trainees cutting corners, or the business partner offering kickbacks, your name is getting painted with the same brush. It won't matter how good your work is.

Appraising is not just another business. It's okay in most businesses to grow and expand into uncharted territory and promise beyond your capability hoping to work your way through it. Not so in appraising. Offering excessive discounts for volume, promising unrealistic turn times, allowing the client to think they're the king and you're the slave, and other pro-business attitudes may increase the volume of work in the short run, but it's not going to help your bottom line in the long run. These kinds of clients never stick when times gets tough.

You will eventually be given a choice; sell out or get out. It's just a matter of time, and when that time comes and you decide to take the longer view and do the right thing, they are going to proceed to trash your name all over town anyway. Regardless of your good intentions to get them to come over to the light, you will become the desigated villain by the time they get done with you.

You are an expendable asset. You cannot depend on ever getting support from management. Never forget that. When you and a client have a dispute, the client will always win and you will have to eat your words and change your opinons to suit. You know as well as anyone, the first time that happens it's like putting a "WELCOME" mat on your back. Everyone will be encouraged to walk on you.

I'm sure if you look around you can find another situation that will provide a better environment. There's lots of room for experienced appraisers out there. There's no point in making it personal with them, just move on and congratulate yourself on being too smart to get trapped in a bad marriage.

 

[deturner]

George,

You may be right that I knew the answer already but it was not definite. I don't want to just jump ship without a good reason. If I could make this work I would consider staying but it doesn't look like that will happen. The previous owner is so messed up when it comes to ethics (his signature and seal are sitting on the work table for anyone to use and they all have his password for the digital signature and even had the nerve to ask for my password).

I have even considered telling the owner to take an USPAP class NOW so he could get some idea about the business. This owner has never worked in Real Estate or Appraising and only knows the "business" aspects of it. However, I don't think the business will survive unless he learns the "appraisal" end real quick.

He is currently soliciting places like Landsafe and I am just waiting for the time he wants me to put my name on the desktops they have.

I have a week to make a decision so I think I'm going to have a pow-wow with him this week to see if he wants to do things right.

Dave in NC

 

[Farm Gal]

Dave:

It does sound like you already 'know' but I commend your idea of suggesting that he take a USPAP class.

This can be done in a non-threatenting way, and in such a manner that it puts you in as good a light as possible. (Gee are you aware of the liabilities and regulations covering this business that you have/are purchasing?) This would in many ways cover you in any later accusations, and permit a quiet head shake and comment: "I did suggest that the new owner attend a USPAP class".

I think you should HAVE that pow-wow, and then write a summary OF the discussion, date stamp it and put it in a file for later CYA purposes, regardless fo the outcome of the discussion.

Best luck in your decisionmaking process.

Lee Ann

 

[Travis McGee]

I guess I am cynical but I think A "pow -wow" meeting is a waste of time. Slick people know how to say what you want to hear, and promise things they'll never keep. It sounds like the writing's alreay on the wall, but you don't want to read it.

I disagree with calling the other trainees and telling them why you quit. This is your decision alone- and the new owner could sue you for slander, and for intefering with his business.

Likewise, you don't owe them a reason for leaving. A simple "I want to pursue another opporutnity" will do. Otherwise, it gets personal, and accusatory. The new owner is not an appraiser and is not bound by USPAP, in my opinion suggesting he take a class is niave. He just shelled out thousand for the business and wants to recoup the investment as quickly as possible, not sit in a USPAP class. Anyway, good luck.

 

[Tim The Enchanter]

Deturner,

Ever watch a race? Red Flags mean stop.
But you knew that.

you don't owe them a reason for leaving. A simple "I want to pursue another opportunity" will do. Otherwise, it gets personal, and accusatory.

And I agree with Jo Anne. Even if you don't care about burning bridges, you probably don't want to start a tire fire. Just head for greener pastures.

 

[Mike Simpson]

de-

I worked for 7 different outfits before breaking out on my own. Times would be slow at one office & I wouldn't hesitate to pull up stakes and move for my own financial well being.

In another case I worked for a short period of time for a company, and quickly realized that business was being conducted in a manner which I wanted no part of, and I was off to the races again.

In another example I has both the highest producing appraiser & the most fined! This outfit would set your due dates and if you didn't meet that date you were fined $25 a day. The straw that broke the camels back came when the bosses went on a white water rafting trip & required the appraisals to, therefore, be in two days earlier (than previously stated) for review. I couldn't possibly get all the work done & was summarily fined. They came back from the little vacation to find my desk cleared out--SEE YA! They wanted me back, but I'd found a new home & didn't answer their calls (wonder if they'd give me a letter of recommendation?).

The worst experience of all was working for a dog & pony show in which the owner was not an appraiser. That place had more chiefs than indians and was a horrible outfit to work for. If I'm gonna plow another persons field they better at least have qualifications similar or greater than my own...otherwise who needs em?

My wife & I have been in business going on six years now. Our future looks bright, we have relatively few problems getting paid (a huge problem when I was working for others), and just wouldn't have it any other way. No one cares or treats us as good as we treat ourselves.

Hang in there and do what's best for you!

-Mike

 

[Richard Carlsen]

Clean out that unused bedroom in your house, file a DBA, call Gateway and alamode, get another phone line run into your house and think of a good name for your new company. Then get some business cards printed.

Why hesitate? Just go out and beat the bushes and get some business, promising yourself that you will work hard to make your company name respectable.

Helpful hint #1: If I were just starting out, I would visit all of the real estate companies I could and tell them that you are not backed up with refi business and if they can recommend you to any lenders, you'll see that their sales appraisals get turned around mighty quick. It is a starter.

Helpful Hint #2: Keep your overhead at an absolute minimum as you start out. You'll last longer. That's why working out of your house makes so much sense.

 

[deturner]

Just so everyone knows, I once worked on my own but its been three years since I closed up shop. Back then it was tough but I was making a decent living at it until two of my biggest clients went belly up and left owing me lots of money.

I really don't want the headache of that again but it may be less stress than what I have now. (PS. Everything is already set up for my own office (computers, software, scanners, flood maps, extra phone line) but I'm hesitant about running my own business again. Right now I get plenty of work (almost too much) and get paid every two weeks for the completed work (no waiting to get paid when the company is paid).

I just talked to the previous owner and warned him to remove his signatures from the computers. I found out that he is still on contract to train the new owners after they complete the trainee classes but don't want to pay him anything for managing the office. I told him I wish he had told me he was selling because I might have bought it myself. (big MIGHT).

Anyways, they seem to want to do things right but have $$$ in there heads instead of what it's going to take to make the $$$ (i.e. new computers, software, better clients, and PAID MANAGING APPRAISER).

I already have another option and it's with someone I've know for years (graduated from school with his sister). He runs a reputable shop, pays the same I make now and is begging me to come work with him. I might take him up on it if this situation doesn't clear up FAST (like next week).

Dave in NC

 

[Mike Simpson]

Originally, I had no intention of working for myself. It was the repeated poor treatment and non-appreciation that basically forced me into going it on my own. Now I wouldn't have it any other way.

I've achieved things financially I'd never have been able to achieve working for someone else.

-Mike

 

[Michael Reilly]

Dave,

Never forget, adversity sometimes creates opportunity and that’s coming from a non-appraiser owner.

MReilly- NY, NJ, CT & MA
ACE :usa:

Happy 4th