Poll: How can they know?

[Lawrence R.]

Multiple Choice Poll

I too, think that the realities of appraising keep the idea of a ratings system tied to loan performance is too fraught with problems.

Many of which have been pointed out here.

How, then, do the users of appraisal services KNOW who the good appraisers are?

I mean, reviews are one thing, but this forum clearly points out that reviews are about as reliable as the method discussed in this thread.

So, how--rather what--is the objective(reliable) way for someone who isn't a valuation professional to KNOW they hired a good appraiser.

Membership in AI?

Certified Res?

Gertified Gen?

Doctorate in Economics?

Previous board member?

Referral from "satisfied" mortgage broker?

approved by an AMC?

been appraising 20 years?

The Fee they charge?

How fast, or slow they work?

have they ever been in trouble with a State board?


And, such was the point of this pointless post. It is my opinion that the general public has very little chance of having any way to know whether or not the appraiser they hired is a good one.

Perhaps your fee...

Which one of these credentials increases your chances of having an ethical, honest, competent appraiser show up at the door?

Tell me how anything you can dream up will identify you as a good appraiser to the non professional.

Sorry if this post is a bit "rant"ish, but I think this is why people have shied away from this profession as a method to determine a value.

They have no confidence in our "product"

 

[Marcia Langley]

Frankly, I don't think there is any way for the general public to know. Other professionals such as lenders and lawyers are experienced enough to do their own due diligence.

For general people, and not including very complex assignments, I think as long as they ask for the truth, they will get it.

I think the trick for the general public is to learn what makes an assignment complex and then question the appraiser regarding their experience in that area. Then simply ask for highest competence and highest ethics. And ask for the report to include the logic behind the conclusions.

 

[Mike Boyd]

Most people would ask,......"How experienced are you in this neighborhood?"

 

[Randolph Kinney]

I have gotten referrals from people that I have appraised their property for whatever the use was.

 

[c w d]

I'm with Marcia. It doesn't matter what group, business, board or references the appraiser belongs to, works at, participates in or get. I've seen my fair share of MAI/SRA bogus appraisals. Obviously the appraisal boards are turning a blind eye. Whatever business they work for fraud, unethical behavior is the normal course of business. References: I could have plenty of references if I could hit the number time and again. How can I have references when I can't facilitate my customer's business without committing fraud on a regular basis?

The only way for the customer to know if it's a good appraisal is to be an appraiser.

 

[Lawrence R.]

I'm with Marcia. It doesn't matter what group, business, board or references the appraiser belongs to, works at, participates in or get. I've seen my fair share of MAI/SRA bogus appraisals. Obviously the appraisal boards are turning a blind eye. Whatever business they work for fraud, unethical behavior is the normal course of business. References: I could have plenty of references if I could hit the number time and again. How can I have references when I can't facilitate my customer's business without committing fraud on a regular basis?

The only way for the customer to know if it's a good appraisal is to be an appraiser.

Exactly my point. Thanks.

 

[Mztk1]

The best way to know if you have a good appraiser is the same way to know if you have a good contractor or doctor or anything else. Research the profession, especially the area you need the service in so you have a good idea of what to expect, and then interview the appraiser before hiring him or her.

 

[The Warrior Monk]

It's a combination of things, the basis of which are experience and education, just like anything else in life. In my experience, there is also an element of common sense in appraising that some people have, and some people don't.

 

[Bama Bayou]

It's easy to find a good appraiser. Call them and ask for a comp check. If they tell you to get lost or hang up on you, you found a good one.

 

[JoeB]

I would agree education and experience are excellent catalysts, and are necessary to be a good appraiser. I would also agree it takes a combination of qualities to be a good appraiser. I also think the biggest crooks in the business, have been in the business for many years!
The question should have been: Who knows, who are the crooks, in the Appraisal business?
Thats an easy one, the local appraisers and Mortgage brokers!!