Eli
Elite Member
- Joined
- May 12, 2007
- Professional Status
- Certified General Appraiser
- State
- Tennessee
The scrutiny and limits on # of trainees for appraisers is greater now than in the past, however the client ordering of fast/cheap is problematic. RE agents efforts at interference have had zero impact on that, it has resulted in certain clients imposing a 30 mile limit for appraisal ordering.
I certainly don't see RE agents as solving the problem, any positive impact their interference with appraisal matters will have a far greater negative impact. The stress and time wasting they wreak with their threats of filing complaints and sending poor data ROV is the final straw that has even more good appraisers exiting the field. RE agent/REALTOR forays into appraiser matters to date has been a disaster from the housing collapse followed when they controlled selection via mtge broker with rubber stamping of prices rampant, to their grabbing valuation business by doing BPO's for lenders on the REO and short sales that followed the collapse, to their winning the right to an ROV that is adding unpaid hours to appraisers obligations, to their covert arrangements with lenders for lists of go to number hitters to their bully tactics of refusing entry to appraisers to their media articles about how appraisers are slowing down the market by low balling, etc.
One only has to look at most MLS listings to see the ineptitude of agents regarding property. They list a condo as a townhouse if it has a townhouse design. They list above ground pool as it is is an in-ground pool. They call a corner of balcony sliver of view as a full ocean view. They add garages to living area sf. Same with guest houses. No negative feature of a property is ever mentioned, unless the property is a wreck and then it's called a fixer upper. Their comp choices on an ROV are a joke. Many of the listings are priced so badly they sit on MLS a year or more before finally reduced to a realistic price, or go into expired or cancelled. They add lot size to living area and divide that for a price per $sf of the dwelling. RE agents show such gross ineptitude regarding facts about properties it's incredulous to believe they are capable of determining appraiser competence ( besides the issue that it is outside their licence level, role as vested party and a lender allowing them to do has violated regulations)
I could see the lawsuits and restraint of trade complaints flying if appraisers took it upon themselves to vet RE agents for competence and blocking their efforts to list or sell property if we deem them incompetent or living too far from a listing .
Good stuff J. Please don't misunderstand me. I am in no way advocating re agents being the judge, however if they were to recognize gross incompetence and not be able to resolve the problem diplomatically through the appraiser or lender, then they might file a complaint through the commission and get rid of some of these incompetent low fee people calling themselves appraisers (some even without a trainee's license). I am in no way in favor of the crap that hard working honest, competent appraisers have to weed through from incompetent re agents and AMC's. Plus it looked like what DC was referring to was going through the local re board/commission, which I would think would not openly stoop to some of the tactics used by some unscrupulous individuals.