• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Realtor pressure on appraisers is okay in Wisconsin

Status
Not open for further replies.

Timothy Fierek

Thread Starter
Sophomore Member
Joined
Apr 24, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
It is very disheartening that realtors can call an appraisers clients and have appraisal assignments re assigned to "an appraiser that the realtor approves." It is even worse that the state will allow it to happen. Even worse when they do go with another appraiser that provides a blatantly inflated appraisal to close the deal, especially when the home was misrepresented and a fraudulent condition report was provided.
Make a mistake on an appraisal and the state basically castrates the appraiser.
Is it because the realtors are such a large group with a lot of money and lobbyists? It seems pretty obvious to me that all of the new proposed regulations are just putting the appraiser on the pedestal and putting all of the liability on the appraiser for absolutely anything that goes wrong. I did not get into this profession to be someone elses scapegoat, which it seems like appraisers are and have become.
All of the new and proposed regulations are a smoke screen as FHA, HUD, Fannie Mae, Freddie Mac, etc. really do not give a crap unless they are losing money. I am taking every fraudulent cranked appraisal that has come over my desk in the last 10 years and filing separate complaints on each with the state. If they are not going to go after the realtors and others inducing the pressure, then they can punish the appraisers that are doing their dirty work.
Oh yeah, anyone else notice appraisers travelling from 300+ miles into their primary territory and getting paid twice what you are from AMC's? It has become common practice in the 12 counties that I cover in NE Wisconsin. Some of these appraisers have got their comments on lack of information, lack of original comp photos, etc. down to an art form.
This industry is becoming a joke.
 

Smokey Bear

Elite Member
Joined
Dec 8, 2004
Professional Status
Certified Residential Appraiser
State
California
WHAT??? Oh, it's Wisconsin. Par for the course. Someone needs to clean up that state.
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
...
All of the new and proposed regulations are a smoke screen as FHA, HUD, Fannie Mae, Freddie Mac, etc. really do not give a crap unless they are losing money...

There is a certain amount of truth in your words.

Though I admit to painting with a very broad brush, I have believed for a very long time that the lending industry (not including the QC folks) would rather make a loan--that they really want to make--with a "garbage" appraisal vs. not making that same loan with a "perfect" appraisal in hand.

Those in the lending industry charged with loan production will lose their jobs a whole lot sooner if loan quotas are not met vs. later having some loans turn sour and finding the loan files stuffed with those "garbage" appraisals.
 

ValueIdaho

Freshman Member
Joined
Nov 13, 2008
Professional Status
Certified Residential Appraiser
State
Idaho
I sad thing with real estate agents is that we have allowed them to get into the position they're in today.

How is it that a supposedly impartial and independent appraisal industry has to pay dues to the NAR and other local "Realtor" associations in order to gain access to data and lock boxes.

Realtors have been given WAY too much power and leverage in real estate transactions. Everyone caters to them for business: title companies, lenders, home inspectors, and occasionally appraisers. They make a killing for what they actually do, and they have the least amount of liability when compared to the rest of the industry's players.

The problem is that instead of doing something to stop it, appraisers sit at their desk with their head down until something bad comes along and smacks them in the face. Instead, we should be pre-emtively working towards taking our industry into our own hands and not only concentrating on getting the next report out the door.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Is it because the realtors are such a large group with a lot of money and lobbyists?
Yes

How is it that a supposedly impartial and independent appraisal industry has to pay dues to the NAR and other local "Realtor" associations in order to gain access to data and lock boxes.
As long as the Realtors control the keys to the kingdom with the blessing of Uncle Sam, then nothing will change...pressure always pressure
 

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
How is it that a supposedly impartial and independent appraisal industry has to pay dues to the NAR and other local "Realtor" associations in order to gain access to data and lock boxes.
So they should give away their data and allow any Joe access to lock boxes?
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks