• 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.

Relocation "turn time" question

Status
Not open for further replies.

Doug in NC

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Although most relocation clients seem to ask that the appraiser not discuss appraisal turn times with the homeowner, more often than not, the homeowner very frequently asks what my appraisal turn time will be. I'm just wondering what others tell the homeowner when they ask this question. Thanks.
 

Judy Whitehead (Florida)

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Florida
I usually tell them that I am not sure - that I have just started to work on it and haven't completed my research yet to determine a time line.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
More than a day, less than a month. :)
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Why niot tell them the truth, that your client doesn't want you to discuss this with them.
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
Gotta go with Rex on this one...Why lie when the truth sounds better?
 

Doug in NC

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
I hadn't thought about it, but most often the question comes when the homeowner is doing the appraiser selection. So, technically it doesn't matter what I tell them, because the assignment hasn't actually been ordered yet. The turn time directions are included in the scope of work requirements with the order. I have conditioned myself to answer that most clients prefer for the appraiser to not discuss the topic, stressing only that I do prioritize these assignments and assure them that the assignment will be completed very quickly. Just wondered how others were handling it, because it does come up frequently.
 

Esox

Member
Joined
Apr 13, 2008
Professional Status
Certified Residential Appraiser
State
Wisconsin
You're right. Doug. I have a standard spiel I go through when at a relo property, and one of my questions is if they have any questions about the process. The first one is almost always "how long".

I tell them the truth. The relo company has asked that I refer you to them with all timing questions. I tell them I am provided with expectations on turn time that I do my best to meet. During interviews I tell them I will call within 24 hours of the request, can typically get through their property two to four days after that, and then do my best to follow turn time guidelines that vary by relo company.

It ticks me off when they say "the other appraiser said it would be done in two days" or something along those lines. The nice thing about relo requests is they spell it all out. I hate it when other appraisers don't follow the client guidelines.

I did an appraisal not long ago where the other appraiser had a long chat about how bad the market was with the transferee, telling her that his/her estimate would be much lower than the "true" market value because relo companies want low numbers in tough markets. I'm sure the corporate clients want their transferees hearing that.

I had a little talk with the client after that inspection, and I expect he'll/she'll be seeing fewer relo requests going forward.

The toughest question is when they know too much and ask you to explain forecasting. That's a tricky one.

Kevin
 

Doug in NC

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
It ticks me off when they say "the other appraiser said it would be done in two days" or something along those lines. The nice thing about relo requests is they spell it all out. I hate it when other appraisers don't follow the client guidelines.

I did an appraisal not long ago where the other appraiser had a long chat about how bad the market was with the transferee, telling her that his/her estimate would be much lower than the "true" market value because relo companies want low numbers in tough markets. I'm sure the corporate clients want their transferees hearing that.

I had a little talk with the client after that inspection, and I expect he'll/she'll be seeing fewer relo requests going forward.

The toughest question is when they know too much and ask you to explain forecasting. That's a tricky one.

Kevin
It always does come back to "well the other appraiser said ...". The competition has a way of making our jobs harder, not just through competitive pricing. Most assignments make it clear that market and valuation analysis are not to be discussed with the homeowner. Some appraisers apparently don't read their assignment instructions very closely, and some aren't familiar with ERC policies.

I walked up to one house at my scheduled appointment time (not aware that another appraiser was inside) and as he was leaving, the other appraiser came over and tried to strike up a conversation about the property. The two relocation appraisers should not even be on the same property at the same time, let alone chatting with each other. I can just imagine what the transferring employee was thinking ("collusion"). Yes, appraisers not following ERC policies make our clients look bad in the eyes of the homeowner customer.
 
Last edited:
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