• 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.
Status
Not open for further replies.
Can you help me understand what S3 reviews are (and clarify about the s3 product)? I remember calling BREA when I first started, but they said that my review hours wouldn’t constitute as trainee experience. I’m wondering if there’s some other route to go about it, similar to what you’re saying
Standard 3 - if you're doing this as a trainee with a supervisory appraiser, you should be able to get credit for those hours. At least you can in Texas.
 
They’re all in locations I wouldn’t want to relocate to (we work together remotely). I believe they want to stay on the review side as well
They probably aren't allowed to take in outside work.
 
Standard 3 - if you're doing this as a trainee with a supervisory appraiser, you should be able to get credit for those hours. At least you can in Texas.
In our state SR3 hours only count after the appraiser has accumulated 400 hours of real appraisals.

The OP works for an AMC. Their day job is literally tapped in to all the various types of work that their clients are engaged in. The OP might be able to work something out with their day job to perform desktops and hybrids.

BTW, if the CR employees of the AMC are within driving distance of coming into the office then that means the OP is also within driving distance of their areas of operation.
 
With all due respect, it's slight unnerving to think you're a review appraiser, without ever having been an appraiser.
100%
 
And pay no attention to the nay-sayers. Everyone breaks into the industry in different ways.
I don't blame the OP personally, I just don't like my work reviewed by someone without experience completing appraisals. The issue I have is the AMC which I assume cheapened out by paying less to someone without experience and/or someone they felt they could manipulate better. The experience is helpful, there may be things you have to unlearn.
 
I don't blame the OP personally, I just don't like my work reviewed by someone without experience completing appraisals. The issue I have is the AMC which I assume cheapened out by paying less to someone without experience and/or someone they felt they could manipulate better. The experience is helpful, there may be things you have to unlearn.
I guess for me, it depends on what level of review they are performing. If it's a checklist review, where they are checking off a list to ensure the appraisal has all the required documentation, I could care less whether it's a human or a computer reviewing my work. If it's a review of my methodologies, comp selection, analysis, opinions and conclusions, I fully agree - it should be a credentialed appraiser performing that level of review.
 
And pay no attention to the nay-sayers. Everyone breaks into the industry in different ways.
Thank you, sir. 100% agree. I've entered into the industry in a different fashion than the majority, which naturally concerns people. But I have supervisors even on the review side (that's at least how I see it) and I've learned tons.
 
Go for it review until your heart's content. Hell, we have people from India reviewing appraisals, so what's the big deal.
 
I have gained lots of experience in the appraisal industry over my last 8 months working as a review appraiser and would like to apply my knowledge working for a supervisor.
What you have learned "reviewing" reports might not apply to the real world of appraising at all. Most AMC people who "review" are looking for AMC requirements or lender requirements and not looking at USPAP adherence. They are not looking at comp selection or adjustments and if they are realistic.

Some AMCs still teach their "reviewers" that the appraisal must adhere to FNMA 15%, 25%, one mile and five mile guidelines that were retired six or seven years ago. AMCs use PDF checkers looking for key words. That is not reviewing.

Reviewing is about credibility of the report. Reviewing is about local knowledge of the area. Reviewing is about seeing if the analysis makes sense, if the adjustments are logical and supported.

My last couple of review assignments have been divorce reports. The latest one the attorney asked me to review the report and tell her why the other guy was $30,000 higher than I was. I didn't do a stand 3 appraisal or report to standard 4. I looked through the report, we used two of the same comps. One comp he used had a five-acre site while the subject property had less than 1/3 acre. His adjustment for the land area was not sufficient leading to an adjusted price that was too high.

I then looked at his adjusted spread which was about 15%, a little high for my liking for this simple house. Finally, I looked at the reconciliation and how he decided on that final opinion of value and there was no explanation.
 
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
Back
Top