Sample Appraisals

[NJ Valuator]

I cringe when sample appraisals are requested. What exactly do you redact? Do you include photos, maps, sketch, etc. or do you not include them?

 

[Gobears81]

I tend to get carried away in these cases, but redact anything that could potentially give away the property or the client. My sample appraisals are typically full of asterisks where a redacted statement was. If you have a statement saying the property is on the south side of X street, adjoining such and such uses, I take that out as they may be able to figure out what I'm appraising through process of elimination in some cases. Photos and maps would not be included in sample reports. I don't see any need to redact a sketch though, unless the property is so unique that the person could figure out what it is from the sketch. Most clients are perfectly fine with redacted reports, but I am on the commercial side so maybe it would be a little different for residential. You might explain that the deletions are due to confidentiality.

One other option-if you have done appraisals for tax appeals or for governmental entities, that is often public record (at least it is in Illinois). If the last qualifying appraisal that was done for that type of assignment was six months ago, you might explain why you are sending that one as opposed to something more recent.

 

[Restrain]

Change the Street to 123 Any Street, Anywhere, FL. Modify the Tax number, make the borrower something like John and Jane Doe, lender becomes A Lending Company, etc. Blur out identifying street names, etc from maps. Yes, if they really work at it, they can probably figure out where it is, but the idea is to take reasonable steps to obscure the data so as not to compromise data that should not be disclosed.

 

[Peter LeQuire]

I've found it helpful to talk with the client(s) for whom I did the appraisals I want to offer as work samples. Most haven't had a problem with me doing so: one required that I redact any information that would identify the subject property, the borrower, and the client.

 

[MEL]

I will not and do not send any samples. Any potential new client is welcome to use my first few orders from them as samples. I am not really concerned if they don't like my no sample policy as most of my regular clients never required them to begin with.

 

[Riick]

It's really very simple.
Remove whatever you see as necessary to identify the property, the owners, and the client.

12765 Lithuania Ln becomes --DELETED-- Lithuania Ln., and
Jobe & Antionette Liebowski become --DELETED--,
Ditto for parcel number, lot number, etc.
TooBigToFail Bank becomes --DELETED-- Bank

Subject Photos: Cut out visible # of address, and rotate left to right,
-or-
swap with a model match that *was* one of your comps.
Maps: Move (or Remove) the arrow for the subject.

 

[Zero]

Every year, it is a good idea to do sample appraisals on your own house and a complex/high-value house currently listed in your market (you can even go look at it...good market research for an appraiser). For assignment type on 1004 don't check anything, just write SAMPLE next to "other." Do not sign the appraisal and have disclaimers throughout that it is for sample purposes only. No assignment, no client, no risk of breaching confidentiality, no USPAP exposure. You should be able to demonstrate your expertise to potential clients. If they don't accept these, you probably don't want to work for them. If you outright refuse to provide sample work, they should refuse you. Would you hire someone to remodel your house who refused to show you previous projects?

 

[DWiley]

I would simply ask my good clients to sign a letter authorizing me to provide reports as samples to other potential clients. Covers you on confidentiality and saves the work of redaction.

 

[Terrel L. Shields]

saves the work of redaction.

I won't redact - too much room for error anyway. Just get permissions.

 

[GWISC]

Was informed by a good instructor that sending in a radacted appraisal to anyone other than the original client violates ethics. You are disclosing the contents of an appraisal completed for another client regardless of how much you redact. Discussing the condition, type, neighborhood and the final value estimate are priveledged to the original client. Would we like our accountants to simply redact our SS# and name from our tax filings they prepared for us as sample work when they apply to another accounting firm? Just get permission from a client. Flag some good appraisals which were coookie cutters that look good, get permission and attach the permission slip to the original appraisal.