Shoddy Appraisers Are Rampant

[Overimprovement]

We seem quick to judge others in this profession.

That may be true to an extent, but I think many are tired of being snake-bitten by competing against the $250 crowd. How can they do a report for $250? Because many of them are downright lying cheating. They hire runners to 'inspect' the comps, and even then only when needed, even though our certs say that WE, the signing appraisers do. They are not measuring, we are, again as our certs say we do. They use the same canned commentary for every house, with nary a property specific comment in the whole report. We actually provide support for our adjustments specific to that property. We attempt to locate and use the BEST comps available and verify all the information. They find the first 3 comps that work (meaning support required value) and then upload the grid directly from the MLS, without verifying any of the info. We actually inspect the subject like we say we do. They have their spouse, brother or real estate agent friend do it. And then blatantly lie about it in the report.

And I have seen every single one of these examples, some reports have nearly all of them at once!

So yeah, they probably can do a report for that cheap, and I am tired of losing potential business because I play by the rules and actually do what I say I do on every report.

BUT, they are only partly to blame for being the habitual and unethical liars that they are. The lenders who accept the masterpieces of BP (boilerplate, I didnt mistype the second letter) also bear some of, if not most of, the blame.

I don't know, maybe we should be policing ourselves better, but I have never felt that was my role. But some of this garbage is giving our entire industry a black eye.

 

[Phil McDonald]

That may be true to an extent, but I think many are tired of being snake-bitten by competing against the $250 crowd. How can they do a report for $250? Because many of them are downright lying cheating. They hire runners to 'inspect' the comps, and even then only when needed, even though our certs say that WE, the signing appraisers do. They are not measuring, we are, again as our certs say we do. They use the same canned commentary for every house, with nary a property specific comment in the whole report. We actually provide support for our adjustments specific to that property. We attempt to locate and use the BEST comps available and verify all the information. They find the first 3 comps that work (meaning support required value) and then upload the grid directly from the MLS, without verifying any of the info. We actually inspect the subject like we say we do. They have their spouse, brother or real estate agent friend do it. And then blatantly lie about it in the report.

And I have seen every single one of these examples, some reports have nearly all of them at once!

So yeah, they probably can do a report for that cheap, and I am tired of losing potential business because I play by the rules and actually do what I say I do on every report.

BUT, they are only partly to blame for being the habitual and unethical liars that they are. The lenders who accept the masterpieces of BP (boilerplate, I didnt mistype the second letter) also bear some of, if not most of, the blame.

I don't know, maybe we should be policing ourselves better, but I have never felt that was my role. But some of this garbage is giving our entire industry a black eye.

There are bad actors in every industry. There always has been and always will be.

I don't focus on that small percentage. I focus on myself and what I can do to improve. The market is going to sort out the bad actors.

I remember many appraisal Mills in the past with only one certified appraiser and dozens of trainee appraisers. I once interviewed an appraiser from a mill who told me the only thing they did for two years was to inspect the subject and drive the comps.

Those people who ran those appraisal mills in my market have been out of this business for a long time and I am still here.

If you really feel like the bad actors is stealing your business and causing you harm then you can complain about that and even take action to do something about it. I would contend that an alternative and maybe more profitable approach would be to compete on a level where they can't compete. Begin doing litigation work, tax protest work or other areas where your report will be challenged. In that arena the diligent work you do will prevail.

If the mortgage market wants to accept the bad actor you described then that is unfortunate and that is the market. Just don't participate in that market and take your skills into a market where they are valued and appteciated. That just seems like an easier thing to do than trying to change the way things are in a market.

 

[jay trotta]

We seem quick to judge others in this profession. It is a good thing that we do more due diligence in our assignments before reaching a conclusion than we do when we pass judgement on a peer.

I appraise some pretty complex properties and I buy all of my cameras at the pawn shop. The resolution on my pawn shop cameras is already so high that I have to reduce resolution for reports. I keep a tape measure in my vehicle as a backup and use a laser tape which fits in my pocket. I keep my pen in my pocket and only pull it out to write things down.

My inspection packets are multiple pages because I am old and need big font and need to write big. At one time I could fit it all on one page. In fact, before wifi and tablets I completed inspections on a Sony Picture book and didn't need a pen.

Did he drive the right appraiser car and wear the right appraiser shoes?

Ya'll missed the biggest picture of all; Xray Vision Goggles and Zercon Encrusted tweezers, so U can peek thru walls, grab the small hairs and make em scream...….so they know they been appraised