Simply a new assignment?

[CANative]

I finished an appraisal yesterday morning for a large national lender which was ordered through their AMC. It was still in QC yesterday afternoon because one of the QC appraisers wanted me to add a brief statement on something. I'm pretty sure the client has not even seen the appraisal report yet.

This morning at about 8:30 a.m. I get a mortgage broker on the phone wanting to know if I will do a report for them because our mutual client (LOL) wants to try their luck with her. She is going to use another national lender that I also do appraisals for which are ordered by their AMC which is almost the same as the other clinets AMC.

I told her no.

I know we're free to accept new assignments but it seems unprofessional or maybe disloyal to be a part of an end run on my original clients deal. It seems somehow that this could be perceived as "causing harm" to them. After all they waited pretty patiently for this appraisal... it took me more than a week. If I accepted this "new assignment" and turned in a day or two while the original client was still figuring it out it seems like Client B would have an unfair advantage and I was the one the enabled it.

I'm not worried about USPAP jail, but it seems kind of low class or unprofessional. Should a decent amount of time elapse between assignments of this type?

 

[Ray Miller]

Hard call to make. But business is business. I would tell the new AMC or lender that it will take you a week to get the appraisal to them. That should give the other outfit time to make a decision.

 

[stefan olafson]

It sounds like you are turning down good money! My son mows lawns in the summer, he's paid by the job. If a client asks him to mow the yard each day to keep it looking great what is my son to do? Mow the damn lawn and charge accordingly.

Same in your instance, do the appraisal and charge accordingly.

We are not married to the AMC or lender/clients. When requested to complete work, do it if it's within your scope and within the bounds of USPAP, whatever they may be!

 

[Esox]

I've been known to say no thanks out of loyalty. I have a couple pretty good one man shop mortgage broker clients (yes they do exist) that occasionally lose a loan to another MB. Since they've stuck with me and respected my work, instead of searching out "skippy", I stick by them.

It really makes the slimier types unhappy when they don't get their way. I will often make my decision simply on how they approach me. It's not unusual to have a an MB get me on the phone and start a conversation with "I NEED you to put our name on this report". I prefer a polite approach where they explain the situation and ask what are their options. For the former, first I tell them I can't "reassign". Then when they understand that, I tell them I won't accept a new assignment. Drives them nuts. Sometimes the applicant then ends up back with my client when they find out they will be going through the whole process again with a different appraiser, another fee, and another wait while the new appraiser does an appraisal. Most likely because they found a way to save $100.

Sounds like your situation might be a little different. The above is my long winded way of saying, yes, I turn down work out of loyalty. I'm usually proud of myself when I do it, too.

Kevin

 

[CURT VAN HOOSER]

This very scenario happened to me a few years ago. What I came up with is that every broker and their brother, at the time, were cold calling the phonebook. I was getting two ad three calls a day myself. I can't blame the borrower for trying to find the best deal but they would start the process with multiple brokers which lead to multiple appraisals being ordered, a several brokers ended up either eating the cost of the appraisal or just ignoring payment to the appraiser in hopes that we would go away. Hence, my current stand on COD only. I did as you have done. I turned down the second order and cited client loyalty as the reason, in order to not loss future work from the second client. "I would do the same thing if the shoe were on the other foot," yada yada. I also informed my original client that the borrower was shopping so they might block the end run.

 

[CURT VAN HOOSER]

I'm usually proud of myself when I do it, too.

Kevin

He says while eating catfood out of the can with a rusty spoon....JK

 

[Marcia Langley]

Greg,

I think there are times when it is appropriate to turn down a second assignment for the very reason you state.

It's always good to get to appraise the same property again but you have to follow your gut.

 

[Esox]

He says while eating catfood out of the can with a rusty spoon....JK

Close, but it hasn't gotten quite that bad, yet. I can still afford Fancy Feast. My favorite is the COD, Sole, and Shrimp Feast. I eat it with a lobster fork, daintily dipping the pieces in drawn "I Can't Believe It's Not Butter" that has been gently warmed with a bic lighter.

Give it try. I call it Poor Appraiser's Lobster.

Kevin

 

[Mr Rex]

I still shudder at the sight of a guy I went to High School with that had developed a crack habit over the years. I was in line behind him at the grocery store, he had a 24 pack of Milwalkees Best, a couple of cans of dog food (the store brand), and a box of crackers. I joked and said it looks like the dog is eating better than the master tonight. He simply replied "What dog?" paid for his dinner and left.

 

[Mike Boyd]

If your original "client" was the lender, I would agree with you. Since it is an AMC.......what loyalty do you think they have for you? Certainly, for difficult, out-of-the-way properties, you are their man...........but, do you get ALL their work in the county?