Solicitation from another appraiser

[Flygirl 152]

I recently received a phone call from an individual who stated they are located in Southern CA and have recently acquired clients in Northern CA. He said he is looking for appraisers in this area, and would offer a 70/30 fee split, with payment from the borrower COD at the door, and then the appraiser sends the company the 30%. He said he had an order he needed help with, and asked me to send my resume and he would send me the order.

He said he was aware that value checks are not supposed to be done, and that I should go ahead and complete the appraisal. So instead of sending me the order, he sends me an email with a value check. I was very irritated, and tried calling him back to tell him I don't do value checks, but the person that answered the phone acted like they couldn't hear anyone on the other line which I knew was bogus. So instead I replied to his email and said I don't do value checks.

I did a search here on this forum for his name, and the thread for revoked licenses comes up but I didn't find his name on the plethora of pages. When I checked the OREA site, it says he is active and an AL. (With a 37,000 + - license number)

On their company website it indicates they cover several states. It's clear they are unethical and unprofessional, trying to get other appraisers to do their dirty work. During these slow times, I would rather go waitress at Denny's than deal with roaches like this!

 

[Tom Woolford]

At least the roaches at Denny's are smaller, and ony come out at night.

 

[Oh No Not Him]

And we wonder why the profession has been sullied.....

 

[Mike Kennedy]

SEND THE ADDRESS TO PAMELA CROWLEY........ AND SEND THE EMAIL ALONG WITH >>

http://www.orea.ca.gov/forms/REA_4001.pdf AND


Supervisor, White Collar Crimes Investigations Unit
http://losangeles.fbi.gov/territory.htm




PAMELA CROWLEY
http://mortgagefraudwatchlist.org/

 

[Ross (CO)]

Everybody and his/her brother is in the appraisal "management" business these days. It's all part of the "cover several states" mindset and is a Darwinian progression that comes with website technology. Everybody wants and expects fee split arrangements. The one sourcing the assignment never truly has any adequate INITIAL fee arrangement platform which creates any respectful residual % to the one who actually DOES the report.

I received an unexpected assignment a few days ago and since it involves an area I do not (and have not) regularly served before I merely GAVE that assignment to someone who can fulfill it accordingly. I did not do so under any requirement that we MUST split some fee simply because I was the source of the order.....to him. I phoned him, we talked about it, and I simply gave the order to him. He will get the full fee for completing the report. Who knows, maybe one day he will return a similar favor. The whole nature of fee-split is based on strings-attached. Doing the traditional and well-recognized service of Comp Checks.....is heaped with "strings-attached" !

I need to get my head examined.

 

[icisic7]

Ross, just curious... did you check with your client if it was okay to "assign" that job to a different appraiser? Or did you have the client send the order directly to the other appraiser?

 

[Ross (CO)]

Cindy,....The entity dispatching that assignment I mentioned is not an existing client of mine. (Isn't "mine" a funny word to use ? Like, one has them or owns them.) They sent this assignment out due to an officer position I (recently) held in our local appraiser association. That was the linkage that found me. The cover letter stated....."Can you help us to get this appraised....". I could also have an office team of other appraiser associates and thought of delegating it in-house and held a certain $-split. I work alone, anyway, so that would not have been the case.

The point is.....much of the newfangled fee-split practices have been morphed as a "Finder's Fee" concept rather than having two individuals working, discussing and reconciling the same assignment together.....and a respective % of the $$ might then go to the person doing that share of the work ! In many assignment delegation circumstances one finds a middle-person acting merely as the source of that order which another person then inherits. These are truly "Finder's Fee" scenarios.....and I'm sure that Deb's situation with these other folks would not have ANY of them doing 30% of the work, yet they expected to reap 30% of the fee.

The pre-comping and value assurance stuff is yet another scar upon the total appraisers' relationship debacle any time it happens. Sad, but true.