The Perfect Appraisal Request

[Rick Neighbors]

My local bank President called me and asked me what I thought of their "appraisal request" as it was currently worded. She wanted to make sure that they had the "perfect" appraisal request.

I told her that I would review it, ask some of my esteemed colleagues for their input, and let her know what I came up with.

As a for instance, they have a line in their request that reads:

" The appraisal may vary from the USPAP Standards, but must include all pertinent data in regards to the evaluation method used".

She also asked me, after a rather long conversation about the appraisal business, if I would be willing to come to the bank and give a little talk about appraising. I told her that I would definitely give that some serious thought, but to my self I was thinking what a great chance to tell some loan officers where we are coming from as Appraisers. Now that I have been thinking on it, I'm concerned that I might not be able to get our "message" across to them.

What say you? ( About both the appraisal request and the "seminar".)

I value your input.

Rick

 

[redfish]

Tell them "it is what it is".

 

[Rick Neighbors]

Reply

Well, I think I would go into a little more detail than that.

She was asking questions about the 3 approaches to value, FIREA, competency, etc.

I hope to be able to give them a quick lesson in why we do what we do.

Rick

 

[woodyva]

Ihave done several LO seminars like this: they are a blast. Make sure you allow ample time for questionss. they typically have several.

 

[Wayne Tomlinson]

Get yourself ready and go for it.

That is an opportunity to die for.

While you are at it, explain why you cannot not be USPAP compliant even that is ok with her/them.

Good luck, and many happy call backs.

Wayne Tomlinson

 

[Bearslide]

What a great opportunity! Go for it - maybe you will be able to make a difference with at least one lender. I'm impressed they are asking.

 

[Joker]

Why would the order say that the appraisal can vary from USPAP? All of my orders say the opposite.

Welcome the opportunity, sell yourself and the profession. Don't preach; explain how an appraisal from a certified professional protects their assets and keeps them compliant with federal regulations.

 

[Hamlet]

I agree that is a positive sign if they are willing to learn the appraiser’s perspective. Pass on your knowledge to the grasshoppers, my friend.

Oh yeah, tell her that USPAP is not voluntary for an appraiser.

 

[Mztk1]

My guess is she says the appraisal can vary from USPAP because the bank is not federally regulated and they don't have to even use appraisers. In Florida, an appraiser by filling out the application commits to following USPAP even in non-FRTs. I don't know if that is true in every state.

I've been asked to do these before but I have an extreme fear of talking in front of people. I become self-conscience and being a person who lives blissfully unaware of himself, that is a very awkward feeling.

So what I have done is meet with individual LOs. I am much better one on one or even one on two or three. Once it becomes an audience though, I don't like it.

 

[Rufus]

A week or two before, type up a general outline of what you intend to cover and give that to those that will be attending. Ask them to write out their questions in advance. This will help you to fine tune your talk before you go. And as mentioned before, allow time for Q & A afterward for new questions.