The Perfect Appraisal Request

[Wayne Tomlinson]

In Illinois, if you are licensed, then you do not have the option. You could likely do the work and be USPAP compliant and they would not even know the difference.

Point out to them, the USPAP requirements are to protect the lender/client. Ask if they don't care if they are protected.

Wayne Tomlinson

 

[Marcia Langley]

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

Ditto Wayne!

You lucky dog. Give yourself plenty of time to prepare; you want to get this right the first time.

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Their USPAP comment is quite odd. I wonder if they are trying to use their order form for other assignments besides to appraisers. They need to have a form strictly for appraisers.

 

[Karl]

Ask the one that sets it up IF YOU can : If it's in the morning take Doughnuts & Coffee If noon bring Soda & Pizza, Be sure to thank them for inviting you & for actually having a interest in the difficult job we do. Bring current USPAP furnish them with a copy they can keep & for laughs, sign it for them, they understand regulations especially NOW!! Got Mortgage letters bring them, they'll be shocked that you understand a part of their deilima. Above all thank them for wanting to know how the process works. Bring some blank forms ask IF they have questions.

They may NOT be asking for you to NOT be USPAP compliant they may have some other guidelines they want. They just may have it worded wrong.

 

[Judy Whitehead (Florida)]

I'm wondering....could she perhaps mean it doesn't have to be FannieMae compliant and not USPAP? One of the things that you could discuss is FNMAE "Guidelines" as opposed to reality. Such as, length of marketing time, distances, line items, gross adjustments, etc. That would also give you the opportunity to tell them about USPAP and how you MUST abide by them as opposed to the "guidelines" of Fannie. Perhaps she got the two entities mixed up......?

 

[Lawrence R.]

When you go, please say this for me.

You don't buy cars by the pound, and you don't appraise houses by the square foot.

That always drives me crazy when everybody wants to just break it down to $/ft.

I got a chance to do this years ago with a manufactured home retailer--Palm Harbor. I got to go up to their factory and give a seminar to their General managers about what we could and couldn't do, etc...

I learned more about the MH business that day then they learned about appraising, I think.


But it was a good chance to learn how things were done on the "other" side of the desk, and think that we mutually benefited.

It was a good source of work for about 9 months until I quit doing MH's altogether. The state went on a mad witch hunt, and I eased out.

I think it will be a good source of business for you...as those employees move around over the next few years, you will gain little toeholds in some new arenas.

 

[Rick Neighbors]

By the pound

I like that " Buying cars by the pound and houses by the square foot! "

I have a good friend that is a Real Estate Agent, and he is always trying to just break it down to the square foot. I always ask him if that includes the site, quality of the construction, amenities, etc. And he will say "Well, you know what I mean."

Yes I do, and if it was that simple, I would be out of a job.

My concern about the "perfect" appraisal request, is that every one I get from different lenders, is different. I would like to see Appraisers come up with an example that we approve of. One that we could recommend to folks like this bank when they actually ask for the help.

Rick

 

[Ken B]

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.

Can I steal your signature (line)?

 

[Esox]

If you haven't talked in front of a group of people before it can be daunting. Once you've done it once or twice it's not so bad. I used to feel exactly the same as Jim, one or two people and I was fine, a crowd not so much. I got over it but stumbled around the first time or two. I covered by making fun of my nervousness. since they asked for your input, you know they respect your opinion already, so your golden.

Karl had a great suggestion. Give them something to eat, some good info, and throw in a little humor. They'll like it a lot.


It's great marketing. Getting up in front of real estate agents is great marketing, too. Two, three, or four referrals a month adds up.

Kevin

 

[Mile High Trout]

"contractual obligation album"

Sounds like a great way to never get work from that company again. They already know the deal, and if they don't you'd better play it by the book 100%. I suppose it would depend on the commission structure, but if they are driven by profits on individual sale levels, nothing you say will make much difference.

"Appraising is about core American values & operation methods. It's true independant work, necessary to fulfill our obligation to the "checks & balances" systems."

Sounds hard to give a seminar to people you know for certain you will butt heads with constantly & indefinently. You should get paid for that as well, they are asking you to do it, because they have not invested in a new & reasonable training program. Sounds like they are using you for free to develop their new training manual. Instead sell them that service, and make a big buck.:new_2gunsfiring_v1:

 

[Tim Hicks (Texas)]

The perfect appraisal request is the one with a check attached.

If you need help, I will come to the meeting at the risk of stealing your client.