Trainee Finally Making Ends Meet Shooting Comp Photos!

[wward35634]

It is on those folks if they are misleading their clients about you taking the photos. They are either disclosing it, or not.. If they are disclosing fine, but if not, could be an issue if you get caught up in it.

Did you tell your mentor/supervisor you are doing this on the side, to see if the are okay with it?

You might want to consider another way to make extra $....I know being a trainee is difficult.

J Grant.... Thank you for not being condesending. My supervisor is aware. He says as long as my license is attached, and they disclose, it is fine.

 

[wward35634]

whoops... duplicate

 

[bnmappraisal]

Yes, and to the best of my knowledge these are all non-GSE's (hard money)

Although I don't have any hard money clients right now, I do a decent amount of private (individual/agent) work (pre listings, "just want to know what it's worth" etc)

I have yet to be asked by any client to provide "current" pics. I do drive the comps. But all this is disclosed in the report and agreed upon when accepting the assignment.

 

[bnmappraisal]

So everyone you are working for is unethical.

I have to disagree MCG. I think it comes down to the SOW. Again, as I stated in my personal experience/practice, many times (almost always) private clients are ok with MLS pics (I've never used an "outside runner/pic taker" for my reports) if it's disclosed in the report.

 

[bnmappraisal]

I will add this for the OP: taking comp pics for appraisers for private/hard money lenders (as long as it's ok by the client in the SOW/LOE) as a side gig, that could be something. A person might make some decent $$$ doing this.

But, personally, I think it could be a slippery slope into their future appraisal career.

 

[wward35634]

look at the certification sections of the 1004 form (Fannie Mae 1004 March 2005)

Under the scope of work (which an appraiser's signature certifies) #3 states "inspect each of the comparable sales from at least the street"

Although you, personally as a trainee, may not be violating this ... the appraiser you are working with/for is if they did not also inspect as the Cert states

I have to disagree MCG. I think it comes down to the SOW. Again, as I stated in my personal experience/practice, many times (almost always) private clients are ok with MLS pics (I've never used an "outside runner/pic taker" for my reports) if it's disclosed in the report.

Thank you for the clarification. I think that the law is clear, and I can't be 100% sure where these appraisals are ending up... maybe some GSE.

I will say that SOW also says that the certifying appraiser also did the research and analysis as well (#4).... which makes being an AT .... overall, VERY confusing legally.

I guess I will just stick with real estate photography for supplemental income while continuing on my path to licensure. Thank you for the advice everyone Thanks BNM

 

[Mark K]

If the appraisers are disclosing the extent your assistance and their certification does not state that they personally inspected the comps, no harm, no foul.

A lot of people on this forum have a difficult time thinking outside of the Fannie/Freddie box and jump to conclusions; get used to it.

I don't do F/F work and probably only about half of my reports contain comp photos; my clients don't care. My certification does not state that I inspected the comps. If I choose to include them they sometimes come from Google Earth, MLS, county website, etc.

Sounds like you have yourself a profitable niche; congrats.

 

[bart nathan]

 

[glenn walker]

Good for you ..doing better than many appraisers : ) LOL