• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Turn Times

Status
Not open for further replies.

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Is it unethical to offer appraisals with a turn time a bit less than the standard to gain more business? If so, why?
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
Is it unethical to offer appraisals with a turn time a bit less than the standard to gain more business? If so, why?

#1: No.

#2: The time-frame for completing any requested service is not directly tied to a matter of ethics.

HOWEVER...as with offering service for a "cheap" price, "fast" work must comply with the same standards as though the assignment was completed "for a lot of money" at a "leisurely pace".
 

Lobo Fan

Elite Member
Joined
Nov 28, 2004
Professional Status
Certified Residential Appraiser
State
New Mexico
Watch out. There are some on this board that think only Skippies can offer quick TATs. Get ready to duck.
 
Joined
Jul 15, 2003
Professional Status
Certified Residential Appraiser
State
Connecticut
I agree with Lee's anwser 1 & 2, if you can turn a USPAP compliant report within a shorter time frame then your competitors, more power to you. But, if your "offering" unrealistic turn times and your reports are not USPAP compliant, then yes I would say it is unethical in both business and appraisal aspects.
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
Is it unethical to offer appraisals with a turn time a bit less than the standard to gain more business? If so, why?


No.

Scroll Down













































(long rant about the point of these posts to stir up and agitate people edited for time)
 

Walter Kirk

Senior Member
Joined
Jun 24, 2003
Professional Status
Licensed Appraiser
State
New Jersey
It's not unethical unless you intend to cut corners ie, fail to confirm comps, fail to check zoning or perform a H&BU analysis, fail to perform a PROPER cost approach. If you can do it properly in a shorter time do it.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
I have 24 hour turn times right now. If the borrower returns my calls. If the listing agent gives me access. If the lender doesn't cancel first. If I can actually get access. If it is not some broker who will not allow pay at the door.
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
I think you can only promise faster turn times with disclaimers if you want to be ethical. An appraiser has no say on how long an agent might take to return a phone call, or in the event of a tricky zoning situation, when the town might get back to you.

Plus, the proof of turn time and quality service is over several months. You can promise fast turn time and then the first 5 you get could be nightmares that take much longer than anticipated. That can harm your reputation because you promised something else.

I tell a client to give me 3 months to prove myself (a season). Appraising and baseball are a lot alike. Just like a slump, deals dying due to low values usually come all at once, as do tricky reports. But over the course of a season, a good hitter and a good appraiser will prove him or herself.
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
There was an appraiser in my market who years ago called his company 24hr. Turnaround Appraisals. He was very busy. He also produced arguably some of the sloppiest reports I ever reviewed. He also reached for the sky daily (but that is another point). It can be done Elliot but you will be working long hours trying to keep up and keep the quality at the level you are use to. Forget all the tablet,Disto etc... talk. That may speed up completion, but it won't affect the process of effectively and responsibly covering the SOW and all the bases. Good luck,.
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
Sort of rhetorical, but here goes.

Does anyone actually take more time than they need to finish an appraisal?

I mean, do you finish it, and then just let it sit there for a day or two?

this whole thread is pointless.


Everyone does the reports they do as fast as he/she is able to, unless they are just procrastinating and putting it off.

Like waiting an extra day after your inspection to do the SCA or looking at the clock and deciding you would rather wait to call zoning tomorrow because it is 4:30 and they might get pi$$y with you over calling so close to closing time.

Other that that, everybody's turn time is already as fast as it can be without changing the way you do a report. Talking about it won't change a thing.

Who really gives a crap about this silly ole thread anyway?
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks