ValueNet

[chad hampton]

There is no substitute for having a local expert spend the time necessary to compare and contrast the subject property they walked through, with confirmed comparable sales listed in the MLS.

I've ran plenty of data sets through software analytical programs with the hopes that it spits out something reliable and credible. It never does. Some people just like to look at charts and graphs I suppose. I've taken enough statistics classes to know, garbage in, garbage out. You can use the same data to show a 5k adjustment for a screen porch and a 30k adjustment for the same screen porch. The appraiser better be competent in the local market to know what the market will really support. Otherwise, it's all garbage.

 

[ucbruin]

@DWiley

Can we be in agreement that the appraising and completing a report back in the '80's and '90's tool much less time than it takes today?....
Just with busy work....

"Now, having said that, it does require something that many just aren't strong at - time management. It requires things like scheduling report writing time, and sticking to the schedule."

I'm sure you ran a tight ship back in the day as the owner of an appraisal company....
And I'm sure had strong time management skills....
But to complete any amount of volume in 48 hours or less from the time you inspected the property....
The Book of Adjustments was more important than strong time management....
Which I'm sure every large office employed....
Including your's....

 

[DWiley]

There is no substitute for having a local expert spend the time necessary to compare and contrast the subject property they walked through, with confirmed comparable sales listed in the MLS.

I've ran plenty of data sets through software analytical programs with the hopes that it spits out something reliable and credible. It never does. Some people just like to look at charts and graphs I suppose. I've taken enough statistics classes to know, garbage in, garbage out. You can use the same data to show a 5k adjustment for a screen porch and a 30k adjustment for the same screen porch. The appraiser better be competent in the local market to know what the market will really support. Otherwise, it's all garbage.

Some valid points. But those valid points don't address the issue - how do large volume users quickly and easily tell the difference between a good report and a bad one? We have to solve that problem to stem the current tide. If the "report" included a window into the underlying analysis, then at least the user could make a quick determination as to whether or not the analysis seemed credible.

I like good quality reviews as much as anyone, but the reality is that a STD 3/4 review on every report is simply not economically feasible - not for an AMC, not for a direct lender, not for any high volume user. And besides that, it should not be necessary if the appraiser really is doing the job correctly. If we can crack this nut, and change basic report content to demonstrate the credibility of the analysis, then perhaps the tide of "alternative products" can be slowed. And, as a side benefit, I think fees would increase as well.

 

[George Hatch]

MAYBE the marketability of a super-1004 isn't dependent on every appraiser being willing to do such work. Just as with the hybrids, MAYBE the power users only need a relatively small minority of appraisers to adequately service that demand.

 

[J Grant]

lower fees and volatile work flow means fewer appraisers can hire assistants and in addition the minutia of UAD and CU and stips etc mans a lot of "dead time", aka time spent on non critical to value housekeeping nonsense. A good number of fields on URAR have nothing to do with the value or support for value- Leave out a "comma" and UAD does not pass a report, for example

A problems with appraisals is they are like tax returns- DULL reading. Because of format, appraisals, as tax returns look similar to each other. But ONE good finding in either, or ONE bad evasion, or significant error in either a tax return or appraisal can have ramifications.

Narrative comments can be extremely important, but how many who even read them appreciate it or understand it even if clearly written.

A deeper problem is a client goal is often the opposite of the appraisal result (Shoot the messenger syndrome ) No matter how good the narrative /well supported the value, if an appraisal "kills the deal", the client will want to discredit the appraiser, find fault with the report etc. THAT is why appraisers develop an "attitude" over time. Kick a dog enough and see how nice that dog turns out.

I understand the client object to "attitude", and some appraisers have it at a problematic level. BUT remember the smooth charming, good communicators are usually SALES PEOPLE, who are taking your money or pressuring you as they communicate so well.
Appraising is not supposed to be a popularity contest. A gruff, cranky appraiser if they do good work and can stand up to the pressure is worth more than a glib charmer /communicator who does crappy work or deceptive work While customer service is important, making this so much about customer service and fast delivery clashes with the qualities needed to do good appraisal work .

 

[CANative]

* Getting ready for $1,500 1004's with 30 day turn times. Can't wait.

 

[DWiley]

While customer service is important, making this so much about customer service and fast delivery clashes with the qualities needed to do good appraisal work .

Good quality and good service are not inherently mutually exclusive. Just look at the recent thread about customer service where an appraiser admitted that he "sat" on files and did not upload them until the due date, even if the report was already finished. Look at the posts we have seen where people brag about not answering the phone or not replying to email. How would that make you feel if you were the paying client? I am not saying everyone has to be a superstar at service - we just need to reduce the number who totally suck at it.

 

[DWiley]

* Getting ready for $1,500 1004's with 30 day turn times. Can't wait.

In what I envision, turn time should not be affected. I am not asking for any analysis that isn't already required

 

[CANative]

In what I envision, turn time should not be affected. I am not asking for any analysis that isn't already required

It's not the analysis. It's the reporting.

 

[TRESinc]

Some valid points. But those valid points don't address the issue - how do large volume users quickly and easily tell the difference between a good report and a bad one? We have to solve that problem to stem the current tide. If the "report" included a window into the underlying analysis, then at least the user could make a quick determination as to whether or not the analysis seemed credible.

i think you will get some serious pushback from appraisers who are nothing more than form fillers on this topic. you know the ones, some of them are here - they do nothing but post random thoughts that are not based in reality. then again to be against this idea they would have to admit they are form monkeys, and they are probably smart enough no not do that, at least on a public forum.

lower fees and volatile work flow means fewer appraisers can hire assistants and in addition the minutia of UAD and CU and stips etc mans a lot of "dead time", aka time spent on non critical to value housekeeping nonsense. A good number of fields on URAR have nothing to do with the value or support for value- Leave out a "comma" and UAD does not pass a report, for example

so if it doesn't directly change the value in some way it is not important and just minutia and "housekeeping nonsense"? that's a great attitude to have as an appraiser. i bet your clients would love to hear that nugget.

Good quality and good service are not inherently mutually exclusive. Just look at the recent thread about customer service where an appraiser admitted that he "sat" on files and did not upload them until the due date, even if the report was already finished. Look at the posts we have seen where people brag about not answering the phone or not replying to email. How would that make you feel if you were the paying client? I am not saying everyone has to be a superstar at service - we just need to reduce the number who totally suck at it.

how about the duh-ppraisers who have posted that they accept orders only to let them sit with no plans to complete them? what about those who have posted they have specifically bid super low to get an order so that they can hold it hostage and not progress?