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What's Your Policy Re: New Client

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Pine Tree

Junior Member
Joined
Aug 19, 2002
Professional Status
Certified Residential Appraiser
State
Maine
Good Morning One and All!

I was wondering how you all feel about new clients when a borrower defects from one lender to another.

This is not a question about how to re- address to a new client, or when it is permissable under USPAP.. This is about the apprasier/client relationship.. Are there times when, for one reason or another, you would not want a client relationship with the choice of the borrower? The lender world seems to take it as an automatic that the appraiser will enter into a client realtionship with any lender... and yet THEY maintain " approved appraiser" lists.. What about an "approved client" list??? :unsure:

Any thoughts on this? Wendy
 

jeff samolinski

Senior Member
Joined
Apr 18, 2003
Good question. Depending on my mood at the time I think I would ask the new client if they have an approved appraiser list and ask to be put on it( without sending them all the samples etc.. just my E&O copy and copy of license with resume) If they refuse then no appraisal. Kind of revenge for those that want your life history before they will put you on their approved list. Guess I'm in a confrontational mood today. Might be from reading Austin's posts.

By the way I would ask the new client for some things too, like is this COD since you don't know them or do they at least collect for the appraisal fee up front, how do they guarantee payment if they deal does not close etc...
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
We all get those calls, you were recommended by.... which really means, we picked you out of the phone book and since nobody else we talked to will touch this one, we called you.

I have asked for appraiser references, COD, a copy of their D & B rating, etc.

I think we all need to remember, we are business people, and while there are many rules governing our product, we still run businesses. If you dont want to work for them, or for the borrower, decline it.
 

Tater Salad

Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Missouri
For the past 2 months, I no longer re-assign my work. I always offer to perform a new appraisal, discounted a bit, and my turn-time will be good. Besides my own determination that I'm not USPAP comfortable with re-assignments, they always take more time than what they are worth and they always want it free and yesterday. I've been cussed at more during this time than any other :eek: . I've also gotten a few that understand and order the new appraisal.

I started to wonder if I was cutting my own throat, but then realized that the ones that are in a big hurry, wanting it done on the cheap, willing to cuss me out, were probably not the ones I wanted to do business with even when times are slow.

And there are some brokers that I would never do business with. Some I've had trouble collecting from. Others, I know from personal experience are crooks. They, too, will cuss you out if you refuse to work for them. I've been cussed at by better people :p . Follow your heart!

P.S.: Besides my approved client list, I also have a not-approved borrower list. You know the ones: they called screaming at you because the value didn't come in, or questioned your birthright because you obviously didn't know anything about the neighborhood (that you grew up in). I won't re-appraise their homes.
 

Sheikh Yerbouti

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Arizona
Everyone might want to read the Second Exposure Draft of proposed revisions to 2003 USPAP (check the website). Readdressing appraisals and performing new appraisals when one was just done for another client are covered in some proposed AO's. I'm already telling brokers who request reassignments that USPAP sez I can't.

Dave McReynolds
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Good question Wendy. I'm kinda like the others above, it depends on the attitue of the lender, and if they are known crooks. In general, yeah. But I re-inspect for a new assignment under UselessPoop. However, there are some I would not accept a request to "re-assign" if they were the last lender in the world. So yes, I do have an Un-Approved Lender list. ;)
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
I just finished an Update and Reassignment for a house that I've done three times in the past 4 years. The lender was new and a little pushy. they had to be reigned in and told how things would be but they accepted my solution to the problem. And my fee. I wanted to do it because the fellow is getting the run-around due to self-employment, etc.

I also just picked up two orders today from a lender who was referred to me by both the listing and the selling broker (different companies). In addition to the sale, which will get priority treatment, we received an order for a refi which will be run through the normal schedule process.

Take on new clients? You bet. That means you can take a harder stand on some of the slow pay and more demanding, unreasonable ones if you wish.

If we are in business to do business, why would you turn down new business?
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
New clients allow U to up your rates, set your term & Like others have said remove a clint that may not pay or have pesonality conflict with. Never give a new client the rate established with the old True & Tried clients.
 
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