Which Topic Fires Up Appraisers More?

[J Grant]

No , read it again, it's mainly intended users but by extension includes the public in an abstract sense.

 

[Joe Flacco]

Every week there are new threads on this site which demonstrate that posters are not competent to handle the assignment. There are active threads with these idiots right now. These idiots get assignments because they are cheap, fast, or both. These idiots getting the bulk of residential appraisal assignments erodes public trust in the profession.

 

[ucbruin]

Imo, this OP lacks perspective on why or how fees interact with public trust. Whatever fees an appraiser charges, or if fees are an issue they "get fired up about" has nothing to do with their work quality. It is in their appraisals that USPAP public trust standard is upheld.

The fee and public trust get enmeshed when client assignment conditions or methods of selecting of appraisers puts the appraiser in a position where their work can get compromised, or they have to choose between economic survival and compromise. This has long been the problem and post rank Dodd sees increasing failure of firewall since the firewall companies have their own profit vs ethics dilemma to stay in business. If third party ordering was supposed to be about a firewall than it shuld be separated from lender/client business relationships , such as fed or state AMC's by bid contract rather than AMC's as private enterprise with their own dependence on a lender to for business and their own fee motives and deal motives about which appraisers get the work.

Either have a meaningful conversation about the issue or not.....or keep repeating the same juvenile ha ha see appraisers only care about fees false analogy

Fees don't impact how I appraise....
Since some/many/all AF members may have their personal opinion of my appraisal quality that may either be a good or bad thing....
There should be no correlation between fees and quality....

"Either have a meaningful conversation about the issue or not.....or keep repeating the same juvenile ha ha see appraisers only care about fees false analogy"

And what would that meaningful conversation be....
"We want higher fees"....
Damn, I've been saying that for 30 years....

 

[Joe Flacco]

Fees don't impact how I appraise....
Since some/many/all AF members may have their personal opinion of my appraisal quality that may either be a good or bad thing....
There should be no correlation between fees and quality....

"Either have a meaningful conversation about the issue or not.....or keep repeating the same juvenile ha ha see appraisers only care about fees false analogy"

And what would that meaningful conversation be....
"We want higher fees"....
Damn, I've been saying that for 30 years....

Obviously it does not matter if somebody pays you $100 or $1,000. You still get the same **** appraisal report with adjustment list adjustments. If you engage a unskilled appraiser then it does not matter how much you pay them you still get a **** report. A unskilled appraiser is not magically going to become skilled because you pay them more.

 

[J Grant]

Obviously it does not matter if somebody pays you $100 or $1,000. You still get the same **** appraisal report with adjustment list adjustments. If you engage a unskilled appraiser then it does not matter how much you pay them you still get a **** report. A unskilled appraiser is not magically going to become skilled because you pay them more.

That is true, however, why would someone willing to pay $1000 hire an unskilled appraiser using lists of adjustments? That rarely happens.

The point about low fees is a client has little choice of who to hire since experienced, competent appraisers can find clients/ or other form of appraisal work that pays better. When a client is wiling to pay a decent fee, they have a wider pool of appraisers to choose from. If a client still hires bad appraisers when paying good fees, that is a client problem, but would be a rare problem. A client willing to pay good fees would engage a good reviewer and chief appraiser to vet the panel.

It is argued that in the housing boom, higher fees still saw lousy work...that was due to mortgage brokers hiring number hitters and had nothing to do with fees.

There are likely some appraiser doing good work at low fees but one has to question how long they can last ...if the client hires mainly by low fee they are always searching for cheaper and that means a better appraiser who by nature of the work has to spend more time on report or refuses to go below basement pay will eventually be eliminated from selection

 

[J Grant]

Obviously it does not matter if somebody pays you $100 or $1,000. You still get the same **** appraisal report with adjustment list adjustments. If you engage a unskilled appraiser then it does not matter how much you pay them you still get a **** report. A unskilled appraiser is not magically going to become skilled because you pay them more.

Do you believe someone paying $1000 would still use an unskilled appraiser using lists of adjustments? Or would they move on and find a better appraiser?

Ditto for any good fee since $1000 is an outlier (as is $100 ) for regular work. Replace with $400 or $500...would a client paying that make different choices of who to hire or keep using, and have a different set of appraisers available to use, than a client who tries to get the work done for $250?

 

[djd09]

The FTC and the La Board believe fees are important. Unless the AMC sets the fees, then it is just supply and demand. comical

 

[Joe Flacco]

Do you believe someone paying $1000 would still use an unskilled appraiser using lists of adjustments? Or would they move on and find a better appraiser?

Ditto for any good fee since $1000 is an outlier (as is $100 ) for regular work. Replace with $400 or $500...would a client paying that make different choices of who to hire or keep using, and have a different set of appraisers available to use, than a client who tries to get the work done for $250?

Setting the base fee first and then choosing from whatever appraisers are available at that fee is not how you do it. How you do it is you put good / skilled appraisers on the panel first and the base fee is whatever fee is needed to maintain a panel with those good / skilled appraisers.

You find the good / skilled appraisers first. Not set the fee first.

 

[J Grant]

The FTC and the La Board believe fees are important. Unless the AMC sets the fees, then it is just supply and demand. comical

Only in AMC world are the cheaper appraisers engaged for their ability to throw back profit to the AMC rather than more experienced/competent appraisers, even when they have a moderate fee covered by what borrower pays. Which is why we see in a same regional area with the same supply of appraisers a different set of appraisers engaged by better paying clients at higher fees, for the same work. AMC's use supply and demand ( since their control over the work creates the "demand" ) to select and assign at lower fees since that is what drives their business model...allowing free of cost to lender service giving them the large market share advantage which enables them to control the demand/selection etc...a circular loop that operates in its own sphere apart from the rest of the appraisal market .

 

[bnmappraisal]

You find the good / skilled appraisers first. Not set the fee first.

Just thought worth repeating