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Why does the appraisal, and how much they're paid, matter

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Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina

Good article and he asks the right questions too.

Should you care that the appraiser might be pushed to come up with a number so fast -- almost overnight in some cases -- that he or she doesn't have the time to do a proper inspection and accurate evaluation of comparable properties, pending sales contracts and local market trends?

The Title Appraisal Vendor Management Assn., which represents third-party managers, denies that lower fees result in less-accurate home valuations. Jeff Schurman, the group's executive director, said, "There's no evidence of that," and if there were, major banks and mortgage lenders would not hire them.

George Dodd, an appraiser in Virginia, said the most experienced appraisers will be the "hardest hit" by the new code "because of our unwillingness to sacrifice integrity and quality" by doing business with management firms. Rather than work for peanuts, Dodd said, "I can flip burgers at McDs for more."
 

jnordquist

Member
Joined
Sep 10, 2007
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Jeff Schurman, TAVMA

The Title Appraisal Vendor Management Assn., which represents third-party managers, denies that lower fees result in less-accurate home valuations. Jeff Schurman, the group's executive director, said, "There's no evidence of that," and if there were, major banks and mortgage lenders would not hire them.


What he forgot to note is the article that he wrote saying they do, I think I will send it to the writer of the article
 

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Groveball

Sophomore Member
Joined
Dec 18, 2008
Professional Status
Certified Residential Appraiser
State
California
Stop the madness!
 

Jim Shoe

Sophomore Member
Joined
Apr 27, 2004
Professional Status
General Public
State
California
The Title Appraisal Vendor Management Assn., which represents third-party managers, denies that lower fees result in less-accurate home valuations. Jeff Schurman, the group's executive director, said, "There's no evidence of that," and if there were, major banks and mortgage lenders would not hire them.


What he forgot to note is the article that he wrote saying they do, I think I will send it to the writer of the article

Do you have the link to this article?
 

Groveball

Sophomore Member
Joined
Dec 18, 2008
Professional Status
Certified Residential Appraiser
State
California
jim,

link is at the top
 

Claude From NY

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
New York
Flip Flop

Then
...I argued that lowering appraisal fees can have an adverse affect appraisal quality over time. I boldly proclaimed that lowering vendor fees can actually result in higher vendor fees as low-cost but washed out, burned out, or just plain exhausted providers leave the business in search of something more profitable to do.
Jeff Schurman 11/2007

Now
The Title Appraisal Vendor Management Assn., which represents third-party managers, denies that lower fees result in less-accurate home valuations. Jeff Schurman, the group's executive director, said, "There's no evidence of that," and if there were, major banks and mortgage lenders would not hire them.


more recent ramblings:
http://www.tavma.org/index.php?option=com_content&task=view&id=161&Itemid=32
 
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