Board Member Says ‘Squeaky Wheel Gets the Grease’
Board Members reported a shortage of individual appraisers offering suggestions, complaints and concerns…
Legitimate ‘complaints’ should never be referred to as whining by any professional in my opinion. To do so diminishes the importance of the concerns being addressed.
I attended the Las Vegas Public Hearing of the The Appraisal Foundation (TAF) / Appraisal Practices Board (APB) last Friday. No Appraisers Guild or member funds were used in any way for this. There was lots of good information. Board Members reported that there really is a shortage of individual appraisers offering suggestions, complaints and concerns to them as a Board, or as individual members of the APB.
Without exception each Board Member tasked with a specific issue ‘lead’ reiterated that they WANT and will READ EVERY single email or letter offering opinions, advice or concerns. One point that BOTH the TAF/APB Board Members and the Appraisal Subcommittee Executive Director made, was to remind us that the squeaky wheel is still the one that gets the grease; meaning that the volume of complaints we have should be increased rather than diminished if we ever hope to remedy the issues of concern to us. Not only the concerns, but also our suggestions for resolutions! C&R continues to fall into this category.
Along these lines: Jim Park, Executive Director of the Appraisal Subcommittee, Federal Financial Institutions Examination Council, extended a personal invitation to appraisers. IF you do not know WHERE to file a complaint about an appraisal concern, AMC issue, Lender issue, etc. send it to him. He & ASC do not process or investigate them, but he promised he WILL see that you are given enough information to get it to the right people. He can be reached at j…@asc.gov, (202) 595-7575, 1401 H Street, NW, Suite 760, Washington DC 20005.
Similarly, EACH APB special committee member extended an invitation to contact them on ANY issue that you feel is a concern, or with a suggestion for new topics for the APB, OR solutions to currently identified problems or topics.
That includes solutions to perceived appraiser shortages:
- Reduce experience required;
- Reduce formal education required OR investigate work experience-to-education credit programs?
- While no one other than me suggested it, even eliminating the four year degree requirement completely;
- Finding a way to grandfather those licensed appraisers with 10 or 15 years experience looking to upgrade that do NOT HAVE 4 year degrees (THAT ONE WAS postulated by a Board Member!)
I don’t want to try to deal with the Green Agenda here. Just too lengthy, but a couple other areas that ARE going to be addressed and for which YOUR input IS needed are:
- Collection and verification of residential data used in 1-4 unit sales comparison;
- Collection and verification of data used in sales comparison for non residential properties.
Do you think APB NEEDs to address this? If so, how? WHAT are YOUR concerns? More info required? More leeway in reporting or verifying data? Unrealistic regulatory expectations in this area? Need to work more closely with other disciplines to improve data (NAR or State Realtor organizations?) Unrealistic client expectations? Recognize that data availability varies from region to region so if there is a particular problem with data in your area, what is it and how can it be improved?
Understand too that the TAF and it’s Boards are also aware that political influences play a part in what goes on in our regulatory system. IF you believe our elected leaders are failing you, vote them out!
If it is the volunteers, then the question is WHY and for WHAT specifically? VaCAP’s leaders just found out that their own state would not back them up in doing “the right thing” with Coester, so how or why would we hold the volunteer Board Members there accountable? The same could apply to LREAC. They WON their cases, but only got a wrist slap penalty imposed, thanks to giant loopholes in FIRREA, Dodd Frank and possibly their own state laws. Not to mention REVAA or a purported “independent” confirmation source that Flagstar’s C&R methods producing $200 to $250 results were realistic.
There are things we all need to do to save our profession. Things you CAN do?
- Join your state’s appraisal coalition & become more informed.
- Join an established National Appraisers Advocacy Group focused on solving our problems. I strongly suggest the American Guild of Appraisers, call (301) 220-4100 or email j…@appraisersguild.org to join. Let’s look for NATIONAL solutions that benefit ALL of us!
- Join the National Association of Realtors ® as appraisers. We need to built a bridge between ourselves and the nations largest issue advocacy group!
You are ASKING others to set the rules you earn your living by for you. So far the results of “other people’s” lobbies have not had OUR best interests in mind.
Were you even aware that one Board Member (Business Valuator) is home based in Mexico City? Do you care? Has TAF /ASB / APB lost sight of its/their original purpose for existing, or is this a logical outgrowth? Are the needs of one discipline in the field of “appraisal” or “valuation” now dictating the needs and standards of the real property appraisers to the detriment of OUR discipline?
IF you can answer the following question correctly you probably have no need for the AGA or state coalitions. If you cannot, then its time to rethink your position.
“How many seats on the Appraisal Practices Board of The Appraisal Foundation are currently held by foreign nationals who’s listed office address is located in their home nation?”
There is a giant freight train full of change about to run over all of us.