An appraiser sent me the following email. It has become clear to me that the valuation industry that engages appraisers now places more value on the physical inspection than it does the actual valuation itself.
They can’t replicate the interior inspection so the valuation portion is where the fee shaving occurs and believe they can come up with the value themselves or find people that will work for wages that won’t attract people who are competent, but rather, people that are desperate.
[Bold for emphasis]
You are receiving this email because you have expressed interest in completing desktop products for Computershare. If you are not interested in completing these products and wish to no longer be contacted, please let me know and I will remove you from our list.
We have recently completed a recording of our AppraisalX (Desktop Hybrid Appraisal) and ARA (Appraisal Review) training session and made it available for everyone on our BrickFTP site. This training runs for approximately an hour and covers both products as well as general system navigation within our Acuity platform. This is a requirement to complete, along with a short test, in order to be eligible to receive these assignments.
On the BrickFTP site you will find our video labeled “AppraisalX _ ARA Training Recording 2018-09-18” which is in .mp4, .mov, .wmv, or .avi format. These are all the same video, just different formats that your computer or portable device might be able to read. Also included within the BrickFTP site are our training documents: (Three for each product) A completion guide, instructions and an example. This documentation should be downloaded and reviewed in conjunction with the video and testing.
Within the video there will be instructions on how to contact us to have the tests sent to you. These tests will be sent through SurveyMonkey, which is a third party site. You are required to get a 90% or better on each test to be eligible. If you fail the test the first time a wait period of a week is enforced before a new test will be sent to you. If you fail the test twice, you will not be eligible to complete that particular product. We do allow you to review the documentation while taking the test, so these are essentially open book tests to ensure you pass.
Each of these products pays $50. The typical turn time for the AppraisalX is 24 hours from assignment. The ARA has two different turn times based on the clients’ needs. One is 24 hours, and the other is 12 hours (or basically the next morning).
Below you’ll find the link to our BrickFTP site as well as the login information you will need to access the video and training documentation. When you login to the site, click the upper left icon that says “All Files”. This will take you to the videos and documentation. You do not need to download any additional software to view these files. The website does have an option, but we don’t recommend this.
If you have any additional questions regarding this, feel free to reach out to me directly.
Thank you again and we look forward to working with you!
Sr Valuation Analyst > Loan Services > Property Solutions
T +1 303 895 2858
8742 Lucent Boulevard, Highlands Ranch, CO 80129
Because firms like this and their clients believe they can reliably value property through automation despite clear evidence they can’t. Their clients don’t seem to care about valuation reliability because of the need to drive more lending as profits have waned as well as the moral hazard created by the federal backstop used in 2008. The taxpayers will bail these institutions out.
Our industry has a weak voice, largely from a combination of self-loathing, ineffective trade group leadership and the shear nature of the largess of the financial institutions that lobby against us. We are the last resort for the consumer and taxpayer, but ultimately regulatory authorities have yet to prove they care.
Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state and federal courts.
Latest posts by Jonathan Miller (see all)