Category: Snippets

Snippets of recommended and/or thought-provoking articles, columns, podcasts, etc. broadcasted by Real Estate Appraisers from around the web

AMC management fees exceeding the appraiser’s fee more frequently

AMC Fees Exceeding Appraiser’s Fee

AMC management fees exceeding the appraiser’s fee more frequently Over the past year, the AMC industry growth model – taken from the backs of residential appraisers – has been broken by a growing number of residential appraisers that won’t accept fees below the custom & reasonable rate. So in order for AMCs to grow revenue, appraisers are seeing their fees surpassed by the AMCs themselves. In other words, hiring the valuation expert – the whole point of getting an appraisal to begin with – to make less than the company that manages them. We hear the GSEs and lending industry...

Coester - We Pay the Least & Get the Least Qualified Appraisers

We Pay the Least & Get the Least Qualified Appraisers

In 2013, Brian Coester of the Coester VMS AMC tweets “we pay the least and get the least qualified appraisers.” The graphic below was sent to me so I looked for it on twitter and the conversation is still there. A long dormant appraiser twitter account @insidevalues engaged in a conversation with AMC founder Brian Coester back in 2013. Brian responded 4 days after the question and then explained the “elite gold club” set up where appraisers would get more volume at a lower price point. I kept trying to apply sarcasm to Brian’s (he has blocked me even though I don’t recall ever engaging...

No Appraiser Shortgage

Appraiserville – There Is No Appraisal Shortage

Appraiserville – A webinar and charts to end any doubt – there is no appraisal shortage. Several months ago, Housingwire hosted a controversial webinar that seemed to represent all that was wrong with the perception of appraisers and the patently false “appraiser shortage” narrative that was being pushed out by REVAA and AMCs across all mortgage related publications. Even the Appraisal Institute – long known for the reputation of being dismissive of its residential membership – talks about the shortage after forming their fact finding committee to address how to better represent residential appraisers in the organizations. Read more »

VOA Podcast

Are Credit Unions Seeing the Benefits of Trainees?

Phil Crawford welcomes Ron Stickelman from CU Appraisal Services. Ron has been working with credit unions to show the benefits of appraisers taking on trainees! Can we get faster turn times and better quality using trainees? We know many appraisers that would like to start to build firms again, but are major AMCs fighting against this? Do they want to be the firms of tomorrow? It’s always fun when “Uncle Ron” stops by! Source: Are Credit Unions Seeing the Benefits of Trainees?

Public Relations Firms

Appraiserville – We Need Public Relations Firm

The real estate appraiser industry needs a public relations firm. We have no advocates or if we do, they aren’t getting the job done. There was a very one-sided Bloomberg Businessweek article that predicted the real estate industry would be gone in 5 years. I like the author and have followed his writings since he was at WSJ. But like the Housingwire piece discussed here a few weeks ago, the story is being told in a one-sided way and the author needs an to understand the nuance. Interview a slew of companies that have everything to gain from removing appraisers...

AMCs: The Bad and… the Good

AMCs: The Bad and… the Good

Dustin Harris, the Appraiser Coach, discusses the Bad and the Good of AMCs in this video podcast: We hear a lot of complaining about AMCs. Frankly, much of it is probably justified. Let’s explore some of those complaints. But, are there some good things about AMCs as well? The Bad: No real relationship Low fees Scope creep Speed demands – turn times Unknowledgeable customer service Revision requests already addressed in the report Uploading / portals Fee disclosure

Zillow vs appraisal ethics

Zillow vs Appraisal Ethics Rules

Although Zillow claims that the Zestimate is not an appraisal it appears that the majority of the public considers them as such. In my conversations with local real estate agents I hear countless stories about how home sellers believe in the Zestimate, and because of this, they pressure the agent to list the home for the value given, especially if it is higher than what the agent believes they can sell it for. Zestimate vs. Appraisal Because so many people do see the Zestimate as an appraisal I thought I would take a look at how the two compare when...

Corelogic Takes The Zillow Approach

Corelogic Takes The Zillow Approach

Appraiserville – FTC and Corelogic characterize the appraisal industry not as it actually is. Apparently, we learned that big data can tell you what the best color of paint is for maximum value of your bathroom – even if you believe that, it cannot tell you that the house was occupied by 200 cats. I was taken aback by the self-serving press release from Corelogic that basically said appraisals are questionable and automated valuations are better. That makes sense coming from a data firm with their own AVMs. The article lists a series of data that question the credibility of comp selection...

VOA podcast FTC

Antitrust Has Come to the Appraisal Profession!

The Antitrust moment that we have been worried about has finally come to the Appraisal Profession. Phil Crawford breaks down the news and information from the FTC investigation and complaint filed against the Louisiana Real Estate Appraisers Board. Everything will change now… We do not believe the FTC investigation in Louisiana will be an “isolated incident.” This complaint will have a profound effect on all appraiser coalitions, organizations, conferences and state boards. Let’s make sure we are all prepared!!!

Alternatives to Evaluations: Using Restricted Appraisal Reports in Your Practice

Alternatives to Evaluations

Learn how to use Restricted Appraisal Reports as an alternative to evaluations. Restricted Appraisal Reports: Are a USPAP-compliant alternative to evaluations Permit state licensed and certified appraisers to comply with state laws  Allow clients to receive abbreviated reports Maggie Hambleton, Chair of the ASB and John Brenan, Director of Appraisal Issues, discuss the use of Restricted Appraisal Reports (Residential and Non-Residential). Click here to download the PDF presentation.

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