Licensed Residential Appraiser Response to Appraiser Shortage

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Licensed Residential Appraiser Response to Appraiser Shortage

Licensed Residential Appraiser out of work!

I find it hard to believe that there is a shortage of appraisers when I, a Licensed Residential Appraiser, have only completed three (3) appraisal assignments for 2016.

I am constantly denied approval by Banks and AMCs. I’ve been denied because I am Licensed. I’ve been denied because I am not Certified. I am not being denied work because I am incompetent or because I have not been USPAP compliant. Certainly not because I have been disciplined. FHA removed Licensed Residential Appraisers. Then Banks and AMCs were eager to follow. I do not see a future for Licensed Residential Appraisers unless something changes quickly. There are currently more than 8,000 active Licensed Residential Appraisers in the US. 8,000 Licensed Appraisers who cannot get mortgage work.

And yet I am told that there is a shortage of appraisers! Who is spreading these lies?

I have been appraising for over 10 years. I’m in good standing with my State. And yet Certified Appraisers with less experience are being hired while I am being denied work.

We need help. Help Licensed Residential Appraisers keep their jobs and suggest to Banks and AMCs to use competent Licensed Appraisers no matter what license they hold.

Please do not follow suit and force Licensed Residential Appraisers out of a job. Licensed Appraisers are one of the last entrepreneurs. They are mom and pop shops in which the American dream was founded on. We cannot let big business shove the little man into being an employee instead of an employer!

As a Licensed Residential Appraiser, my license allows me to appraise residential properties under one million dollars. I possess a skill set that 99% of the population can’t do. I am the last of a dying breed. I am not an AVM. I am 100% old school appraiser and proud to be a Licensed Residential Appraiser!

Below is a rejection email by CoesterVMS canceling an appraisal order based on the simple fact that I am a Licensed Residential Appraiser.

From: Sheri Olsen [solsen@coesterappraisals.com]
To: Appraiser
Subject: A New Order Has been Assigned to You

Nationwide Appraisal Management – Appraisal Compliance – BPOs – AVMs
http://www.coestervms.com Call: (888) 485-1999

Client Info: Union Mortgage Group, Inc.
Borrower: John Doe
Property Info: 120 Any Street, City of your Choice, USA 09876
Product: 1004 URAR with 1004MC,
Date Due: 5 Days
Status: Assigned
Fee: $325.00
Accept | Decline

You must accept this order within 2 hours or it will be re-assigned to another appraiser on our panel. This order was sent only to you and is not a broadcast. The fee on this order is the fee set in your profile at CoesterVMS, no one at CoesterVMS has the authority to change and or update the fee that you charge for work in your area except for you. If you would like to charge less or charge more you must update your profile so the next order will have the correct fee.


From: Sheri Olsen [solsen@coesterappraisals.com]
To: Appraiser
Subject: John Doe (12345) has been cancelled

Nationwide Appraisal Management – Appraisal Compliance – BPOs – AVMs
http://www.coestervms.com Call:(888) 485-1999

Hello Appraiser,

We are e-mailing you to let you know the John Doe, file 12345 has been cancelled, the property address is 120 Any Street, City of your Choice, USA 09876. Please stop all work on this file.

Thank you
Sheri Olsen


From: Frederick Schaper [fschaper@coestervms.com]
To: Appraiser
Subject: Update to Vendor Approval Status (Licensed Appraiser)

Appraiser,

Please be advised of the following:

CoesterVMS does require all appraisers registered in our network who complete reports to be Certified. Upon review of your license status we have determined that you are currently Licensed and therefore ineligible to receive orders.

Please feel free to contact us once you receive your certification and we will be happy to re-review your status for inclusion in the rotation to receive orders.

Thank You,
Fritz Schaper
Vendor Relations Manager
Coester Valuation Management Services
E-mail: fschaper@coestervms.com
The Way Valuations Should Be!
If you have enjoyed your experience with CoesterVMS, become a Raving Fan! Send an e-mail to ravingfans@coestervms.com describing your experience.

“Sunny Elizabeth Johnson” has been appraising Real Estate for over 10 years and cannot do mortgage work because she is a Licensed Residential Appraiser

Author requested the use of a pseudonym to avoid potential retribution. The author’s real name is known to only the AppraisersBlogs Team.

Image credit flickr - Quinn Dombrowski
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11 Responses

  1. David Laufman says:

    But, to eliminate the amc and lender defined “shortage” of appraisers they want to give a college graduate with no appraisal experience status as a Certified Appraiser, but will not allow experienced appraisers with years of hands on experience to complete a report.

    Nonsense, just nonsense.

    Follow the MONEY!!!!

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  2. Eric says:

    I am certified in my state. Been appraising 30 years and have a question for the author. If you have been appraising for 10 years, you saw the train coming after after the fallout of 2008 right? You have had 8 years to become certified and could have of got it without half the requirements now. You must have known this day would come. If you want the workload a certified appraiser receives, get the 4-year degree, obtain the appraisal courses needed, and pass the state exam. This is what all of the certified had to obtain. Why would certified appraisers have to meet these high demands if the nation is just going to hand you half the work we struggled/studied to get.. No tears here…

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  3. Please give me a call and I will help you find some work.

    443-859-8415

    Kevin

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    • Retired Appraiser Retired Appraiser says:

      Be careful Sunny Elizabeth the AMCs and Sweat Shops are beginning to swarm.  Desperation draws these bat’s out into the sunlight every time.

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  4. Baggins 1-5 Baggins 1-5 says:

    I wrote fritz a correction letter before.  If you take it to the top, Coester himself will brush you off.  If you’re on the Coester approved list, and you have not demanded they send you direct assignment at 400 or better, you’re part of the problem, not the solution.  This is not deminimums for lending, you’re taking C&R minimum compensation.  Coester attracts the new appraisers, like a vulture.  Free lunch, every time a new appraiser buys the lies.  “Dump Coester”.

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  5. Baggins, it could happen. Baggins, it could happen. says:

    Broadcasts may have gone out for less but you can always accept and request a higher fee.

    The exact quote from their order assigner person.  She told me she misses the ‘good old days’ when they could treat appraisers fairly.  Oh, thanks Sheri, what a champ.  There is also another good old days saying;  If the job is unethical, you should quit.  These Coester people have no ethics, which is why they’re o.k. with behaving this way.

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  6. Koma says:

    Sunny,

    I don’t know what part of the country your in, but it is just the opposite at my location. Some of my client’s are sending over reports stating CR or higher and I decline and tell them I’m licensed. They’ll come back a day later and say licensed is just fine because they can’t find a CR available.

    Do not want to tell you how to run your business, but I think you need to go out and find more (as many as you can) client’s. I have a good amount of work where I’ve been able been to turn down work. I have over the past 6 months raised my fee’s twice (wasn’t low balling beforehand) and they have not even blinked an eye. That is part of the benefit of having multiple clients. Four are my best and eight others send over work here and there.

    The cost of a college degree is of no benefit to me and in my opinion not necessary for non-complex residential appraisals.

    Good luck finding new clients!

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  7. Mike Ford Mike Ford says:

    Lic. Res. Appraiser, I ASSUME this was before Virginia passed the $450 presumptive minimum C&R fee.

    I appreciate there are two issues here. One of which is being worked on by national ‘appraisal factories’ that hope to capitalize on the plight of licensed appraisers and trainees (not to infer the former is similar to the latter) by getting AMCs and lenders that use them to accept trainees (presumably at MUCH lower than C&R rates).

    The other issue which is more hopeful is the possibility that AQB MAY provide an opportunity for experienced non certified appraisers like yourself, to upgrade your license WITHOUT the four year degree currently required. It is NOT a lowering of entry standards, but rather recognition of the value of your experience. Those of us at the American Guild of Appraisers, OPEIU/AFL-CIO have worked on this with many other individuals, and organizations and have presented testimony to TAF and it’s Boards concerning how this one fact alone is driving many appraisers away.

    An appraisal license IS something to be proud of; or at least it used to be. Those of us that like you, have been around awhile know they weren’t handing those out for the asking. One of the BEST residential appraisers I know is licensed rather than certified. Its the result of skill, knowledge, integrity and a great work ethic.

    IF it is any consolation, your post will be read by numerous Virginia Coalition of Appraisal Professionals; and possibly by state regulators, that are already aware how COESTER pays LESS than C&R fees, and then tries to rationalize that. You’ve just shown how it is done. Thank you.

    Also the turn time! Not overlooked is that they didn’t bother to check your qualifications to see if you were qualified for the assignment they gave to you BEFORE they gave it to you. Reasonable folks would conclude then that the assignment was based on the LOW FEE rather than specific qualifications and property complexity.

    Hopefully the folks at VREAB will read this, but there is not much they can do since you provided no order number or other identifiers that they cold track.

    If you still have the specific records on this one and are a member of VaCap contact Pat Turner; or if a member (or want to be a member) of AGA then contact me. (714) 366 9404, Mike Ford or mike@mfford.com; or janbellas@appraisersguild.org (301) 220-4100. This IS the kind of thing we’d love to investigate further if you are so inclined.

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