Business Development - Appraisers Blogs

Crowdsourcing Appraiser Data

Guest Author — Mon, 23 Sep 2019 12:30:56 +0000

Just imagine the possibilities of having a hyper-local database… If you are not in the business of data you will be out of business. I’m not sure if I heard this somewhere or not, but this mantra has been in my head for a while now. Being in the data business is essential for every business today. We see it across all industries where the companies that embrace data are still in business, and the companies that didn’t make that pivot are out. In our profession we saw Fannie Mae get into the big data business with the creation of...

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Appraisers Ditch a la mode

AppraisersBlogs — Fri, 13 Apr 2018 12:30:32 +0000

In 2015, Dave Biggers of a la mode stated: I’ll wrap up by wishing you a happy new year, in spite of all the recent fear mongering, and by thanking you for supporting us with your business. I’m confident that in 2015 you’ll see even more reasons for that loyalty, especially in terms of us continuing in our long-standing role as the independent appraiser’s staunchest advocate, and in being the most innovative, reliable, and accessible technology provider. We look forward to working with — and for — all of you this year. Time and time again, we were assured that...

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Do Third-Party Inspectors Violate USPAP

Dustin Harris — Tue, 07 Nov 2017 13:30:30 +0000

It was recently brought to my attention, by a reputable appraiser I might add, that the use of third-party inspectors may be a violation of USPAP. Or more specifically, that an appraiser relying on a third-party inspector for information (without knowing their name), may be a violation of USPAP. For example, there are several (and growing) companies who are providing clients with what are being postulated as “hybrid appraisals” or “hybrid reports.” The definition, as far as I can discern, is that a third-party inspector ‘inspects’ the property (usually an exterior from the street – which is why there are...

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Do You Need an Appraiser Driver?

Dustin Harris — Tue, 17 Oct 2017 12:30:37 +0000

Using a Driver for Appraisal Inspections… Anyone who’s followed me for a while knows that I have three main aims. I want to help real estate appraisers make their business more efficient, more effective, and generate more money. People almost always assume that making more money relies only on cutting costs. This is completely inaccurate. If you become more efficient and more effective, and work smarter instead of working harder, then you’ll start boosting your income. In the past, one of the ways in which I’ve made my work more efficient, and in effect spent money to make more money,...

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Your Appraisal Business in 3 Years?

Dustin Harris — Wed, 03 Feb 2016 13:30:45 +0000

What Does Your Appraisal Business Look Like in Three Years? If I were to ask you to paint an accurate picture of what your appraisal business looks like three years from today, could you do it? If you can’t answer this question, perhaps you are getting hung up on the word “accurate”. Any individual can guess what the future might look like, but can you make that prediction with some sentiment of reality? In an exercise such as this, it is easy to get paralyzed by so many unknowns that are outside of our control. What will the markets do?...

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Valu+ Discounted for AppraisersBlogs Readers

Danny Stewart — Mon, 23 Nov 2015 13:30:04 +0000

NDC’s Appraiser Product is now Valu+ with exclusive 20% off for all Appraiser Blog Readers. Valu+ is a standalone valuation product under the NDC Brand. San Diego, CA: In the appraiser data market there has been one constant for many years, NDC. Until now NDC was both the name of the business and the research product supplying thousands of appraisers and real estate leaders with accurate public records data on over 130,000,000 parcels of land. NDC is evolving and growing rapidly and because of this growth we are excited to announce that the NDC research and valuation product will be known...

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Determining What to Charge for Appraisal Fees

Dustin Harris — Tue, 11 Aug 2015 12:30:57 +0000

Charge too little and you can’t cover your expenses Have you ever asked yourself why gasoline prices seem to fluctuate so dramatically? Maybe it’s the weather. Perhaps it is a conspiracy in the Middle East. Surely the politicians are to blame. To be sure, the correct answer is complicated and likely multi-faceted. There is much that goes into what your card is charged at the pump, but not much the common man probably understands. You can bet however that those who make these decisions do indeed know and understand how it all works. Have you ever wondered why a Big...

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Non-Lender vs. AMC Appraisal Work

Dustin Harris — Fri, 25 Apr 2014 12:30:27 +0000

One of the hottest topics right now in the appraisal world is that of non-lender work. I am probably asked a question concerning non-lender appraisals a couple of times per week, at least. “How do I do more work for attorneys?” “How do I go about marketing to home owners?” “I want to work with more real estate agents, but I am not sure how to garner their trust.” Okay, so that last one was not a question, but you get the point. Financial appraisal work through AMCs or local banks has slowed a great deal over the past few...

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Appraisal Advisor Ceases Operations

AppraisersBlogs — Thu, 23 Jan 2014 12:30:43 +0000

It’s with deep sadness that I’m informing you that Appraisal Advisor (www.AppraisalAdvisor.com) is ceasing operations on February 1st. We began with a simple goal of providing transparency to the industry regarding client quality, and tools for appraisers to collect from non-paying clients. The transparency benefited all parties: appraisers, good AMC clients, lenders, and regulators. Unfortunately, the lifeblood of Appraisal Advisor – appraisers submitting client reviews – fell prey to the age-old “80/20” rule. Over 79% of our many thousands of ASC-verified appraiser members submitted zero reviews, while only 3% submitted more than 5 reviews. That was far below what we...

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College Degree for Appraisers?

AppraisersBlogs — Mon, 20 Jan 2014 12:30:36 +0000

Why Do Appraisers Need a College Degree? Let me begin by stating that I hold both a Bachelor’s degree and a Master’s degree. I do not state that to get the adulations of the reader, but to qualify myself as one who can speak with at least a small degree of authority on this subject. Let me also be fair in stating that I loathed school. Do not misunderstand, I love and cherish education, I just hate school. I am a lifelong learner. I enjoy reading, researching, and experiencing new things. I love furthering my education. However, I am not one that fits very...

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Borrower’s Commonly Asked Questions and How an Appraiser Should Answer Them

AppraisersBlogs — Fri, 22 Nov 2013 12:30:58 +0000

One of the aspects I love most about appraising is that every day is different. I inspect an average of 3.25 houses per day. Since every house is different, every day is unique. Despite the variety we enjoy, I have also recognized that, though the setting varies each time, there is some repetition. Specifically, the questions we get from borrowers seem to be similar over and over again. One of the best lessons I have learned as a businessman is that, if there are any processes which are often repeated, developing a system for handling them will allow you to...

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Appraisal Advisor Now Completely Free for Appraisers

AppraisersBlogs — Thu, 21 Nov 2013 12:30:51 +0000

Appraisal Advisor is completely free for appraisers from here on out. They will not be charging appraisers anything to rate and review clients, and appraisers won’t be charged to view other appraisers’ reviews either. The OCC is now requiring that lenders “assess the third party’s reputation, including history of customer complaints or litigation,” and “assess the third party’s financial condition.” What does this mean for appraisers? It means that lenders are required to listen to what you’re saying about AMCs based on your scores, the invoices, reviews, and fees that you submit through www.AppraisalAdvisor.com. It’s up to you to submit...

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OCC bulletin regarding AMCs, lenders, and Appraisal Advisor

AppraisersBlogs — Fri, 15 Nov 2013 12:30:38 +0000

On October 30, the OCC issued a bulletin to all national banks and savings associations entitled “Third-Party Relationships: Risk Management Guidance.” The bulletin, in a nutshell, outlines how lenders should manage and ensure compliance of their third party vendors. AMCs, third parties in the OCC bulletin, must be managed by specific guidelines in order for lenders to maintain compliance. Appraisal Advisor offers compliance with that regulation by providing lenders, AMCs, and appraisers with its ratings and reviews system. Appraisers’ constant scoring of AMCs on Appraisal Advisor is now, more than ever, THE key deciding factor in which AMCs lenders use....

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“Hiring of Trainees to Remain Slow” Shocking News?

AppraisersBlogs — Sun, 25 Aug 2013 12:30:39 +0000

“Hiring of Trainees to Remain Slow” This is ‘Shocking News?’ According to a recent survey conducted by the Appraisal Institute, “trainee hiring will remain relatively weak for the next one- to two-years.” Um, I hate to disagree with the results of what I am sure is a credible survey, but this is just a gross underestimation. One-to two-years? How about FOREVER unless something drastically changes in our industry? Most know me as a fairly optimistic voice in the appraisal world. I am not usually one of those on the sidelines calling “foul” at every supposed indiscretion and ‘unfair’ practice that...

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Appraiser Confidentiality: USPAP Absurdity

Peter Christensen — Wed, 07 Aug 2013 12:30:37 +0000

Appraiser Confidentiality: Loose Lips, Big Claims, USPAP Absurdity, and Subpoenas Allegedly “Loose Lips” Cause a Big Claim. A recent and relatively big appraiser liability claim involved a commercial appraiser’s alleged breach of confidentiality. The damages paid to the plaintiff were significant. According to the plaintiff’s complaint (my recounting of the facts here is simplified), a lender had engaged the appraiser to perform an appraisal for a construction loan to the developer of a shopping center. Some of the information received by the appraiser included lease commitments from prospective tenants. The anchor tenant was a well-known retailer. The appraiser completed the assignment, but...

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Independent Contractors vs. Employees Pros and Cons

AppraisersBlogs — Fri, 19 Jul 2013 12:30:01 +0000

Business owners must determine whether to hire appraisers as employees of the company or as independent contractors. Because many appraisers are self-employed or run small businesses with few staff, recruiting and staffing employees can present a unique set of challenges. Business owners must determine whether to hire appraisers as employees of the company or as independent contractors. According to a recent article in Valuation magazine, businesses are increasingly taking the independent contractor option whenever possible due to the significant savings and flexibility for the employer. However, there are pros and cons to both angles. Benefits for appraisal firm owners and...

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Oil Change Stickers and Appraisal Marketing

AppraisersBlogs — Mon, 17 Jun 2013 13:00:12 +0000

Keeping a current appraisal customer (AMC, local bank, lawyer, real estate agent, etc.) should be a higher priority to you than digging up new ones. What are you doing to keep your current customers? Are you reaching out and ‘touching’ them often?

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Business Decision to Hire a Trainee

AppraisersBlogs — Mon, 10 Jun 2013 12:30:27 +0000

3 Ways Hiring a Trainee Can Help Your Business It would likely come as no surprise to most appraisers at this point that with the changing demographics and aging of the valuation profession, attracting the next generation remains crucial to the future. With the many opportunities for employment and continued growth, the benefits for those considering pursuing an appraisal career are clear. The advantages to an experienced real estate appraiser of hiring a trainee may be less apparent, but they are no less significant. While there is undoubtedly significant work and time commitment upfront, hiring a trainee can reap long-term...

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Appraisal Advisor, a Real Estate Appraisal Technology Company, Launches Nationwide

AppraisersBlogs — Wed, 24 Apr 2013 12:30:55 +0000

Real estate appraisers find, rate, and manage clients using Appraisal Advisor’s new platform. Atlanta, GA – Tuesday, April 16 – Appraisal Advisor, LLC announced today the launch of an exciting new service focusing on helping real estate appraisers better evaluate and manage the clients, appraisal management companies (AMCs), and lenders that they do business with. Appraisal Advisor provides appraisers with instant access to client ratings and reviews, written by other appraisers, and gives appraisers an avenue to have complaints and non-payment issues be heard. Already boasting an unprecedented database of hundreds of thousands of individually-verified clients and thousands of reviews...

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Forecasting Your Appraisal Business

Ramir Rodriguez — Fri, 29 Mar 2013 12:30:29 +0000

Improving your financial management through cash flow forecasting Memorize this statement: “Cash flow is the lifeblood of all businesses. Without cash flow your business will die.” I stress this statement often when I talk to appraisers during conferences, meetings, and webinars. Why? Because you are a small business owner first… and an appraiser second! Appraisers do a remarkable job and take great pride in their appraisal work. I recommend that you also take this attitude and approach towards your appraisal business, particularly your cash flow. What Is Cash Flow Forecasting? Cash flow forecasting is defined as planning what cash will come into the business in...

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