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For the term "hybrid".
Liability Risks of Hybrids to Appraisers and Others 12

Liability Risks of Hybrid Appraisals

“Hybrid Appraisals” – Speaking about the Liability Risks to Appraisers and Others at The Appraisal Foundation’s Joint Council Meeting “Hybrid appraisal” liability? I am looking forward to speaking about the subject at a joint meeting of The Appraisal Foundation’s two advisory councils — The Appraisal Foundation Advisory Council (composed of 60 non-profits and government agencies) and the Industry Advisory Council (composed of 35 business entities with interests in valuation). “Hybrid appraisals” (which provide a desktop value opinion from a licensed/certified appraiser relying on a physical inspection of the property by a third party) are being marketed by AMCs and technology companies...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Hybrid AMCs & Appraisal Firms: Employees vs Independent Contractors 5

Hybrid AMCs & Appraisal Firms

The monetary risk, however, may be much bigger for hybrid AMCs… company’s vendor panelists should be classified as employees, rather than contractors, plaintiff’s counsel offered evidence that the company “tells vendors where to go, when to go, what to do, when to get it done and how much and when they will be paid for their efforts…” Appraisal Firms and Hybrid AMCs: Beware of the Dynamex Decision and Its Impact on Classifying Appraisers as Independent Contractors in California Classifying “staff appraisers” as independent contractors, rather than as employees, is a very common business practice among real estate appraisal firms. It...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / E&O

Hybrid Reports: ASB USPAP Q&A Justifies Alternative Appraisal Reports 15

Hybrid Reports ASB Q&A

What the cohorts promoting hybrid reports are overlooking is APPRAISAL PRACTICE… Appraisers, On Tuesday, Jan. 23, 2018, the Appraisal Standards Board released their latest Q&A document (see embedded PDF below). This document appears to justify reasons why appraisers can complete the new ‘hybrid’, ‘bifurcated’, ‘desktop’ and ‘alternative’ appraisal reports (regardless of what they are named), although the Q&A document is written ‘generically’ and does not specifically mention those categorical names. I have two issues with this Q&A document: it does not discuss the appraiser’s true responsibility when completing certain kinds of these reports; for more on that see the additional...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB / The Appraisal Standards Board

Professionals With No Appraisal Experience Cornering The Hybrid Market 6

New Hybrid Desktop Hucksters

What could lure these successful 'professionals' from their chosen careers? Fellow appraisers, I just received an advertisement for a company that wants to pay ‘me’ $50.00 an hour to do desktop appraisals. Actually, probably not me, because they prefer a degree. Now, my routine hourly rate for complex appraisal assignments is $150 ($500 for EW and something variable in between for pretty much everything else). So they are asking me to take a cut of 2/3… assuming I could meet their degree requirement “preference”. It got me thinking. I cannot always command my hourly rate for 8 hours a day,...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Senior Citizen Homeowner Rejects Hybrid Appraisal - AppraisersBlogs 27

Homeowner Rejects Hybrid Appraisal

Appraiser Alert: Don’t Mess with a 4’ 10” Senior Citizen! Last week I called a borrower to schedule the appraisal appointment. She asked me some very odd questions; “Are you a licensed appraiser? What is your license number? How can I verify this information?” Well I had never been asked any of these questions in my entire career, but I answered as there really wasn’t anything I was hiding. It was 19 degrees outside when I arrived at the property and this senior citizen, not more than 4 feet 10 inches tall, was sitting on the porch. I proceeded up the porch...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Alternative Valuation/Hybrid Appraisal Created by Independent Appraisers? 83

Hybrid Appraisal Created by Appraisers?

Hybrid Appraisal Created by Independent Appraisers? Hybrid appraisals/alternative valuations is the most polarizing topic in the profession these days. With AMC’s all rolling out their new alternative valuation products, wouldn’t it make sense for independent appraisers to come together and create OUR own hybrid/alternative product? This is our opportunity to compete directly with AMC’s and regain control of our profession. The blueprint for this hybrid/alternative valuation model is already in place. We just need to come together, create a better one, and market it to the same investors that are already using them. If independent appraisers got together and did...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Hybrid Reports - The Story About "Hybrid" Who Does What 11

The Story About “Hybrid” Who Does What

WHO actually fills in the subject info in ‘hybrid reports… Appraisers, This is a long message… grab a cold one and settle in! Last Wednesday, (yah, bad on me!), I sent out a message asking appraisers who have done, or are doing, the new ‘hybrid’, ‘alternative’, ‘bifurcated’ or “easy squeezie” desktop reports promoted by some AMC’s and others, what the actual process is concerning WHO actually fills in the subject info in ‘hybrid reports’. A number of appraisers took time to answer via email that afternoon. Among the responses, I actually CALLED and talked to 4 appraisers who are from different...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / The Appraisal Foundation

Subject Inspection for Hybrid Appraisals & USPAP Compliance 62

USPAP Compliance & Hybrid Appraisals

WHO does the SUBJECT INSPECTION? Appraisers, Some appraisers have questioned the name ‘Hybrid Appraisal’ because the requesting client WON’T USE THAT NAME for the product. When they call or email you, they’ll say something like “We have a really fast appraisal for you to do that you can do on your desktop without leaving your office.”, or “Can you do an exterior appraisal for us?” or they might identify it by the ‘name’ that client uses for the product. The FIRST question you need to ask is simple: WHO does the SUBJECT INSPECTION? If they say ‘someone else does that’…...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Automated Valuation Models

Hybrid Appraisals Survey Results 26

Hybrid Appraisals Survey Results

Appraisers, about 1.5 weeks ago, I asked Washington State appraisers to respond to a survey I designed, having to do with HYBRID appraisals. The tabulated results of that survey are displayed below in the embedded PDF, with ‘quick’ responses below. Of the surveys distributed to nearly 400 appraisers, the response was better than other types of market surveys, meaning the results are statistically acceptable… and could be transferred ‘by inference’ to the appraiser population across the US. A HYBRID appraisal is a ‘desktop assignment’ where the subject property inspection and photos is done by a non-appraiser, and that info/data is turned...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Clear Capital Push For Hybrid VA Appraisals 54

Clear Capital’s Push For Hybrid VA Appraisals

Clear Capital suggests that the VA consider the use of a desktop appraisal On April 4, 2017, the House Committee on Veterans Affairs held a hearing on “Assessing VA Approved Appraisers And How To Improve The Program For The 21st Century.” The hearing was designed to “assess VA’s current appraisal process, as well as specific difficulties for timely appraisals in highly rural areas”, as well as to investigate possible technological solutions to mitigate timeliness issues. Much of the hearing focused on two areas: The requirements for becoming a member of the VA appraiser panel, and the baseline requirements for comparable...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

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