Why Appraisers Say NO to Hybrids
Recently, a Mueller Services ‘inspector’ posted a comment on the article titled “Mueller Sample Report. You Decide!“. Could this be another reason why so many real estate appraisers refuse to do bifurcated hybrid appraisals? It goes without saying that bifurcated hybrid appraisals are uniformly performed by very low paid, with third grade level writing skills, untrained property ‘inspectors’ using a checklist – but with no appraisal training and skill.
Ah yes, Ive worked for Mueller services. It’s an easy job kind of, especially if you have no bills. I got between 350 and 700 dollars a week generally trending lower rather than higher including millage expences and I never worked over 30 hours in a week unless someone local quit and I cared. I’m basically rich and young, so it was somthing too do, and I like meeting homeowners since many are in my socioeconomic class. “Appraisals” are a rare and comperably difficult but like 55 to 80% more valuable task for a field rep. Like 80 or 100ish dollars per that type of case. We must take photos of ever side and photos facing away from every side and measurements. The app outlines the required photos and we must include a unique photo for everything the app demands. We must take two pictures of every room (sometimes I get away with just one but generally only if nothing has been renovated) and make a detailed (within a foot) sketch of the proporty outline of each floor. I do the sketch of the main floor first before going in then carefully extrapolate it too every floor with aproximate subtractions and overhand additions as needed. Then I place a label for each interior room on each floor close to where it actually is in my sketch. I think it’s pretty fun but I tend to capture all the photos and talk to the owner for an hour or less about all these generalities in each room. Like any renovation to the walls floors scelling lights etc and when as I’m writing in each room I make a list by the sketch of the room speciffic improvements. As detailed as the owner provides QA loves the detail for each room. The age of everything major: roof, siding, and structural renovations and outbuilding age photos interior also and simple details of landscape exterior features. Then I’m supposed to fill all that plus some additional info into an app (that I only use for photos) and submit in from the location to QA. But in reality I would rather not hang out on a proporty for another hour and waste my phone battery so I submit the mess of data by saving it and work on it on the web until I am satisfied with it then its off to QA and with this complicated of a case probably back too me 45% of the time for an extra detail or another photo that I will 90% of the time have the owner text me. After all that a real appraiser looks it over like a lame virtual tour and does what they do or calls me and asks me questions. It’s money, that I don’t need, but do want, and it’s manageable under my unique circumstances.
Below is Mike Ford’s reply:
Respectfully Tbhiitsch, $350 to $700 a week is not being ‘rich’ by most metrics… unless you mean you are independently wealthy. If so congratulations. If not, then you’ve set your sights much too low.
What you describe doing is precisely why many or most real appraisers refuse to do bifurcated hybrid appraisals. I’ve reviewed completed Mueller Report appraisals prepared by a conscientious appraiser. They are still indefensible before a state board.
It may seem like a minor issue to you, not being an appraiser who has ever had to worry about being USPAP compliant, or complying with a state’s measuring requirement where ANSI may be required but rounding to a foot can produce significant errors.
While not all states (or USPAP) require ANSI to be followed, they do require factual accuracy. The estimates you indicate don’t meet any recognized standards. Checklists or ‘app’ prompts are better than nothing but unless you are an appraiser yourself it’s doubtful you or the app knows what questions are variably relevant from one unique situation to another.
For example, a shared driveway. What else do you inquire about?
Anyway, thank you for providing first-hand evidence of yet another reason licensed or certified appraisers should avoid doing bifurcated hybrids.