Could not be more incorrect, also Realtor ethics also matter-as does not violating them. It is against state and Federal Law. Appraisers should already be aware of these facts, but sadly, some will never learn.

The problem comes when you are dealing with someone who is unreasonable. I have done 2 appraisals for an investor who finds a house nearing the end of it’s effective life, puts rock on the front, and tries to refi out thinking he can get the same price as a new build near by. He has family who are realtors, and they all seem to have drank the koolaid and believe my value conclusion is “not right”.

There is no reasoning with them…

Tell the Realtor to show you a CMA in five minutes, of shut up.

Wow Lindsey, keep up the good fight. Is the appraisal value hotline applicable?
https://refermyappraisalcomplaint.asc.gov/

Sounds like the appraisal solution is MLS rules reform? I’m constantly shocked in reading what appraisers in other parts of the country have to go through.

Regardless of what law exists for appraisers or lenders, we should start pointing fingers towards the lack of oversight and regulations that realtors and AMCs are under. We should collaborate and gather a documented list of misleading information from realtors and AMC businesses. I’ve got a list that I’m presenting to a Fannie Mae senior collateral risk manager on Tuesday during my meeting with him. I hope he will be willing to start looking elsewhere other than hyper focusing on appraisers.

https://www.sec.gov/news/press-release/2022-85
Well Bryan there is that… I’m telling you table based fines are meaningless they don’t even touch corporations of such tremendous scale. Fines based on income would incentivize the legal community to get better and more intimately involved with oversight and watchdog activity. It would certainly take pressure off of appraisers. One does not have to reach far to wonder why big lenders want less oversight rather than more. Transitioning the appraisal industry into an automated system will certainly result in less individual oversight. Fleecing consumers individually is so tedious, fleecing them at scale is where the money is. Lets revisit their 3b settlement from a few years back.

https://www.cnn.com/2020/02/21/business/wells-fargo-settlement-doj-sec/index.html
“As part of the deal, Wells Fargo admitted that between 2002 and 2016, it falsified bank records, harmed the credit ratings of customers, unlawfully misused their personal information and wrongfully collected millions of dollars in fees and interest. ”
Pepsi challenge for someone at the Brookings Institute to run a racial demographic research paper on that one… It fits dead center what their stated causes are, if they are being honest about such activity focus.

Isn’t that what always happens with compulsory programs, once they get you in, it’s a money grab with inadequate representation. And that explains why NAR is able to boast 25k appraiser members nationally. My MLS which I think is the largest in this state, makes it easy and just gives us a $5 surcharge for not being a member of NAR and still lets us have equivalent access. So that’s obviously something the local MLS board of directors can effect and change the rules as they see fit. You could mount a movement to change the rules and regs to save a hundred a year yourself and begin the process of cutting NAR down in terms of income until they stopped capitulating and started helping appraisers more. Cumulatively, that would make a difference. 25k x $100 yearly dues = $2.5m yearly income. Public data indicates that’s 1% of their yearly income stream.

Shoot, if NAR is a non profit lets look at their tax returns too, why not. This is the year of reviewing tax forms and I never knew every single national group in the valuation industry was not for profit status.
https://paddockpost.com/2020/05/27/how-the-national-association-of-realtors-nar-spends-membership-dues/
https://apps.irs.gov/app/eos/detailsPage?ein=361520690&name=NATIONAL%20ASSOCIATION%20OF%20REALTORS&city=&state=&countryAbbr=US&dba=&type=EPOSTCARD,%20COPYOFRETURNS&orgTags=EPOSTCARD&orgTags=COPYOFRETURNS
Why are all these non profits in the appraisal industry apparently years late on their taxes? I’m sensing a pattern here. Or perhaps there is a publishing delay?
https://apps.irs.gov/pub/epostcard/cor/361520690_201812_990O_2020013117094267.pdf
Wow, it’s the biggest one yet, 177 page filing.
There is all the media groups they use on pg 8, we could start writing them letters. Then you’re into long lists of directors and tedious name research to discover industry associations. Those are very light work weeks, wow. I used Control+F to search andre perry, thankfully no returns… Who else? Pg 114, a $72.7m yearly lobbyist write off… And they stand by and let appraisers suffer this appraisers are racist false accusation slander? Newsflash to NAR, as appraisers get black eyes, this naturally extends to you guys too. The majority of people I meet presume I’m also a sales agent.
https://www.inman.com/2016/06/06/forest-trees-nar-expenses-edition/
Holy smokes! I may just transition my modest little soon to be extinct appraisal business to be a non profit. Look at the potential. I’ll offer free to consumer appraisal services consultation and get a government grant. Dang! Who knew non profit paid this well?!?!? Pg 129. Well, I think we’ve discovered why automating the appraisal industry and seeing us all gone, slow walking any and all efforts to help American appraisers may be beneficial to some people. American housing for everyone! Pg 154. Top dude gets $4m a year… Chief advocacy officer got $630k? Where is the appraisers advocate? In contrast to that 2014 article link, raises for everyone! Sure, as all the appraisers nationally go under and so many receive death threats or other unethical applications of force for our political views or daring to go against the amc industry and stand up for consumer protection principals. I’m not just going to buy any lawn mower, I’m going to buy the lawn mower of the century. Obviously, I’ll have to set up a not for profit lawn mowing company too.

https://www.nar.realtor/appraisal-valuation/benefits-for-appraiser-members
“The National Association of REALTORS®, an Affiliate Sponsor of The Appraisal Foundation(link is external), is designated as an “Appointing Affiliate Sponsor” and has the right to appoint a member to The Appraisal Foundation Board of Trustees. The National Association of REALTORS® has been an active participant in The Appraisal Foundation from its inception and participates in The Appraisal Foundation Advisory Council (TAFAC).”

Did we just find a way to get Mike Ford, Johnathan Miller, or Dave Towne onto the TAF board of trustees decision making panel? Then they could use that position to get NAR to officially recognize AGA as deserving a seat at all decision making tables related to the appraisal valuation services industry? Just brainstorming here…

We have to be a member of NAR to be a member of the local MLS and they do nothing for us.

There are several different segments of home owners. Those whom participate more routinely in mortgage lending, and those whom do not. I had a lady asking me for assistance with independent work for taxation value disputes. Although I normally pass on those requests I was talking to her about the nature of this as she had helped me before with other issues in her industry. She was competent and went through all the paperwork process and such, had successfully argued for a lower valuation basis before several times. This time around was different though, assessor said they’d need to make a personal visit to their home to have more current information. The house was purchased decades ago and they had not refinanced in decades either. Home owner was surprised to learn that all the improvement work and permitted records was a component of a higher valuation basis rating. We talked about improvements, how that results in her categorical placement within her respective market segment, etc. And when I was just reading off some of the likely recent sales that were good matches to her house, she was quite surprised to realize the assessor is not digging into them for rising taxes, she was likely already enjoying a substantially under valued position. So she then declined the assessors visit and rescinded the valuation dispute effort. It is what it is, and many people may not have realized the pace of the market over these past 5 or so years. They’re just living their lives and the home serves a more utilitarian purpose rather than an investment purpose. I explained the different value types and she was satisfied knowing they were getting superior value in use with a low tax basis, and her new strategy was simply finding ways to shoulder the increased tax burden.

Joyce, she’s a long time valuation industry advocate with a lot of wisdom. I used to always take the time to read her posts on other forums. I mean we all fought back within our means, from within the system. Think of how much worse it would have been, we are still here and kicking, at least for now. But this conversation string has me wondering, do realty agents insurers take a similar approach as appraisers EO insurers, like this one appraiser poster said the other day; your insurer can and will sell out your reputation to defend against a claim. What does realty agency insurance even cover? It’s got to be more dynamic than what appraisers deal with, and if there is a libel slander liability reputation sort of component there… Agent could have set themselves on that hook.

Remember this one in the early days of AIR? “I have not intimidated, coerced, or promised favors to myself.” Something like that. It spoke of the nature that appraisers can not be the ones to sign AIR agreements, as that was the lenders compliance responsibility. For a brief period lenders were business as usual and were forcing appraisers to include AIR compliance documentation within reports to even get paid.

So that led me to the concept of an appraiser joining NAR. That’s a real thing. Anyone here also a NAR member? Is that worth it?
https://www.nar.realtor/appraisal-valuation/benefits-for-appraiser-members
https://www.nar.realtor/designations-and-certifications/raa-and-gaa-designation
appraisal side legislative tracker. Interesting.
https://www.narfocus.com/billdatabase/index.php

I disagree on so many levels that I don’t even know where to begin, this attitude is exactly why we don’t get the respect and why we were the punching bag during the last downturn in the market. We should not succumb to the pressures of the realtors, lenders, homeowners or anyone else. We are the line in the sand that should not be crossed when it comes to doing our job. And if you are doing your job correctly, then you should be able to state your case and defend that value. I personally do not want to do appraisals for anyone that would blacklist or blackmail me for values. And trust me I have run across this on many occasions in the last 30 years. And with the run up in values that has happened in the past year or two, I have limited my assignments to a very small group of clients that understand that and I’m OK with not having my name on over(under) inflated homes values just because a realtor or homeowner thinks their value should be higher/lower. I recently got a couple of calls from homeowners upset because now the taxing districts are raising values and they reached out to me to see if I could fight these values. These are probably the same people that were enjoying the fact that they were on top of the world because their homes values have gone up so much, doubling in some cases from just a few years ago. Stick to your ethical values and you will be much happier.