One of the biggest complaints we hear from appraisers is about revision requests. We thought it would be a good idea to host a webinar for appraisers so they can better understand the reasoning behind such request and what can be done to avoid them. We've assembled an appraiser, an AMC representative, and a Lender representative to give us their point of view on this process. Our appraiser is Alan Hummel, SRA of Forsythe Appraisals. Our AMC representative is Kevin Lahr with Digital Risk. And finally, Beth Hoffman of Progress Bank is our Lender representative. They are going to provide a candid explanation from their unique perspectives. These industry experts will fill appraisers in on what they need to know to avoid common revision requests to increase efficiency. We were able to speak with two of our presenters to preview the upcoming webinar.
Buzz: Thank you for taking the time to speak with us about your live webinar on revision requests. Can you tell our readers a little bit about your history in the industry?
Beth: I have been in the appraisal field for 28 years serving in a wide range of positions within the industry. The variety of positions I have held, led to my current career as Chief Appraiser. The best job to prepare me for fielding questions has been in teaching an introductory Appraisal Class at a local college.
Alan: I've had the opportunity to provide appraisal services to a wide variety of clients over the last 30+ years. As Forsythe Appraisals' Chief Appraiser and as an AQB Certified USPAP Instructor, I field a lot of questions (and learn a lot from interaction with) appraisers, clients and regulators on recognized appraisal methodologies and practices.
Buzz: Why is the topic of this Revision Requests so important to appraisers?
Beth: The better we can prepare appraisers prior to an engagement will in turn require less revision requests. Revision requests cost appraiser's. With an increase in knowledge and skill, this will save them both time and money.
Alan: Simple – Appraisers don't have the luxury of time or money to touch an assignment more than once. They need to know what is causing the revision requests and how to mitigate their occurrance.
Buzz: What types of things will appraisers learn from you during this webinar that will assist them with their appraisal work?
Beth: Primarily, the background on the requests. Where does this request come from? Why are the appraisers being asked for an item that seems to already be contained in the report? What can the appraiser do to avoid a revision request in the future?
Alan: Appraisers need to know more than what common revision requests are – they need to know why it's important for the client have the particular information (or formatting, or exhibit…). With Beth and Kevin presenting during this seminar, attendees will gain a better understanding of the "why is this important" as well as the "how to best answer them".
Buzz: What do you feel will be the benefit to appraisers who choose to sign up for this webinar?
Beth: The goal is to better prepare appraiser with a more strongly supported report causing fewer revision requests.
Alan: Hopefully, appraisers will walk away with better ideas, strategies and verbiage to answer revision requests, but the big win will be walking away with the understanding of how to prevent revision requests from occurring in the first place.
Buzz: Thank you both for taking the time to speak with us and we can't wait to watch the live webinar, Wednesday, September 24th at 2PM EST.
Those who would like to register for this webinar can do so here.
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