As a former appraiser with nearly 30 years of experience and now an executive working at an AMC, I have observed a true evolution in the way appraisers and AMCs work together. The relationship between AMCs and appraisers started off unsteadily but has improved over the years. It has now reached a point of mutual respect.
Being the Chief Residential Appraiser of Martin + Wood Appraisal Group with a staff of over 25 appraisers is a lot of hard and gratifying work. Last year, I was sworn in as Vice President of the Ohio Collation of Appraiser Professionals (OCAP)-- an intellectually rich group who has come together with a mission dependent upon the collaborative efforts of members to strengthen the appraiser voice.
Appraisers are wondering what all the fuss is over Third Party Oversight and what it means to them. Appraisers are just now beginning to feel the impact of the demands of fee panel management. I know this will date me but I do recall the days when it was a challenge to get placed on an approved appraiser list. The process was onerous. I likely didn't appreciate it much then but surely I reminisced about the good ole days after that process fell apart and the only vetting process involved inquiries as to my fees and turn times. Now we have come full circle.
Change is described as making something different, doing something differently, or some thing or some one undergoing a transformation. You can change your clothes, change your attitudes, change your mind, and even make change for a dollar. What I want to talk about is accepting and embracing change and seeing change as a good thing, not as a threat and something to be resisted.
When the average appraiser thinks about what has happened in the appraisal industry and what is on the horizon, it is so easy to limit our thinking to what has happened in our own backyards. But there are other nations who suffered their own financial crisis. Other countries have high foreclosure rates as well. Hopefully, we can learn from our own mistakes. But can we learn from the mistakes of others? Do other nations struggle with similar issues in the valuation space? How do other countries manage the appraisal process?
There is a lot of misunderstanding and anxiety about background checks. I think we could all agree with that statement, right?
Let me put your mind at ease about a few of the myths that are perpetuated in the blogosphere.
Myth #1: "I did something stupid when I was in college and I am a different person today. A background check is going to cause me to lose work."
This is sorta like dealing with the GSE's UAD stuff............
But it's not really complicated!
Q & C Ratings are ABSOLUTE and don't change from one assignment to the next. Once you 'rate' a property for Quality and Condition, keep that 'rating' in place when the property is used again in successive report(s) .... unless there has been documented and verifiable changes in the interim period.
Some appraisers avoid the AQM hassle by putting the 'new' adjustment on a blank line on the grid, rather than change the rating number in the space above the GLA line.
Last year we started a summer reading list for appraisers with recent books that appeal to appraisers about the industry or business in general. This year we have a brand new batch of books for appraisers to read.
The Allterra Group has always been known for their top notch on-site continuing education. Whether it is the lender sponsored appraiser events, seminars and webinars, or the national conference held every year at Valuation Expo. Now they are expanding their options and making continuing education available in the comfort of your own home or office! We sat down with their Director of Online Education, Ashley Hammond, to discuss Allterra Online and its offerings for appraisers.
Over the past several years, I have had the experience of meeting and conversing with literally thousands of appraisers from every state in the Union as well as from countries across the world. Though I have not kept track of the exact number, I would estimate that my conversations with appraisers is now approaching several thousand. Some meetings are superficial, but others are deep and meaningful. My experience has given me the unintentional consequence of having a somewhat unique perspective on the condition of today's real estate appraiser.