Clients & Vendors
Modern day prognosticators tend to eventually be revealed as charlatans; yet instant access to the blogosphere has given many junior achievers the opportunity to hone their erstwhile craft. The old cliché "don't let facts get in the way of a great story" used to render a chuckle. Times sure have changed.
According to a recent survey conducted by the Appraisal Institute, "trainee hiring will remain relatively weak for the next one- to two-years." Um, I hate to disagree with the results of what I am sure is a credible survey, but this is just a gross underestimation. One-to two-years? How about FOREVER unless something drastically changes in our industry?
Appraisers are really good at finding comps, measuring and drawing houses, evaluating a property's highest and best use, analyzing the market, extracting and applying adjustments, driving to comps, and communicating final results. We have a big skill set! But what are we not always good at? Actively managing our businesses.
Recently the Appraisal Buzz had the chance to sit down and speak with Joe Kuzner, Chief Residential Appraiser at Flagstar Bank. We spoke about his career, Flagstar Bank, and their new cost plus model they are introducing.
BUZZ: Joe, can you tell our readers a little bit about your history in the industry?
At the beginning of the month the Appraisal Buzz ran an article by Joan Trice "Vendor Management: A Safer Call". In the article Joan uses a baseball analogy to discuss the appraisal from the vendor point of view. One of our subscribers Matt Biggers sent us in a Juxtaposition article which uses that baseball analogy from the appraiser point of view. We thought it would be a good idea to share his article with our readers.
There may be nothing more important on a baseball team that the pitcher. Of course the team is made up of many other players, but the pitcher is the one that controls the tempo, the pace and style of the game. The entire strategy of a game can pivot on who the pitcher is and what his preferences are. Does he throw fastballs, curve balls or is he a knuckleballer?
What are your average fees like? Do they fluctuate based on different times and points in your career? 2012 was a VERY different year from 2011, and 2013 looks like a better year still. Timing is different in different parts of the country; yet residential appraisers are clearly seeing much more work now than 2 years ago. After 4 or 5 years of "slim pickings", this is a welcome change.
Blacklisting is one of the most controversial fee panel management practices. Far be it for Appraisal Buzz to avoid controversy!
We have the privilege of having Anthony Romano, a Consumer Finance Protection Bureau (CFPB) enforcement attorney, join us this Wednesday for a webinar on the topic. Let us not forget that the Home Valuation Code of Conduct (HVCC) came about in part as a result of gross violations of appraisal independence tenets.
Should You Choose "Mr. Right" or Will "Mr. Right Now" Suffice?
If I were a betting man, I'd be willing to bet a substantial amount that the assignment decision is the single most important aspect of the appraisal process. Unfortunately, this is often the most overlooked piece of the appraisal puzzle.