| Author |
Previous Topic | Next Topic |
|
1003s.com
3040 Posts |
 Posted - 02/20/2008 : 10:14:23 PM
|
I am in the process of making some changes to my web page, and
I am thinking of adding a link to my web page with a list of appraisers.
I would not hire an appraiser with less than 15 years experience myself,
so I am thinking of limiting the list to appraisers with over 15 years
of experience. I have never had a problem finding appaisers with 15 years
experience, so my selection of that number, was really based on my own
experience, rather than any hard facts that would indicate appraisers
with that much experience are any better.
I am not really sure how much better, an appraiser gets better after the
1st 5 years?
|
|
ritabradley01
2315 Posts |
Posted - 02/20/2008 : 10:17:10 PM
|
| It would be really crazy if borrowers only used LOs with 15 plus years experience. |
|
|
1003s.com
3040 Posts |
Posted - 02/20/2008 : 10:20:31 PM
|
quote:
Originally posted by ritabradley01
It would be really crazy if borrowers only used LOs with 15 plus years experience.
Rita,
A rookie can give quality service, however, they also can make errors,
or just not see problems before they occur in the way someone with many years of
experience may be able to. Many borrowers would save themselves a world of pain,
by giving more thought to the quality of people they were dealing with,
and less thought to rates and fees.
|
|
|
jvanpetten
2218 Posts |
Posted - 02/21/2008 : 05:53:03 AM
|
That was my first thought when reading his post, and I have 25 years experience.
quote:
Originally posted by ritabradley01
It would be really crazy if borrowers only used LOs with 15 plus years experience.
|
|
|
brandie
3173 Posts |
Posted - 02/21/2008 : 06:11:17 AM
|
Sorry Bob but I have to disagree with you. I know appraisers that have been in the biz for years(15+)and a good majority of the lenders have denied the appraisal, because of their practice of overinflating the value. Black listed.
I know appraiser who have been in the biz for under 15 years and get great results and their appraisals pass with flying colors.
Some bad habits are hard to break, and I refuse to have myself or my customer pay for an appraisers bad habit.
|
|
|
bigmax
139 Posts |
Posted - 02/21/2008 : 07:23:42 AM
|
quote:
Originally posted by 1003s.com
quote:
Originally posted by ritabradley01
It would be really crazy if borrowers only used LOs with 15 plus years experience.
Rita,
A rookie can give quality service, however, they also can make errors,
or just not see problems before they occur in the way someone with many years of
experience may be able to. Many borrowers would save themselves a world of pain,
by giving more thought to the quality of people they were dealing with,
and less thought to rates and fees.
Experience counts. As someone who has reviewed 100s of appraisal reports, it is the newbies(<10 years) who push numbers(and basically just screw up) 7 out of 10 times, not the other way around. |
|
|
RDwyer
3267 Posts |
Posted - 02/21/2008 : 07:36:11 AM
|
| Does quality come down to training, experience, and ethics? Yes. But how do you think those people got that experience? If everyone held that opinion, we'd run out of appraisers because no one would hire the newbies!! |
|
|
gdavenpo
346 Posts |
Posted - 02/21/2008 : 07:55:53 AM
|
quote:
Originally posted by 1003s.com
I am in the process of making some changes to my web page, and
I am thinking of adding a link to my web page with a list of appraisers.
Not a bad idea, just remember that the HO is not allowed to choice the appraiser.
quote:
I would not hire an appraiser with less than 15 years experience myself,
so I am thinking of limiting the list to appraisers with over 15 years
of experience.
To me this is a VERY BAD idea.
What does 15 years mean. It does not imply they are honest, are ethical. Take some time and file an FOI for one of the states you work in, ask for information on ALL appraiser fined by that state. Then look at how long they have been in business. You just might be surprised by what you read.
Of the 8 complaints our office has filed, the only one the resulted in a revocation of a license was of an appraiser with over 15 years experience. This was the first time in many years someone list their license. The other 7 only were fined and had to take CE.
Instead ask a few question like
1. have you ever been sanctioned by the state, FHA, or VA? Don't ask if they have had a complaint field, just ask if they have been sanctioned.
2. How many CE hours have you taken this year? Is it more than the minimal the state requires?
3. Have you ever had an E&O Claim?
quote:
I am not really sure how much better, an appraiser gets better after the 1st 5 years?
From the review I have seen, some appraiser get worst over time, not better.
You and your clients would be better served by asking questions, and finding the appraisers who can EARN, not buy, your respect.
|
|
|
1003s.com
3040 Posts |
Posted - 02/21/2008 : 07:59:43 AM
|
quote:
Originally posted by RDwyer
Does quality come down to training, experience, and ethics? Yes. But how do you think those people got that experience? If everyone held that opinion, we'd run out of appraisers because no one would hire the newbies!!
Robert
that is true however, I have always taken the position, it is better folks learn
on someone elses business, than on mine. I dealt with the same appraiser for over
13 years, he had over 20 years experience when I started dealng with him and
owned his own office building. He never made a serious error on any appraisal
order I sent him, so my standards worked well for me. |
|
|
bigmax
139 Posts |
Posted - 02/21/2008 : 08:07:44 AM
|
quote:
Originally posted by RDwyer
Does quality come down to training, experience, and ethics? Yes. But how do you think those people got that experience? If everyone held that opinion, we'd run out of appraisers because no one would hire the newbies!!
Very good point Robert and I wholeheartedly agree. Unfortunately the past several years has seen the development of skippy mills where trainees are being thrown out to the streets with little to no training. They have been raised by less than scrupulous supervisors who exploit their labor in an effort to line their own pockets. You are in wholesale, I know you have seen it. I did wholesale portfolio review and if I had a dime for every trainee report(signed by a cert who was supposedly there inspecting as well) that was a POS I'd be retired by now. Quality control went out the window years back replaced by fast and cheap. Fact. |
|
|
1003s.com
3040 Posts |
Posted - 02/21/2008 : 08:10:33 AM
|
quote:
Originally posted by gdavenpo
quote:
Originally posted by 1003s.com
Not a bad idea, just remember that the HO is not allowed to choice the appraiser.
I assume this was a typo and your intent was not to imply all LO's are HO's,
LOL |
|
|
ML
2215 Posts |
Posted - 02/21/2008 : 08:14:21 AM
|
| Go with an MAI, regardless of years of experience. You probably won't get the MAI doing Res, but s/he will supervise, and sign off, generally resulting in a satisfactory result. |
|
|
1003s.com
3040 Posts |
Posted - 02/21/2008 : 08:17:41 AM
|
quote:
Originally posted by bigmax
quote:
Originally posted by RDwyer
Does quality come down to training, experience, and ethics? Yes. But how do you think those people got that experience? If everyone held that opinion, we'd run out of appraisers because no one would hire the newbies!!
Very good point Robert and I wholeheartedly agree. Unfortunately the past several years has seen the development of skippy mills where trainees are being thrown out to the streets with little to no training. They have been raised by less than scrupulous supervisors who exploit their labor in an effort to line their own pockets. You are in wholesale, I know you have seen it. I did wholesale portfolio review and if I had a dime for every trainee report(signed by a cert who was supposedly there inspecting as well) that was a POS I'd be retired by now. Quality control went out the window years back replaced by fast and cheap. Fact.
The owners of the first appraisal companies I used, did this kind of thing,
I learned to make sure the appraiser, with boots on the ground,
had plenty experience and not just the fellow reviewing his work. |
|
|
1003s.com
3040 Posts |
Posted - 02/21/2008 : 10:42:31 AM
|
quote:
Originally posted by ML
Go with an MAI, regardless of years of experience. You probably won't get the MAI doing Res, but s/he will supervise, and sign off, generally resulting in a satisfactory result.
The appraiser I used for many years did not even do commercial property appraisals,
and I was very happy with his work. For my money, I would want someone
with vast experience doing RES appraisals, if that was what I was ordering.
|
|
|
gdavenpo
346 Posts |
Posted - 02/21/2008 : 11:46:44 AM
|
quote:
Originally posted by 1003s.com
quote:
Originally posted by gdavenpo
quote:
Originally posted by 1003s.com
Not a bad idea, just remember that the HO is not allowed to choice the appraiser.
I assume this was a typo and your intent was not to imply all LO's are HO's,
LOL
No, I was trying to say that the HOME OWNER is not allowed to pick the appraiser.
|
|
|
| |
Previous Topic | Next Topic |
|
|
|
Search for: 
