I was reading the Working RE survey results and have a few thoughts outside of the survey questions. The story states that many appraisers have gotten out of the profession due to lack of business. I'm curious why they have a lack of business.
I'm currently a Certified Residential Appraiser. I've been doing appraisal work for…
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State Watch: Regulating AMCs By Mike Antoniak When the Home Valuation Code of Conduct (HVCC) became law May 1, 2009 it had unintended but far-reaching consequences for professional appraisers. “The HVCC, and its perceived need for financial institutions to separate the origination and the appraisal ordering function to preserve appraiser independence, resulted in an explosion...…
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Trying to catch the ear of your state legislators? Consider joining a coalition of like-minded appraisers if your state has one; if none exists, start talking up the idea and get things rolling to launch a statewide coalition.
“There’s strength in numbers,” observes residential appraiser Michael Brunson, president of the Coalition of Appraisers in Nevada (CAN)…
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As implementation of Dodd-Frank takes effect, the Federal Reserve Board shed light regarding the implementation of the customary and reasonable fee provision of the legislation.
The Federal Reserve Board, tasked with implementing the landmark Dodd-Frank Financial Reform legislation passed last year, laid out its guidance in the “Interim Final Rule” (IFR) published in October 2010 (find…
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Readers Respond AMCs/Customary and Reasonable Fees WRE has received many hundreds if not thousands of comments from appraisers posted to its surveys and blogs, with many also emailing us directly discussing AMCs, customary and reasonable fees and the state of the industry. These are representative of many. – Editor This AMC is complaining about a…
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Appraiser Reality: Absurd, Isn’t it? Driving to work early this morning I passed a scene familiar to most of us: a small group of laborers pouring cement for a neighbor’s new driveway. As I noted the contractor driving up in his new F-150 truck, I wondered if the powers that be in Washington D.C. or…
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Professional Marketplace Insurance, Education, Information Appraisers E&O: $455 (minimum premium certain sates) Appraisers enjoy same-day E&O insurance coverage (most cases) with an A++ carrier and other benefits through OREP. Instant financing is available. Individual Appraiser E&O Rates Per Claim/Annual Aggregate Most States $1,000,000 / $2,000,000 $650.00 $500,000 / $1,000,000 $573.00 $300,000 / $600,000 $501.00 Please…
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Industry News GAO Report on Appraising Released The long-awaited report on appraising by the Government Accountability Office was released to the public in July, in accordance with Dodd-Frank. Many of the issues familiar to appraisers are acknowledged in the report but many appraisers are asking: now what? You can find the report here. UMDP/UAD: Road…
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Editor’s Note: This following marketing advice works, according to appraisers and home inspectors.
Appraisers
Good advice is to go after clients who really need your services and who are truly depending on your work product. Create a professional image and work product: website, business cards. Pay attention to how you present yourself- create and polish a 30-second…
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Editor’s Note: Though a water heater is relatively inexpensive compared to the price of a house, repairs for the damage caused when one suddenly has a catastrophic failure is likely to be expensive. This is the reason many inspectors want to be able to give their clients some idea of how old the device is…
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