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Appraisers are coining a new term for certain appraisal management company (AMC) staff - “Checkbox Chimps.” These are the personnel who are “reviewing” appraisals, and no matter how solid they may be, are instructing appraisers to change their reports.
Are they really providing an “appraisal review” or are they just checking boxes on a form?
Are…
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Professional Marketplace Insurance, Education, Information 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 Note: Rates vary by state. Commercial rates are slightly higher. Please call or visit www.orep.org for more (888-347-5273). A standard deductible of $500 per claim/$1,000 aggregate is included…
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Industry News When Do Comps Requests Cross the Line? The following Q&A comes from attendees to the webinar The Top 5 Questions Asked of an Appraiser and How to answer presented by Richard Hagar, SRA. (For more, visit WorkingRE.com, Webinars.) Question: Hi Richard. I took part in your webinar last week on the Top 5…
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Texas Fee Survey Unpacked by David Brauner, Editor The most recent appraisal industry survey reveals interesting results, mainly because both appraisers and appraisal management companies (AMCs) participated. The Texas Appraisers and Appraisal Management Company Survey, as the title suggests, sampled appraisers and AMCs in Texas only. Despite this limitation, certain survey results will be of...…
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Jim Park, Executive Director of the Appraisal Subcommittee (ASC), has valuable information for appraisers regarding their professional information posted publically on the National Registry of Appraisers and more.
Last year, when Park spoke at the Valuation Expo in San Antonio, many appraisers wondered why the “complaint hotline,” established under Dodd-Frank nearly three years ago, was taking…
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Editor’s Note: Fast becoming one the profession’s most pressing problems, another AMCs has failed; this time leaving individual appraisers owed thousands or tens of thousands of dollars. How the lender and regulators respond may create important precedence for the industry. AMC Fails: Appraisers Stiffed Again by Isaac Peck, Associate Editor Evaluation Solutions/ES Appraisal Services is…
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Survey Results: How Reasonable are Appraisal Turn Times? (And is Quality Affected?) by David Brauner, Editor As of this writing, 2,455 appraisers have participated in the OREP/Working RE How Reasonable are Appraisal Turn Times? Survey. Find the data below. Appraisers report that turn times are unreasonable much of the time. Further, turn time demands do…
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Editor’s Note: Fast becoming one the profession’s most pressing problems, another AMCs has failed; this time leaving individual agents/brokers owed thousands or tens of thousands of dollars. How the lender and regulators respond may create important precedence for the industry. AMC Fails: Appraisers and Agents Stiffed Again By Isaac Peck Evaluation Services/ES Appraisal Services is…
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Editor's Note: Most appraisers know how to be form fillers but an appraiser who is a good businessperson also, is harder to find. Here are some tips from the field.
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My first commandment for appraisers is: Know the truth and let the truth set you free. In this context, it means that you are in control of both the appraisal development and reporting. Therefore, let no person coerce, threaten or influence your objectivity, impartiality, or independence.
After that, and based on my 10 years’ experience as…
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