A different approach

We don’t approach appraising as a job, but rather a service where we are passionate out the quality and accuracy of our work product.  Neither quality nor accuracy can be achieved with the quick and cheap mentality. 

  Unlike some “shops”,  we are not a production type operation where a minimal amount of time and effort is exerted often with different individuals performing different functions of the appraisal process with minimal communications.  We also do not serve as a clearing house that provides work to independent contractors that have dubious training and experience.

  I believe in the “one appraiser” “one report” process where a single appraiser takes ownership of the valuation procedure from start to finish in order to best achieve accuracy and consistency.  The appraiser will take the necessary time and steps to achieve a credible, defensible appraisal that can undergo the scrutiny of review or cross examination if necessary.

It is important to review an appraiser’s qualifications.  Often you may have been recommended to an appraiser or appraisal company and find that in some cases they lack a web site or even a listing on Linkedin with any relevant background data.  Ever wonder why an appraiser does not list their education and prior work experience?  Maybe they don’t want you to see it or don’t have anything to show.

 Appraising is supposed to be a profession and not a trade as it is turning into.  Why do I say that?  Over the past several decades, fewer and fewer entrants into our profession are not actually serving an apprenticeship, and are not working directly with a supervising appraiser.  Why has that happened?  Appraisal fees have stagnated and there is not enough margin for the supervising appraiser or firm to allocate for “one on one” training.  Appraisal reviews have become a guideline check and not a “sit down”, “one on one” discussion of the property, process and options with the appraisal trainee.  Some have even said that we now have “the poorly trained, training the untrained”.

When you select an appraiser or firm-

•  find out who will come and inspect the property
• take the time to review their qualifications
• ask if others participate in preparing the report, even if it is loading photos, plats and maps – it is often in this part of the process that the appraiser discovers errors in the site size, and recollects the upgrades, features and property condition or decor’.  It is also best for the inspecting appraiser to prepare the completed floor plan for the report as errors can be found and corrected at this stage.

Best advice is to steer clear of the appraisal “assembly shop”.