Turning Up the Heat
The Summer season is often one of setting out to achieve business and personal development goals, and it is no wonder with the longer, brighter, more energizing days.
In this installment we provide you with industry updates and features that illuminate fresh takes on best practices in this ever evolving field.
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What's Inside?
- New Tech and the Dangers of Using MLS Photos
- Appraiser Disciplinary Complaints: Who's Filing and Why?
- Agents and Appraisers: Confrontation vs. Collaboration
- Competition in the Evolving Appraisal Industry
- Is There a Need for Federal Enforcement of USPAP?
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- Why Higher Fees May Seem Impossible to Some
- The Valuation Industry's Latest Support of Veterans' Homeownership
- Mortgage Rates Maintain Rise
- Confirmed First Quarter Economic Growth
- 2018 Recertification Conference: Details and Registration
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New Tech and the Dangers of Using MLS Photos
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If it wasn't already apparent the appraisal industry has not been excluded in the rise of technology and in order to give your business the edge and provide your clients with top quality reports it is critical to stay up to date.
Recently, Luke Tomaszewski, CEO of ProxyPics, launched a unique app to help appraisers receive on-demand, location-specific media.
Click here
to read Appraisal Buzz's interview with Tomaszewski discussing the features and benefits of the app and how it helps to steer appraisers clear of the inherent risks of using MLS photos in your reports.
Not sure if this is the kind of app that is right for you and your business? Luke Tomaszewski, CEO of ProxyPics will be joining Appraisal Buzz for a
free webinar on June 13 that 2:00 pm EST
to provide app support and better illustrate how this new app is paving the way for the appraisal industry.
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Appraiser Disciplinary Complaints: Who's Filing and Why?
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Interested to know why people file appraiser disciplinary complaints? Attorney and
LIA Administrators & Insurance Services' general counsel, Peter Christensen was likewise curious and conducted a research project based on complaints filed with LIA in the past three years. His research yielded some pretty interesting data, such as, who filed the complaints and what exactly was the basis?
Click here
to view the
data.
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Agents and Appraisers: Confrontation vs. Collaboration
Often there is either an underlying or quite conspicuous tension between real estate agents and appraisers. What causes such contention? In this Appraisal Buzz Magazine feature, Nathaniel Fitzpatrick discusses this potential for confrontation, how to acknowledge the challenges of each field and ultimately doing what is best for the industry and clients.
Fitzpatrick concludes that "lenders can recognize increasing values, appraisers can justify gentrification, and agents can acknowledge perspective to curb confrontation. Optimal results manifest when real estate appraisers and agents collaborate".
Click here
to read more.
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Competition in the Evolving Appraisal Industry
It seems that every day brings brand new technologies and more ways to get the info, the data, we all want at our fingertips. These technological advancements and cultural shifts have not, of course, spared the appraisal industry. There is more competition than ever before including, but not limited to, AVMs, BPOs, hybrid products, evaluations by non-appraisers, and online services.
So what can be done to preserve the value of appraisers when in competition with cheaper, faster services? Appraiser George Dell, with an extensive education background covering econometrics, computer science, and statistics among other studies, has an answer. We evolve with the times while maintaining high quality and most importantly valuable information.
What would make the services offered by appraisers more valuable? According to Dell, providing clients with a score that indicates to them the probability of a value being true. In his piece
Can the Appraisal Profession Be Saved?
, Dell discusses how new technology can help. He concludes that this "can show us ways to provide a much needed product and service. A reliability score. In AVMs they call it an FSD (Forecast Standard Deviation). Appraisers educated in this reliability estimate can outperform all of our competitors. And provide a much needed service for the public good."
Click here
to read in full.
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Is There a Need for Federal Enforcement of USPAP?
The vast and varied regulatory bodies within the appraisal industry are certainly a source of great frustration. Is that frustration and the instability of such variances from state to state completely unnecessary? WorkingRE contributor, Mike Ford, certainly seems to think so.
Click here
to read his piece on the need for federal licensing for appraisers to replace the tangle of inconsistent state regulations, and how it would best serve the public good and be much fairer for appraisers.
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Why Higher Fees May Seem Impossible to Some
It is no secret that appraisal fees can vary greatly, from region to region and even appraiser to appraiser within the same region, but have you ever considered why?
Instead of presuming cheap, unprofessional, demanding AMCs are solely to blame, considering the quality of one's own work and fee negotiation skills could prove to be quite revealing and perhaps even lucrative.
Click here
to
read Richard Hagar's piece,
I Can't, Therefore...It's Not Possible
, where he discusses these issues and his many experiences with fee discrepancies among appraisers.
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The Valuation Industry's Latest Support of Veteran Homeownership
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Click here
to read about how John Bell, Deputy Director of Loan Guaranty Services at the VA has made numerous improvements for Veterans pursuing the American dream of homeownership.
Bell urges, " if you come across a Veteran who is not utilizing their benefits or thinking of not using them, ask “why”. The program saves Veterans money. Every day we come to work, and we do it to make the VA the most competitive lending program available in order for Veterans to utilize the benefits they have earned".
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Mortgage Rates Maintain Rise
Click here
to read National Association of Home Builders' contributor, Michael Neal's analysis of the recently reported data.
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Confirmed First Quarter Economic Growth
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Click here
to read Michael Neal's, of the National Association of Home Builders, analysis of the Bureau of Economic Analysis (BEA) recent reports.
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This year's Recertification Conference offers
one full day
of business enrichment covering topics such as best practices, technology, networking, industry trends, training, how to run a successful appraisal business and more and
two days of CE
with a 7-HR Investment Analysis for Income Properties course and 2018-2019 7-HR USPAP Update course. Come Join Us!
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FREE Webinar - The Dangers of Using MLS Photos in Your Appraisals
Date: Wednesday, June 13th
Time: 1:00PM CT (US & Canada)
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NAREB Convention
Date: July 25-28th
Location: Atlanta Hilton
255 Courtland St NE
Atlanta, GA
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NSREA's '18 Recertification Conference
Date: July 23-25th
Location: Atlanta Hilton
255 Courtland St NE
Atlanta, GA
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2018 Congressional Black Caucus
Date: September 19-23rd
Location: Washington, D.C.
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