Appraiser Bias Narrative
You’ve probably have heard what happened. An interracial couple orders a residential appraisal in Jacksonville, value comes in at $330,000 for the black wife and $465,000 for the white husband. Different appraisers, same bank, different comps, different outcome. Do we have all the facts? No. I’m of course on the side of appraisers and fully believe this isn’t a systemic problem, but again it doesn’t matter what I think as an appraiser. What […]
Abundance of Caution
As a fee or bank appraiser, is your productivity lagging behind your peers? Are you stuck at a red light? USPAP defines Appraiser’s Peers as: other appraisers who have expertise and competency in a similar type of assignment. Does that include business productivity expertise and competency? Appraisers as risk management professionals tend to be risk […]
Appraiser Mojo
“OMG, you’re an appraiser? That’s AMAZING!” I hear this all the time…no…never. But why not? Mojo is that exact time when you do something powerful, purposeful and impactful. You can feel it. Others can see it. It’s more than just being cool. It’s having your appraisal department run like a Tesla. Tasks sequenced perfectly. Workflow Master. Total transparency. How insufficient is enough? It’s hard to have mojo if you lack […]
Appraisal department overload
Appraisal departments: absolutely swamped, understaffed, not enough people on my team, overwhelmed, don’t have the time, doing a job that’s meant for two people, working the weekends…in a word, buried. Many new appraisal managers recently left the fee world and are trying to figure out their position. That’s a difficult transition from creating appraisals to […]
Appraiser shortage, do you feel it?
Many commercial fee appraisers are currently turning down jobs. They’re reducing their coverage areas. Cherry picking the easier jobs. Increasing fees. That’s the case in July 2021. Many chief appraisers and appraisal managers have said they have never seen turn times this long from their vendors. We’re talking 4-6 weeks for commercial and 3-4 weeks for residential. Is there a capacity issue or a productivity issue? The cost of […]
What brings you here today?
“I work hard creating my appraisals; it frustrates me when reviewers ask for a bunch of revisions for a low fee.” – commercial fee appraiser. “It’s hard enough to manage high appraisal volume; today I have to deal with lender push back.” – chief appraiser. If fee appraisers and chief appraisers were on the psychologist couch, they would likely […]
