Why appraisers struggle with engagement letters
Bank: “Why don’t my appraisers read the entire engagement letter?” Appraisers: “It’s hard to find bank specific requirements in lengthy engagement letters.” Both side are correct. Appraisers should read the entire engagement letter. However, they struggle trying to find requirements that aren’t the “typical” stuff every appraisal needs. Improving the engagement letter format would significantly […]
Bad monkey
Chief appraisers and commercial fee appraisers often don’t get training on time management, people management and how to be efficient. Sometimes they get bogged down having highly independent appraisers and reviewers around them. Maybe they don’t understand how to manage that personality type. One Minute Manager Meets the Monkey is a book less about monkeys and more about your business freedom. The idea […]
Is your workflow platform a dinghy?
Appraisal managers always playing “catch-up” If you work in the appraisal department at a bank, what keeps you up at night? In talking with job managers and chief appraisers, one concern is under-staffing. A few people handling a ton of things. Ordering appraisals, dealing with loan officers, talking with reviewers and making sure bank policy is […]
It’s not you, it’s me, an unhealthy relationship
AMCs, an unhealthy relationship? Most fee appraisers loathe AMCs (appraisal management companies). Many feel they’re unprofessional, unknowledgeable with wildly inconsistent reviews and antiquated platforms phrenetical pinging for status updates. To be fair, there are a select few that are professional and have good quality reviewers but that list is uber short like LRES. Fee appraisers view them as middlemen taking a piece of the appraisal pie. Some chief appraisers think they’re an option for handling their overflow […]
Why some appraisers fear opportunity
Leading or hiding? Fear of failure holds back appraisers. Fear to risk anything. Sound familiar? Dominance of left brain thinking has limited our valuation industry. It’s time to be aspirational. Look up from your HP12C for one second. Use your imagination and ask questions. Do you stay in your same role pretending you have nothing […]
Open to rethinking
What if you’re wrong? Few ask themselves that question. Most see the negative side of rethinking what we believe to be true. Indecisive as CEO vs. listening to valuable employee feedback. Flip flopper in politics vs. ability to learn new things for your constituents. Wishy-washy in personal relationships vs. personal growth. When it comes to […]
