Appraisal Articles

Can you believe it?

In the old days before USPAP, you could hold your arm up in the air and say, “I am an appraiser,” and no one would question it.

Can you believe it?

Some days I feel like this is still the case. There are appraisers that have the education and are doing appraisals, but there is still something fundamentally lacking.

In 2008 with 150 hours required to be an appraiser, I hope to teach an entire class on producing quality work as a part of my pre-licensing classes. This is the only way to solve the problem in the appraisal workplace today.

It is not just the old harp of appraisers doing work too cheaply, though it is a big part, but mostly doing appraisals poorly. Either they have overcommitted their workload and don’t have time to do due diligence or they simply don’t make an effort. There is no substitute for quality, consistency, and clarity.

Ten years ago when I took my pre-licensing classes it cost me $750. If you take pre-licensing classes right now, it will run you about $1400. In 2008, with the six or seven books you will have to buy, and seven or so classes to make up the 200 hours, it will run close to $2000.

So I ask you, in ten years have the price of appraisals tripled? No, and we get calls every day to ask why we charge so much…

Too bad, I say, quality costs more and if you don’t want quality, we don’t want to do your appraisals anyway. I can hardly wait for when there are fewer new appraisers unwilling to choke down the $2000 to get started, so that with the herd thinned, maybe only the qualified will remain.

Maybe at that time there will be fewer poor appraisals that have to be redone because they are so fraught with error. And then hopefully I will never have to hear, “I am just trying to make a living”, from an appraiser who uses cost to justify cutting corners. My motto is do it well, do it right, and get paid commensurate for the good work that you provide or don’t bother doing it at all.

If you have questions or comments, please email me.

Amanda Rivera