Whether testifying as an expert witness on someone’s behalf or in defense of your own appraisal before a state licensing board or judge, your keys for success are the same.
Depositions
Testimony in a deposition is recorded by a court reporter and is part of the official transcript. It is, therefore, as important as testimony at trial.…
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Congress, recognizing that quality reports are dependent on paying appraisers “fairly,” wrote a customary and reasonable fee provision into Dodd-Frank, and going further, stipulated that any independent studies to determine such fees should specifically not take into consideration fees paid by appraisal management companies (AMCs), suggesting their acknowledgment that AMC fees are artificially low.
The Interim…
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Like most real estate appraisal boards, Florida’s Board publishes an annual summary of the cases it finalizes against its appraisers. Florida’s Real Estate Appraisal Board (FREAB) does not intend these summaries to be lengthy analyses of “what went wrong” or something law students might study for insight. They are merely summaries of the charges the…
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While many appraisers are still struggling along doing appraisals for lenders and AMCs, some are branching out into other areas within the appraisal field, such as reviewing appraisals for lenders and appraising for estate purposes and divorces. Notably, one area that has not been widely explored is forensic appraisal, i.e. providing attorneys expert appraisal advice…
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I was reading the Working RE survey results and have a few thoughts outside of the survey questions. The story states that many appraisers have gotten out of the profession due to lack of business. I'm curious why they have a lack of business.
I'm currently a Certified Residential Appraiser. I've been doing appraisal work for…
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State Watch: Regulating AMCs By Mike Antoniak When the Home Valuation Code of Conduct (HVCC) became law May 1, 2009 it had unintended but far-reaching consequences for professional appraisers. “The HVCC, and its perceived need for financial institutions to separate the origination and the appraisal ordering function to preserve appraiser independence, resulted in an explosion...…
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Trying to catch the ear of your state legislators? Consider joining a coalition of like-minded appraisers if your state has one; if none exists, start talking up the idea and get things rolling to launch a statewide coalition.
“There’s strength in numbers,” observes residential appraiser Michael Brunson, president of the Coalition of Appraisers in Nevada (CAN)…
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As implementation of Dodd-Frank takes effect, the Federal Reserve Board shed light regarding the implementation of the customary and reasonable fee provision of the legislation.
The Federal Reserve Board, tasked with implementing the landmark Dodd-Frank Financial Reform legislation passed last year, laid out its guidance in the “Interim Final Rule” (IFR) published in October 2010 (find…
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Editor’s Note: This following marketing advice works, according to appraisers and home inspectors.
Appraisers
Good advice is to go after clients who really need your services and who are truly depending on your work product. Create a professional image and work product: website, business cards. Pay attention to how you present yourself- create and polish a 30-second…
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To most appraisers this story is familiar: “I have been working with an AMC who shall remain nameless,” says Vrej Avedissian. “Having accepted a few assignments from them and dealing with their constant emails and phone calls regarding the status of each report, which borders on harassment, when it comes time to pay, it is…
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