Professional Marketplace Insurance, Education, Information Appraisers E&O: $455 (minimum premium certain sates) Appraisers enjoy same-day E&O insurance coverage (most cases) with an A++ carrier and other benefits through OREP. Instant financing is available. Individual Appraiser E&O Rates Per Claim/Annual Aggregate Most States $1,000,000 / $2,000,000 $650.00 $500,000 / $1,000,000 $573.00 $300,000 / $600,000 $501.00 Please…
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Industry News GAO Report on Appraising Released The long-awaited report on appraising by the Government Accountability Office was released to the public in July, in accordance with Dodd-Frank. Many of the issues familiar to appraisers are acknowledged in the report but many appraisers are asking: now what? You can find the report here. UMDP/UAD: Road…
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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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Editor’s Note: Though a water heater is relatively inexpensive compared to the price of a house, repairs for the damage caused when one suddenly has a catastrophic failure is likely to be expensive. This is the reason many inspectors want to be able to give their clients some idea of how old the device is…
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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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You can have the latest map program, aerials and any other special effects to make your report look as attractive and professional as possible but if you choose the wrong comparables, your result will be the worst appraisal report possible. This article shows the best way to choose comps, especially when sales of properties are…
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When are requests for additional comps and other items a legitimate part of underwriting and when are they a not-so-subtle attempt to influence value? That is a question many appraisers are asking lately. At stake are many things, including whether consumers are really better off after all.
The Home Valuation Code of Conduct (HVCC), with its…
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Editor’s Note: Despite getting the short end of the stick, appraisers have stood up, fought back and made progress since the Home Valuation Code of Conduct (HVCC) was imposed on the profession over two years ago. And the final story is not written yet. Why Appraisers Should Pat Themselves on Back By David Brauner, Editor...…
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Readers Respond Customary and Reasonable Fees In the last 10 days I’ve been approached by no less than three new AMCs with orders they had for me. All three of them were readily willing to pay be $315 which, while still below the $400+ full fee for my market, is a positive development. Even more…
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Fear of Fear Itself By David Brauner, Editor I heard this statement recently in connection with the phycology that sometimes drives the stock market: there is nothing to fear but the fear of fear itself. For stock traders, it means rushing to sell- regardless of the actual economic data- out of fear that others might…
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