Broadcast appraisal orders - How do they choose most qualified appraiser?

By
Real Estate Agent with Call Realty / Access Appraisals

I keep seeing broadcast appraisal orders sent out to a number of appraisers at the same time. The 1st appraiser to click accept gets the order.  But they are all over the place, some as far as 50 mi from my office in a large metropolitan area. I'd like to figure out how these AMCs can show they are actually hiring the most qualified appraiser, as now required by Dodd Frank.  If I hit accept on one of the orders clear accross town & was the 1st appraiser to do so, they would send me the order, but I would be the 1st to say, I'm probably not the most qualified appraiser for an order clear accross town, where I seldom go. So, does this method have any redeeming qualities except for the AMC?  I think not. Why would an AMC not just want to send the order out to an appraiser who was located near the subj. who was on their list & who met their experience requirements, if they had any.

Oh & did I mention that most of these orders have a 2 day, or 48 hr turn time. Due 48 hrs after acceptance. That's another quality issue, by itself.

Comments (2)

Jesse Skolkin
Independent New York State Certified Real Estate Appraiser - Fresh Meadows, NY

I refuse to even look at broadcast appraisal orders.

Aug 02, 2011 12:08 AM
Richard Glesser
North Country Appraisal Services - Gaylord, MI

I always called them "jump ball" orders - first to grab it gets the order.  As always with AMCs, qualified is not a consideration.  The few times I actually logged complaints to the AMCs about the practice, I pointed out that the most qualified appraisers were actually working with no time to sit at the computer waiting to pounce on a jump ball order.

If good appraisers follow Jesse's lead and don't accept them, they will die over time.

Aug 03, 2011 01:06 AM