What are they thinking????
Recently I was asked by two different appraisal management companies (AMC) to submit miscellaneous information to them so I could be put on their list of approved appraisers and receive appraisal assignments from them. In each case I sent them the copies of appraisal certifications, applications, phone numbers, addresses, etc., etc. In each case they wanted a work sample. In each case they disqualified me based on their review of the work samples. In each case I had looked into my files, found the report that required no thought whatsoever, and sent a copy along. They rejected the reports.
These were reports accepted by other companies without follow up requests for further data or clarification. They were good reports; they were easy reports. Any of us who submit such work for “samples” know from experience that the lender or AMC is not interested to see how we think and analyze, they just want to know if we can fill in the form and produce the necessary attachments that complete a residential appraisal report. (The very first time I was asked to submit a work sample, all those years ago, I submitted a report on a property that was very difficult to analyze, and I thought I had done a very good job of applying appropriate appraisal techniques and sound logic producing a defensible result. “REJECT”
So, these two recent times I sent the very easiest I had recently done. The subject was less than a year old. Each of the sales, of which there were about forty available, were within a half mile of the subject. The only adjustment that was needed was for a patio. The subject had one, the others did not. “REJECT”
By now you’re probably wondering why I am taking up your time whining about it. Well, this is why. In each case, when I was notified that my sample report had been rejected, I contacted the company involved and inquired what was wrong with the report. Why had they rejected it, I asked????? In each case they told me that it was company policy to not tell the appraiser what the concern was. And, in each case I asked them to provide me with their report writing criteria so I might follow it and re-submit. And, in each case they refused to provide such criteria.
When I became an MAI and when I became an SRA, the Appraisal Institute was forthright enough to provided me with a statement of what they required to pass the “demonstration report” requirement to receive those designations. And, in each case I followed their guidelines and passed. (Far more difficult than any business report.) Yet, a business looking for appraisers to provide appraisal services to them play this odd cat and mouse game with the prospective appraisers. I can not figure out any possible advantage to the company looking for appraisal services to be so guarded in allowing the prospective appraiser to know what the report writing criteria of that company is.
If you do, please send an e-mail and let me know.
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