Posted by Jonathan J. Miller -Tuesday, November 29, 2011, 7:00 AM
Last summer I wrote an article for the now defunct Live Valuation Magazine. I attempted to explain to both appraisers and non-appraisers why our appraisal industry is so screwed up.
It was the cover story for one of the last issues – nearly a think tank of new ideas, the loss to the industry was a real setback.
In light of this change and the importance of the message to the industry, I have allowed Appraisal Buzz to republish it. Hope you enjoy it.
Neutral Valuation: Allowing appraisers to provide the service they were built for
As a real estate appraiser for the past 25 years, I’ve always viewed my role as a provider of a neutral valuation benchmark for clients to become empowered to make more informed decisions. Of course this is a fantasy-based, in-a-perfect-world depiction rather than an actual practice. In mortgage lending, residential real estate appraisers are not able to provide an independent market value without some sort of reprisal if the results do not match the client’s needs. Since the credit crunch began with the Lehman Brothers bankruptcy that roiled the world economy in September 2008, our profession has actually strayed farther from being any sort of neutral valuation benchmark….[read more]
Like in the original publication, the comments on Appraisal Buzz reflect the fact that the article really touched a nerve.
- Neutral Valuation: Allowing appraisers to provide the service they were built for [Appraisal Buzz]
- Neutral Valuation: Allowing appraisers to provide the service they were built for [Live Valuation Magazine]
- Neutral Valuation: Allowing appraisers to provide the service they were built for [Miller Samuel [pdf]]