http://www.realestateappraisertips.info/ – More Valuation 2009 Photos and Real Estate Appraiser Tips Commentary
Wow! I arrived back in Baton Rouge last night and need to hit the ground running this morning to meet client appraisal deadlines but wanted to share these photos and some commentary about the event.
Thanks To Joan Trice & Staff.
First, Give Credit Where Credit Is Due! I sent this to Karen Connolly and Joan Trice with Appraisal Buzz, facilitators of the annual Valuation event: I wish to thank you and Mike and Joan for a tremendous Val 2009 Conference. I honestly didn’t want to leave last night around 7pm. The most valuable part of the conference was being around other appraisers and just listening…..to their struggles and successes and marketing ideas. One appraiser said that he always takes his CE out of town so he can listen and get great ideas from other appraisers outside of his market. Their were some sharp appraisers in that conference.
This was my first Val conference to attend, so I don’t a reference of comparison. At lunch yesterday, it was said by the appraisers at the table that attendance was around 425. All I can say is that my personal experience at Val 2009 was phenomenal, blown away by the quality of the conference hotel, the service of the AlTerra staff and the quality of the presenters at the conference! My head is definitely out of the sand now and I’m awake and embracing the new valuation changes within our industry! I just wanted to say thank you for a tremendous experience! Bill Cobb on Twitter @appraisertips
High Ranking Brass Was There and Open To Listen.
There were some extradordinary leaders attending this event, far too many to list all of them here. A few names: Alan Hummel & John Forsythe with Forsythe Appraisal, Mark Johnson COO LSI, Jeff Bradford Bradford Software, Rachel Dollar with www.mortgagefraudblog.com , Chuck Mereddu with Quality Valuation Services, Jim Park with ASC, Alfed Pollard with FHFA, and Robert Murphy with Fannie Mae. The impressive aspect of their attendance was that they made themselves available for comments and questions from the everday appraisers in the field. During the “State Of The AMC Industry” talk, Appraisers peppered the 4 member panel on topics and questions on Appraisal Fees (what is the definition of the “standard market FHA fee” to an AMC), Their Livlihood as Appraisers and AMC regulation. At times, the discussions turned pretty heated. Many Appraisers Traveled All The Way From Massachussetts, Minnesota, etc.. For Answers!
Ann O’Rourke carried a notepad throughout the conference talking to appraisers and getting their ideas (taking notes). I saw her walk up to appraisers and ask, “What’s your best tip for working with AMCs?” Be sure to subscribe to her paid $8.25 month Appraisal Today newsletter (in the mail type) for a complete article on tips from appraisers across the U.S. on how to work best with AMCs. Subscribe at www.appraisaltoday.com Bob Ensmingers, PA Appraiser, has some especially good tips on this subject.
LSI Road Show!
I’ve been working with LSI since 1996. What I’m about to say is not brown-nosing…I have no reason to do so. LSI is emerging as THE leading AMC in the U.S. with BIG plans for the future of appraisers. When Mark Johnson, COO of LSI, introduced himself to Ann O’Rourke, she said, “Oh, you’re with the mother-ship of AMCs!” LSI, by far, was THE most impressive AMC at the event. LSI now has 20,000 appraisers working with them with LPS having a total combined staff of 64,000 (including the 20,000 appraisers). With that sheer number, LPS announced www.ecpurchasing.com where they have discounted rates for mobile phone plans, Dell Computer, Office Max, etc.. Mark Johnson spoke of his efforts to raise appraiser fees with the lenders they servce.
LSI Road Show Event. The actual event was lead by George Vann, Chief Appraiser, and John Holbrook, developer of S.M.A.R.T. Appraiser Software, now with LSI/LPS over Collateral Risk Management. This lasted from approx. 9am til 2pm and was a time to outline what LSI expects from their appraisers AND a Q & A time for appraisers to ask their questions and get a clear understanding from the “Chief” on appraisal issues. I’m certainly glad I attended and gained much insight into the Valuation Industry and HOW CLIENT NEEDS ARE CHANGING!
THE VALUE IN ATTENDING!
In my opinion, the value in attending was to be around other appraisers from around the U.S. and just listen to them and their marketing ideas, finding out the true state of the REOs in the U.S., which is not what’s being reported in the glossly news headlines about a stablizing Real Estate Market, and where the near future of appraisal orders will be generated from and why.
THE RECURRING THEME THROUGHOUT THE EVENT!
It seems like the recurring theme was that with the current REO inventories being so high in certain areas of the U.S. and will get higher as the Option ARMs reset each year, Client Needs Are Changing. And, appraisers and the appraisal industry has not embraced AVMs or a form of Appraiser Assisted AVMs, which, in the right form, are USPAP compliant and do meet non-lender client needs for portfolio analysis. This is why such vendors as “Bradford Software’s Compcruncher” and “Live Valuation” had booths at the conference. According to Jeff Bradford, Compcruncher is meant for non-lending work, anything that doesn’t require a 1004. Because appraisers aren’t serving this side of the market, this is part of the reason I have a Real Estate Agent in my church that been working 6 days a week for the past 2.5 years doing BPOs and making a killing doing so with his advanced BPO templates. And, no, this agent isn’t an agent to list many properties but rather to perform BPOs. And, Yes, I understand that up to this point, appraisers have understood that it’s against USPAP to perform BPOs. The alternatives coming out for appraisers are not BPO products, but are USPAP compliant form driven electronically filled in products that take far less time to complete….from their desk. Whether you like this direction or not, it’s a reality that’s here for those that take advantage of the changing client needs in 2009. Today’s Entrepreneurs make money by discovering a problem and then monetizing on their solution to that problem.
THE END!
Sorry, I need to get to work! Please forgive me if my grammar above is not 100% perfect. Also, the photos below were taken with my iPhone and are a little dark because the Trade Show Arena was a bit dark.
Bill Cobb…..Delivering Appraiser Tips To Help You Work Harder On Your Business Than In Your Business – Not Just Industry News!
Elegant Hallway In The Roosevelt!
Ann O’Rourke With Appraisal Today With Harrisburg PA Appraiser, Robert Ensmingers www.appraisaltoday.com and www.ensmingers.net
Carla Blouin With SFREP’s Appraise-It Software Booth www.sfrep.com
Bradford Clickforms Appraisal Software Booth www.bradfordsoftware.com
Alamode Appraisal Software Booth – From Left To Right: Paul Stansberry, Matt Krodel & Brain Hedges www.alamode.com
Kirchmeyer & Associates, Inc. Booth www.kirchmeyer.com
First American Core Logic Booth – Left To Right: Nicole & David Dennin www.facorelogic.com
Marty Chapman – SouthEastern Evaluation AMC – Greenville SC www.see-amc.com
Scott Wilkinson with Solidifi www.solidifi.com
JVI – www.jvisolutions.com
PCV Murcor AMC – www.pcvmurcor.com
Metro-West Appraisal AMC – www.metrowestappr.com
Live Valuation www.livevaluation.com & FNC www.fncinc.com
Property Sciences Appraisal Reviews www.propsci.com
And….the IHOP Supper With The Family Tuesday Night Upon Arriving Back In Baton Rouge – Bill Cobb with Daughter, Anna! Anna had just found a “4 Leaf Clover” that day!
And….the IHOP Supper With The Family Tuesday Night Upon Arriving Back In Baton Rouge – Lisa Cobb with Daughter, Adinah!
Same Restaurant One Month Earlier
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Thanks for the update, Bill. It sounds like a tremendous conference.
Good stuff Bill. Just meeting Ann O’Rourke would have made the trip worthwhile for me. She’s done so much for appraisers.
Great update Bill!
-Jenn
Bill,
This is great. Now I wish I had been there with you and these people. I think that one of the Problems in the Appraisal Business, is this Change and Customer needs are unknown. People do not know What to ask for. You just may have found a source for these questions and answers at this show. All I have heard so far is that Appraisers need to do More for Less! Who wants that? With all of these Industry Leaders at this show, there appears to be some insite for the industry to get what they need and for Appraisers Ready to serve and get paid.
Thanks for Sharing
Terry T, Gainesville, GA