Defends Appraisers’ Conservative Practices
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It appears that the national pastime is knocking appraisers. But the purpose of our appraisals is to “estimate market value” and not to justify a sales price or loan request.
Data is the mother’s milk of appraisals. Data on comparable sales must be both accurate and verifiable. All appraisers, whether staff or independent, are under tremendous pressure to complete an appraisal in the shortest possible time. If data on comparable sales is not readily available, it will not be utilized.
Many realty boards, agents and brokers take great pain to conceal data from appraisers. Their lack of cooperation has sown their present predicament.
When the realtors and their boards desire to change from the present adversary relationship with appraisers to a sharing and cooperative relationship, the entire real estate industry will be better served.
D. SUMNER HARDY
Huntington Beach
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