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Virginia Regulatory Town Hall
Agency
Department of Professional and Occupational Regulation
Guidance Document Change: Providing guidance to real estate appraisers and AMCs on the use of hybrid appraisals
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6/18/19  12:03 pm
Commenter: Elisabeth Bernhart

Hybrid appraisals are a step backwards for public trust in appraisers
 

Hybrid appraisals will be a huge step backwards for gaining public trust in us as professionals. Appraisers are regulated and abide by standards that align with clarity and accuracy. They are specific to each property we appraise, and not a computer-generated algorithm. They are appraisers-on-the-ground, doing what we are trained to do as professionals. On the other hand, a hybrid appraisal involving "non-professional-gatherers-of-information/pictures" will be misleading, will lack continuity and produce reports that will likely be filled with inconsistencies and errors.

As an appraiser I feel that we produce an invaluable product for a very reasonable price, all things considered, with all the many facets we perform, along with the fact we are the only objective entity in most real estate transactions. Continuity throughout the appraisal process is KEY. To randomly break up the appraisal process into segments is a reckless idea without wisdom or foresight.

Please reconsider the idea of misleading hybrid appraisals. They will adversely affect our profession and mislead the public.

Thank you.

CommentID: 72594