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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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6/26/19  11:11 am
Commenter: Antone Washington, Washington Appraisal Services,LLC

Hybrid Appraisals
 

I think hybrid appraisals are dangerous for the appraisal industry. The reason for this is that you have unqualified people participating in the appraisal process unsupervised. The fee, as many appraisers would state is low, however, the reason I oppose this is that this is another attempt to eliminate the industry. The importance of "human eyes" is vital to this industry. Without a trained professional, an inaccurate value could be estimated which could damage the industry, i.e. the crash in 2008. This happened because unqualified or unscrupulous individuals were involved in the appraisal industry. The appraiser is a vital part of this industry and using hybrid appraisals would dilute the appraisal industry.

CommentID: 72735