Who is large and in charge? When it comes a real estate appraisal and report, you are! That’s right! You are! While the client wants to think it calls the shots, you do. Really! Have you ever thought why you’re in charge?

Think about it! That lender or that AMC needs you! Since you are a properly qualified real estate appraiser, that lender needs you more than you need that lender. Generally, we appraisers have not communicated that need well. Nor have we made it clear to the lending community that we are the answers to their questions. Moreover, We are the solutions to their problems. Given that advantage, yes, we are large and in charge.

So, what problems do we solve? That lender cannot sell that mortgage on the secondary market until we judge its level of risk. But, don’t underwriters measure risk? Yes, but the measure the riskiness of the borrower not repaying the loan. We appraisers measure the risk of that lender losing money due to the real estate collateral, or changes in the market. As a consequence, we are large and in charge.

“But”, you say, “I have to follow the pre-printed scope of work on the reporting form! I’m not in charge of the appraisal!”. I beg to differ. You can expand your scope of work. Merely explain what you did (and why) over the pre-printed minimum. Can you shrink your scope of work from the pre-printed minimum? Yes! All you have to do is explain why you did it and why that did not affect the credibility of the value opinion.

Large and in charge! Yes, we appraisers are! Now, reflect that truth in the quality of your work and your level of professional fees! There is strength in numbers! Are you part of an appraisal organization that has your back? Does that organization help you to be large and in charge?