Appraisal House Blog

I received this exciting opportunity tonight via email (through the Mercury Network, which annoys me):

Dear Appraiser,

I have a unique product my client is interested in ordering. They have used realtors, however they would like appraisers to do this. It is a 2 billion a year industry and appraisers have been cut out on.  I have clients that would be willing to use appraisers for their product. Realtors have been doing these for the past 3 years and do between 20-25 per week and earn an additional $1200-1500 per week. I have clients that are willing to pay $60-70 per order. Realtors give 24hr turn times on these. I have our turn time set at 48hrs with the client.

They are very simple you go to the subject property take 7-8 photos of exterior, if vacant take interior photos if you have access. They also need you to pull MLS comps on the property that you think are the best comparables for the subject property. There is no write-up and they will come in blocks of 3-4 usually at at time. You attach your photos and comps to the form in alamode under General Property Inspection. This form is found by going into appraisal product requirements.

Basically, these are photos of the subject and pulling MLS comps. No write up is needed. This product will start in approx. 2 weeks.

Sincerely,
Otto Krebs
Diligent Asset Valuations

okappraisals@sbcglobal.net

So do you know Otto?  All I have to do is provide him with MLS comps on the property, which, if my MLS board finds out, will get me a substantial fine and probably my MLS access revoked, since it is a violation of my MLS agreement to disseminate the MLS information.  But for $60-$70 a pop, for only 2 hours of work (plus gas and the usual overhead), that seems well worth the risk of losing my livlihood! 

The sad thing is that Otto is a certified appraiser in California.  Seems to me that he is selling out his own profession, but that is just my opinion.  What do you think, am I wrong?  Does this seem like a good opportunity to anyone?