We Value Bloomington-Normal

I was invited to speak at the 2008 a la mode conference in Atlanta, GA this past weekend on paperless office topics.  They started the concept of inviting practicing appraisers, to share their ideas on "Real World" topics with other appraisers, at their conventions last year.

One of the best parts of going to a la mode conventions is getting a chance to listen to the Chairman and founder of a la mode, inc., David Biggers, address the attendees on his visions for where software is going, where the appraisal industry is going, and what they doing to help the residential appraiser.  This year was no different.

The short video below was made at the 2008 a la mode Atlanta Conference.  Dave Biggers spoke twice to attendees about his company's position on the proposed Home Valuation Code of Conduct and the role of Automated Valuation Model (AVM) companies.

The lead-in to the story is that Dave was having an email conversation with a business friend in the AMC business.  A la mode's position is that borrowers should be given ALL of the valuation reports that were ordered, including appraisals, BPO's and AVMs.

[Click here to read Dave's article, "HVCC: The Cure Is Worse Than The Disease", from the first edition of Appraisal Press.]

In response to that suggestion, the AMC head said that can't do that because "it's too hard" to explain an AVM to a borrower.   

Dave Biggers says: "I don't remember there being a regulatory - Gee that's really hard - excuse?"   They're basically saying to their borrowers; "You're so stupid you couldn't possibly grasp what we're gonna show you!" 

Click below for the clip . . .

One of the most interesting concepts that Dave discussed was actually NOT the HVCC . . .but that they were working on a plan to develop an Appraiser's AMC where a la mode would market our services directly to lenders.   

As Dave explained, this would be targeted at that niche market of lenders and brokers that are large enough to need the automated online ordering services of an AMC but too small to require the services of one of the major AMCs.

The plan will be unveiled and explained in the next issue of Appraisal Press, but it definitely drew applause from the room full of appraisers in Atlanta!   

A la mode would handle the marketing, technology, delivery, and servicing of the lender . . .and charge a small fee ($10-$15) to the appraiser.   Notice that this is not a fee just for delivery.   

Their plan actually drives "full fee" work to appraisers . . .and we would only pay for the service when an assignment is received.

a la mode is uniquely positioned in the industry with their XSites, Mercury Network, SureDocs, and many other innovations to tackle this task.  I know that they have the technology infrastructure in-place to to bring this to life quickly and in compliance with where the HVCC and IVPI are headed.  We'll be watching for the next http://www.AppraisalPress.com issue for details!

Author: Brian J. Davis, RAA - Brian Davis & Associates - Brian has over 24 years of appraisal experience in Central, IL and hosts the Appraisal Scoop blog and the WinTOTAL Users Group an email forum for appraisers.