BOOK & SOFTWARE

WRE: Why do appraisers need to know the material in your book?
Braun:  The users of appraisal services are demanding and USPAP is allowing for more flexibility.  I believe the countdown is on for appraisers; anyone who does not understand and utilize USPAP’s new SOW Rule is going to be at a serious disadvantage competitively. First, they will have to worry about their state appraisal commission scrutinizing their SOW development and reporting. Second, they will not be able to compete with appraisers who know how and when to do less work on certain assignments.

The appraisers who provide a super-adequate appraisal and report will not be able to charge any more than those who do less, leaving that appraiser making less per hour and having longer turn-times. Third, appraisers must be able to recognize assignments that require more work than usual in order to stay out of liability problems (and charge adequately). Apparently, many appraisers recognize this as over 13,000 copies of the First Edition were downloaded from www.workinge.com.     

WRE: Why did you write the Second Edition?
Braun: I believe that the SOW decision mechanism has been the missing step in the progression of the appraisal industry’s journey to the status of a true profession. The absurd idea that “one size fits all” has prevented many appraisers from efficiently (and sometimes effectively) providing services that meet the needs of the intended user. The SOW decision process allows the appraiser to isolate the user’s problem and needs. This allows the appraiser to focus solely on contributing to the solution of that problem. After all, one of the hallmarks of a professional is to be able to “do the job right.”  As appraisers become recognized as professionals they will command more compensation and greater respect.  However, there is a catch- appraisers also will have to take on more responsibility.      

WRE: There are several new guides offered about SOW.  What is unique about your book?
Braun: Most of the books that I have seen focus on the appraiser’s responsibility as described only by USPAP. While USPAP is a major driver of SOW- and I cover this, it is not the only one.  My book covers the subject of SOW in a much broader fashion. It addresses all of the drivers of SOW, such as professional appraisal professions, state laws, supplemental standards and liability management.  In addition, I present some new concepts that are not currently in the appraiser’s body of knowledge.  For example, the “due diligence decision” is presented as one of the main steps in the SOW decision.

This is not in any other material that I have seen. The concept of “credibility” is discussed extensively.  In fact, over 30 new definitions are presented in my book.  I do not see how the SOW decision can be fully understood without these new concepts filling the gaps.  Most of the other guides on the market start at USPAP’s new SOW Rule, assuming that the appraiser already knows the basic concepts of SOW.  I believe this is the only material on the market that starts the appraiser at the beginning of the SOW concept and moves progressively to the more complex facets of the topic. 

WRE: What is the related software?
Braun: This program called the “USL Report Documenter II” is a tool that assists the appraiser in the documentation of an appraisal report. It creates everything from the certification to the SOW. You have heard that an appraisal can be reported on a paper napkin? Well this creates all of the documentation that would have to be included with the analysis.  It is dynamic in that it customizes all of the documentation to the assignment.  Creating documentation that matches the appraisal and assignment is an invaluable tool for use in liability management. This newer version is updated to work with the most frequently used Fannie Mae forms. It also serves as a stand alone “restricted use” format report. Version II of the USL Report Documenter has a helpful and flexible reporting engine as well.

Flexibility is the key as each certification and SOW must be reported uniquely to the assignment and appraisal parameters. While this program requires that Microsoft’s Excel be loaded on the computer, it does not require the user to have knowledge of Excel. The book offers the knowledge and this software offers the means for appraisers to meet the demands of appraising in this new millennium.