Online appraisal technology: high tech or high risk?(insurance connection)
Publication Date: 22-JUN-07
Publication Title: Valuation Insights & Perspectives
Format: Online
Author: Wiley, Robert C. ; Gaglione, Claudia

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Description

Emerging trends in appraiser technology present many new and exciting opportunities for appraisers in today's Internet community. Tools such as online appraiser directories, Web-based appraisals, data resources and automated valuation models (AVMs) help expand marketing efforts and increase speed and efficiency. However, it is important to understand that the effect on your liability exposure has yet to be fully recognized. Moreover, activities that are legally hazardous in traditional appraising do not become less so just because they may be performed online.

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Internet Affiliations

We have long advised appraisers to evaluate their clients and associates as carefully as they would the subject property. This holds true with Internet affiliations as well. Today there are numerous online appraiser directories and referral services. You may have already been contacted by an organization that wants to list your name in its directory or that wants you to provide appraisal services in exchange for a broader marketing base...



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