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Commission discusses data collectors and hybrid (bifurcated) appraisal work; staff says regulation would require statute
Summary
The board discussed concerns about third-party data collectors and hybrid appraisal workflows and said regulating data collectors would require statute unless they cross into appraisal practice.
Commissioners took up a broader industry question during new business about third-party property data collectors and hybrid or bifurcated appraisal reports.
Several commissioners and members of the public described concerns that companies or individuals who gather measurements or photos on behalf of an appraiser can be presented to consumers as appraisers or otherwise create risk because the appraiser never saw the property. One commissioner said the problem is that the appraiser “has not seen that property” and that the appraiser cannot verify whether the data collector measured by ANSI…
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