If a (res) appraiser doesn't actually do business within a relatively short radius of the subject, then they're not eligible to do the appraisal.

The appeals process actually stands a chance when the ineptness of the appraiser is proven.

I would eliminate the third party appraisal companies.

Area knowledge is my biggest gripe here in Charlotte - we have appraisers who come from neighboring cities to do appraisals here and they have NO idea where neighborhood boundaries are!  Heck, that can even happen within the CITY!  Perhaps only be qualified to appraise in certain zip codes?

Appraisers must be familiar with the general area based on local appraisals they have done, not the next county over!

Megan Judd - the comparables should be 'really comparables' and not just few homes picked 10 miles away or in a different town!

I would like to see the appraisers be picked from those who live in the area (within a certain number of miles) and that the comps could be pulled from another "like" location rather than being locked in to such a small radius of the subject property.

Actually, "canning" it IS an option.  Rarely, do we have appraisals here in Canada, only for exceptional properties.  Our system known as Emili, is described as "a groundbreaking decision-making system," which is essentially a database of properties that uses different factors as way of determining what a house is worth. 

Founded in 1996,  Emili reduces turnaround times on decisions "from days to seconds" and offers lower costs per transaction.

#1: It should be a "cold" appraisal, meaning the appraiser does not know the contracted purchase price. I hate when the first thing they do is ask for a copy of the contract and then their appraisal magically comes in at $1,000 - $5,000 of the purchase price.

#2: we should have an easy process for appealing a bad appraisal and there should be repercussions if we prove the appraiser did a poor job.

Canning it altogether? Nothing, other than I wish the appraiser could get paid more since the changes a few years ago. They are not getting paid their worth.

Remove the responsibility for appraisers to note needed repairs in their report. They are acting more as home inspectors than appraisers

Megan, 

I agree with Candice A. Donofrio .  Each area is different.  A

The right to challenge the comps with alternatives

Appraiser should have a real knowledge of the community they are appraising.

 All in all, appraisals seem to be a part of the checks and balances that help keep our industry from experiencing another bubble like the last one. 

I'm not really sure on what would be a positive change to the appraisal process.

I can't really add more but I second Candice A. Donofrio, Roy Kelley, Thomas J. Nelson, Realtor, CRS, Debe Maxwell, CRS,  Jeff Dowler and others. -Kasey

Megan Judd Candice A. Donofrio has a good recommendation. All appraisals should be done by appraisers who are located within the vicinity of the property.

Get rid of the AMCs.

I suppose the most interesting thing to me is that with all the listings and appraisals that I have had to deal with only ONCE has an appraiser called me to ask how we arrived at our list price.

 Out of area appraisers - go away!

That they get done faster!!!!

My main request: to have a local appraiser. When you get an appraiser who has no idea about this specific location and not open to a realtor detailed explanation if the property is unique in any way, it is most of the times: a trouble.

Some kiknd of a reviewal process for bad apraisals

I would try to make sure all the appraisals are done by local appraisers.

The very nature and core of the process is its Independence from others

The biggest issues I've seen is that they cannot go beyond a certain distance for comps, I believe half a mile.  Sometimes comperable areas or homes are outside of this area.  I'd also like to see all appraisers (not just 90% of women and 10% of men) give credits for work done.  I've had appraisers give me a whopping $8000 for $100,000 worth of work, including redesigning the house, a whole house copper re-pipe AND a brand new kitchen and roof!  They don't even care what was done to the house.

Nothing.

the appraiser should have a knowledge of the area.... 

Banks should only use appraisers familiar with the local market and not bring in appraisers from hundreds of miles away!

Overall ... just raise the bar.  Let's have more qualified and competent people doing appraisals.  Let's pay them for their time and toss the middle greedy hands into the river. They are not needed or necessary. 

Please use appraisers that are familiar with the area

I would like to see that they belong to the local board.

Also after the third complaint, they are on probation and any other complaints that are justified they lose their license!

I would ban out of town and even out of state appraisers from doing work in areas they do not live or work. I would eliminate this next in line gets the appraisal and reward the good appraisers with more work. 

I'll keep it to ONE thing.

For each type of appraisals, the 'order' must use IDENTICAL parameters.

Bank 1 and Bank 2 and Bank 3 should be be modifying the parameters of the appraisals such as their definition of comparable sales which includes time and location.

How appraisers are selected/assigned to specific appraisals. Many appraise in areas they really know nothing about.

Make it way easier to challenge appraisers' choices of comparable homes.

Jeff Dowler nailed this one!

Rub the lamp and three wishes right? More appraisers needed in our area to give options to use banks that don't have the low ball every time and who always have long as your arm lists of updates, want lots of inspections as a routine. Second wish, send just cash buyers or third wish, sellers become willing to owner finance when they don't need to replace the place.

5 sold comps, 5 listed comps.

Not sure I would change much, unfortunately many are agents who could not cut it selling so they fall into this niche.  But I have run into some very good ones too.