How do deals come together for the sale of appraisal firms and appraisal management companies? Many of the biggest deals have resulted from the work of my investment banking friends John Guzzo and Jason White at the firm Berkery, Noyes & Co., LLC. So, it was fun to write an article with them about the Read more…
The New Jersey assembly member who introduced an appraisal anti-discrimination bill last week has introduced a second bill with more detailed requirements to be imposed on appraisers, appraisal management companies (AMCs) and real estate agents/brokers – including a requirement that they provide sellers of residential property with a pamphlet about Read more…
Update: A new bill (A-5185) has been introduced in NJ on this same subject with more detailed requirements. A new article has been posted here. New Jersey has become the second state in which legislation has been introduced this year to address current allegations of discrimination in residential appraising. Introduced Read more…
Update: On December 18, 2020, the Supreme Court denied LREAB’s request for a stay of the FTC’s action underlying the potential appeal — this means that, even while LREAB pursues a potential appeal to the Supreme Court, the FTC case will go forward. The first case about real estate appraisers Read more…
In Illinois, a bill (HB 5862) has been introduced to amend the Illinois Real Estate Appraiser Licensing Act and the Real Estate License Act to expressly prohibit discrimination in appraisals, broker price opinions (BPOs) and comparative market analyses (CMAs) for residential real estate. The bill would amend each licensing act Read more…
Please consider one of my current appraiser CE classes “Liability Issues for Appraisers Performing Litigation and Non-Lending Work”Live on Zoom, November 11, 10:00 am to 1:00 pm Pacific Time, Price $59.953 CE hours, BREA Course No. 18CP119903003Course Provider LIA Insurance AdministratorsThis presentation is co-hosted by Appraiser eLearning “Appraiser Liability 101: Essential Concepts”Online Read more…
If you love CoStar, you’ll love this lawsuit. On the other hand, if you’ve been hoping that an upstart like CREXi (Commercial Real Estate Exchange, Inc.) would succeed in creating a competitive national CRE data and listing alternative to CoStar, you won’t be happy. Is CoStar using the alleged copyright Read more…
“Wow. I did not go into the basement on my last visit.”
It’s not only real estate appraisals and business valuations that lead to lawsuits alleging professional negligence and violations of practice standards. Personal property appraisers receive their fair share of claims too – often with interesting stories. In this new case, ACF FinCo I LP, which describes itself as an asset-based Read more…
The Real Deal in New York recently published a story about Cushman & Wakefield, the national real estate firm, having three separate class action lawsuits in which commercial appraisers are asserting claims for unpaid overtime and other damages because the firm (or its subsidiaries) allegedly followed a practice of classifying Read more…