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A Deeper Look at Appraisers

January 22, 2014

NEBBI ReviewsThe reason for hiring a CMEA for your machinery and equipment appraisals is abundantly clear — a CMEA is a certified USPAP-compliant expert whose report will stand up to any scrutiny. But let’s think about this for a minute. A doctor is a certified expert who is bound by the same Hippocratic oath as every other doctor. Does that mean all doctors are equally good?

No, it doesn’t. And just because a certain appraiser is certified doesn’t mean he or she is automatically the best fit for the appraisal. Before you go ahead and pick a CMEA out of the phone book — assuming you still have a phone book, that is — be sure to keep some important considerations in mind.

  • Is this someone I want to work with? Do they have the right personality to create a positive working rapport?

  • What types of appraisals has this person done in the past? Is it a varied list, or have they focused on just one thing?

  • Did they just fall off the truck? Is this their first appraisal or their ninety-first?

  • Does this person have a problem with me asking for references? If so, why?

  • Is this person easy to contact if I have questions? Do they have a website, e-mail address, phone number, etc., that are all easy to find?

In the age of websites like Angie’s List, where you can read both positive and negative reviews of service providers, it only makes sense to perform even the simplest vetting to make sure your CMEA is a good fit. But when you’re putting together your short list, be sure to exclude all the non-CMEAs out there. That should be a good start.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

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