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Appraiser shortage could spring from education requirements

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Mortgage Professional America | 22 May 2013, 04:00 AM Agree 0
The barriers to becoming a certified appraiser could lead to shortages in the field, an industry professional has claimed
  • Dan Peterson | | 29 May 2013, 04:04 PM Agree 0
    The article implies decreasing the competency standards of the appraiser as the solution. That seems like it would only be a good idea from a AMC perspective where the more appraisers there are chasing after work the smaller the fee the AMC has to pay the appraiser. Perhaps instead of dumbing down the appraisal profession a more sustainable system would be to remove the AMC price shopping incentive that ensures the AMC brings the lender the cheapest appraiser in town. I would suggest doing that by paying the AMC a fixed rate based upon what he brings to the table. AMCs are the cause of what ails the appraisal profession, not that appraisers need less training.
  • Facts | | 09 Jul 2013, 11:16 AM Agree 0
    The AMCs are the only ones complaing about the increasing standards to become a appraiser which is a good thing. The AMCs want as many appraisers in the business as possible. The AMCs send out appraisals for 275 and want as many appraisers in the business so some one with low srandards will bite. THIS IS A PROFESSION. The higher standards would have helped prevent the real estate melt down. The authors of most of the articles complaing about College standards have positions at AMCs google their names or their make money in some type of way on appraisers back. The author Greg Stepbens has a serious conflict of interest!!!!!!
  • Facts | | 09 Jul 2013, 11:48 AM Agree 0
    The author actually said that we need to open up ways for more appraisers to become Certified faster and lenders should allow trainee appraisers to do the work That sounds like AMC talk to me!! Reverse the rules when fees are rising. FEES IN NY HAVE RISEN OVER THE LAST YEAR TO RESPECTABLE LEVELS. Now they want to change the rules. This is a profession.
  • Retired Appraiser | | 06 Dec 2013, 03:18 AM Agree 0
    Becoming a COMPETENT appraiser easily takes more time and effort than going through law school. Few appraisers have gained the necessary experience by encountering even 50% of the valuation scenarios out there in the first five years on the job.

    Today's appraisals pay roughly the same fee as they did 15 to 20 years ago while expenses have increased at least 50% and the workload per appraisal has DOUBLED.

    Who in their right mind would recommend this career to their worst enemy? Be honest now.

    I spent 20 years building my firm and shoveled 1,500 sf of useless appraisal crap into 4 dumpsters in 2009. The HVCC extortion based business model (now renamed) offered a 100% money back guarantee that the profession would become a minimum wage job (if that).

    Four plus years have passed and I must say that I was absolutely right about getting out of the business and handing it to newbys with no accounting skills. Those guys are so busy grinding the nose off of their face they never have time to look at the books and see they are going bankrupt.
  • Retired Appraiser | | 27 Mar 2017, 11:00 PM Agree 0
    And then could come from the fact that banks grabbed 50% of the appraisers fee as far back as 2009 via their AMCs. Couple that with the fact that the work load on appraisers per order was more than doubled since 2009 and you may have a clue about what took place.

    How about the rest of you? Would you take a 50% pay cut and do twice the work for your current job? If you would be willing to do so I assure you that you're just dumb enough to become a real estate appraiser.
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