Appraising Appraisers

Discussion in 'General Appraisal Discussion' started by Julio E. Sune Jr. (FL), Aug 1, 2005.

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  1. Julio E. Sune Jr. (FL)

    Julio E. Sune Jr. (FL) Senior Member

    0
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    http://money.cnn.com/2005/07/18/real_estat..._0508/index.htm

    "the lowest bidder always win the [appraisal] job"

    "In other words, salespeople and lenders are lining their pockets by encouraging appraisers to look the other way".

    "And request an appraiser who has an MAI or SRA designation from the Appraisal Institute, meaning he or she has a minimum of two years of field experience and 200 hours of classroom training."

    [And the yaada yada yada goes on and on!!]

    :angry: :angry: :angry: :angry: :angry: :angry: :angry:
     
  2. Otis Key

    Otis Key Elite Member

    0
    May 15, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New Mexico
    Thanks Julio. Of course, I couldn't stand the missing the opportunity to at least a nice email to her about her presentation of "facts" in the article. Maybe some others would join in to express an opinion.

     
  3. Farm Gal

    Farm Gal Elite Member

    0
    Jan 14, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Nebraska
    I fired this off on Aug 19th, the day I saw his/her article:

    Gerri:

    I appreciate your fairly even-handed article about the appraisal process from a consumer standpoint.

    However, I would point out that your advice regarding seeking an Appraisal Institute Member, omits some designated members of other fine professional organizations, AND the fact that in order to obtain a license in most states an appraiser would have to _at a minimum_, pass the low end requirements you specified.

    Due to the fact that many appraisers started in this business during the boom times of the recent refinancing craze, there are many appraisers who have the license and the 'minimum chops' you indicated, who in fact cannot appraise their way out of a paper bag, and have been under supervised through-out their entire training period!

    Tenure of greater length or membership in any of the fine professional organizations may bring a higher class of appraiser, and State "Certification" rather than licensure may also be indicative of greater length of training and supervision.

    But not always.

    Kind Regards,
    Lee Ann ______
    Licensed Appraiser
    with 14+ years of experience and a passion for GOOD quality appraising
     
  4. Mike Boyd

    Mike Boyd Elite Member

    0
    Jan 18, 2002
    Professional Status:
    Retired Appraiser
    State:
    California
    Lee Ann,

    Your are too nice. AND, you failed to point out that there are equally fine appraisers who opt NOT to join any union or organization, or who have dropped there membership because they found the leadership had a different agenda than sought by a specific individual. That certainly does not mean they are less of a "fine appraiser."
     
  5. Mike Garrett RAA

    Mike Garrett RAA Elite Member

    1
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    Wait...you mean an MAI has at least two years experience? :rainfro:
     
  6. Farm Gal

    Farm Gal Elite Member

    0
    Jan 14, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Nebraska
    Mike:

    In most states a MAI has to be a general certified. <_< and I didn't say nuthin about MAI's.
     
  7. Mike Garrett RAA

    Mike Garrett RAA Elite Member

    1
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    In my state an MAI could be anything! I was saying that tongue in cheek. Most MAIs have at least 5 years experience at a minimum and that would usually be one with a degree in real estate or appraising. My guess is our MAIs here average more than 20 years experience.

    While it is good advice to seek a designated appraiser, the cost of having an MAI doing a simple residential appraisal is usually prohibitive. One of our forum members gave up his MAI to do residential appraisals for the VA. Less stress and more work. The commercial side of the business here is very cut throat.

    State licensing or certification lowered the bar when it came to education. That bar is again being pushed up with new appraiser qualifications which will be in affect in 2008. I hate to admit it but some of the people I see entering the field are poor candidates for appraisal licensing. 75 hours, a short test and, bingo, an instant appraiser! :(
     
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