AQB's latest dumbing down by 'Stakeholders' Dropping the College Degree Requirement

[Surf Cat]

How’s it going to look when a 19-year-old shows up to appraise your house?

If the 19-year-old was from an appraisal family, showed interest from a very young age, was mentored, and had a license.... it wouldn't bother me one bit.

I took my kid out with me on inspections when he was out of school for the summer and not in a camp of some sort. Talked him through the process while I was doing it. Showed him how it all came together in a report.

He wanted nothing to do with it. LOL

 

[TerryRohrer]

LIke one I followed up on recently. I called to schedule an inspection after being engaged and the borrower said it had already been appraised. He called back in a day or two and said the bank hadn't heard from the appraiser. During my inspection of the home, probably in the top .1% in value in this market, the owner talked repeatedly about how the long haired kid in shorts and flip flops kept talking about how he had never done something like this, while asking no questions and spending a fraction of the time on-site that I was. Without my prompting, he suggested the first appraiser was chosen for the low fee. I suspect at some point, borrowers will start figuring it out. Not all are as stupid as the "stakeholders" beleive.

 

[Dublin ohio]

He is the excdpionn

He is the exception an and a HS grad like this with enormous drive and innovative talent would never chose to become an appraiser -

the reality is most HS grads are stuck in low earnings, rote unless they take steps to learn a trade or a profession. A rare few are entrepreneurs or innovators, and the many college grads are not innovating billionaires either - though more are in high earnings and powerful positions overall -

There a lot more "exceptions" out there than you realize. No they aren't all multi millionaires. Do you think that the plumber or electrician or hvac tech that built up a company over the years is an exception. Most of them started out at the bottom of the ladder right out of high school. Most of them have no degree. Same with many other small business owners.

 

[Surf Cat]

LIke one I followed up on recently. I called to schedule an inspection after being engaged and the borrower said it had already been appraised. He called back in a day or two and said the bank hadn't heard from the appraiser. During my inspection of the home, probably in the top .1% in value in this market, the owner talked repeatedly about how the long haired kid in shorts and flip flops kept talking about how he had never done something like this, while asking no questions and spending a fraction of the time on-site that I was. Without my prompting, he suggested the first appraiser was chosen for the low fee. I suspect at some point, borrowers will start figuring it out. Not all are as stupid as the "stakeholders" beleive.

I've had friends knowing that I was an appraiser, show me their appraisals during gatherings or barbecues. They'd say "look, I have a fireplace!" and laugh. Of course they didn't have one, but they didn't care. The appraisal met the needs for a cash out refi.

 

[Dublin ohio]

the owner talked repeatedly about how the long haired kid in shorts and flip flops kept talking about how he had never done something like this

If I was the homeowner. I would have immediately called the lender after the "appraiser" left and asked WTF.

 

[J Grant]

There a lot more "exceptions" out there than you realize. No they aren't all multi millionaires. Do you think that the plumber or electrician or hvac tech that built up a company over the years is an exception. Most of them started out at the bottom of the ladder right out of high school. Most of them have no degree. Same with many other small business owners.

Yes, they would be exceptions for HS grads, but not the extreme success of a Steve Jobs

A person with the ambition and organization to build up a plumbing company over the years would probably not become an appraiser. Som of the HS grad becoming an appraiser are the problem - while some are smart , others, frankly appear dense, - wrt the posts here from people who memorized enough to pass the exam and have no idea how to apply it in practice- and those are the ones who at least realize they need help and show up to post.

Once again, the purpose of college as the entry barrier is to screen out the dense and clueless and those who can not focus enough to finish 4 years of study - or finish two years if an AA degree is the norm.

 

[George Hatch]

That's not the stated purpose of college, either.

 

[J Grant]

That's not the stated purpose of college, either.

I meant it as my personal idea of (one of ) the purposes of college as a screening floor for the appraisal profession entry.

 

[Joe Flacco]

I think there should be a complete overhaul of the requirements instead of these adjustments.

 

[Tiffany Gibbons]

If the 19-year-old was from an appraisal family, showed interest from a very young age, was mentored, and had a license.... it wouldn't bother me one bit.

I took my kid out with me on inspections when he was out of school for the summer and not in a camp of some sort. Talked him through the process while I was doing it. Showed him how it all came together in a report.

He wanted nothing to do with it. LOL

And that's the fun part, lol