Class Valuation

[sts2f1]

I just got an email about class valuation purchasing or acquiring appraisal nation. I’ve been working in Nashville for the past four years and it seems four or five AMCs I’ve worked for have been required by class valuation. My thought is this is kind of turning into a monopoly situation Where you have to run through this one AMC to get work. This worries me in terms of fees being paid or the bidding system that we use where they can potentially keep a majority of the fee because there’s no other competition. Is there anything going on in Washington to deal with something like this or to deal with the fee bidding system? Basically we’re just eating each other to get work. The slower it’s getting the fees ive been offered have dropped down to the 400s for multifamily properties and I’m not sure how much longer this can last and people stay in this profession. Any thoughts on antitrust lawsuit or ways to get this changed?

 

[sts2f1]

acquired*

 

[J Grant]

I just got an email about class valuation purchasing or acquiring appraisal nation. I’ve been working in Nashville for the past four years and it seems four or five AMCs I’ve worked for have been required by class valuation. My thought is this is kind of turning into a monopoly situation Where you have to run through this one AMC to get work. This worries me in terms of fees being paid or the bidding system that we use where they can potentially keep a majority of the fee because there’s no other competition. Is there anything going on in Washington to deal with something like this or to deal with the fee bidding system? Basically we’re just eating each other to get work. The slower it’s getting the fees ive been offered have dropped down to the 400s for multifamily properties and I’m not sure how much longer this can last and people stay in this profession. Any thoughts on antitrust lawsuit or ways to get this changed?

IDK how to get it changed. if you have any connection to an RE attorney and perhaps some others could chip in for a consult. I personally do not do AMC work at this point except for one lender-owned captive order, but the compensation system they use is anti-competitive.

Good luck. idk if it makes sense for you to change career paths or not. If I were under age 40 I would be looking at health care or some field where they need people -

 

[glenn walker]

I just got an email about class valuation purchasing or acquiring appraisal nation. I’ve been working in Nashville for the past four years and it seems four or five AMCs I’ve worked for have been required by class valuation. My thought is this is kind of turning into a monopoly situation Where you have to run through this one AMC to get work. This worries me in terms of fees being paid or the bidding system that we use where they can potentially keep a majority of the fee because there’s no other competition. Is there anything going on in Washington to deal with something like this or to deal with the fee bidding system? Basically we’re just eating each other to get work. The slower it’s getting the fees ive been offered have dropped down to the 400s for multifamily properties and I’m not sure how much longer this can last and people stay in this profession. Any thoughts on antitrust lawsuit or ways to get this changed?

No AMCs are not big enough to warrant attention by regulators. Most are just buying the smaller ones who can't make money anymore.

 

[glenn walker]

Yeah it sucks we got $450.00 on 2 to 4 unit's back in 2000....that's 25 years ago and often 3 comps and No UAD. It's bad out there in many areas. Good luck maybe enough others will quit and allow prices to go up.

 

[Tom D]

Another chapter in the walkung appraisers dead series. Your concern should be, what else can i do to make a living.
Appraising in on the road to your bankruptcy. I have transitioned back to a former fix/flip business.

 

[sts2f1]

Another chapter in the walkung appraisers dead series. Your concern should be, what else can i do to make a living.
Appraising in on the road to your bankruptcy. I have transitioned back to a former fix/flip business.

I worked two years to get this license and walking away from it after 4 years seems stupid and lazy.

 

[Terrel L. Shields]

walking away from it after 4 years seems stupid and lazy.

I had to walk away from 6 years in college and a geology degree - after 20 years. It hurts but I cannot regret it. So, if you want to stay in the biz, I suggest you get your CG, pick some specialties to sell. Airport hangars, apartments, C stores and truck stops. If a farm background, there is a chronic shortage of farm appraisers specially building intensive farms like hog farms, chicken operations, feed lots, and ag businesses like feed mills, hatcheries, Agri stores, etc. The residential business seems to have limited growth room and is susceptible to being displaced by AI and AVMs.

 

[sts2f1]

I had to walk away from 6 years in college and a geology degree - after 20 years. It hurts but I cannot regret it. So, if you want to stay in the biz, I suggest you get your CG, pick some specialties to sell. Airport hangars, apartments, C stores and truck stops. If a farm background, there is a chronic shortage of farm appraisers specially building intensive farms like hog farms, chicken operations, feed lots, and ag businesses like feed mills, hatcheries, Agri stores, etc. The residential business seems to have limited growth room and is susceptible to being displaced by AI and AVMs.

I went on AI website and looked up every CGA in TN and emailed or called every single one and they're either retired, about to retire, or not wiling to train. If this profession ends it wont be because of AI it will be because they were forced to use it to get orders through due to lack of appraisers on hand.

My dad has been a CRA for over 35 years here in TN, heck his license number starts with a 1 and is only 3 digits. I want to keep his legacy going and take this to end so I really dont want to have to change careers. Id be curious if there is any push to adopt VA S.O.P. and just have a flat fee for assignments. I think that would solve a ton of issues.

 

[glenn walker]

Another chapter in the walkung appraisers dead series. Your concern should be, what else can i do to make a living.
Appraising in on the road to your bankruptcy. I have transitioned back to a former fix/flip business.

I worked two years to get this license and walking away from it after 4 years seems stupid and lazy.

I went on AI website and looked up every CGA in TN and emailed or called every single one and they're either retired, about to retire, or not wiling to train. If this profession ends it wont be because of AI it will be because they were forced to use it to get orders through due to lack of appraisers on hand.

My dad has been a CRA for over 35 years here in TN, heck his license number starts with a 1 and is only 3 digits. I want to keep his legacy going and take this to end so I really dont want to have to change careers. Id be curious if there is any push to adopt VA S.O.P. and just have a flat fee for assignments. I think that would solve a ton of issues.

Sorry but no the lenders don't want a VA type system and flat fees sound great but in good times they suck.

I'm sorry but the profession is not a growth business and it's dying slowly as technology advances and most appraiser are over 55 and many 60 to 75 years old and retiring or just doing a few a month.

As far as his legacy I'm sure he would rather have you get into a career with growth potential than die on a hill that's not winnable. I prohibited my daughter to even think about appraising as a career and that was 20 years ago.

The writing has been on the wall for at least the last 15 years.