20 Minute AI Appraisals Are Coming

[azbassman21]

If docs and teachers will not needed, why would appraisers not be replaced?

Everything is corporate now. The big corporations will get rid of us. It will first start with hybrids, then waivers. What we do is not rocket science. They could replace 90% of us now and nothing would change.

It's like we have a script for a script movie...they are telling us that in 10 years most humans will not be needed. Crazy shet.

10 years is a little premature. 20-30 years is more realistic for most humans. 10 years is pretty accurate for human appraisers.

https://www.cnbc.com/2025/03/26/bill-gates-on-AI-humans-wont-be-needed-for-most-things.html

Smart people will destroy the world..greed...ego.....walk a mile in an average man's boots, but they won't. We are too stupid.

https://www.housingwire.com/article...-technologies-announce-appraisal-partnership/

NightHawk™ - Appraising Reimagined | Bradford Technologies, Inc.

www.bradfordsoftware.com

And like most things corporations completely consume, they find a way to make it work for them, legal or not, generate insane revenues, then when it comes out they screwed it all up, maybe get a slap on the hand and then shout it's time for change. We will always have a place somewhere, somebody will need us.

 

[J Grant]

The problems with AI are going to need an army of humans to combat it - esp with a profession like lending and valuaoitn where lots of $ are at stake with each file - the idea that AI is benign or helpful is in direct opposition to the problems it can cause indludinb lack of compreshiion and learning and untold harm with autonomous warfare, hacking, plagiarism etc.

I personally think it has positive applications in fields such as science and medicine and the rest it will bring more harm than good - job displacement alone is a reason to not embrace it - but idk, maybe God is tired of us and wants us to self implode and what better way to do it then with our own creation - AI when it reaches a critical mass can decide humans are irreelanta and too much a threat to the preseraon of earth and toom expensive a life from to keep around - in an existential sense that can even be right - every time I contemplate wide scale adapatoin of AI it is never a good outcome

It stifles creativity and original thought and plagiarizes and cheapens everything it touches. For corporate use, the top 1% will get richer than ever, and for propaganda and infecting social media, the ability to influence and spread falsehoods and control algorithms is frightening in implication.

 

[NC Appraising]

This is what's caused our profession to be in jeopardy from the start. Failure to adapt to new methods. Also, Fannie Mae's forms and the ridiculous guidelines with comp photos when the data is readily available. There is too much wasted time. Changing the form via a 3rd party company who could actually get it done in a year, not 10, reducing the ridiculous time wasting requirements of taking comp photos and acting as a home inspector for FHA assignments, ridiculous AMC revisions, and appraisers actually adapting to time saving technologies, i.e. lasers measuring, phone apps, etc. This industry is antiquated unlike any other and we have failed to prove our worth.

I agree and disagree.

In the short term yes. Long term no.

I started using a tablet in the field around 10 years ago. I've been using a disto for 20 years.

I currently used all of the big name software tools.

So let me ask you this...

If all appraisers used tablets and distos, not driving comps, etc. would the GSEs use waivers, 97% ltv or hybrids?

Yes.. Tech is just advancing to fast.

The problem is, technology is replacing us in the long term and not helping us.

Cubicasa is the perfect example. It did not help us at all. It made for hybrids and non appraisers to take our jobs.

Same for avms. We could use all the tech in the world and the gses would still use avms with pcr reports.

hybrids are short term. Eventually the gses will published data confirming that their avms are just as accurate as appraisals. I'm not saying appraisers will 100% disappear, but in 10 years I think appraisers will do 10% of the volume for mortgage work.

 

[George Hatch]

It might be more than 10%, but whatever is left over after the machine gets done with us will have a much higher average degree of difficulty. And profitability. IMO

We might have to convert to billing by the hour.

 

[J Grant]

Whatever AI does will need human intervention and review and inmo will be integrated into appraisals and valutons rather than replacing them.

 

[Overimprovement]

The problem is most people want to think that AI can be viewed like the internet in its infancy. Was it a great tool? Yes. Did it make life easier for many? Yes. Was it used for nefarious purposes? Yes.

"See---It's people that are bad, not the tool"....so goes the common analogy.

But AI is different due to its rapidly progressing self-replication abilities. It is built to adapt, not simply a fixed program. As it gets more and more powerful, with more and more data inputs available to it, do we REALLY think we will be able to control it? So many more THINGS are controlled by computers and tech these days. Are we really that far off from AI determining that humans are a threat to AI's existence, and having AI start causing the eradication of this 'humanity' problem? We nearly all have computers in our vehicle, most news ones with full internet access. Obviously, our phones are fully internet connected. Who (or what) is doing what with all that data? Is Big Brother the government? OR some conglomeration of AI bots formulating a plan for our extinction?

Since 1997 ( a LONG time ago in computer years), a computer has been able to beat the world champion in chess). Today, people cannot come close to beating the best chess computers.

I am not sounding an alarm...yet...but the current level and pace of advancement in AI frankly gives me the willies...

 

[glenn walker]

AI is now being taught to write code. Think appraisers are in bad shape being a coder in 5 years may be worse.

 

[gregb]

We might have to convert to billing by the hour.

Tell me how i can quote a fee to a regular lender client on a property before I see the 97 page RPA, a solar contract that is 120 pages and a title report that includes a legal description with 12 easements?

 

[Non Sequitur]

AI is now being taught to write code. Think appraisers are in bad shape being a coder in 5 years may be worse.

And all of the people who were told “learn to code” years ago when the job market was changing have to be wondering “What the hell is going on?”

 

[George Hatch]

Tell me how i can quote a fee to a regular lender client on a property before I see the 97 page RPA, a solar contract that is 120 pages and a title report that includes a legal description with 12 easements?

Obviously, if you're the only one doing that and all your competitors are just sticking to using a base fee then "bill by the hour" cannot happen. No argument there. I'm just throwing it out there that if the avg degree of complexity expands it's also going to be hard to identify a base fee that will cover the majority of the time-consuming scenarios.