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4th Exposure Draft Of Proposed Changes To Qualification

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hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
If they want to modify the formal education requirements to something described within this draft, I'm fine with that.

Here is where I have an issue (highlighted):

upload_2017-11-2_7-6-41.png

The proposal is to reduce the experience requirement from 2,000 to 1,000. My personal experience (as a residential appraiser and as someone who has trained many residential appraisers) is that 1,000 hours/12-months is insufficient to learn the practical application of the theories/techniques learned in the Basic Appraisal Education.

The draft makes a distinction between "qualified" and "competent". I'll accept that distinction.
Where the draft paper is in error is in shortening the experience-hour runway from 2,000 to 1,000 hours.
After basic education, a trainee is "qualified" to learn how to apply appraisal theory in the field. Houses in real life rarely line-up with the houses in the text books.
Neighborhoods, submarkets, and markets are, by definition, unique. The physical/legal characteristics of one kind of property can be significantly different than another (PUD, Condo, Attached SFR, Detached SFR... I'm not even going to include 2-4s).
Assignment conditions, the practical application of when an EA or HC may be used and when it should not be used.
Rent surveys and operating income statements (for SFRs... not for 2-4s).
Learning how to properly complete the cost approach on a basic SFR is likely a year-long endeavor.
Functional, external obsolescence; described in the texts but easily missed without exposure to it in the field.
H&BU (need I say more?).

The list goes on, and for many (myself included) the 2,000 experience hours was barely enough time for me to get a handle on these concepts so that I could consider myself "competent" for only the most simple property types.


I had mixed feelings on the formal educational requirement. On the one hand, I thought (and still do) requiring a 4-year degree to obtain a Certified License was appropriate and beneficial to the industry. On the other hand, I don't like unnecessary entry-barriers. Looking at the draft's proposed formal education requirements, I think they struck a reasonable balance.
But the reduction in experience hours- part of the competency component that would reveal if someone didn't get it despite the passing grade in the appraisal class, and give them an opportunity to learn the correct technique and correctly apply it with real life assets- is a mistake.
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Agree Dennis; Experience cannot be captured in hours alone, it would need expanded diversification in the marketplace in which you wish to practice. One of the difficulties for them is the Wide Market Range the wish to make this applicable and therefore, some area's will allow a quicker grasp on the experience level (IE: City Side, diversity within a small area of greater activity; Countryside, wide & diverse, most definitely a longer time to acquire the needed experience).

All in all, I still do not see a College Graduate seeking to enter this Field / Profession, as a small business enterprise, when you have zippy the Reviewer (QC dipstick) seeking the number of wasted hours on trivia and no "Qualification Requirements". It is and will be a stumbling block for this field of work for some time, as it was allowed to Free Fall in a direction that depleted the "Value of an Experienced & Knowledgeable party" to render an Unbiased Opinion in a free market.

(IE: Zippy) had not (1), but (5) readers of the report miss an explicit sentence that answered the QC request in the Original report, apparently they weren't even Qualified to Read. How would my BD prevent that from happening ?? The 6th time was a call to the head of QC, where I could actually feel the steam coming out of his ears thru the phone.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
If they had more hands on work in class doing a real property, vs a textbook dreamy one, with more real time experience in class, the experience time could be cut with equal or better results, but those classes have to be offered at a reasonable cost.
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
All in all, I still do not see a College Graduate seeking to enter this Field / Profession

looks as if they had the same thought by removing the college degree requirement for licensed level and the change to moving from licensed to certified without a degree either.
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
looks as if they had the same thought by removing the college degree requirement for licensed level and the change to moving from licensed to certified without a degree either.

Just curious how many Trainee's you have in Ohio ? How many Licensed ? Your State is huge compered to mine and no I haven't looked at how many we have hear yet.
 
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