"AI All But Abandoned The Residential Appraiser"

[Mike Kennedy]

http://appraisersblogs.com/AI-ignored-residential-appraiser

 

[Riick]

What I've been saying, but more eloquently.
However, the author has his timing off by a hair.
The AI turned their backs on residential appraisers
as soon as the Society of Real Estate Appraisers merged with them.

Probably a psychological thing, since the two were pretty competitive
with the Society made up primarily of Residential Appraisers who were
very well respected (SRA designation) while the AI was primarily focused
on Commercial (MAI designation).
The Alpha dog gets to lead the pack
The Beta dog always has the same view, the Alpha dog's butt.

Just a little history for those who started in the business during and after the Clinton years.

 

[JTip]

I can't justify spending a grand a year and getting nothing in return (except a write-off).

To me, the AI is nothing more than an education provider, and a good one, but I have to deal with a 20 minute timeshare-style, Join the AI speech at each one.

Easily ignored.

 

[Pittsburgh Pete]

I will certainly pass your observations along to my sister, an SRA and current President of our local AI Chapter. I'm sure she's not even aware she's being marginalized.

 

[DWiley]

I loved some of the comments, especially the ones blaming AI for things the AI has nothing to do with (e.g. The requirement to take the USPAP update every two years). Never let facts get in the way of a good rant. Is the AI also responsible for the current situation in North Korea? I mean, it seems they are responsible for everything else.

 

[Amy Perkins]

I loved some of the comments, especially the ones blaming AI for things the AI has nothing to do with (e.g. The requirement to take the USPAP update every two years). Never let facts get in the way of a good rant. Is the AI also responsible for the current situation in North Korea? I mean, it seems they are responsible for everything else.

I think they went after the commercial guys because they could afford their fees and the MAI means something. AMCs could care less if you have an SRA. However, if they want to last, they should find a reason residential appraisers need them because I think commercial won't always get those high fees or the volume with everything going online.

 

[glenn walker]

Look not here to beat up the AI but the residential appraiser was never really a concern... THE MAI was always and in my opinion still is the Big BIG DOG in the cage and even though I respect the SRA because they do go through a lot of course work and education .. In the lending world it means nothing .. Which is sad -- I have encountered at least two underwriters at major banks in the past year ask me what is a SRA .. I told them SENIOR RESIDENTIAL APPRAISER.. LIKE me 60 plus years old : ) LOL

 

[panappr]

Thanks Glen I guess I'm an SRA as well.... turning 61

 

[djd09]

Who is AI?

Why do they exist?

How do they perform the secret handshake?

 

[The Warrior Monk]

AMCs could care less if you have an SRA.

It depends. If you actually are employed by an AMC, or a lending institution, the designation can matter. If you work as a contractor, it appears to matter in the sense you may receive preference, all other factors (including fee and TT) being equal.

But the issue with designation, or any skill set for that matter, is matching the designation/skill set with the client. Trying to sell something that clients don't really need or are willing to pay for is bad business sense.

However, if they want to last, they should find a reason residential appraisers need them because I think commercial won't always get those high fees or the volume with everything going online.

I personally think the fees associated with maintaining the SRA designation are way to high for the average residential appraiser. It was the nail in the coffin for me. I already have way more work than I can handle, and paying to maintain something that brings me no financial benefit is simply not worth it.