Any Suggestions On How To Find A Mentor?

[bnmappraisal]

Of course that leads to a secondary issue, what you are all doing is essentially limiting supply to price fix.

Not sure how you got to that thought process but would be interested to hear your thoughts on why you think so

 

[bnmappraisal]

That’s just the beginning though because at this point I have a purpose that goes way beyond just becoming a licensed and certified appraiser. ...

THIS I'd REALLY like to know your thoughts

 

[WillWorkForTraining]

Hi bnm, thanks for chiming in. I’ve attached a snip from the FTC website. My thoughts are that the standards were set to give current appraisers an opportunity to work together to limit supply, and basically that’s exactly whats going on. By setting the requirement but then not giving licensees an incentive to train (such as a minimum number of mentoring hours required for renewal), they have essentially delivered a method of price fixing.
Your thoughts?

 

[bnmappraisal]

I'm not an attorney and will not address your attached file specifically. That being said ...

I will say, at least in my area (Tampa Bay) there are plenty of appraisers and therefore plenty of different prices for appraisal services. My base fee is lower than the VA panel fee, but higher than the "volume guarantee" fee I got several years ago. I also have a few clients who know my base fee, however choose to pay well above it! I also quote many properties per year on a case by case basis due to complexity (waterfront, larger GLA, site size, ADU's, etc)

 

[Bob Ipock]

Not sure how you got to that thought process but would be interested to hear your thoughts on why you think so

What limits the supply of appraisers is simply the volume of work available. If an appraiser has way more work than they can handle then they either hire another appraiser of take on a trainee. If an appraiser has only enough work for him/her then they can't take on a trainee. There is an failure to understand how the appraisal business operates. Appraisers have no control over the economy, interest rates, unemployment etc.. Sometimes there is money in the bank and sometimes not. We have good years and bad years. Heck we have good weeks and bad weeks. I don't know any appraiser who are trying restrict others from entering this field. All you can do is lay out the facts to someone considering the appraisal field. . Some will pay attention and some believe they already know it all.
This young fellow is misrepresenting himself as an appraiser trainee when he has not finished the class work nor registered with the state. That does not show the type of honesty and character expected from an appraiser. Reminds me a lot of Trump. Blames everything on somebody else.

 

[bnmappraisal]

My thoughts are that the standards were set to give current appraisers an opportunity to work together to limit supply,

I definitely disagree with this statement 100%

I know multiple appraisers in my area and, yes, we have talked about fees for certain properties before...but to be honest, their fee is not always the same as what I would charge (and vice versa). And my base isn't the same as theirs

At the end of the day, it's a business decision

 

[Bob Ipock]

I'm not an attorney and will not address your attached file specifically. That being said ...

I will say, at least in my area (Tampa Bay) there are plenty of appraisers and therefore plenty of different prices for appraisal services. My base fee is lower than the VA panel fee, but higher than the "volume guarantee" fee I got several years ago. I also have a few clients who know my base fee, however choose to pay well above it! I also quote many properties per year on a case by case basis due to complexity (waterfront, larger GLA, site size, ADU's, etc)

What? The AQB has greatly REDUCED the educational requirements to become an appraiser! It is easier now than it has been in over 10 years!. Easier than ever to get in but you still have to find a supervisor that NEEDS HELP and has enough money to PAY the TRAINEE.

 

[bnmappraisal]

I don't know any appraiser who are trying restrict others from entering this field.

I think worth repeating

 

[WillWorkForTraining]

And bnm I am not either. This is not an accusation toward yourself specifically. This is about the general attitude of the industry to limit supply/competition and it’s driven by the industry standards setting but participated in by most, regardless of whether you realize it or not. Think of the absurdity applied to a different industry:

Let’s say I wanted to open a restaurant, but in order to get a heath department license required to open, I had to obtain 1000 hours of mentorship from a competing restaurant. That would strictly limit competition, options for customers, not to mention creativity severely limiting the growth of what’s possible within restaurants. In other words If these standards were still in place in the 80s, there would only be options that were available circa 1980s. Olive Gardens and Chilli’s everywhere. No quick casual concepts, wouldn’t even exist.

You see, it’s a short term limiting perspective, not to mention essentially hurting the consumer with limiting competition. Maybe there is somebody that comes in with some better process innovations or just a different perspective on valuation in general, an algorithm for example.....who knows.

By doing this not only are appraisers hurting competition, but you are limiting what’s possible in your industry.

 

[WillWorkForTraining]

I think worth repeating

If you read the snip from the FTC, you don’t have to agree upon a price if you agree upon limiting supply...