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Appraisal Institute Controversy

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Hamp says that residential appraisers should consider leaving the AI en masse. He claims that the (GSEs) encourage unethical stakeholders to lie, cheat, and do whatever they can to get rid of appraisers. Go, Hamp! Fast forward to the 5:00 minute mak.

After spending 12 years in assessment, after being a fee appraiser for 15 years before before the last crash caused by the same players, then going back to fee appraisal for the last 7 years, and seeing the same cycle repeat, I'm beginning to think Hamp is my spirit animal. An anonymous article, wow. The whole all white or all black neighborhood thing is bizarre. Makes me wonder where the heck "Anonymous" lives and if he/she/it has been outside in the past 45 years, or if they/them know there are places where cattle outnumber people.
 
Just read a post on another forum by our old moderator. Pretty much explained all the circumstances. The AI always treated res appraisers as stepchildren, but I didn't realize they recently through the SRAs under the bus.
Threw! God that felt good! It took me 15 years to catch a TC spelling error.
 
More press coverage:

"Chance, in an email to me today, said that entangled interests in the regulatory space, non-profit advocacy space and for-profit space is "a situation that is ripe for corruption and self-dealing."

In a Feb. 23 email obtained by me, Former AI CEO Jim Amorin wrote to leaders, expressing his displeasure with the direction Chance was taking, including “negative and damaging statements that she continues to make about me and ‘past leadership.’”"


Well, I guess Amorin must have complaints about me as well. What this article says is partially true: Yes, the AI is "... an ‘old boys club'." There are strict rules in place which are primarily for commercial appraisers. Here is some of the unwritten rules:

1. Learn to do your appraisals like your mentors. Don't deviate, except to improve the quality and follow their prescribed path.
2. Understand that your mentor or your employer will have to take 60-75% of your earned fees for overhead and insurance.
3. Understand you can only rise in your career after some undisclosed number of years that may never come to fruition.
4. Yada, yada, yada.

I could give you plenty of names and examples.

Nonetheless, Cindy Chance does not have stated goals, as far as I am concerned. She wants to replace the old fuddy duddies who are charlatans prancing around in this new age of AI as if they were AI experts. They are mostly fat pigs who get others to do all the work and they take the big bucks to supposedly pay themselves back for all the years of hard work they supposedly put in at low pay. BUT THAT IS USUALLY CRAP. Many of the leaders where given special status from the get go when they entered the profession. They were the "golden children". They were doing very well from the beginning. They largely bypassed all the steps that are required of their new hires.

But, getting back to Cindy Chance, - what exactly is she planning on doing with her degree of Philosophy? She may be a "breath of fresh air" for now. But that is not going to last. I don't see any substance to her. What makes sense is that she is actually going to make things worse. At least that is a BIG possibility.

We would be better off to let the accountants run the AI - because at least they have some idea as to what a real professional standard is. We need real mathematicians, software engineers and statisticians - rather than these ancient fuddie duddies - running things.

So, we are at war. And I can see half-a-dozen fronts.
 
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I think there might be some subconscious racism in accounting... do they pay more taxes than white people but make less.

I have no idea what you are talking about. Tax accounting is by and large hard work. Do you want to work for one of the "Big 4" international accounting firms? You will put in very long hours of rigorous attention to detail:


As for other accounting work - oh it can be so tedious.

There is no racism. Just hard work and somewhat low pay.
 
My RCA method turns appraisal into accounting: Everything in the Sales Grid has to balance to the cent. That is the guaranteed objectivity and precision of the method.
 
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