Appraisal Institute Crumbling

[Essexfenwick]

Before licensing, appraisers strived to get the certifications from AI. It was epitome of being the best.
After licensing, lenders could justify getting any licensed appraiser because the state said they're qualified.
I joined AI one year but I didn't see the benefits. The classes are larger in nicer settings and have many bank or assessor appraisers.
AI looked down and never stood up for the residential appraisals.
When I go to the meetings, many are dressed business attire and I feel underdress.
Just like ANSI, did AI had any input? No, AI cared more for commercial appraisers.

The appraisal “ industry “ is far too small to have any impact on government policy. Even the AMA has minimal impact. CPAs and the AICPA has like zero input on anything. The MAI / SRA is the appraisal semi equivalent to the CPA in accounting. One certainly doesn’t need a CPA to do accounting but it is just an extra commitment to the field and sometimes clients require them

 

[glenn walker]

Th AI has been in a downward death spin for over 30 years .

 

[Elliott]

Not like the 'base' of those with license shows 'growth.'



"IBISWorld's analysts constantly monitor the industry impacts of current events in real-time – here is an update of how this industry is likely to be impacted as a result of the global COVID-19 pandemic:
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Revenue in the Real Estate Appraisal industry is forecast to have decreased 2.6% in 2020. Prior to the COVID-19 (coronavirus) pandemic, the industry was forecast to grow 1.6% in the year. For more detail, please see the Current Performance chapter.
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High economic uncertainty amid the coronavirus pandemic has slowed nonresidential construction markets. As a result, demand for industry services has declined notably in 2021. For more detail, please see the Demand Determinants chapter.
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In an effort to continue operations while maintaining social distancing, industry operators have begun conducting remote appraisals. This has cut operating costs, helping to strengthen profitability even though revenue is declining. For more detail, please see the Cost Structure Benchmarks chapter."

Real Estate Appraisal in the US - Market Research Report (2014-2029)

Expert industry market research on the Real Estate Appraisal in the US (2014-2029). Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts.

www.ibisworld.com

 

[TC]

True that, George. But the same could be said of getting a driver's license...so your point on character is mute.

MOOT

 

[Salty]

I am seriously considering not paying my SRA dues, which are due on the 6th I think. As an independent, I get nothing out of it and I feel the dues are too high. The fact that a payment plan is an option is a clear signal dues are too high. I mean if I at least got just one single benefit from it, but I can't think of anything positive I have gained from it in the decade or so I have had it. guess I will have to decide soon. Its a lot of cash to me. The AI updates, plans and happenings are just not relevant to me as a residential appraiser. If dues were cut in half I would definitely keep it and I think more would seriously consider it. But over $1,000/year is a significant enough nut for most residential appraisers who really are not keen on insanely complex work.

 

[Essexfenwick]

I am seriously considering not paying my SRA dues, which are due on the 6th I think. As an independent, I get nothing out of it and I feel the dues are too high. The fact that a payment plan is an option is a clear signal dues are too high. I mean if I at least got just one single benefit from it, but I can't think of anything positive I have gained from it in the decade or so I have had it. guess I will have to decide soon. Its a lot of cash to me. The AI updates, plans and happenings are just not relevant to me as a residential appraiser. If dues were cut in half I would definitely keep it and I think more would seriously consider it. But over $1,000/year is a significant enough nut for most residential appraisers who really are not keen on insanely complex work.

It’s insurance for when/if residential work is drastically reduced and if you want to stay in the business doing more complex/unique/higher paying individual assignments or if you would quit and do something else .

 

[Charles West]

I am seriously considering not paying my SRA dues, which are due on the 6th I think. As an independent, I get nothing out of it and I feel the dues are too high. The fact that a payment plan is an option is a clear signal dues are too high. I mean if I at least got just one single benefit from it, but I can't think of anything positive I have gained from it in the decade or so I have had it. guess I will have to decide soon. Its a lot of cash to me. The AI updates, plans and happenings are just not relevant to me as a residential appraiser. If dues were cut in half I would definitely keep it and I think more would seriously consider it. But over $1,000/year is a significant enough nut for most residential appraisers who really are not keen on insanely complex work.

If you intend to stay in biz I wouldn't let it go, it's too damn hard to get.

 

[john johanides]

As a former rm /SRA dropped them over 20 years ago They refused to do anything for their predominant residential members
The writing was on the wall when they decided to severe ties with NAR and its political power , in some sort of self serving b.s. of
appearing to be totally un biased in their work. They serve no purpose and their demise is well deserved

 

[George Hatch]

Speaking strictly in terms of your business interests, I think the math hinges on the types of clients and the types of assignments the individual wants to service. There are lots of jobs, lots of assignments and lots of clients who won't hesitate to swipe right if an appraiser doesn't have the qualifications they're looking for.

 

[Terrel L. Shields]

The MAI / SRA is the appraisal semi equivalent to the CPA in accounting.

Not really. "Accountants" for most public jobs must be CPAs. Yes, you can prepare taxes as a public accountant for the IRS, but can you audit books? So, but from Wiki (I know not the best source but) "In the United States, the CPA is a license to provide accounting services to the public."

An MAI is not required to provide appraisal services to the public, a state license or certification is.