Appraiser Shortage Myth

[mc1201]

I've been doing this for 23 years- and yes fee adjustments are a part of the business. I've been through all sorts of changes- including the past financial crisis. What you appear to fail to understand is this time is clearly different due to technological changes and new products. Not sure why the hostile tone- but thanks for your input and hope you have a wonderful day.

 

[glenn walker]

I've been doing this for 23 years- and yes fee adjustments are a part of the business. I've been through all sorts of changes- including the past financial crisis. What you appear to fail to understand is this time is clearly different due to technological changes and new products. Not sure why the hostile tone- but thanks for your input and hope you have a wonderful day.

No hostile tone, your angry and mad at the profession, and I understand but that will not change what is happening . I also fully understand where technology is taking us and how it will advance over the next 5 years.
The ones who survive will have to adapt, and or learn new avenues of income. The pure Loan Production Appraiser of the past will have a hard time in many markets. I feel your pain, have been through it but in the need you have to make the decision to stay in the game or get out.

 

[Overimprovement]

The ones who survive will have to adapt, and or learn new avenues of income. The pure Loan Production Appraiser of the past will have a hard time in many markets. I feel your pain, have been through it but in the need you have to make the decision to stay in the game or get out.

I almost liken this to the sport of boxing in essence being replaced by MMA. And boxing did it to themselves with the multiple belts, stupid rules to retain belts, sometimes taking 2 years for a particular bout to come to fruition, etc. There really has never been an appraisal profession, just 80,000 independent appraisers working on islands, depending on so called advocacy groups which never were actually advocating for us. That is abundantly clear now, but it is now too late.

And I agree, the appraisal report in 5 years will be drastically different than what we are doing today, anyone who thinks otherwise is blind. What has been forgotten in all this is the revamped 1004 form, which will usher in even faster the automation of the industry, making massive data mining even easier. What will be left is small percentage of appraisers to feed the machine as it were.

I have 15 years left, and am now, while it is slow, actively mapping out what years 4-15 might look like for me. I do think I will be fine the next 3 years, unless this current slowdown lasts into 2024 (I don't think it will but have been wrong before). Those that can't go a few weeks without good order flow need to be seeking full time employment NOW, before the recession really hits.

 

[glenn walker]

This is a very sensitive subject in the Fake Book Forum one poor guy was eviscerated by the Sharks when he suggested some may have to change their business model.

 

[djd09]

go woke go broke

 

[Overimprovement]

This is a very sensitive subject in the Fake Book Forum one poor guy was eviscerated by the Sharks when he suggested some may have to change their business model.

Which is strange. Appraisers, of all folks, are supposed to be realists. Yes, I will fight for my way of life, but at the same time I know I am no match for the actions of 80,000 other appraisers and government entities. There is no stopping the 'get rid of appraisers' wave. Either move to higher ground, or drown, like you say.

I wonder if the ones saying all will be fine are the exact ones leading the charge to get rid of us?? That would be strange too, the more appraisers that leave the profession now, the easier it will be to program the PAREA skippies that will replace them.

 

[OSU Beavers]

This slow time is why some of us took that free PPP money in 2020. All that info is public so you can see which one of your peers got some and how much they were rewarded in 2020 and 2021. In order to get the second PPP draw in 2021 you had to have made less money in 2020. With lenders throwing work at us asking that they be appraised at any cost, who the heck made less!?! I mean, unless you got really bad COVID you would have had to simply refuse to leave the house.

 

[Tom D]

i've had non AMC clients for a very long time, learned that lesson long ago. they never lower their fees, or shop for lower idiots. you just stop raising your fee till the next upturn. those of you who work for AMC's deserve what is going to happen to your fees in this death market. you supported the AMC's by working for them, and now you can die because they have no loyalty to you. sorry to say that, but i payed a price early on for not doing AMC work.
'

 

[alebrewer]

and being one of the most experienced appraisers in the whole county

Wait - who told you that?...

 

[alebrewer]

This is a very sensitive subject in the Fake Book Forum one poor guy was eviscerated by the Sharks when he suggested some may have to change their business model.

The truth hurts sometimes. Some might even say it cuts like a knife... Of course you're right, though. If the market clearing price for a good or service falls - due to supply or demand either - then producers adjust to the new market clearing price, or are cleared from the market themselves.