AQB Seeking To Lower Appraiser Qualifications

[Non Sequitur]

Just makes the SRA / MAI more important

Not really. There are several orgs (national and international) that are run in transparent and professional ways while the appraisal institute is dying on the vine with merger whispers starting behind the scenes. It's a shame, but millions disappear into a black hole in Chicago with no innovative education or initiatives in years, possibly decades. Don't believe me? Log into the multi-million dollar website and try to put together a package of QE courses that doesn’t involve cross country travel and take close to (or over) a year to complete because many are not on demand. Then log into McKissock which has several on demand packages available at a click. Put yourself into a noob's shoes who is just looking for an opportunity, and ask yourself "If I had a mentor lined up ready to go, which provider is a realistic option?"

 

[Elliott]

Asked Perplexity about SRA membership (since TAI and TAF seem bent on dumbing down the profession):

"The number of SRA members in the Appraisal Institute has declined significantly over the years. In 1990, there were approximately 6,200 SRA members, but this figure has dropped by about 50% since then. By 2024, the number of SRA members was reported to be around 3,100. This decline is attributed to factors such as reduced market recognition for the designation, high membership dues, and changes in requirements that align more closely with state-certified residential appraisers."

 

[sputnam]

It’s going back to pre licensing to a cert means nothing

Had to have an SRA back then

Very shortly after licensing was required in 1991, appraisals came to be seen as commodities. One of the main characteristics of a commodity is that each unit is pretty much just like another unit. Lenders became more concerned about checking all the required boxes in the loan process and less concerned about the qualifications of the appraiser. It's still true... and probably always will be... that some appraisers are better at it. Some are more diligent. Some strive to be professionals. And, some just want the check.

Having a designation is no surety that the appraiser will do better work. It just proof that he/she has slogged through the requirements and has received more training. Some of the worts appraisal reports I've seen were from designated appraisers. But also, some of the best.

 

[Zoe]

NAIFA fought for appraisers and almost went broke doing it. Instead of fighting the system. AI joined it and many members both commercial and residential of AI got upset about it.

Very frustrated members of AI. AI was the black sheep and then joined the system not fighting for appraisers and became the white sheep.

Made many members upset in the process.

 

[Terrel L. Shields]

more concerned about checking all the required boxes in the loan process

Somewhere I had a checklist used by a local bank to verify USPAP compliance. It was a meaningless joke. The various touchstones were only a semblance of compliance. Just another sheet to place in the folder for the bank examiner to glance at and set aside...and check off his/her list.

 

[Zoe]

I have worked with some very good MAIs over the years. The ones I was closest to complained to me which is why I didn't finish out after taking all the classes. They were just not happy with the way things were going and really had no way to do anything about the leadership of the AI. They had been local leaders and just got frustrated with National leadership of the AI.

It is similar to how many professional appraisers are frustrated with national leadership in the appraisal profession at the moment.

 

[Tom D]

I wouldn't be concerned I don't think there is a rush of people trying to become appraisers . Lol

Maybe, foreign appraisers will be the next approved state of appraising. I mean, with AI and super avm, why any experience needed to hit a button.

 

[Tom D]

It is similar to how many professional appraisers are frustrated with national leadership in the appraisal profession at the moment.

As a former SRA, there is no national leadership in the appraisal profession. And there hasn't been since the merger with the society of r.e. appraisers, long ago.

 

[chad hampton]

In my experience, it was easier to find a mtg broker 20 years ago who actually cared about the quality of the appraisals they were getting for their clients than it is today with any of the current "stakeholders". Local brokers worked in their communities, depended on local referrals and their reputation in the community meant everything.

Funny how that works.

 

[Zoe]

As a former SRA, there is no national leadership in the appraisal profession. And there hasn't been since the merger with the society of r.e. appraisers, long ago.

It is there Tom D. I can read what you mean. They are not there to represent the professional appraiser.

They have special interests from lobbyist so to speak.