AQB Update On Proposed Changes To Appraiser Qualifications

[Mr Rex]

(my bold)

Michael-

It may be better. But should it be an entry-level requirement? I don't think so.


The question I think is, does the concept of requiring a college degree to become a licensed appraiser have merit or not? If so, why? If not, why?

The counter-argument of, "Well if higher is better, and you don't require that, why require anything?" doesn't, IMHO, address the root question.

My answers are: it doesn't necessarily have merit on an individual basis. It does have merit on a group basis.
And, that's why I argue in favor of it.

I can go along with your thought process with the caveat, why is there not a different path to a degree? I have been certified for 13 years, which must suggest some level of competency. Why should I be required to go back to school to develop the requisite skills and knowledge to do the job I am doing? As a pre-snowflake era guy, I am asking for my snowflake deserved degree and I want it now.

Seriously, there should be a experience based path to a degree that is not so onerous and costly as the current one that once again is more about for profit education providers than providing acknowledgement of accumulated knowledge. MHO

 

[hastalavista]

I can go along with your thought process with the caveat, why is there not a different path to a degree? I have been certified for 13 years, which must suggest some level of competency. Why should I be required to go back to school to develop the requisite skills and knowledge to do the job I am doing? As a pre-snowflake era guy, I am asking for my snowflake deserved degree and I want it now.

Seriously, there should be a experience based path to a degree that is not so onerous and costly as the current one that once again is more about for profit education providers than providing acknowledgement of accumulated knowledge. MHO

Not only do I have no problem with that, I would strongly favor and rally-around it as an option for anyone "in".

In the service, we have Warrant Officers (WOs). WOs were highly trained and experienced NCOs who may not have had the requirements (degree) to become an "commissioned" officer, but by virtue of their skill and expertise, were made officers (by "warrant" rather than "commission").
Warrant Officers, when I was in the service, were respected by everyone (Enlisted, NCOs, and Commissioned Officers). I think what you suggest is similar to what the service does with WOs. In our case, however, there wouldn't be a differentiation; the skills-based degree would be the same as the formal-education degree (everyone is "commissioned"!).

 

[Mr Rex]

Lets take it a step further. Is a 4 year college graduate comparable to a non graduate with 4 years of appraisal experience, even after both had the requisite/required appraisal training beyond the 4 years of college or experience? How far is he or she behind? 2,3,4 years maybe?

 

[gregb]

Lets take it a step further. Is a 4 year college graduate comparable to a non graduate with 4 years of appraisal experience, even after both had the requisite/required appraisal training beyond the 4 years of college or experience? How far is he or she behind? 2,3,4 years maybe?

Depends, non graduate may be ahead of the college graduate. A fellow trainee (with a 4 year degree) failed three out of four AI courses when I first started taking AI courses in the early 1990's.

 

[hastalavista]

Lets take it a step further. Is a 4 year college graduate comparable to a non graduate with 4 years of appraisal experience, even after both had the requisite/required appraisal training beyond the 4 years of college or experience? How far is he or she behind? 2,3,4 years maybe?

That's the devil of the details.
But nothing (in my view) that should be a show-stopper.

 

[The Warrior Monk]

If a 4 year degree is good then why isn't another 3-4 years so much better in matters of competency, ethics and whatever feel good descriptors you can find? +/-40% of House members and +/-60% of Senators have Law degrees and are renowned for their lack of ethics, competency, and general fecklessness. Long live the degree requirement, it builds better people!

I'll play devil's advocate. Why not just throw out degrees for all professions.

As an example, why require a degree for doctors? After all, my coaches at my gym have far better success via diet and exercise advice at solving medical issues than actual medical doctors, and they don't need a degree to do it.

Plus, don't we want to go back to 2005, where requirements were essentially nonexistent, and professionalism, ethics, and knowledge were rampant and made appraisers a respected profession in everyone's eyes?

 

[djd09]

This is not an appraiser problem, it is a rule writer problem.

 

[Mr Rex]

The US education system is out dated and needs a major overhaul. Distance education and experience in lieu of classwork would seem reasonable with proper "vetting". Costs should be dropping like a rock as the available on line opportunities grow and the real need for bricks and mortar plummets like well, a brick. The need for a college degree based on the 50s model is beyond buggy whip outdated.

But, picking up on your premise, the last time I was at the physical therapist after an injury, the "Physicians Assistant" was a non degree holder (typical masters required) former Vietnam medic. While I was in the examination room, a "Real" Doctor stopped in and asked him to look at some x-rays that he was unsure of. The PA gave him his opinion and the "Real" Doctor said OK, I just wanted someone with more experience than me to take a look. My sister in law is a RN so I asked her about seeing a PA and not a "Real" doctor. She knew the PA and said he was head and shoulders more knowledgeable than the "Real" Doctors he shared a practice with. Just 1 example.

 

[TRESinc]

Plus, don't we want to go back to 2005, where requirements were essentially nonexistent, and professionalism, ethics, and knowledge were rampant and made appraisers a respected profession in everyone's eyes?

nonexistent? so you are saying that the difference between existing and not is a college degree? in 2005 you still had to amass 2,000-3,000 hours of experience over a minimum of 2 years, still had to take all the classes, still had to submit reports for review and still had to pass the test, which at least in ohio, has a very small pass rate for first time takers.

i guess it's a good thing that by having a college degree one is suddenly more ethical too.

the reason perception changed about us is that appraisers were an easy scapegoat for the rest of the lending industry. we are unorganized and easy to place blame on. going back further than 2005 how many times was a borrower told the loan was not approved due to appraisal issues (when they never received a copy of the report after being declined) when that wasn't the truth and it was based on DTI or credit? it's much easier to blame the appraiser than have the loan officer tell the people they are not qualified - the LO still looks like a good guy who "did everything they could to help the borrower". it was our fault for over-appraising and causing the crash, then it was our fault for under-appraising and holding back the recovery.

damn, we are some very powerful people, huh?

in the time since a degree became an entrance requirement take a wild guess how many borrowers i have spoken with about becoming an appraiser knew there was a degree required? i'll make it easy for you - but both hands into fists, then count the number of fingers you are holding up. the vast majority of people think we are the same thing as an agent or home inspector and a few weekend classes is all it takes to become an appraiser. requiring a college degree has done nothing to change the public's opinion of our profession.

 

[djd09]