AQB's latest dumbing down by 'Stakeholders' Dropping the College Degree Requirement

[CGinMN]

Curiosity is what makes a good appraiser. Logic and reasoning follow. If the stakeholders are serious about wanting quality appraisals, they should fund review boards that all appraisers must pass every 5 years. Appraisers provide a random work sample, and the board can prescribe any outcome they want including temporary suspension, no complex, no commercial, etc. Appraisers would be monetarily incentivized to level up their game. The only required CE should be USPAP.

 

[Joe Flacco]

Curiosity is essential.

 

[George Hatch]

And persistence
And self-motivation

 

[ucbruin]

Curiosity is what makes a good appraiser. Logic and reasoning follow. If the stakeholders are serious about wanting quality appraisals, they should fund review boards that all appraisers must pass every 5 years. Appraisers provide a random work sample, and the board can prescribe any outcome they want including temporary suspension, no complex, no commercial, etc. Appraisers would be monetarily incentivized to level up their game. The only required CE should be USPAP.

If appraisers were truthful....
They would say "hell no" to your suggestion....

Could you just imagine the comments on the AF if the board failed to recertify an appraiser....

 

[alebrewer]

It’s really simple, if you are any profession and don’t want to keep a high standard of entry, then you have an agenda you’re pushing. And it’s usually a financial one. also can be described as a sellout.

Isn't that true the other way around as well, though? IOW - if you are a profession that wants to keep a high standard of entry, then you have an agenda as well. May not be a deceptive agenda (as appears to be the case here), but an agenda nonetheless. As I said before, I don't think degrees make better appraisers - I'm just suspicious of the timing on this one. Best way to get new folks that don't look like old white guys into the biz is to ensure there are no significant barriers to entry.

 

[CGinMN]

If appraisers were truthful....
They would say "hell no" to your suggestion....

Could you just imagine the comments on the AF if the board failed to recertify an appraiser....

I mean, I can understand why you would oppose that.

They are tinkering at the margins with things like PAREA, college degrees, etc. None of it is going to change appraisal quality or attract the right workforce. You have to incentivize getting the right people into the field and continued professional growth.

 

[Joe Flacco]

And persistence
And self-motivation

Also important traits. Curiosity sums it up pretty good though. The need to find the answers to why. If you have to get to the bottom of it then persistence and self motivation comes naturally.

Curiosity is a strong driver of persistence and motivation.

 

[chad hampton]

If appraisers don't know how to come with adjustments, that's a failure of the education portion of licensing.

The supervisory aspect of this profession isn't perfect, but it's not too bad. Better than the alternative.

 

[George Hatch]

I think some of the decision makers are concerned about the appraisers not reacting quickly enough to the changes in the market that might occur if too many appraisers retire/die faster than the survivors will train.

So far it doesn't look like the lenders have even tapped into the "did not inspect" mode of trainee supervision. And it wouldn't surprise me if the implementation AI into an SFR appraiser's bag-of-tricks might completely change the math in the supply/demand.

Inspect your subject and drive your comps, map your market segment and upload to your AI-buddy which proceeds to assemble 95% of the analyses and report writing before you even get back to the office. Spend 10-15 minutes to edit and add commentary and finish off the analyses and reconciliation and it's done. The AI set everything up for you, but what you're sending out are still your opinions and conclusions. And you personally inspected.

 

[George Hatch]

If appraisers don't know how to come with adjustments, that's a failure of the education portion of licensing.

The supervisory aspect of this profession isn't perfect, but it's not too bad. Better than the alternative.

If the education initially conveyed it to the student but the supervisor told them to forget everything they've seen because the supervisor will show them how it's really done then that's on the supervisor. And after a certain point its also on the trainee.

But even after they get their permanent license, if none of their clients have been holding his/her feet to the fire about these adjustments then the lack of practice or consideration over a period of a years will have it's own effect. None of which will be touched by whether or not the appraiser has a degree - in any field of study.

So basically, the current state of "acceptable" is attributable to some of the lenders, the GSEs and some of the appraisers.