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Barriers to Entry Appraisal Profession

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Matt McCormick

Thread Starter
Freshman Member
Joined
Nov 9, 2004
Professional Status
Certified Residential Appraiser
State
Oklahoma
While it is a good first step for AF to strengthen the standards as of 01/01/08, until truly stringent barriers to entry are applied to be an appraiser, it is going to be impossible to bring the overall quality of work to an acceptable standard.

IMO, a licensed appraiser should have to have a 4 yr degree and a Cert Gen should have to have either an MAI or similar designation from other recognized organization. Any thoughts?
 
Joined
Aug 16, 2007
Professional Status
Licensed Appraiser
State
Virginia
I suppose you have a four year degree Matt... so YOU are fine and dandy. Hindsight is 20 20...
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Matt,
Some of us argued for that when federal licensing was in the
comment period. The bank/lending types said they were very
fearful of not having enough appraisers. Of course AI went
along because they saw more dollar signs. Apparently lenders were
not as affraid of losing billions of dollars using skippy appraisers.
Reap what you sew?
 

Kevin A. Spellman

Senior Member
Joined
Aug 30, 2003
Professional Status
Certified Residential Appraiser
State
Massachusetts
I have trained well over 30 appraisers here in MA and the best appraisers I have help to get into our industry did not have a college degree. I have never been asked for education credentials, two college degrees. My experience in the Navy made me a better a business-person than my college expereince.
 

Richard Rector

Freshman Member
Joined
Jan 16, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
Having a degree does not make a person ethical and beyond temptation which is what is lacking. Have you read about the increase in cheating in colleges? I would guess many skippys have four year degrees. Many highly educated people are bad eggs. Corrupt doctors, attorneys, politicans, etc. Also, the quality of education has decreased drastically in the past couple of decades. A high school education 20 years ago may be better than a college education today. Dumbing down so kids can be passed along. I only have a high school education but have been certified residental since 1992. I sold real estate for three years then worked for an SRA and MAI for many years before going solo. I am a much better appraiser than a newbie with a four year degree. The system is broken because appraisers are hired based on hitting value, low fees and fast turn around time. As long as these remain the hiring criteria things won't change much. I am very rarely asked about my qualifications, etc. when being hired to do appraisals.
 

Beth Stevens

Sophomore Member
Joined
Jan 14, 2007
Professional Status
Certified Residential Appraiser
State
Washington
I agree with those that state that a college degree is not a representation of one's character and ethics. I would also add that raising standards to enter the business does nothing for getting rid of the jerks we already have.
 

Tony Flora

Freshman Member
Joined
Jul 29, 2005
Professional Status
Appraiser Trainee
State
Florida
Just my opinion of course, but the way I see it Skippies were opportunists and banks were enablers. Education is only part of this puzzle. Banks have knowingly allowed the game to continue, knowing that the moment they ended it, the profits ended with it. Appraisers didn't cause this mess but some were definitely complicit.
 
Joined
Aug 16, 2007
Professional Status
Licensed Appraiser
State
Virginia
Ken.. my first answer was not meant to be mean... I actually agree with you - Heck...extend that down to trainees BUT dear God...30 appraisers trainees you have let loose into this arena...and I sit here wishing I had NEVER taken on the two trainees I brought in. Thank God, one left the biz at the start of declining market..the other is my son and I remind him daily it is time to get out of the biz while he is young. Do all 30 still work with you or are they competing with you?

I have trained well over 30 appraisers here in MA and the best appraisers I have help to get into our industry did not have a college degree. I have never been asked for education credentials, two college degrees. My experience in the Navy made me a better a business-person than my college expereince.
 

Shane Trotta

Sophomore Member
Joined
Feb 18, 2005
Professional Status
Certified Residential Appraiser
State
Connecticut
I think a degree is good for the industry for setting new standards for entry. I also believe there should leaniency for some, ie. people who have been in a similar industry (real estate sales) for a long time and are moving over into this profession.
I don't know why you would need to be an SRA or MAI to get certified, here in CT there is no licensed appraisers; certified or nothing and I like it that way.
 
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