Be the Driver, rather than just a passenger of your appraisal practice

[Jacob Coleman]

I recently connected with a Certified General Appraiser in Michigan. He said that you could be a "passenger" of your appraisal practice just waiting passively for things to happen, OR you could be the "driver" taking over the control and continue making your business competitive.

He provided many insightful ideas on how to remain competitive in the appraisal industry. He talked about the extra steps to take when writing an appraisal report, where to make connections for referral works, and the classes and associations he would recommend joining.

He also shared a list of industry Podcasts that he follows.

I included all of them in this post and thought would be good to share here.

https://realestatecareerhq.com/appraisers-competitive/

 

[RustyTapeMeasure]

I recently connected with a Certified General Appraiser in Michigan. He said that you could be a "passenger" of your appraisal practice just waiting passively for things to happen, OR you could be the "driver" taking over the control and continue making your business competitive.

He provided many insightful ideas on how to remain competitive in the appraisal industry. He talked about the extra steps to take when writing an appraisal report, where to make connections for referral works, and the classes and associations he would recommend joining.

He also shared a list of industry Podcasts that he follows.

I included all of them in this post and thought would be good to share here.

https://realestatecareerhq.com/appraisers-competitive/

That is great and all but a passenger/driver pep talk and suggestions don't help if you are a typewriter store selling and repairing them. There is only so much work. Res appraising is a done deal for a large majority of the appraisers left who survived the last die off in 2008-2010. This is permanent with the 50-60% waivers on all loans, the hybrid, desktop push and greatly reduced fees yet carrying the same 100% liability, the whole race thing, AMC's , refi market gone for many many years. There will obviously be jobs and work for commercial appraisers and some residential but a tiny fraction moving forward permanently. So over the next 1-5 years appraisers will tap out for retirement or changing careers are various personal decision point junctures. Commercial may do ok. Residential is toast. Are you an appraiser or a writer trying to drive viewership to articles and clicks ?

 

[RustyTapeMeasure]

I investigated for myself...."(**) Disclosure: This post may contain affiliate links, meaning our company, JCHQ Publishing will get a commission if you decide to make a purchase through the links, but at no additional cost to you."

Its great you aggregated some sight for appraisers to learn of or frequent and I am sure it will help some.

 

[Elliott]

I only did half the items on the list and it worked out fine. Pal-sings up with lots of local people is a two edge sword.

 

[DWiley]

This is permanent with the 50-60% waivers on all loans...

Source?

 

[GWISC]

Source?

Dennis, I am not sure how many loans qualify for waivers, but I am truly curious. I suspect you have an idea as to the percentage and am hoping you could shed some light. Right now, it is just a slow, or a dry season. I personally do not think there is that high of a percentage of loans getting waivers, but I really don't know.

Also, I would be curious as to what you think the future is with hybrid appraisals and desktops and what you think of them personally as I know you are familiar with the movers and shakers within Fannie/Freddie.

 

[Joe Flacco]

The UCDP submissions he posted somewhere show that the number of submissions today is similar to 2018 or 2019. I am not sure but a lot of the UCDP submissions today might be the desktops. The desktops could be taking a big chunk of orders.

 

[George Hatch]

Dennis, I am not sure how many loans qualify for waivers, but I am truly curious. I suspect you have an idea as to the percentage and am hoping you could shed some light. Right now, it is just a slow, or a dry season. I personally do not think there is that high of a percentage of loans getting waivers, but I really don't know.

Also, I would be curious as to what you think the future is with hybrid appraisals and desktops and what you think of them personally as I know you are familiar with the movers and shakers within Fannie/Freddie.

We know they're spending a lot of time/effort/money to revamp their appraisal report formats. That's not something they'd be doing if they were planning on ditching appraisers any time soon.

 

[ucbruin]

Since the late '80's....
I've said their will probably always be a need for appraisers....
But not at the fees that appraisers want....

 

[Terrel L. Shields]

don't help if you are a typewriter store selling and repairing them. There is only so much work.

I knew a typewriter repairman - one of my classmates and an underclassman. The latter was a specialist on Selectrics. He made the rounds of the local high schools maintaining theirs. The classmate ran a small office supply and sold as well as serviced typewriters. Boy that went south fast. I wouldn't know who or where to go to get a typewriter fixed.

Only specialization makes more dependable money. The mortgage racket is just that - varies with mortgage rates and demand for houses. There are a lot of appraisals that don't get done for the lack of finding anyone to do it. That results in valuations that are not based on a certified appraiser rather on the statement of an owner, a BPO (in my state brokers can do estate valuations), an expert, engineer, or non-licensed appraiser (think planes, machinery, timberland, RV parks, etc.)