College degree?

[bobburnitt]

I don't know about Arkansas, but in Texas there are too many appraisers.

The Texas Real Estate Salesman exam has a 60% failure rate. I guarantee you it is simple, not near hard enough, yet 60% of the people who take it flunk it the first time. Most generally pass sooner or later. What does that prove. To me it says that they are poorly educated in real estate.

What kind of a degree for a real estate appraiser? Duh, try real estate.

The people who don't have degrees are always going to say that a degree is unnecessary. The people that have them (degrees) are generally going to go along with the idea.

Having a lot of experience is great. Having a lot of experience AND a degree, even better.

BB in Texas

 

[Dee Dee]

What kind of a degree for a real estate appraiser? Duh, try real estate.
BB in Texas

Maybe in Texas, but in Colorado that's one of the biggest DUH's there is.
In Colorado you don't go to college to get a degree in real estate. You take courses just like appraisers do. Everybody and their mother holds a real estate license in this state.

 

[bobburnitt]

In Texas there are many so-called "real estate schools". These places are where the majority of real estate licensees get their 'training'. It has become my opinion that some, and maybe most of these schools specialize in exam cramming. They simply teach people how to pass the test.

In Texas, many of the colleges offer real estate programs and degrees. I am acquainted with several people who have masters degrees in real estate.

Are you sure no college has a real estate program in Colorado? If that is true, you can be sure of one thing, if a degree were required, the colleges will develop real estate programs.

I am not trying to knock down anyone because they don't have a degree. Believe me, I know there are many fine appraisers who don't have them (after a gazillion years of experience). The problem is this:It is just like you say "everyone in Colorado has a real estate license. I know that is correct. Colorado requires only 48 hours (according to my book that was published in 1994) of education for a broker license, and of course, no degree. It is too easy in Colorado to get a license. In Texas it requires 900 HOURS of education before you can sit for the broker exam. That is over 18 Times the education of Colorado. You can bet on one thing, everbody in Colorado wouldn't have those licenses if they had been required to have a degree to get them.

And think about this: A guy loses his job at K-Mart. He stops by a real estate school in Texas. He speaks to a "counselor" about opportunities in real estate. The 'counselor' then says " well in Texas it takes 180 hours of education just to get statrted as a real estate salesman (plus 30 hours per year for the next 3 years for a total of 270 hours. Or you can be a broker, requires 900 hours of education (2 years, full time) and a 2 year apprenticeship as a real estate salesman. Or you can be a residential real estate appraiser trainee with NO EDUCATION WHATSOEVER for the first year. The second year you are only required to take 15 hours of USPAP. To be a Residential State Certified Real Estate Appraiser you will only need 120 hours total. Appraiser is the easiest one to get!!!!!!!!

The hardest, and what should be the most important job in real estate, has the easiest license requirements!!!! It is a mind boggling thing as Lonnie Bo Pilgrim says. No wonder real estate appraisers are not respected. No wonder loan 'officers' have a one strike your out policy. If you won't make value, they call another one of the many many appraisers at their disposal, and I do mean DISPOSAL.

If you like the current system of of anybody that becomes recently laid off jumping into real estate appraisal, then go along with the status quo of not requiring a degree. If you want people to pay their dues even before they apprentice as a trainee, require a degree. Believe me, it will weed them out.

BB in Texas

 

[Dee Dee]

Bob,
CU offers real estate classes as well as appraisal classes. To reach the entry level 'associate broker' status 168 classroom hours are required as well as passing the state exam. There are no 'degrees' issued, just three levels of licensing. There are also many schools which offer correspondence courses, and this seems to be the most popular route.

Due to the lack of variety in appraisal classes offered through the University, I'll probably end up getting a real estate license only because those credits apply toward my continuing education. I would MUCH prefer to see a wider range of topics offered specifically for appraisers in my area.
For example, during my two year apprenticeship I was never taught how to do REO's, relocation or vacant land appraisals. It's a big gaping hole in my education that I would love to fill, but finding classes to learn the basics on these topics are practically non-existant in my area.

 

[Caterina Platt]

Dee Dee,

That same lack of specialized courses is a problem in NM as well. We might be able to find these offered if we search the education boards for appraisal organizations. Then you have to be able to spend the $$ and hop on a plane or drive to the location when and if they are offered.

I'm hoping that if this college degree requirement materializes, that it would result in a greater range of offerings. It would almost have to, as you can't fill up 2-4 years of study with the basic courses and USPAP. This is probably the main reason I've decided to back this movement for such a requirement. If we current appraisers had access to a broader range of courses, we'd all be better educated.

As it stands, the greatest demand is for the basic courses and USPAP, so those are the only ones offered on a continual basis. It's not often cost effective to dream up a new course and go in front of all the necessary approval boards when you're not certain the enrollment would even cover the costs of renting the room (if you want to teach independently of an organized school). Was talking with an appraiser friend who also teaches at one of our local tech schools. When developing a course, not only does she have to apply for approval to the state board, but to them as well. She has to 'teach' as a sample in front of each board, then they review all the course work and give her a decision as to whether they'll approve it. The tech school may approve her course, but doesn't necessarily award her the teaching job. May go to someone else. No wonder we have a shortage of classes! :roll:

 

[Dee Dee]

Hi Caterina,
No doubt about it....I'd be the first one in line if there were some good courses offered. Not because I have to in order to maintain my continuing education, but because I WANT to learn more and there's simply not much available. If appraisers had as many course offerings as those offered to realtors I'd be happier than a pig in mud.

BTW...thanks again for the info on REO's. Contacted the local (10 states) FNMA lady and had a good conversation with her. She couldn't give any advice as far as classes are concerned in my area, but said she'd walk me through a few over the phone until I felt comfortable. Faxed all of the required info over to her so hopefully I'll hear something from her soon.

 

[bobburnitt]

Colleges stop offering courses if they don't 'fill'. They don't fill because people are not REQUIRED to take them.

Again if people are required to have this education, then the applicants with the drive to meet the requirements for licensure will be enough to fill the classes. Hopefully there would not be so many people willing to take them that all colleges would offer them. But, as I say, if it is required for licensure, these programs will be developed.

The reason so many colleges have real estate programs in Texas, is that our license requirements are the highest in the nation.

BB in Texas

 

[Will Granger]

A college degree empowers ambition. A Ph. D. without ambition is a lot of money down the terlit. Ambition without a college degree is a blessing.

 

[bobburnitt]

Will,

In Texas, only 120 contact hours of real estate / real estate appraisal education are required to sit for the State Certified Residential Appraiser exam. That is the equivalent of only 2.66 semester length college level courses or approximately 8 college hours. (15 contact hours=1college hour/semester hour). It takes a lot more ambition and drive to obtain a degree than to complete 8 college hours.

I don't know how someone could become a P.H.D. without having a tremendous amount of ambition. They don't hand those things out like they do appraiser certifications and licenses.

BB in Texas

 

[Francois K. Gregoire]

Hi All,

This discussion of the value of a college degree is a healthy one. Many good thoughts and ideas have been expressed. It's important to make them known to the folks making the proposals to change the Appraiser Qualification Criteria, the Appraiser Qualifications Board of The Appraisal Foundation.

Although the comment period for the last Exposure Draft has passed, the AQB will soon present a Re-Exposure with consideration given comments made by interested parties. Please make an effort to let the AQB know what you think about their proposals. Airing ideas here is fine, but putting them under the noses of the Criteria Writers provides a better chance of making a difference.

In case you have not had an opportunity to see it, here is the last comment letter written by the NAR Appraisal Committee to the AQB. Agree or disagree with the ideas expressed within, but please consider the logic.

COMMENT LETTER - CLICK HERE