Do you foresee the bachelor degree requirement ever going away

[TerryRohrer]

When I go to Appraisal Institute conferences, all the commercial appraisers look very formal wearing suits whereas residentials look casual.
AI wants to uplift the appraisal business as high profession especially with their MAI and SRAs.
Residentials know these certifications don't matter much to them. We're just part of the clog in the lending industry.

I agree, the appraisal industry as a whole needs to take immediate action to remove the appraisers who are clogs in the system. Nothing worse than a backed up sewer line.

 

[George Hatch]

the commercial appraiser does not normally look in crawl spaces or attics.
put your suit on and go for it.....

I guess I can buy a suit just to impress my peers.....

I'm actually coming up on 40yrs in this business later this summer. Most of it as a CG. I started out wearing a button down with tie and leather shoes because I was always getting hassled for my age. For a couple years I did the T-shirt/Dockers, no-sox look during the summer but that just made my looks-too-young problem worse.

I went to business casual at the bank because our offices were on the 11th floor and the retail customers never saw us. And because our bank was in California, not on the East Coast. The culture is different. I went to jeans/button down a few years later and that has been that. I always appraised community-oriented properties, not institutional grade properties so my attire was never a problem.

 

[heidi m sowards]

There is no bachelors degree requirement for res.

there is or was in Washington

 

[Dbittner]

There is no bachelors degree requirement for res.

There is a bachelors degree in Pennsylvania and it is kind of ridiculous that they are taking anyone for data collection and we have to have hours of education every 2 years.

 

[Joe Flacco]

There is a bachelors degree in Pennsylvania and it is kind of ridiculous that they are taking anyone for data collection and we have to have hours of education every 2 years.

No, there is not. You need 30 credits, which is basically two semesters. You can also just take the CLEP exams for 30 credits and not take the class.

Or, you need to have been a licensed appraiser in another state for at least five years.

See link.

Residential Real Estate Appraiser Licensure Snapshot

Residential Real Estate Appraiser Licensure Snapshot

www.pa.gov

 

[sputnam]

I hope it doesn't. I agree that you don't need to have a college degree to be a good at developing an opinion of value. On the other hand, I read appraisal reports everyday that are poorly written.

 

[ucbruin]

Sort of a conundrum for the folks who are anti-college education....

 

[Terrel L. Shields]

again...

If they don't drop the degree requirement, they should at least constrain it to economics, accounting or real estate.

But what about specialists? Forestry. Minerals. Industrials. Water rights. The degree needs to be tailored to the task, or the bank regulators need to rethink where and what the appraisers need to be used. Today, it would be illegal for me to state a value for a mineral estate if I did not have an appraisal license in my state. Never mind the MAI has nary a clue about minerals and at best will base his value upon a report prepared by a petroleum engineer who, once again, has no appraisal training or experience usually.

More college dropouts will become appraisers.

They are morons if they do. This is no country for young folks. The profession is dying. AI is the future.

they are taking anyone for data collection

That's the future for appraisers. Again, AI will actually do the valuations...at least in the residential world.

I read appraisal reports everyday that are poorly written.

Then require an English degree. PS - it's every day not everyday

 

[Airstream]

They don’t require any training, experience or licensing for data collection. They don’t require any training, experience or education requirement for a real estate sales license. Just take the course and pass the test. Boom you are a real estate agent.

I personally think the days of appraisers doing residential forms is coming to a close. I think appraisers will be people that look at the results and determine its legitimacy. Basically the appraiser will be the reviewer of the AI program.

 

[shrubberyvaluation]

They don’t require any training, experience or licensing for data collection. They don’t require any training, experience or education requirement for a real estate sales license. Just take the course and pass the test. Boom you are a real estate agent.

I personally think the days of appraisers doing residential forms is coming to a close. I think appraisers will be people that look at the results and determine its legitimacy. Basically the appraiser will be the reviewer of the AI program.

Now its the opposite. They see the AI as the arbiter of truth and have it check our appraisals.