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FANNIE bonds with AMCs, over your dead low paid body.

Terrel L. Shields said:
The computer is scoring it and, in many cases, the bank hired appraises who were starving out as independent fee appraisers.

The best future for an appraiser, it appears, is as an employee of a bank, an assessor's appraiser, or, alternatively to have a specialty that is outside banking or so rare that banks have to bypass the AMC and find someone qualified. Right now, agricultural appraisers are scarce. I know several poultry farm appraisers who are working in 4 to 7 states simply because there are not enough qualified appraisers in those areas to cover the demand. The same for industrial appraisers or appraisers who value complex properties like truck stops, refineries, golf courses, or airports and hangars.
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Selling real estate is not a bad option if an appraiser would like to do it. Many appraisers hold both sales license and appraiser license.

Passing real estate license to sell real estate is nothing compared to getting certified general appraisal license.

Test for license to sell real estate is like middle school grade compared to CG appraisal license for Senior in high school.
 
Terrel L. Shields said:
On line sales will eventually drive down commissions and reduced the demand for real estate sales.
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On-line access does put the inventory right up front for sure. But a good agent has a lot more to offer than a list of properties.
I held an open house yesterday in a NOD property which was in sad shape despite it's $800,000+ price tag. Lookers were dismayed by the condition of the pool, which looked just right for an alligator bathtub; and of course the rest of the house was also neglected. Anyhow, as I went through the property, I was able to show Buyers how structuring their offer regarding financing could help them keep more $$$ in their pocket instead of using all their cash up front to fix the place the way they would be comfortable. So there is value that agents provide, especially as far as connecting buyer's wants with what is available etc. I suspect commissions will be slightly lower, perhaps typically 4% rather than higher, but as prices continue to rise, real estate brokerage offers a better chance at keeping up financially than appraising, which AI & AMCs have crushed.
 
chad hampton said:
Yeah, I hate to say it, but I think this profession is pretty much over. The time to fight this was 7-8 years ago when these creatures were slimeballing their way around appraisal boards all over the country, making threats and explaining why things that were considered appraisal services since the beginning of time no longer should be considered appraisal services and can be done by anyone.

I tried, but for some reason, the appraisal Institute national didn’t care (the state guys did, but when national shows up the state guys just keep quiet), revaa guys were spearheading the process, and for some reason the state appraisal boards are pretty much just political appointees, adding another line to their resume. they seem to be impressed when a guy in a suit gets flown across the country to address them. One time we even bent over backwards so we could patch one of these shysters in on a conference call. The rest of us had to take a day off of work with no pay. If I were sitting on an appraisal board, I would’ve thrown their *** out of the chamber. We had a few guys on the board back then that seemed to give a damn and fought the insanity, but the appraisal board is now mostly owned by bankers and AMCs.

It’s quite a change from 10 plus years ago when the North Carolina appraisal board was considered one of the best boards in the country. Now they are a weak, feckless, board.
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You're delusional if you think there was some lawful way several years back to win a legal appeal in front of a judge. That "throw them out" never had a chance.
  • Board issues a feelz-first administrative ruling based on their intuition, similar to "I can't define it but I know a bad appraisal when I see one"
  • respondent appeals that ruling, as is their right per the regulations as written
  • Case gets argued by both sides - not just one side - in front of a judge. Both sides go for what they know
  • Judge rules based on how the law is actually written because they have no discretion to rule otherwise

If you want to say the AMCs threatened to sue all that means is that they informed the board that the board was making a mistake and if it followed through they were going to exercise their legal alternatives and let the courts decide it. That the board reconsidered its actions is self-explanatory as to how they saw that case going. They didn't give up because they wanted to or because they were afraid the AMCs have deep pockets or because they were bribed to quit. They gave up because they were given a hint as to how their opposition was going to argue that case and their state atty probably informed them of the likely outcome.

It's that pesky rule of law thing that sent the NCAB to the showers. It's the same reason that type of case is DOA today. Not because something new happened back then but because nothing new happened other than the feds' official interpretation of C&R.
 
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Sandra Koutsopoulos said:
On-line access does put the inventory right up front for sure. But a good agent has a lot more to offer than a list of properties.
I held an open house yesterday in a NOD property which was in sad shape despite it's $800,000+ price tag. Lookers were dismayed by the condition of the pool, which looked just right for an alligator bathtub; and of course the rest of the house was also neglected. Anyhow, as I went through the property, I was able to show Buyers how structuring their offer regarding financing could help them keep more $$$ in their pocket instead of using all their cash up front to fix the place the way they would be comfortable. So there is value that agents provide, especially as far as connecting buyer's wants with what is available etc. I suspect commissions will be slightly lower, perhaps typically 4% rather than higher, but as prices continue to rise, real estate brokerage offers a better chance at keeping up financially than appraising, which AI & AMCs have crushed.
Click to expand...
hinking of selling your house and wondering what an estate agent will cost you? In the UK, estate agents typically charge a commission of 0.75% to 3% plus VAT, based on the final sale price.​
​
That could mean £2,250 to £9,000 on a £300,000 home. But costs vary depending on whether you choose a high street or online agent, your property’s location, and the services you need.​

propertyrescue.co.uk

How Much Do Estate Agents Charge for Selling a House? (UK) - Property Rescue

Thinking of selling your house and wondering what an estate agent will cost you? In the UK, estate agents typically charge a commission of 0.75% to 3% plus VAT, based on the final sale price. That could mean £2,250 to £9,000 on a £300,000 home. But costs vary depending on whether you choose a...
propertyrescue.co.uk propertyrescue.co.uk
 
George Hatch said:
If you want to say the AMCs threatened to sue all that means is that they informed the board that the board was making a mistake and if it followed through they were going to exercise their legal alternatives and let the courts decide it. That the board reconsidered its actions is self-explanatory as to how they saw that case going. They didn't give up because they wanted to or because they were afraid the AMCs have deep pockets or because they were bribed to quit. They gave up because they were given a hint as to how their opposition was going to argue that case and their state atty probably informed them of the likely outcome.

It's that pesky rule of law thing that sent the NCAB to the showers. It's the same reason that type of case is DOA today. Not because something new happened back then but because nothing new happened other than the feds' official interpretation of C&R.
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You really think that’s how the legal system works? Do you think one attorney on appraisal board that isn’t even devoted to the board full-time has any interest in fighting a team of lawyers being funded by hedge funds? Threats and money win in court, not much else matters.

Also, let’s not kid ourselves, these are state government attorneys. A well funded private law firm will eat them alive. It doesn’t matter what position they take.

It wasn’t a difficult decision, they rolled the dice That appraisers are too disorganized to ever sue, but when a suit gets flown in from across the country and basically threatens a lawsuit should they attempt to enforce state appraisal laws, they take that more seriously. It’s an easy choice for them. I get it.
 
remember when coester was part of revaa...i couldn't stop laughing :rof:
 
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