How many actually believe 3.6 will be fully implemented this year?

[Carnivore]

Zoe said: If you had 2 trainees, you could do both single family and commercial I agree

Problem is due to fee compression caused by the AMC Peeps are not entering the profession. To make matters worse Currently many our leaving /not renewing licenses. It is coming to a crisis. So this is not about you. I am speaking to the general population in the usa

 

[shrubberyvaluation]

No, but they will blame you for it though.

Yea, they will claim they made a great product to help appraisers and they just don't want to modernize.

 

[Essexfenwick]

Data is king In the age of AI it sure is going to get rough for res appraisers. I might be inclined to say even the CG population may be threatened also.

So you CG's tell us why AI cant replace you? or maybe why it will help you save time and allow you to be more efficient thus able to accept more assignments. I do know that some CG's do a mix of res props and commercial for economic reasons. So if your res assignments Ggo to zero . How will you make up for that loss of res work?

I realize I am mixing topics . But it all is tied together

I drove by a old dingy commercial highrise in a midsize downtown suburb and always wondered what tenents would use it.

I asked Google AI to give me a detailed appraisal and value. 5 seconds. It was shockingly good. If data centers can't produce a real estate appraisal then there's going to be a massive stock market collapse.

My prediction is the coming 3.6 disfunction will be quickly blamed on appraisers and
1.) an excuse to quickly expand waivers and auto valuation.
2.) order highly targeted data collection on a statistical bare minimum of sales.
3) give option for lender to order human appraiser 3.6 for a auto valuation that comes in low.

AMCs and clients will quickly locate reliable value pushing appraisers for low waiver value jobs.

 

[Carnivore]

I got thinking about this AI thing There is an AVM company that uses AI. Here is where it could get real bad for res appraisers

What if the AIAVM incorporated Google Earth!

Google Earth

earth.google.com

but then again appraiser doing a desktop and uses google earth

 

[Vermonter]

My turn times on commercial would be 2-4 weeks typically. The turn times vs single family residential don't rhyme.

Only do residential and none of my local clients send requests with less than 2 weeks turn around. Statistically the average has been around 3 weeks for the past 20+ years.

Highly doubt 3.6 will be delayed at all. They will keep the timeline and work out the kinks later.

 

[Carnivore]

There is more. With AI it will replace ALL AMC's ALL there is nothing an AMC does that AI cant do

AI will look over your report andsays to you good job your money has been deposited in yourbank accountt

I donnt see AI as a threat to CG's their just to diverse. I do see AI maybe making a CG more efficient

 

[Bobby Bucks]

Highly doubt 3.6 will be delayed at all. They will keep the timeline and work out the kinks later.

It wouldn’t surprise me to see those sneaky SOBs ordering 3.6s initially with 2 week turn times while they continue to blame the appraiser for slow turn times. I’m sure the sneaky SOB simps who hang out here 24/7 will applaud and grandstand as usual.

 

[Essexfenwick]

There is more. With AI it will replace ALL AMC's ALL there is nothing an AMC does that AI cant do

AI will look over your report andsays to you good job your money has been deposited in yourbank accountt

I donnt see AI as a threat to CG's their just to diverse. I do see AI maybe making a CG more efficient

AI just needs the data.
It can easily outperform humans in the commercial appraisal area in a macro lending function. Just like residential.. private or legal one timers will still be more customized for a little while

 

[George Hatch]

"Just needs the data" is the same problem that takes up so much of our time and effort on a lot of these assignments. Some market segments are well covered in the various databases, others are poorly covered. I agree that AI will catch up in the CG assignments over time, but it won't be right away due to the limitations in data quantity and quality on that side of the house.

 

[ilsindaco2628]

I sincerely hope it gets delayed again or flat out cancelled. I just completed my 6th.
What should have been one of the easiest reports I've ever done... an updated cape COD under contract for 590k with three matched pair comps all closed at 590k in the last 6 months... just took an additional hour to complete because of a UAD "validation failed" error with no description on what the issue was. 40 minutes on hold with alamode because of a high volume of calls... then 20 minutes to fix it.

It's absolutely insane how unprepared everyone is for this.