I am not doing the 3.6 FORM deal

[Zoe]

Any minor increment of ease will be offset by the clients demanding it faster and for possibly lower fees.

Or more pain:: if other fields experience what the appraisal industry is experiencing- the overlords using cheap fee, non-licensed people to "inspect " (since AI and wonder tools are available !) -if that happens in HIS field, I would be interested to see what the man in this video thinks.

The problem is not AI, which can be useful and which can help a true professional. The problem is the snake oil salespeople and techies/low investment folks with nothing at stake, trying to usurp professions for a quick buck

What they don't recognize is that the construction inspection or home inspection business both have finite volume, as appraisal does. Being faster or cheaper, whether on the inspection or the valuation side, will not provide more volume. With the same tools available, the competition will all increase their speed. Since the volume is finite, with more people competing for the volume and lower fees, nobody is going to make much $ going forward -(except for those at the top).

In essence, be careful what you wish for. Inspections might be 15 minutes faster, or offer some increased functionality with software, but now your income is cut in half. Was that a good tradeoff?

I am telling you fed govt should just take it over and take over GSEs and still let state boards exist for competency reasons. Appraisal management companies would be gone. GSEs too. Some could go to work for government. If you look at it, Federal govt and American citizens already bought the other parties out.

The other parties went bankrupt.

 

[alebrewer]

I think the difference is a searchable database by non-principals, which is open to the general public, with perhaps some qualifying restrictions to limit distribution to anybody/everybody.

Still not following, Sandra. Are you saying the GSE's are planning on making CU available to the public? I have not heard that, but again - if they are, why would it matter whether it was 2.6 data or 3.6 data that they're making public? Sorry for the confusion.

 

[Zoe]

This is biggie. If Federal govt took it out of GSE's and appraisal management companies hands, Federal Govt could set C&R with consideration on complexity. State boards could report to a single Federal Govt entity.

 

[alebrewer]

I don't use a phone as a camera but, computers MS and Apple alike are evil. I was cleaning up some files and found some pictures from 2013 in a folder of so-called "deleted" photos that came from me moving my cousin (whom I administered his estate) picture files to my computer. Even despite having put a new computer in service 2 years ago, these old files somehow continued to find their way in the memory of the computer. So, does "recycle" really delete files or not? I don't know.

Oh - there's no doubt that the invention of the internet resulted in Pandora's box being opened WRT data breeches. That wasn't possible before the internet. Now its part of our everyday lives.

 

[Sandra Koutsopoulos]

Still not following, Sandra. Are you saying the GSE's are planning on making CU available to the public? I have not heard that, but again - if they are, why would it matter whether it was 2.6 data or 3.6 data that they're making public? Sorry for the confusion.

The topic was 'monetizing' the info. That means database to me, with access granted by imposing fees. Since 3.6 is all about digitization, monetizing the photos and everything else is likely.

 

[Zoe]

That makes me think about Epstein and his island. You know dang well he had plenty of pictures stored somewhere.

 

[alebrewer]

The topic was 'monetizing' the info. That means database to me, with access granted by imposing fees. Since 3.6 is all about digitization, monetizing the photos and everything else is likely.

I guess anything COULD happen. I haven't heard anyone trying to sell CU data to the general public, and I really doubt that would ever happen. Remember what happened to FNC?

 

[Sandra Koutsopoulos]

That makes me think about Epstein and his island. You know dang well he had plenty of pictures stored somewhere.

Perhaps Epstein was 'monetizing' those incriminating photos for his 'retirement'.

 

[cashcatz]

Right - I understand the argument. I just don't know what is changing WRT photo uploads. They're still jpg's - regardless of whether you're delivering 2.6 or 3.6, right? Any kind of photo recognition AI they could apply to 3.6, they can also apply to 2.6 - or at least it seems to me.

Speaking of... just saw a demo on FB of using AI for a job site inspection. This stuff is pretty wild...

View this content on Instagram

View this content on Instagram

If I whipped up something like this but for appraisal inspections, would anyone be willing to give it a spin? Basic idea is use voice dictation and image classification to map out the details to MISMO/3.6 fields so you could just pull it into your report software and have a lot of the fields prefilled out. There's be no fields or anything to click through, would work like a voice note taking app with the camera assisting. Maybe add LiDar in a later version to sketch out the floor plan, help map out where the photos were taken in the property.

 

[alebrewer]

If I whipped up something like this but for appraisal inspections, would anyone be willing to give it a spin? Basic idea is use voice dictation and image classification to map out the details to MISMO/3.6 fields so you could just pull it into your report software and have a lot of the fields prefilled out. There's be no fields or anything to click through, would work like a voice note taking app with the camera assisting. Maybe add LiDar in a later version to sketch out the floor plan, help map out where the photos were taken in the property.

I think that if you were to put together some kind of inspection app that were to capture the data needed for the new 3.6, and then teamed with one (or more) of the providers to map your app to their 3.6 software - you'd be on to something. Just not sure how much traction you'll get if the app doesn't talk to the 3.6 software.

I built an html dashboard in Formulabot to analyze data sets dropped out of MLS. Price trends, DOM trends, GLA distribution, even a characteristic weighting to 'choose' potential comps (e.g. weighting age, proximity, site size, etc. relative to the subject). It's a really cool tool, but doesn't map over to my forms software, so I'm just copying and pasting stuff. Kinda similar it seems to me.