Is Uber The AMC Model ? Mit Study Says Uber Drivers Make Less Than Min. Wage

[DTB]

. Appraising is a high skill set hard to get licensed thus there is a limited pool of appraisers . .

I really never got on that high horse. I have a lot of skill sets that are much higher than appraising.
My first driver's license at 16 was more consternating than my Cert Res. was.

Maybe I'm the rare possessor of common sense?

 

[Mark K]

My first driver's license at 16 was more consternating than my Cert Res. was.

Agreed. EVERY test in ANY of my engineering courses was infinitely more difficult than the appraiser's exam.

A license is difficult to obtain only because of the experience requirement and the reluctance on the part of licensed appraisers to train their competition.

 

[J Grant]

Agreed. EVERY test in ANY of my engineering courses was infinitely more difficult than the appraiser's exam.

A license is difficult to obtain only because of the experience requirement and the reluctance on the part of licensed appraisers to train their competition.

That may be true, however , the experience and training is part of it. The comparison is the time/investment to get an appraiser's license vs getting a driver's license. There are aprox 80,000 plus or minus licensed appraisers in the USA, vs how many tens of millions of licensed drivers? Since the comparison was bought up about UBER and appraising. And though some appraisers as we saw here like to downplay their skills ( why? ), it still takes more skill to do an appraisal than to drive from point A to point B .

 

[J Grant]

What level of quality is and isn't acceptable for a lender's use is determined by the lender, their regulators and their investors. As demonstrated by the their actions over time.

Quality is also measured by other standards, such as an appraisal review. How many appraisals found to have substantial errors or problems when reviewed were acceptable to a lender for their use? Every profession has "other" standards of quality aside from client or customer acceptance , or it would not be a profession. A professional is also expected to apply their own standards to the product or service ( in this case an appraisal ).

 

[Mark K]

Not downplaying appraisal skills, just trying to keep them in perspective.

​

 

[George Hatch]

Quality is also measured by other standards, such as an appraisal review. How many appraisals found to have substantial errors or problems when reviewed were acceptable to a lender for their use? Every profession has "other" standards of quality aside from client or customer acceptance , or it would not be a profession. A professional is also expected to apply their own standards to the product or service ( in this case an appraisal ).

Focus. I am not referring to the extent appraisal quality can measured. I am referring explicitly to how the buyers of your services are making their choices. IRL there exists a point of diminishing returns, where adding more doesn't necessarily pay off, particularly in a short term relationship.

I don't have to agree with where these lenders have set their effective acceptability benchmarks in order to understand where they are. And since I know some of you like to conflate acknowledgement with advocacy I'll also cut you off right there and remind you that simply acknowledging the limitation should not be misconstrued as a form of advocating for them.

 

[Joe Flacco]

I really never got on that high horse. I have a lot of skill sets that are much higher than appraising.
My first driver's license at 16 was more consternating than my Cert Res. was.

Maybe I'm the rare possessor of common sense?

In appraisal, common sense definitely seems to be rare.

 

[Joe Flacco]

Focus. I am not referring to the extent appraisal quality can measured. I am referring explicitly to how the buyers of your services are making their choices. IRL there exists a point of diminishing returns, where adding more doesn't necessarily pay off, particularly in a short term relationship.

I don't have to agree with where these lenders have set their effective acceptability benchmarks in order to understand where they are. And since I know some of you like to conflate acknowledgement with advocacy I'll also cut you off right there and remind you that simply acknowledging the limitation should not be misconstrued as a form of advocating for them.

The problem is appraisal has not advanced or made any progress. Stuck in the 90's.

 

[Joe Flacco]

Maybe even took big steps backwards with GSE guidelines being used as rules. GSE guidelines being used as rules is what allows avm's to mimic appraisal fairly easily. A computer model can pump out GSE guideline value. That's why when they run tests they say that AVM values are fairly close to appraisal values.

 

[J Grant]

https://www.pennymacusa.com/blog/online-avm-tools-vs-appraisals

http://purviewforlenders.com/how-an-avm-is-different-from-a-property-appraisal/

A need and use for both products, they are not replacements for each other