Maryland Commission versus Appraiser Bias

[shrubberyvaluation]

I think a lot of people would like to be appraisers. I think the lifestyle and compensation probably works for most people. Complaining appraisers kind of spoiled if you ask me.

I saw a few trainees quit for cushy government jobs.

 

[Overimprovement]

Yes, I agree. I have had a lot of people over the years ask me. They become almost immediately disinterested when I tell them steps it takes.

I would be VERY interested in seeing statistics on the racial composition of:
1) US population in general
2) Appraisers, by percentage, and
3) Professions with similar educational and experiential requirements

I am getting sick and tired of every MSM outlet screaming bias and systemic racism every time an appraisal comes in lower than what some market participant wants. I bet we will not see the above statistics posted anywhere because they would show that appraising is not any more or less inclusive or exclusive than similar professions.

There is NOTHING stopping ANYONE in this country from becoming an appraiser. If a certain demographic does not want to become an appraiser, ask them why. Stop vilifying those who went through the work, schooling and other requirements. However, I will say that related to this topic is that the government knows how worthless our educational system has become, but they won't admit that because they oversee it. How about some studies into fixing that? Lets give every person in every school in this country the same opportunity to learn. Maybe when everyone actually has the same basic tools with which to work, we might start seeing some positive changes. Sorry, but saying math is racist is not getting that done. There's a deeper core problem at work that everyone wants to tiptoe around.

Why aren't appraisers 50% female? Why aren't appraisers X% Jewish? Why aren't more pro football players white? Why is no one complaining about that? Despite what some on here would have us believe, the average football player makes probably 50 times or more what the average appraiser makes. How about some government studies into the disparities in the professions where REAL money is being made?

 

[Terrel L. Shields]

They become almost immediately disinterested when I tell them steps it takes.

Which is what I am saying...it's easier to do something else.

tired of every MSM outlet screaming bias and systemic racism

Where was systemic racism under Reagan, Bush 1, Clinton, and Bush 2...sure there was some racism but it has basically been the past 5-10 years with the race card was played as a "Trump" card? The Nazi badge didn't wear well when folks figured out National Socialist was the Nazi's and "Fascist" was the name Mussolini took on when the Socialists refused to make him president of that party...so it must be "racism."

 

[sputnam]

Quotas based on anything not relevant to proper completion of the work are complete and utter BS.... but, that is the world we find ourselves in.

 

[Joe Flacco]

Pounding the table that appraisers are not racist isn't going to work.

There are a lot of people that are not happy with appraisers and appraisals. We have to hear them out and come up with some answers.

 

[Joe Flacco]

If it is not racial bias then what could be causing the big differences between appraisals?

This is something we can address. It is pretty obvious to me that it is probably caused by many appraisers not being familiar with the market as they should / could be. That is the logical reason to me based on the licensing data.

The question of why property values in minority communities are lower than white communities is something out of our control. We have no control over that.

We have to separate these two issues in any public communication. The differences between two appraisals on one property and why property values are different in different communities is two completely separate issues.

 

[Carnivore]

Which is what I am saying...it's easier to do something else.

Where was systemic racism under Reagan, Bush 1, Clinton, and Bush 2...sure there was some racism but it has basically been the past 5-10 years with the race card was played as a "Trump" card? The Nazi badge didn't wear well when folks figured out National Socialist was the Nazi's and "Fascist" was the name Mussolini took on when the Socialists refused to make him president of that party...so it must be "racism."

For the same or greater amount of annual Income. I am a Critic of the TAF, specifically the AQB. Wiffle-Wafflers would be a better description.

https://appraisersblogs.com/apprais...-changing-course-on-appraiser-qualifications/

I have ask other professionally licensed people I know about their qualification processes. They all say the same thing; Changes are made and they stay updated with CE or other methods/procedures regulated by the state. What they don't have is instant return to the Start All Over Line if they let their license Laps.
Even these other professions have some controls. BUT what does not happen in the other professions is starting all over from ground Zero!

Example: FAA has pretty stiff and difficult education and experience requirements for being licensed Pilot. Private pilot is fairly easy. Commercial Pilot is very difficult, time consuming and expensive, "Really Expensive" if your just starting out from ground Zero! OTOH if you let your license Lapse, then to Get it Active again takes some time and expense on your part BUT you do not START ALL OVER from ground zero!

Imagine if all of a sudden all the Universities and Community colleges go together and Convinced our Current Markist-Socialist government to make everyone go back through college every ten years!

We have a shortage of Appraisers because the TAF and in part the States interfere with Free Market Activity. If appraisers were free to come in and out of the Market as it dictates then there would never be a shortage of Appraisers. Real Estate Broker Licenses operate like that.

Why not us? Why are we so different?

 

[Carnivore]

Pounding the table that appraisers are not racist isn't going to work.

There are a lot of people that are not happy with appraisers and appraisals. We have to hear them out and come up with some answers.

Yes, but that's not going to happen because we can't fix the Failed Social Policies and Programs of our Government. We have no power to do so.

We have been telling the Government something is wrong. They don't want us to continue proving that. They want us to play along. Which we can not do objectively!

 

[Overimprovement]

If it is not racial bias then what could be causing the big differences between appraisals?

Why do you seem to be automatically concluding that it IS bias? If we ever see proof from independent investigators that an appraiser is being biased, there are ways of dealing with that person short of flushing the entire industry down the drain.

I think that with two appraisals being very far apart, it would be pretty easy to come up with some conclusions if both reports were in front of any panel that INCLUDED actual local appraisers. I have looked at a couple of these reports where bias is alleged, and the subsequent reports that 'fixed' it. Comps on the 'fixed' report are invariably further away. If I were a betting man, I would put my $ on the homeowners/subsequent appraiser being closer to wrong-doing than the original appraiser in MANY, if not most, of these instances.

But that's not the real issue. The real issue is the automatic presumption of guilt pronounced by media outlets, who are salivating at any possible left-leaning story. They have become ambulance chasers, and even worse, are causing some of the accidents needing the ambulance to begin with.

 

[Terrel L. Shields]

Why are we so different?

The purpose of appraiser regulation was to punish appraisers and pretend it wasn't the banksters who were guilty of fraud. How many fines has Wells Fargo paid? If a small community bank did that then the FDIC was seize them and destroy the bank. And banks that committed no fraud, violated no rules at a given time, during the crash were forced to ditch assets and call in loans that were being paid off monthly. Those borrowers were not behind on payments. They simply couldn't come up with the cash to maintain their Loan to Value ratio once their property value dropped. I know one where no one was indicted, no crime committed, and in the end, they not only forced them to sell for a fraction their value, they actually banned the entire board from ever being on a board again. WTF? The fact they didn't have the foresight to see property values falling by 50% or more meant their reserves were depleted. Forbearance and they would have survived. In fact, the new owners have thrived and are adding bank branches and growing like mad. They simply destroyed them because they (the FDIC) could. But W-F and B o A, Chase? They can commit egregious acts of swindling their own customers, create accounts that were not authorized and what happens to them? The cost of doing a crooked business, chump change to continue screwing someone while the government looks the other way.

They broke up the Standard Oil Trust when any of the "too big to fail" banks are 100x the size Standard was.

If it is not racial bias then what could be causing the big differences between appraisals?

A complex property is not easy to value. How it is approached, and how it is valued makes a huge difference in value.

I have an estate appraisal - at least part of it. Someone prepared it and came up with $1.5 million for the portion I am valuing as a sale now. The sale price is $1.7 and it appears to me that it is worth that as a minimum. So who is wrong?....or it is simply a matter of guesswork? After all, it has 2 garages, 2 duplexes, and a 4000 SF home on 19 acres of lakeside property. HOW are you going to be very precise when there is literally no sales truly similar...and the property sold in 2001 for $1.8 million? Much appraisal is more guesswork than we want to admit.