Mein Comp: The Last Appraiser

[Fernando]

View attachment 103180

And let the cheaper labor but smart Indians code and perfect AI.
Then AI will replace the Indians.
Same ole business plan.

 

[Sandra Koutsopoulos]

At this rate, we are slipping from Human-in-Charge, to Human-in-Compliance-with-the-software, to AI "Pet". I wonder what the pay grade is for that.

 

[Fernando]

At this rate, we are slipping from Human-in-Charge, to Human-in-Compliance-with-the-software, to AI "Pet". I wonder what the pay grade is for that.

AI can help us with the appraisal report. It can write comments which can sound believable.
What's the difference with students asking AI to write their papers if students don't do own analysis.
Reviewers will have extra work to determine if reports by skippy appraisals were generated by AI and if accurate.

 

[RCA]

FOR IMMEDIATE RELEASE!!!

120,000 Real Estate Appraisers. Gone.

Not by accident. Not by technology. By design.

Mein Comp: The Last Appraiser rips open the story no one wanted to tell. How 120,000 real estate appraisers were erased and why your profession could be next.

It is sharp. It is fast. It is fact disguised as fiction. And it will make you angry.

“This is how a profession dies in America, when independence threatens profit,” says David Samnick, author of Mein Comp: The Last Appraiser.

Algorithms did not replace appraisers. Corporations did. And the playbook is already being used on teachers, doctors, lawyers, and countless others.

Read it now before they come for your job.

Available on Amazon here: https://www.amazon.com/dp/B0FPXQ5SSR?tag=realestatappraat

Media Contact
David Samnick
770-886-4627
meincomp01@gmail.com

Honestly. - and I know you hate to hear this. But the AMCs were created as a firewall between appraisers and lenders, because lenders, via Chief Appraisers, were very successful in getting appraiers to "hit the number." The Chief Appraisers were really the ones pushing appraisers to do the hitting. The Chief Appraisers were to blame. They are still here today.

• Chief Appraisers were often the decision-makers who approved the shift toward using an AMC, particularly at mid-sized banks.
• Many early policies were written with input from Chief Appraisers, since they were responsible for ensuring that appraisal ordering was compliant.
• However, the business structures of AMCs were almost always designed and capitalized by financial service companies, not the Chief Appraisers themselves.

The Appraisal Leadership was and still is to blame for demise of the profession. And, they were also the ones who selected the weak-willed trainees with no backbone to do the dirty work.

It's still the same today, as it always has been.

And, yes, you might guess, the current appraisal infrastructure will not last for much longer, once someone figures out how to make advanced objective appraisal and inspection methods far more efficient. That is probably a long ways off - as the entire system has to be gutted and updated. It will probably happen in the 30's.

 

[Sandra Koutsopoulos]

So if virtually all "appraisal reports" become AI generated, the logical bottom line is: Where is the benefit? Will lending be safer, more profitable? Will real estate pricing be more accurate? Will foreclosures be fewer? If a property is supremely upgraded, or a tumble-down wreck, will AI make the correct valuation adjustments after it "views" the drone footage of the interior & exterior of the property?

 

[Fernando]

So if virtually all "appraisal reports" become AI generated, the logical bottom line is: Where is the benefit? Will lending be safer, more profitable? Will real estate pricing be more accurate? Will foreclosures be fewer? If a property is supremely upgraded, or a tumble-down wreck, will AI make the correct valuation adjustments after it "views" the drone footage of the interior & exterior of the property?

Since AI supposedly not bias and look at Stats, they will be more "conservative" in disqualifying "high risk" borrowers who generally are poorer.
And high crime areas are riskier and thus higher rates to borrow in those areas.
AI as derived from the statistics will make the decisions and won't be considered "equitable" to the masses.

 

[Dublin ohio]

Since AI supposedly not bias and look at Stats, they will be more "conservative" in disqualifying "high risk" borrowers who generally are poorer.
And high crime areas are riskier and thus higher rates to borrow in those areas.
AI as derived from the statistics will make the decisions and won't be considered "equitable" to the masses.

Kamala couldn't have said it better. Whatever it means

 

[Essexfenwick]

AI is a faster/cheaper infinitely more efficient scapegoat. There is no way it will be instructed to be unbiasedly accurate. True accuracy regarding the financial industry and worldwide framework would be like making it drink liquid draino. True accuracy inflicted in any area of the financial system no matter how small would be like the acid from Alien blood contagion that drips through 20 levels of metal and concrete financial obfuscation, stonewalling and universally agreed upon political feelings based matrix at war with mother nature, common sense and reality.

 

[bluechip]

AI is a faster/cheaper infinitely more efficient scapegoat. There is no way it will be instructed to be unbiasedly accurate. True accuracy regarding the financial industry and worldwide framework would be like making it drink liquid draino. True accuracy inflicted in any area of the financial system no matter how small would be like the acid from Alien blood contagion that drips through 20 levels of metal and concrete financial obfuscation, stonewalling and universally agreed upon political feelings based matrix at war with mother nature, common sense and reality.

You nailed the metaphor. That is exactly why I wrote Mein Comp: The Last Appraiser. AI is not being used as a tool for truth or accuracy. It is being packaged as a scapegoat to justify removing independent voices from the process. Real accuracy in valuation whether it is property or broader financial systems threatens the very structure that profits from distortion.

The industry does not want acid on the metal. It wants a shiny coat of paint over cracks that are decades deep. Appraisers have always been inconvenient because we are not supposed to bend. The book makes the case that what is happening to us is not about technology at all. It is about control compliance and clearing the way for profit without interference.

This is why the story matters and why the book is a warning not just for appraisers but for anyone whose independence stands in the way of profit.

I am counting on you here on this forum to help share what I have written. Today it is our profession. Tomorrow it could be your children’s future. It is up to us to expose the harm before it spreads further and hurts others. If you read the book and found value in it I would truly appreciate an honest review on Amazon. Your feedback not only helps others decide if the story is worth their time but also strengthens our ability to shine a light on what is happening to this profession and beyond.

 

[Mark K]

I am counting on you here on this forum to help share what I have written. Today it is our profession. Tomorrow it could be your children’s future. It is up to us to expose the harm before it spreads further and hurts others.

The genie is out of the bottle; there's no way to put it back in.

My cousin is a PhD Computer Science Prof. at UC Berkeley. He is one of the guys writing the chip-level code/systems and the books for AI. From what he tells me, we (working humans) should be VERY concerned. I believe him.

Within a few short years, probably 80% of the residential real estate appraisals will be easy to quantify to an accuracy level sufficient for F/F via AI. Human appraisers will be used for the other 20%...for a few more years.