Mein Comp: The Last Appraiser

[Terrel L. Shields]

Since I left the secondary market over 10 years ago, I've survived on a lot of non-lender work and the lender work being outside the secondary market. Did an inspection today. Nice sunny day for a drive and the subject is a vacant agri tract. Swung by a restaurant I've not tried previously and tried it out. I can do this Monday or Tuesday. No rush. I can live with it until my license expires in 10 months.

 

[Non Sequitur]

“The psychological toll was devastating. Every assignment became a humiliation, a reminder that twenty-two years of expertise were worth less than desperation. Maria found herself bidding against appraisers who had been in business for months, watching them win assignments in neighborhoods they'd never seen for fees that wouldn't cover her gas.”

I know the book is fiction, but this describes the current AMC-National Firm hybrid system dead on.

 

[Overimprovement]

Have there EVER been 120,000 appraisers at once? Whatever the highest unique number of licenses ever minus what the current unique number of licenses is now....that is the max amount of appraisers that could have been gotten rid of. Is there any support for the 120,000 figure?

Not that I disagree with the premise that big corporations and now AI do want to just end the profession. Been saying that for years and mostly scolded for being chicken little.

 

[Non Sequitur]

We should be able to go to ASC.gov and find out with a click or two, but.......

 

[Non Sequitur]

From the last chapter:

“……..ValuNation Services was offering her a "partnership opportunity" to join their "Appraiser Excellence Program," which promised "enhanced efficiency through AI-assisted valuation technology." The email explained that participating appraisers would use ValuNation's new "SmartAppraise" system, which would pre-populate reports with algorithmic value estimates, comparable sales selections, and standardized narrative language. The appraiser's job would be reduced to verifying the AI's work and adding their electronic signature.

"This exciting innovation will allow you to complete up to twelve appraisals per day while maintaining the highest quality standards," the email promised. "Compensation will be $85 per verified report, with potential for significant volume bonuses." Angela read the email three times, her anger building with each pass. Eighty-five dollars to rubber-stamp an algorithm's opinion. Twelve reports per day, like an assembly line worker stamping widgets. No judgment required, no expertise valued, no professional responsibility recognized. The industry had reached its endgame…..”

Yeah, the old “up to” promise. The AMCs will promise volume but only give it to staff at $25 per report.

 

[J Grant]

“The psychological toll was devastating. Every assignment became a humiliation, a reminder that twenty-two years of expertise were worth less than desperation. Maria found herself bidding against appraisers who had been in business for months, watching them win assignments in neighborhoods they'd never seen for fees that wouldn't cover her gas.”

I know the book is fiction, but this describes the current AMC-National Firm hybrid system dead on.

So far it's a good read - exaggerates a bit, but it describes what happened accurately. I'm about halfway through.
The price point is high for the page count -- I hope the authr considers adjusting the price and releasing it on Kindle Unlimited would see it reach a wider audience.

 

[Mark K]

This would point to appraisers refusing to adopt 3.6

It's too late. Too many appraisers are not in a financial position to try to 'boycott' the system; appraisers should have refused the first UAD data mining form. The sole intent of that form was to collect as much information as possible to be used against the appraisal profession. Appraisers essentially gave them a nice, new rope with which to hang our jobs. 3.6 is nothing more than a lethal injection in the event you survived the hanging.

 

[bluechip]

So far it's a good read - exaggerates a bit, but it describes what happened accurately. I'm about halfway through.
The price point is high for the page count -- I hope the authr considers adjusting the price and releasing it on Kindle Unlimited would see it reach a wider audience.

The book is available on Kindle.

 

[J Grant]

The book is available on Kindle.

I bought it on Kindle. I was referring to a program called Kindle Unlimited, ( which for a monthly subscription fee offers "free books" to read ) - the authors get paid per book downloand, some do quite wel on it and one can always exit the program, what it does is make the book availabe to a wide audeince of kindle unlimted subsrribber s)

 

[OSU Beavers]