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Mein Comp: The Last Appraiser

bluechip said:
I want to sincerely thank Ann O’Rourke at Appraisal Today for taking the time to read my book and for writing such a thoughtful review. If you’ve been on the fence or haven’t had a chance to read it yet, this is the perfect moment. Ann featured Chapter One in her newsletter. I’m sharing it here today. Start at the beginning and decide for yourself. I’ve only included my portion from her newsletter here. If you’re interested in Ann’s full newsletter and ongoing insights, you can become a paid subscriber to Appraisal Today. Her newsletter is exceptionally insightful, and I’ve thoroughly enjoyed reading many of her past editions.
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Sure, the appraisers are getting screwed over. But, the problem is preventing over-valuation and actually just bad appraisals. Appraisers don't have the tools they need to provide objective and sufficiently accurate appraisals. Fly by seat adjustments are needed for features that are not objectively measured such as condition, quality, functional utility, etc.. Neither TAF, the Appraisal Institute, other appraisal organizations have really provided a cohesive set of a tools with constraints for appraisers.

I have developed the RCA method which provides such tools ( https://doi.org/10.5281/zenodo.14787917 ), but it also requires more work in and consequently more pay. And it requires education - which also costs money. So appraisers are trapped in a corner they can't get out of. And, that's all it is folks. You are not going to get anywhere with your books, your whining and bitching. It won't get you anywhere at all.
 
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RCA said:
Sure, the appraisers are getting screwed over. But, the problem is preventing over-valuation and actually just bad appraisals. Appraisers don't have the tools they need to provide objective and sufficiently accurate appraisals. Fly by seat adjustments are needed for features that are not objectively measured such as condition, quality, functional utility, etc.. Neither TAF, the Appraisal Institute, other appraisal organizations have really provided a cohesive set of a tools with constraints for appraisers.

I have developed the RCA method which provides such tools ( https://doi.org/10.5281/zenodo.14787917 ), but it also requires more work in and consequently more pay. And it requires education - which also costs money. So appraisers are trapped in a corner they can't get out of. And, that's all it is folks. You are not going to get anywhere with your books, your whining and bitching. It won't get you anywhere at all.
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Don't know if you meant to be funny but your comments very funny.
 
RCA the problem is nobody's willing to pay for zero tolerance accuracy for a product that has a 5% risk tolerance built in. You developed a mathematical based appraisal that's not marketable.

Finally until that model and it's methodology is fully accepted by Peer Review and the Money Center Banks and GSEs you have nothing but a worthless product.

Like many engineers you developed a superior product but no way to sell it to the appraisers or lenders.

Your failure was you should have first developed a market before the product and a price point that was affordable.
 
All of a sudden things are piling up, with Grok's predictions and so on and so on. I don't have any hope for most of the appraisers on this forum continuing to apprais for more than another 5 years at the most.

It might be worth it keep the Appraisal License another 2 years, but in California that comes out to about another $1,000/year with courses and all. I really have better things, more productive things to do than GSE appraisals. Certainly Ag would have been my preference if I had to start over in appraisal again. But it's too late for that. Robots ARE coming that's for certain. How long traditional human appraisers last is hard to say: As far as I can see it is a bad bet. Commercial has a while longer. As well as equipment - which in many ways is a new field.

5 years from now? Hmmm.

I am definitely losing interest.

....
 
There has always been talk of computers taking over appraisers. More than 20+ years.
Now we have Grok to tell us.
 
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