My prediction on 3.6

[Terrel L. Shields]

you train for form fill,

And who rememberrs "Form Fill" the appraisal software company?

In the 1990s, Form Fill was a popular, early DOS-based real estate appraisal software, but it was largely left behind as the industry shifted to Windows. It struggled to compete with rivals who developed comprehensive, Windows-based report management suites and eventually faded from the market.​

​

The one legacy we have of the company is the simple fact we use that term to this day - Form Fill

 

[Terrel L. Shields]

There is nothing wrong with using AI.

Tell that to the lawyers being sanctioned for submitting court filings that were AI written. One of the main sins was the fact some of the "citations" lawyers used were entirely made up by AI. Apparently, it read examples, works of fiction or textbook made up examples as "true" citations.

 

[Surf Cat]

I think some people are paid by how many times they use the word "data" in their daily conversations. My god. Listened for 15 min and heard no substance whatsoever.

Okay.... I made it through the entire video. What I heard was a big infomercial for True tracks in that will solve all your woes.

Highest and best use - check, no worries. It takes a lot to impress the new COO
(the blonde girl) and she's impressed. Due to the AI being used in this program, you will not have to go to any other program. You'll be comfortable signing off with no worries. Your licensure is safe using true tracks AI. Using true tracks will not cause any issues from the lender's perspective. You no longer have to use multiple monitors as everything is right there.

Easy peasy Japanesey.....

 

[NC Appraising]

Tell that to the lawyers being sanctioned for submitting court filings that were AI written. One of the main sins was the fact some of the "citations" lawyers used were entirely made up by AI. Apparently, it read examples, works of fiction or textbook made up examples as "true" citations.

Doctors are using AI to find cancer cells....https://news.harvard.edu/gazette/story/2024/09/new-AI-tool-can-diagnose-cancer-guide-treatment-predict-patient-survival/

I bet there doctor's are not just saying alright AI says you have cancer...its a tool and I 100% bet they are verifying....

 

[Bobby Bucks]

Yeah, but RCA says none of us are smart enough to become proficient.

I'll bet 3.6 would be working far better than it is if they had hired RCA as a consultant. He may not be modest, but he is competent. I'm convinced the alphabet soup people went to a career day computer geek Woodstock and hired the 10 most stoned individuals they could find and promised them free weed and Wifi for life if they could make a 1004 fit into 3.6.

 

[Alsie35]

Funny ... it's almost like the GSE's are telling appraisers:

"Hey, it's not OUR fault if no software provider can come up with an option that can make this 3.6 Abomination Nightmare palatable for the end user*. We just came up with the (insane) specs for it. If no one can make it work, hey - it's not OUR fault."

* BTW - The Real End User is the APPRAISER

There's a saying for this kind of thing .... has something to do with rain .... now how does it go ....

 

[J Grant]

These guys want to save the borrower money? How about go back to having a broker call up a local appraiser, have the borrower cut a $450-$500 check at the door and then 2-3 days later have an appraisal report in their hands?

There's no saving money when you have 10 slimy hands in the cookie jam skimming off the borrower at every turn.

Their excuse about saving the borrower money is self-serving. They only want to save borrowers money from the meager appraisal fee. The lenders continue to charge borrowers thousands and tens of thousands of $ in points, application fees, and as many junk fees as they can add.

The enormous $ RE broker and agent fees were enabled by Fannie and Freddie after the consumer lawsuit about it.

After the lawsuit was settled, the GSE's sent a statement to lenders that they would not include the seller paying for a buyer broker fee as a concession (covered item) - thus neutering the result of the suits, which were intended to save buyers money when using a RE agent or broker.

 

[J Grant]

You didn't answer my question and are trying to get me answer question based on a potentially false premise.

I am not selling Aivery or any other AI solution. I wish there were more people here who knew what they were talking that we could learn from instead of a bunch of pessimists assuming the worse about a product they know absolutely nothing about and have not tried. We all know there is liability associated with AI integration. We also know that 3.6 via alamode is going to be a death blow to our businesses.

I understand the AI skepticism, but I have trouble believing that the skeptics on here have even tried filling out 3.6 via alamode or they would be rapidly looking for a escape hatch just like me.

Just trying to navigate solutions for myself and anyone else who cares to share what they are doing.

No, we do not all KNOW that 3.6 alamode is going to be a death blow to our business. Alamode can use AI or other software to auto-populate - They were a pioneer in it with Spark and similar programs. I just took part in one of their online class- you can make templates and save comments - if it takes an hour after that to type in the information, that is time spent analyzing and becoming familiar with the property - it is not just rote work.

 

[Bobby Bucks]

I was having a conversation a few days ago with a builder I know personally , not a volume builder, but a custom builder. 3.6 will have little to no effect on him, but he was still curious about it. I explained as best I could that 3.6 to appraisal software is what DR Horton is to residential construction, He got it.

 

[Zoe]

Doctors are using AI to find cancer cells....https://news.harvard.edu/gazette/story/2024/09/new-AI-tool-can-diagnose-cancer-guide-treatment-predict-patient-survival/

I bet there doctor's are not just saying alright AI says you have cancer...its a tool and I 100% bet they are verifying....

Doctors focus on one area and are very trained in that area. If AI detects a cancer cell based on an xray or whatever, the doctor still has to treat the cancer.

You are not in the same ballpark on single family residential in a heterogeneous market. Multiple and multiple elements of comparison. The doctor has already done things like blood work or xrays or whatever.

It is not even similar to single family residential in a very heterogeneous market.