No College Degree for Cert Generals or Residential Appraisers

[glenn walker]

Anything that hurts the value of college is good. Big Education has really extracted too great a cost to young people. It is easily replaced by new technologies and AI.

Yeah the Money Center Banks got into student loans like stated income mortgages. The large ones had kiosk and offices on campus with aggressive sales people happy to tell 18 to 25 year olds that no job or income was needed to get large loans. Many had no concept of a $100,000 loan thinking they were all getting $150k starting pay in jobs that never existed.

 

[George Hatch]

If we're going to complain about poorly trained appraisers it seems to me the fix for that is in the QE + experience criteria.

OTOH if we're complaining about illiterate appraisers who can pass the QE + test but can only write in emojis instead of full sentences in English then that's a problem more academic education can address.

Others may disagree but I don't recall ever seeing a technical question of any type on this forum that would not have come up if the person asking had completed a 4yr degree in any area of study.

 

[gregb]

At this point on the residential side of the coin, the AMC's virtually rule the roost, with no way one can viably run the numbers and get a decent income working for them. I have had a great run since 1989 but see little incentive to do 360UAD.

 

[George Hatch]

Once the software vendors figure it out I think the new UAD will become manageable for most appraisers except they might need to do their inspections on a tablet in order to accurately note the various attributes. The structure is similar, only the level of detail is being increased. It's not really even that much; mostly in the improvements section. It just looks like a lot more work because of the page count. Their examples are formatted like a narrative (lines of text) instead of a form (tables with fewer writing).

I expect some appraisers to quit but I doubt it will be 1/3 of them. The survivors will gain more parity in the supply/demand, they just won't be able to do as many assignments per week. If the average length of time on a 1004 assignment is 7hrs that might stretch to 8hrs.

What I don't see is how the extra info is going to improve the value conclusions. I also don't think most client types operating outside the GSE pipelines are going to prefer this version of the UAD - I think a lot of them will just stick with the existing general purpose forms.

 

[chad hampton]

At this point on the residential side of the coin, the AMC's virtually rule the roost, with no way one can viably run the numbers and get a decent income working for them. I have had a great run since 1989 but see little incentive to do 360UAD.

It’s saddens me and pisses me off when I read about good knowledgeable, experienced appraisers no longer being welcome in this profession. This is the ultimate legacy of the current leadership in this profession. Every person that sat in front of Congress over the last 10 years representing the three letter agencies are responsible for appraisers with 40 years in this business being no longer interested in it anymore. Such a shame.

Wasn’t your dad an appraiser? I’ve seen the name around these boards a long time. It is completely insane to think that a family who has been in the appraisal business for half a century will soon be replaced by a PAREA graduate who was driving Uber or working the fry grill six months ago.

And they have the balls to come on social media and say “our data shows those guys do just as good of work as the Boyd family did.”

 

[Mark K]

Others may disagree but I don't recall ever seeing a technical question of any type on this forum that would not have come up if the person asking had completed a 4yr degree in any area of study.

Confusing.

I'm uncertain if you're stating that appraisers with 4 yr. degrees have never asked technical questions here or that they asked all the questions?

In either case, you're wrong.

 

[J Grant]

If we're going to complain about poorly trained appraisers it seems to me the fix for that is in the QE + experience criteria.

OTOH if we're complaining about illiterate appraisers who can pass the QE + test but can only write in emojis instead of full sentences in English then that's a problem more academic education can address.

Others may disagree but I don't recall ever seeing a technical question of any type on this forum that would not have come up if the person asking had completed a 4yr degree in any area of study.

The majority of the questions are conceptual, not technical. When faced with applying it in an assignment, they simply can not grasp and apply the concepts behind the "technical" aspect, which they managed to memorize to pass the license exam.

 

[chad hampton]

The problem with QE is you can’t make QE too difficult or in depth and then expect people with a limited academic résumé and of below average intelligence to go in and master the material. This stuff is all related. Either you want high-quality individuals or you don’t. If you don’t, you can’t make QE be too complex.

And this isn’t a knock on any group of people. It just is what it is.

 

[Terrel L. Shields]

he fix for that is in the QE +

Qualifying ed for sure. It's a shame so many on this very forum do not appear to know or understand the basics and certainly CE is too concerned with DEI to concentrating upon reinforcing basic techniques and methods. Seriously, I don't know many residential appraises who know the basics of income techniques for all but the simplest GRM or rent survey.

then expect people with a limited academic résumé and of below average intelligence to go in and master the material.

Many do master the material when they are mentored properly, and I know my learning curve was difficult until I was actually doing appraising and able to apply those techniques side by side with learning. That's why my library of textbooks and papers was extensive. I frequently went to the books to verify and support my techniques.

 

[George Hatch]

Confusing.

I'm uncertain if you're stating that appraisers with 4 yr. degrees have never asked technical questions here or that they asked all the questions?

In either case, you're wrong.

I'm saying that no questions that are being asked here have ever been the result of someone's academic education. They are invariably appraisal-related. I don't think that's an unfair observation for me to make.