No, We Are Not Afraid Of Competition Etc. Trying To Help You

[Bob Ipock]

Are these exam takers finding jobs? I get calls and emails every month from folks looking for a job. In addition theere people

J Grant said: ↑
Is it possible some trainees , instead hired by /working alongside an individual appraiser, are on boarded with AMC or mill shop and have a "supervisor" assigned that in reality barely interacts with them?

If a trainee went to an AMC, how would they ever get any field training? Howe would they learn enough in an AMC office to pass the state licensed or certified exam? In NC every appraisal a trainee works on must be logged in on a form and tell exactly what they did. You have to do certain tasks to receive credit hours. I am certain that "sitting in an AMC office harassing appraisers on the phone would not qualify.

 

[Bob Ipock]

I don't believe that BS. If it is true those exam takers are not finding jobs...the ASC count continues to drop and I know for certain the trainee count is down in some states.

Are these exam takers finding jobs? I get calls and emails every month from folks looking for a job. In addition there are people coming on here on a regular basis looking for a supervisor tell me there is still an oversupply of trainees.

I am not sure how this works but some of the posters say they are a "trainee" but have not finished their classes and/or received any credentials from the state.

 

[Bob Ipock]

Although I liked a bunch of what you said in your OP, USPAP, this part jumped out at me

I've had 4 people call me over the past 5 years (1 just within the past few weeks - he I have not taken out with me but did offer) asking about getting into this profession. All were very intelligent individuals with various degrees of professional backgrounds. The closest one I found with any real estate background was a female who had been working for a property managing company. The next "closest" was a guy who's father "owned some property"

All 4 I offered to take out with me for a "day in the life" (again, the 4th has not called back to take me up on the offer) I did not charge them anything for the time. I set it up so it was for vacant properties (lock box) that I didn't have to worry about time restraints, or borrowers/agents wondering what was going on, etc.

Yes, it was time consuming, but all seemed to appreciate it. All of them pretty much had the same reaction though regarding what went into an appraisal. They all thought it was just the "few minutes" at a property and BOOM you have a value and made $$$. Once I showed them the research side back at the office (very quick overview at that) and explained the "typing a report" ...

I have taken many, many people out for a "taste" over the last 25+ years.....never charged a dime. I probably took half of the students out in the field....not as a part of the class but just to show them. My experience has been hat very few people can AFFORD to be a trainee. If a one man shop is grossing $75,000 a year ...how much of that can he hand over to a trainee...or anyone else. Very few appraise I know can afford to take on a trainee these days. Appraisals are much harder today, take much long and in many cases bring in reduced income. Few appraisers want to take on the financial responsibility for another person. I know there have been times where no orders came in for a week or two...or half of normal for a month or more. Most of the appraisers can't keep paying someone when nothing is coming in. This is a very strange business with a lot of unique issues and problems. I can only finish X number of appraisals a week.......and the $$$$ is not enough to take on a full time trainee or other person. If people think that is being selfish, not "giving back" or trying to limit the competition....they are simply ignorant about the realities of the appraisal business. I blame much of this on the schools especially the AI. That is contrary to the facts we see of too many appraisers for too litte work and too little money? Why in world would the AI or the ASC tell people there is a shortage of appraisers, that the need for appraisers will be increasing etc. Maybe a free or low cost 4 hour class about what the appraisal business is all about, a general overview of the realities. I guess that would not sell many classes then.

 

[Michigan CG]

If a one man shop is grossing $75,000 a year ...how much of that can he hand over to a trainee...

GROSSING $75,000 per year? I wouldn't take on a trainee grossing DOUBLE that!

I would say almost every appraiser taking on trainees at this time is an idiot and they are not really training. To take on a trainee means that one should expect a profit on their efforts in the future.

In reality my business does not allow for me to take a pay cut for the short term to HOPEFULLY gain some income in the long term. It is not realistic. I am fortunate that my fees are the highest in my county for residential work. In order to get more work I would have to work for AMCs that broadcast work looking for cheap fees and I am not willing to do that. I will not work for fees that are at least $100-$250 less than I get now in order to facilitate a trainee.

The AMC offers $325 and sends the order to 20 appraisers and accepts the first guy to take the order no matter the experience or competence of the appraiser and wants constant updates on their garbage portal or website. The AMC business model is a complete lie to the consumer and I am guessing a lot of mortgage broker companies don't really care how they get an appraisal as long as it hits their number.

I am reading more and more really bad reports all ordered by AMCs and it is killing our profession. I won't be hiring trainees but I will be turning these bad reports into the state further reducing the appraiser numbers; they aren't writing appraisals, they are filling out forms with boilerplate that lets them do no research or actual analysis of what derives value in order to meet the demands of AMCs that are mostly incompetent.

If only there was a way to hold the AMC accountable for the for the reports they submit to the lender. That is my goal this winter, to find a way to hold the AMC accountable.

 

[gregb]

If only there was a way to hold the AMC accountable for the for the reports they submit to the lender. That is my goal this winter, to find a way to hold the AMC accountable.

Since the AMC is only the agent of the lender, maybe the winter goal should be holding the lender accountable for the lousy appraisers the AMC engages...

 

[Bob Ipock]

Since the AMC is only the agent of the lender, maybe the winter goal should be holding the lender accountable for the lousy appraisers the AMC engages...

The banks are held responsible for the appraisers/AMCs they engage. The problem that until a bank is in trouble nobody is looking very close at ANY appraisals There will need to be some foreclosures, fraud, corruption. I highly doubt that sloppy appraisal will bother anyone.

 

[Bob Ipock]

Many of these cases are from 2008 and even further back. This blog is excellent and I refer to it often.

http://www.mortgagefraudblog.com/

 

[bnmappraisal]

My experience has been hat very few people can AFFORD to be a trainee.

This is true. At the time I was coming up (2006-2009 - helluva time!) thankfully my wife had a full time job earning plenty for the both of us. We did not have any kids and were renting an apartment.

 

[bnmappraisal]

If a one man shop is grossing $75,000 a year ...how much of that can he hand over to a trainee...or anyone else.

One of the main reasons I haven't actively considered taking on a trainee is the inability to pay them a decent wage.

 

[Salty]

Why anyone with a bachelors degree would want to become a residential appraiser in the current environment is beyond me. Its as if some people have done no research into residential appraisal as a viable career for the "average" person. They just hear what the education websites tell them. If I could go back 15 years I would have never gone down this residential path.