Property data collector

[George Hatch]

Low barrier to entry = low income potential

Especially as the technology evolves. Sooner or later the camera resolution and the AI programming will advance so far that the data collector will basically just act as a walking camera boom. The app will identify the appliance models, the fixtures, the countertops the ceiling heights, the floor coverings - all of it. Leastwise, sufficient to the purpose of feeding the appraiser.

 

[alebrewer]

Exactly - which is why it may make sense for some appraisers who are transitioning out. Might be a good interim gig for folks, as the barrier to entry is, indeed, low.

 

[George Hatch]

Limited Economic Lifespan, IMO. They may even progress to the point where the lender sends an Amazon Drone to drop off a burner phone with an inspection app and camera app, with the agent or borrower walking the device around for free. Set it down for a couple minutes while it compiles it's report and uploads it to Command-Control-Central. There the AI prepopulates the appraisal report or other valuation app, grids all the sales that can be even remotely considered comparable and forwards that to the appraiser. Appraiser reviews everything, edits as they see fit and eliminates the sales they don't intend to use. Writes a short Reconciliation and they're done.

DataMaster meets CubiCasa-V.2027 . Maybe not sooner, but eventually inevitable. Rust never sleeps and neither does AI's Long March. And these progressions won't just be limited to residential 1-4s. At least some of the easiest and most profitable CG assignments are going to go that way, too.

 

[J Grant]

Limited Economic Lifespan, IMO. They may even progress to the point where the lender sends an Amazon Drone to drop off a burner phone with an inspection app and camera app, with the agent or borrower walking the device around for free. Set it down for a couple minutes while it compiles it's report and uploads it to Command-Control-Central. There the AI prepopulates the appraisal report or other valuation app, grids all the sales that can be even remotely considered comparable and forwards that to the appraiser. Appraiser reviews everything, edits as they see fit and eliminates the sales they don't intend to use. Writes a short Reconciliation and they're done.

DataMaster meets CubiCasa-V.2027 . Maybe not sooner, but eventually inevitable. Rust never sleeps and neither does AI's Long March. And these progressions won't just be limited to residential 1-4s. At least some of the easiest and most profitable CG assignments are going to go that way, too.

I doubt it would get that hands-off. It is not an Amazon delivery; it's a property inspection to UW, a 500k or another hefty amount loan.

Regardless, it is a low-paid gig - add in the travel time, appointment time, upload to website time, any admin or report time, then the cost of gas, and the $75 -$100 per order, is not very good. Per hour, in my estimation, it works out similar to an ISNTA cart shopper or such.

IDK how much volume it offers either- if it is sporadic it is even less appealing. At least with Insta cart or similar gigs the work is out there and one can clock in and do as many or as few hours as they want to work, when they want to work
PDR, is about set appointments and tight deadlines.

Of course, if Elon gets his way and driverless vehicles get approved, many driving gigs will be wiped out as well..

IDK what people will do for income if theof trend continues - do the tech barons and efficiency experts have an answer for that?

So the vlation and isntpeciotn is done by a drone or AI - but few people can afford to buy a house and the business dries up, so where it all get people at the end...

 

[alebrewer]

I doubt seriously if anyone sees data collection as a long term profession.

 

[gregb]

AMC gets an AI licensed as appraiser via PAREA, add some E&O, who needs an actual live appraiser for a lender to perform?

 

[J Grant]

I doubt seriously if anyone sees data collection as a long term profession.

Sadly, it seems some displaced appraisers are turning to it.

If it is filler income or works for a few years, go for it - but doing the math, it is the equivalent pay or slightly better than other gig jobs, yet it has some additional disadvantages. If the work is fun for some doing PDR, then that, of course, is one reason to choose it over a more mundane side hustle.

 

[J Grant]

AMC gets an AI licensed as appraiser via PAREA, add some E&O, who needs an actual live appraiser for a lender to perform?

Can AI be licensed as an appraiser? I suppose if AVATARS replace humans, then yes - at which point they would be so smart and have so much power that they would see us as too inefficient to keep around and either exterminate us or grow us for food, with maybe a small few humans kept in zoos for entertainment purposes.

See how efficient that all is?

 

[alebrewer]

Sadly, it seems some displaced appraisers are turning to it.

That is exactly what it is - an interim gig, something that appraisers are already familiar with, until they find their forever job again. It's not sad at all. It's folks actually making a move instead of just riding the horse till its dead.

 

[J Grant]

That is exactly what it is - an interim gig, something that appraisers are already familiar with, until they find their forever job again. It's not sad at all. It's folks actually making a move instead of just riding the horse till its dead.

What forever, job?

Appraises had a forever job, and for no reason, other than profiteering, were replaced in part with this. It's sad that all these platitudes about adapting or riding a horse, etc, are empty talk when someone is facing a severe lack of income or having to retrain at age forty for another career - putting aside 2 years or 4 years plus the cost of education; how many can do that?

PS, this is not personal for me, I am doing appraisal on what ism due to market slow down a part time basis and I collect sS. I just feel bad for that appraiser who did all the training and became good at it, and due to the idiocy of USPAP not including an inspection as part of the appraisal practice and the GSEs exploring it, those appraisers find themselves in a tough spot.

And these hybrid products or WAIVERS are not any better and perhaps sometimes worse than the appeals they replaced.