SRA demo alternative results

[Michigander]

So as not to hijack another thread; this comes from the MAI online discussion my response to John Cassevites

I would like to see what people here think, on whether the alternative has weakened the SRA or not. Lets do this without AI bashing please.

As to the issue of education; yes, education is a good thing and I applaud anyone who undertakes more. What I think is really lacking on the new requirements is the narrative aspect of working outside of a form and piecing the entire puzzle together. Residential appraisers do not typically work in a narrative format and doing this really helps to break things down and make the appraiser think (in my experience). It gets us out of the box, something that is critical now more than ever as residential appraisers. Also, being on the ground dealing with the home owners and real estate agents and landlords in the research phase of the demo was really important IMNSHO. I personally viewed more than half of the properties that made up the data for my demo, and there were a large number of properties involved. Nothing was perfect; everything was jumbled. It was a wonderful and difficult exercise. I think that the appraisers who did this ground work would say it was a very valuable experience. Even if the new alternative is as narrative intensive, it still lacks the actual experience of locating the subject and communicating with the agents and principals and being inside the bricks and mortar. This part can't be simulated.

Another aspect which is missing is the peer review. Why is it that the SRA only requires one level now? How many appraisers found the peer review helpful? I remember my first review was really enlightening. I had absolutely no clue what I was doing and the panel was so helpful in giving me pointers on what was missing. As someone who was on my own at that point, this was the start of becoming a better appraiser. Losing this requirement also weakens the designation in my opinion.

 

[The Warrior Monk]

The demo alternative has not weakened the significance of the SRA designation, the market has. Hence the reason for alternative in the first place.

 

[Michigander]

No's are definitely winning so far. Looks like I'll be eating crow for dinner....

 

[Thomas Fiehler]

Sorry David but I must disagree (atleast partially). The demo alternative first happened years ago when I was president of local SREA chapter. The demo was, and is, likely the best learning tool out there for appraisers. I was always amazed at the number of appraisers who "were almost" SRA's except they just had to write their demo. Most reports did not pass with the first submission. In fact, I managed to get ahold of a grading scale and worked with one appraiser who had to update his report because his grade was 69.5 and one needed 70 or better to pass. I also new appraisers whose score was so low that they needed to start over with a different property. I had received my SRA in 1979 and gave it up a few years ago since nobody seemed to care about it. I couldn't tell you what yeat the last client or potential asked if I had a designation.

 

[ddnma]

No bashing here- only their opinion about merging with all appraisal organizations which are members of the foundation- pretty simple really.

 

[The Warrior Monk]

I had received my SRA in 1979 and gave it up a few years ago since nobody seemed to care about it. I couldn't tell you what yeat the last client or potential asked if I had a designation.

This actually proves my point...the market has weakened the significance of the designation. Many have given that particular designation over the years, and a greater number have decided not to get it (myself included, since it means less than nothing to my business).

 

[Bama Bayou]

No potential client has mentioned SRA to me since licensing. It has not been relevant for fifteen years. I doubt if any bankers under 40 have ever heard of it.

 

[Michigander]

Interesting results! I would have expected different results because it has been a benefit to me since I received it. It helped me get a job and when I was doing private appraisals it was very helpful for all the divorce work and ERC work I handled. If I were primarily completing mortgage appraisals it wouldn't have mattered though, that is pretty clear from the posts on the forum due to licensing. Guess it only means something to attorneys, ERC clients and some corporate types.

Crow doesn't taste so good, but thanks for the responses and votes. Interesting

 

[Carnivore]

If I were primarily completing mortgage appraisals it wouldn't have mattered though, that is pretty clear from the posts on the forum due to licensing.

Serena,

Its pretty convienent to blame licensing for the degradation of the SRA except it does not hold water in my book. I blame AI and here is my anecdotal thesis.

Look at commercial appraisers and honestly try and tell me that licensing has degraded the MAI designation!

I seriously believe you will not be able to get testimonials stating MAI's lost prestige and professional standing in the Appraisal and Banking Industry.

So the question is why SRA's and not MAI's?

 

[Michigander]

Hey Carne,

I blame a number of factors including licensing. Licensing has lowered the bar, eliminating the cache of exceeding minimum education. Banks, MBs, AMCs have definitely degraded the residential set looking mainly for the fastest cheapest, and appraisers have also degraded it (including designated appraisers) by completing shoddy work. The AI is also to blame for not listening to enough of a broad section of its membership. Don't think getting rid of the demo helped in the least, or eliminating advisory review. It has helped garner new members for sure, but it is troubling that a number of forum members have said in the past that they don't think it is worth it to go ahead and finish because dues will rise and there is no benefit in the designation.

We are a microcosm of the appraisal field in general (pretty vocal) and if this is how so many people on the forum feel, then it is just magnified outside of this small group. Guess we have to value ourselves to have value in the world. Even with my disagreement with the AI on the demo alternative, I am still an AI booster as the best source of education and generally a good place to meet appraisers who care about the profession and want to advance themselves. Far and above what I have seen at other educational offerings.

Since you are an Associate Member, what is your opinion? Are you going to finish and get your designation? Are you going to do it with the traditional demo or with the alternative? Will you avail yourself of any advisory review or only the final level?