The Appraiser Shortage Myth Part 43

[Deleted member 130081]

What illegal tactics are you alleging? Comparing prices is not illegal. In fact, it is the norm. As I have said many times before, appraisers make a living by analyzing comparable market data - but many do not want that done with the services they provide. I agree that AMCs poll labor, and it is the data from that polling that some do not like.

If you want to use an oil company example, then it is the appraisers who are the oil company, because it is the appraisers who provide the service that is purchased, and it is the appraisers that set the market rates that the buyers of those services have to pay. Just look at the COW states to see that. If AMCs controlled pricing the way some claim, then why have fees in those areas gone up 100% or more over the past two years? Do you think it was AMCs or lenders who said, "Gee I think appraisals in Portland should cost $900?" No, it was the appraisers in that market who drive fees to that level.

Second time I have responded to this post and I will make the request a second time. Please provide some examples of other industries that pool labor against itself on the mass scale that AMCs do. So far your answer has been... chirp, chirp, chirp...(those are crickets).

LOL. Don't get your feathers ruffled D. I'm just some dufus appraiser not worthy of a living wage - what do you have to fear? Just answer the question. AMCs ask for extra and specific comps all the time when they are not available, so...you know...pony up to an impossible request please. C'mon, prove your opinion that what you guys do is "the norm".

 

[bnmappraisal]

I agree Evincere. AMCs want to preach about the quality of their appraiser's reports and how quality is so important, but they want it back so quickly. It hardly gives time for proper verification and analysis, let alone to TRAIN someone how to do that verification and analysis.

 

[Eli]

it is disingenuous duplicity I find contemptable. Teach your trainees well but just make sure the report is back in 48 hrs.pft...

The longer you give me, the better I get!

I am dead serious.

 

[Eli]

I think about demo appraisals and how it relates to my argument of how I get better with the longer you give me.

 

[Terrel L. Shields]

I'm just some dufus appraiser not worthy of a living wage

The AMC model is not working unless you are working as an owner or salaried employee of the AMC. Honestly, AMC's don't think you are worth minimum wages, but will pay you all of $15 an hour out of the goodness of their tiny little hearts for a staff position.

 

[Joe Flacco]

The AMC model is not working unless you are working as an owner or salaried employee of the AMC. Honestly, AMC's don't think you are worth minimum wages, but will pay you all of $15 an hour out of the goodness of their tiny little hearts for a staff position.

 

[The Warrior Monk]

No here, fail rate consistent at 40% +-

As far as here goes. During the early days, the people that generally were failing were those that hadn't taken the qualifying courses (the old 101 & 102 courses) in eons. In the mid-1990s-2000s much of the failure rate appeared to be due to proprietary schools teaching QE. The education was geared toward test taking, and severely lacked in foundational concepts. Those that took the society course always did well, as the state test until about a decade ago was far more difficult than the AI course finals. The current failure rates here are high, because if one doesn't take AI courses, the state test is extremely difficult and an uphill battle.

I've helped many people with test issues here. The common theme of everyone that fails, none have taken AI QE.

 

[gregb]

The two AI cap courses I took in 1995 prepared me for the CA state CG exam in 1996. By far, the AI courses were more challenging than the CG exam.

 

[Terrel L. Shields]

he two AI cap courses I took in 1995 prepared me for the CA state CG exam in 1996. By far, the AI courses were more challenging than the CG exam.

The best appraisal math guy I took was not a good appraiser - old NAMA guy. He got sanctioned here, moved back to OK, went to work for a past NAIFA prez whom promptly fired him. Most of my qualifying classes were NAIFA. But I amassed a library of books I read to prepare and I passed both CR & CG tests first try.

 

[Deleted member 130081]

I personally have no problem with cost plus. Most AMCs don't either. But shifting to such a model would not solve the problem that so many appraisers perceive to exist.

Let me see if I understand you correctly. AMCs pooling labor, inconsistent with any other industry practice, risen from government intervention rather than the free-market, resulting in lower earnings across the board, is really just a perception problem? Did I read that wrong?