This Industry's Out Of Control!

[Travis McGee]

You don't need a college degree to go into politics, do you? I think most teachers are pretty good at what they do, not idiots...they work for low pay at difficult and these days dangerous jobs. As for the legal profession- who knows. Attorneys at least earn a lot more pre hour than we do...so regardless of what we think of them, the college requirement is good for thier business.

 

[Mike Simpson]

excellent points!

 

[Pam Wyant]

A college degree does not necessarily impress upon the graduate the need to be ethical at all times. And who might need fees more than a cash strapped recent college graduate who still has to complete (or just did complete) a low paying 2000 hour apprenticeship?

 

[Mike Simpson]

I needed money at one time too...I've never, however, fabricated comparables.

I have never been able to understand the mentality of some in society or the appraisal community for that matter.

They don't make more money by being dishonest or unethical...it's just a matter of time, but some people just can't seem to help themselves--like moths drawn to the flame!

-Mike

 

[Travis McGee]

Hey Mike-like your stance and perseverance on the issue.
Hi Pam- I agree a college diploma cannot make someone ethical. However, it would mean a substantial time and financial commitment in order to enter the field. The right couses would also eliminate the long apprenticeship (part of the degree program would be doing mock supervised appraisals- taught the right way.)

The current apprenticeship system contributes to the problem- some trainees learn a lot, some almost nothing, do the same type of property over an other, yet others are supervised by crooks. The trainnes who have been treated poorly are cynical and want to make up for two plus years of exploitation, therfore lowball fees or make values to get the work.

 

[Pam Wyant]

Agreed Mike - I didn't mean to imply all college graduate appraisers would be unethical. Just making the point that if someone is unethical to start with, being a college graduate isn't going to prevent these acts, and the unethical graduate might find themselves in a situation that would make it more tempting due to having to pay off college loans and other costs associated with being a recent college grad.

 

[Mike Simpson]

I've obviously taken the tortoises approach to business. Like the old John Houseman (sp?) commercial used to say; "they made their money the old fashioned way...they earned it."

I've watched with amusement over the years how some have lost their licenses, been sanctioned or forced to come into compliance. They make a great deal initially by being (apparently) dishonest, and lose it predicatably with nothing left but a bad reputation for their troubles.

I wish the more agregious offenders were made to pay more for their fraudulent indiscretions. I think the AQB two trainee limit should be adopted yesterday, and I think those endangering the nations economy should be taken out of the equation permanently (lifetime license revocation).

-Mike

 

[Terrel L. Shields]

Hi Pam- I agree a college diploma cannot make someone ethical. However, it would mean a substantial time and financial commitment in order to enter the field.

Then again, anyone smart enough to get a degree ought to think twice, then run, if confronted with the prospect of working for years for peanuts to become an appraiser. Why would any college grad want to become an appraiser to continue to hemmorage real money in this business with a minimum 3 year process to get a proper training and license THEN to build a business? Take your degree and manage a Pizza Hut. I promise you'll make more money to start, be making more money at the end of 5 years, and likely the appraiser will never catch up.

We in my area are in a desperate shortage of appraisers and no prospects of adding many in the future. Not an area appraiser I know is willing to take on a trainee. We have two outfits that train about 2-3 a year, with total staff of 8-10. One other that used to have a large staff is now a 3 man outfit because the owner told me "I got tired of babysitting."

 

[Travis McGee]

Hi Terell-My thought was that the degree would take the place of the 2-3 year training/apprenticeship. Perhaps the answer is to make the requriement more like the two year nursing degree, two years of junior college credits, in place of the apprenticeship- like you said, people are reluctant to train, with a 2 year degree program qualifying people they would no longer have to.

 

[EDWARD BERRY]

SOMEONE SAID the world observes the GOLDEN RULE.

He that has the gold makes the rules.

Yesterday one of my appraisal buddies, a RM, local family, highly moral family office, said he was fired by a large lender without written reason.

The Quality Control gal (my description, not his) told him at the first of the year she knew what he made because she saw his W-4. and that was too much.

He came in "low" on a loan officer's purchase, who admitted he thought the asking price was a little high.

He refused to adjust the 5 acres surplus land at $30,000/acre on a GOOD customer. ( a number hitter on last refinance had done so)

Contrary to our ethics " Honesty is not the best policy".

UNTILL SOMEONE LOOSES THEIR ASSSSSESSSETS it will not change.

Anyone has a different idea, I will listen.

ed in the woods