UAD 3.6 discussion

[NC Appraising]

I’ve always felt the majority of appraisers will just adapt just like we always do to changes we are told we gotta deal with.

But the more I read about this new dystopia in the appraisal world, I’m starting to think 50 to 70% of appraisers might just hang it up. If you’re over the age of 60 or so you don’t need a whole lot of money to live and for those younger, there’s certainly easier ways to make six figures out there than putting up with the constant bull**** that you have to deal with in this profession.

At some point, it’s just not worth it anymore. If this is your primary source of income, I would consider looking for something else sooner rather than later. At least be prepared. This is a gig job, not a profession. I wasn’t even looking for a job and stumbled into one that pays more and is far less grief. I never realized what a difficult job being a full time independent appraiser was.

It’s easy now when you only have to make a couple thousand a month to supplement a real income. You can tell all the trash AMC’s to **** off now

They will have to hang it up. Where is all of this work coming from?

Do the math. 5x faster. Click of a button and the appraisal is pretty much complete. Then you also have to take into account that hybrids will account for the majority of the work.

Hybrid report. You get the pcr, review it, click the magic button. Done in 15 minutes max.

One appraiser can easily do 10 a day.

It's going to be cut throat.

 

[Non Sequitur]

I’ve always felt the majority of appraisers will just adapt just like we always do to changes we are told we gotta deal with.

But the more I read about this new dystopia in the appraisal world, I’m starting to think 50 to 70% of appraisers might just hang it up. If you’re over the age of 60 or so you don’t need a whole lot of money to live and for those younger, there’s certainly easier ways to make six figures out there than putting up with the constant bull**** that you have to deal with in this profession.

At some point, it’s just not worth it anymore. If this is your primary source of income, I would consider looking for something else sooner rather than later. At least be prepared. This is a gig job, not a profession. I wasn’t even looking for a job and stumbled into one that pays more and is far less grief. I never realized what a difficult job being a full time independent appraiser was.

It’s easy now when you only have to make a couple thousand a month to supplement a real income. You can tell all the trash AMC’s to **** off now

Good post.

And I agree, most appraisers despite the narrative being pushed by the AMC crowd, have adapted to change and can adapt to change. The problem with what's going on right now is “Adapt to what?” At this point we can't put our hands on anything to even try to adapt, but beyond any of that adapting to the new tech is a small part of the equation. Truth is indie residential appraisers are being starved out of the industry. The new tech isn’t going to help with promises of efficiency, in fact it's going to make it worse. UAD 3.6 with a bunch of fancy tech doesn't mean there will be more assignments for higher fees. In the end, refusing or being unable to adapt to the tech isn’t what will kill indie appraisers, the lack of assignments and reasonable fees will.

 

[Non Sequitur]

They will have to hang it up. Where is all of this work coming from?

Do the math. 5x faster. Click of a button and the appraisal is pretty much complete. Then you also have to take into account that hybrids will account for the majority of the work.

Hybrid report. You get the pcr, review it, click the magic button. Done in 15 minutes max.

One appraiser can easily do 10 a day.

It's going to be cut throat.

Happening now (posted on Facebook):

 

[Dublin ohio]

100%.

Now before I get too far it's fair to say even with the untold millions of dollars being dumped into development of more software packages than our industry has ever seen, most of it’s going to be vaporware because our industry is just too thin to support more than a few of these platforms. And don't be surprised that the winner of this race is a noob that will be absorbed by one of the larger legacy software companies.

Adding to what cpursley posted, from what I’ve seen the photo recognition intelligence will also C and Q rate the subject property fields and C and Q rate the comparable properties. And some are working on a cradle to grave platform: Once you enter the subject’s address the AI agent will populate the subject’s info, research zoning, flood data, etc. and after the site visit populate several suggested comps, comps considered but not used, auto fill adjustments, market data, cost data, map addendums, etc. All that will be left is the signature if the appraiser agrees with the output.

So it sounds like the industry is going to a glorified "black box" appraisal

 

[Non Sequitur]

So it sounds like the industry is going to a glorified "black box" appraisal

Yep. Pair this with PAREA and especially Practicum, companies will train noobs to the black box process and turn loose a licensee who thinks the black box app is how to appraise.

 

[Tom D]

They need some time to first test it with us, work out the kinks. Then they will split the uad3 into a seperate inspection report and the value section.

And each part will be done cheaply or freely. Now they may want some human appraisers to continually test their model against. So some may still be working after several years of the uad3 kill pill for appraisers does it real job. And i don't mean a better appraisal.

 

[timd354]

Cellular data is internet. Most phones have a tether option where you can share the signal to your laptop at no extra cost (unless your phone provider sucks):

How to set up a Personal Hotspot on your iPhone or iPad - Apple Support

A Personal Hotspot lets you share the cellular data connection of your iPhone or iPad (Wi-Fi + Cellular) when you don't have access to a Wi-Fi network.

support.apple.com

Yes, the tether option is very easy to use and works pretty well in my experience, which came into handy when I spent 5 days driving all over the Houston area looking at hurricane damage shortly after Hurricane Harvey rolled through the area.

 

[Dublin ohio]

Yes, the tether option is very easy to use and works pretty well in my experience, which came into handy when I spent 5 days driving all over the Houston area looking at hurricane damage shortly after Hurricane Harvey rolled through the area.

I have a separate wi-fi account for my car. Completely independent of my cell service, $17mo. I have used the tethering feature a few times. But I find it makes my cell run a little "warmer" than I prefer

 

[Dublin ohio]

Yep. Pair this with PAREA and especially Practicum, companies will train noobs to the black box process and turn loose a licensee who thinks the black box app is how to appraise.

Wonder how long it will take lenders to catch on when they start seeing the same comps being used by different appraisers and the adjustments are all similar

 

[cashcatz]

I have a separate wi-fi account for my car. Completely independent of my cell service, $17mo. I have used the tethering feature a few times. But I find it makes my cell run a little "warmer" than I prefer

Yeah, that does overwork the phone. They also make those portable hotspots. Had one back end the day specifically for inspections.