Upcoming Changes To Real Property Appraiser Qualifications

[The Warrior Monk]

Nobody is gonna spend the time and expense obtaining a 4 year, heck even a 2 year college degree to into appraising the way things are now.

Sure they will. They just won't be working for management companies, and a larger percentage will be getting a CG credential.

 

[Kyle77]

Sure they will. They just won't be working for management companies, and a larger percentage will be getting a CG credential.

Really??? What exactly will the do? Will they go directly into non lending work? :Eyecrazy:

 

[Cob]

This post should have been titled, Up and coming end to Real Property Appraisers....

 

[Kyle77]

David W, in reply to a recent thread where you state, more or less, that I should not wish for Fannie & Freddie to be abolished as the would surely be my doom because I would not be able to compete. Well bad news. Seeing as how 95% of my work, give or take, is from local clients that lend their own money I do not believe I will lose any sleep over the matter. What is stopping them from using the local CGs 100% of the time now? I brought with me into this business a couple of cool tricks from two previous fields that opened some doors for me. Little something they don't teach at Princeton. Now, there are things I still cannot work on alone but I have someone that is both a friend and mentor to work with me on those and the rest goes to others. I still fill in the gaps (thanks govt) as a part time property claims adjuster (was previously full time) but don't really need it and usually do not have the time for it and turn some down here and there. I will just say that I make a good living and leave it at that. I know it's hard to believe that a non degreed individual is able to compete out there right? Imagine that. In actuality, my background is probably more suited for this work than yours and most definitely someone with any old degree. I'm sorry, you just really come off as a bit smug, prickish even. Unjustified, I am certain.

I am all for education. What I am not for is using it as a tool to monopolize an industry, whether I am in the loop or out, I believe in free competition. I am not worried about technology nor I am worried about competition. If am obsolete in the workforce then I will simply go back to what I was doing before or re-train for something else. I do not believe that I am. I am not your slap it together, stamp it and send it own its way appraiser. I am glad to know that you are concerned for me though. Very sweet.

What you fail to comprehend is that even though 80% of the millionaires are college educated, how many more of the non-degreed were left out by the monopoly on professional entry barriers and licensing. Also, something you didn't grasp in the last thread is where I stated, " What would American architecture be like if there wasn't a non degreed architect named Frank Loyd Wright?" You replied something along the lines of, he was the exception and no the rule or the usual something or another. Yes, this is true, in the current environment of the govt licensing monopoly but the question still remains, what would American architecture be like if a few govt bureaucrats decided that he couldn't practice his craft?

 

[J Grant]

what would American architecture be like if a few govt bureaucrats decided that he couldn't practice his craft?

I would think FLW, if he wanted architecture and had the passion the way he did, and a college degree was "stopping" him, would have made it his business to go to college! And then he would have done architecture.

In many fields, one does not have to go to college to practice, just to pracitce as a professional or sell your serivce to the public. An unlicensed architect can build genius inventive homes for themselves or friends out in the desert somewhere even today, but he/she cant' perhaps advertise or get building permits in populated areas.

I can see both side of debate in terms of appraising, but since the req is here, I do believe it will benefit the profession.

 

[The Warrior Monk]

Really??? What exactly will the do? Will they go directly into non lending work? :Eyecrazy:

Yes. Back when I took my courses in the late 1980s/early 1990s, I meet appraisers that did exactly that. During the refi boom it appeared less common, simply because there are far more residential properties than commercial properties.

The large firms still do this. Most expect college degrees, but that has been true for a long time, and has nothing to do with the new requirements.

 

[Flygirl 152]

According to a recent report from Cambridge, Mass.-based Forrester Research, 20% of America's millionaires never attended college

The average net worth of billionaires who dropped out of college, $9.4 billion, is more than double that of billionaires with Ph.D.s, $3.2 billion - some notable dropouts are Bill Gates, Steve Jobs, JD Rockefeller, Howard Hughes.

Some don't need college to be smart or successful - some do.

So true. My son is a senior in high school right now. Last year when he was 16 he started an app development company which is doing extremely well. So much so, that Nook (Barnes & Noble) & Kindle brought him on a developer. He is on tract to making 6 figures this year, and in 3 months earned 1 year of UC college tuition which he has saved in the bank. He is well respected in the development community, and large companies have contacted him and requested he develop test app's for them. All this from a high school student with no college degree.

We found out a month ago that his top pick college accepted him for his major; computer engineering. He is also being solicited for paid internships, and receiving prestigious invitations to meet the individuals that developed the languages used in programming. All of this without ever taking a college class.

 

[J Grant]

It is odd that people keep dragging in names of creative geniuses / entrepeneurs who did not go to HS...none of them became appraisers, insurance adjusters, accountants, aka drudge fields that would not appeal to a geniur or inventor.

So why worry tha the next FLW would be shut out of apprasial? He'd spend a day doing it and leave.

Interesting that nobody brings up the fact that the college req would also prevent the throngs of barely literate D avg HS grads who barely completed the grades from entering the field. That is a more realistic worry, then barring the one creative geinus who comes along every decade ...a genius would recognize that appraising is not a visionary or inventive field, or if they were a genius that decided to pursue appraising, would take them about a year to blow through college coursework and then they could be an appraiser (though what genius would want to devote their life to appraising is a question I can't answer)

 

[J Grant]

So true. My son is a senior in high school right now. Last year when he was 16 he started an app development company which is doing extremely well. So much so, that Nook (Barnes & Noble) & Kindle brought him on a developer. He is on tract to making 6 figures this year, and in 3 months earned 1 year of UC college tuition which he has saved in the bank. He is well respected in the development community, and large companies have contacted him and requested he develop test app's for them. All this from a high school student with no college degree.

We found out a month ago that his top pick college accepted him for his major; computer engineering. He is also being solicited for paid internships, and receiving prestigious invitations to meet the individuals that developed the languages used in programming. All of this without ever taking a college class.

All this proves is that your son was too smart and inventive to be an appraiser, and it looks like now he is going to college anyway.

Though there are highly intelligent people in appraising, it is not, overall a field that appeals to the super high IQ or creative or hi tech inventive people. It is a field that appeals to a certain combination of traits in a person, and these traits can be found in both college ed and non college educated.

Part of the problem with appraising is that the lack of formal educational entry to the field led clients to be predatory and exploitative in their treatment of appraisers and too many who entered the field right out of HS were not prepared to handle it.

 

[Kyle77]

It is odd that people keep dragging in names of creative geniuses /entrepneurs did not go to HS...none of them became appraisers, insurance adjusters, accountants, nor any other field that is not creative or inventive .

So why even think they worry they would be shut out of appraisal? They'd spend a day doing it and leave...and either invent software that could duplicate what an appraiser does and make a billion dollars, or go do their creative thing and shudder at the one day they spent doing appraisal grunt work.

Interesting that nobody brings up the fact that the college req would also prevent the thrgongs of barely literate D average or GEd holding non ambitous clueless people who can barely put a sentence together from entering the field. I am more worried about them, then the one creative geinus that comes along every decade who since he is a genius, would recognize that appraising is not a visionary or inventive field...would take a person of that IQ level about a minute to figure it out?

There are still states that do not require architects or attornies to obtain a college require degree to become licensed. That's just a couple of the top professions. Surveyors were just recently required to have a college degree. Not alot of time right now but I can provide many many other examples if need be.

How would an unambitious clueless person pass the bar exam or state architecture exam? Why would they even try if the were unambitous? Also I certainly believe that anyone that has the brain capacity to create some of things you mentioned would not have many problems learning to appraise if they so choose.