Industry Faces Severe Appraiser Shortage

01/05/2016
Featured Video Play Icon

The Real Estate industry is facing a severe appraiser shortage.  It really comes as no surprise since HVCC came around which absolutely rocked the appraisal industry.  Ever since HVCC, the qualified appraiser pool has been shrinking with no real change in sight.

Comments

comments

Comments
  • Pingback: Industry Faces Severe Appraiser Shortage – Carolyn Clark – REALTOR®

  • How about Credit 101 being mandatory in high school? If young people learned the significance of timely bill paying and fiscal responsibility, there would really be no need for credit repair companies. Is there really a need now? If these folks would pay their old, bad debts, their credit would be “repaired”. Further, I really don’t want to originate a loan for someone that magically just had their life of bad moral fiber erased, as the decision to lend to them is based on an inaccurate assessment of the likelihood of them repaying the debt. Don’t really want those deals on my company’s books, especially as a servicer of the loan.

    Matt January 5, 2016 4:50 am Reply
  • I’ve been appraising since 1999. The business has been good to me and I’ve been through the rollercoaster ride. Pre and post HVCC. I agree and disagree with your comments regarding the so called “appraiser shortage. There are actually plenty of appraisers out there, however, there is a shortage of appraisers willing to work for anything less than $400-$450 per assignment…anymore. I’m one of them. I average between 25-35 appraisals per month (on a slow month). If you do the math, it’s a lot more than $50,000 a year. In fact, I completed 476 appraisals for 2015. It was a great year. I work for mostly AMC’s and my minimum fee is $400. I also have 2 trainees that are currently working towards their certification.

    The appraisers that left the business are mostly the ones that spit out a poor product for $275-$325. They soon found out that completing appraisals at that price meant no life and a crap load of revisions, especially with all the new requirements and additional hours it takes to complete an appraisal these days. Eventually they leave the business due to being blacklisted, getting low scores from the AMCs or they soon figure out that there is no profit when your working 20 hour days. There is also no loyalty with $300 AMCs. If they find another appraiser that will take an assignment for $10 less, they will drop you like yesterday’s junk mail.

    My experience with the $300 AMCs have shown that almost every year, they are looking for new appraisers to join their panels, stating “we need more appraisers in your area”. The truth is after the $300 appraiser finally raises their price to $400-$450, which is what is “reasonable and customary”, AMCs start looking to replace the appraisers that are willing to work for $300 or less. Yes! this is still happening! I know this cause I get these emails all the time and I sign up with all of them. Why? Cause I’m always looking for the $400+ AMCs, which are willing to pay what is reasonable and customary. Like clock work, within days of being accepted on their panel, I get an appraisal order with a fee of $300-$325. I counter every time to $400-$450 and I almost never hear back from them again. I thought they needed me? I thought there was an appraisal shortage? Of the 26 AMCs I signed up for last year, 2 are paying my minimum fee of $400+ and have become loyal clients. Of the hundreds of AMCs out there, I currently work with only 6 and that is all I need. I get an average of 5-7 appraisal orders a month from each of them. They get VIP service, an excellent product and fast turn times.

    AMCs are finally figure it out. As more and more $300 appraisers leave the business, the pool of $400-$450 appraisers is growing, available and ready to work. As long as appraisers demand what is reasonable and customary and not work today for 1990 fees, the appraisal business can be a very profitable and rewarding profession. An appraiser that has a 4 year college degree, has taken all the required appraisal courses, passed the very difficult state exam and has been trained by a professional appraiser with the same credentials, can and should expect to make well over $100K year.

    What amazes me is what an extra $75 to the average AMC appraisal fee could do to change the appraisal profession, the appraiser’s career and the banking industry as a whole. Am I the only one that sees this? Peace…

    Joe Quinteros January 5, 2016 5:30 am Reply
    • In my area where there are a lot of custom, high end homes or average sized, older homes that have been customized over the last 75 years, it would take a 70 hr. work week to complete that many appraisals, and every homeowner who’s house I inspected would have to agree to “my” scheduling and availability. Not every appraiser or market area can allow for such accelerated productivity – if your comments are truthful without special circumstance!

      TruthBTold January 5, 2016 8:41 am Reply
    • Completely agree.

      David Padilla January 11, 2016 12:45 am Reply
  • There is not a lack of appraisers, there are only appraisers that will not work for AMC peanuts.

    Eric Morse January 5, 2016 5:52 am Reply
  • This is pure baloney. There is no appraiser shortage. This is just more lending industry propaganda attempting to insure that there’s a big pool of appraisers they can pick from to do their bidding and get rid of the ones who are ethical. There might be a shortage of appraisers who are willing to work for what we were working for in 1983, though. Remember 1983? Except for the braggarts, above, who typically have family lending connections or already have family money, most appraisers don’t even have offices any longer and can barely afford to stay in business, much less make an actual living over and above what it takes just to pay the business bills. Younger people are not getting into the appraisal field because they’ve been told the truth about it. So, if you’re thinking about getting into the appraisal field, go get a government job. You’ll be much happier.

    Free Speech January 5, 2016 7:26 am Reply
  • In 2004 I attended a meeting with a panel of bankers and builders (salty dog builders) regarding the impending changes in the way banking is about to change. If you recall, in 2004 the nextel phones were still around, you know, the ones that made that obnoxious tone, then everyone heard the conversation. All during this meeting, the bankers were trying to warn the builders to “change their ways”, “stop spending money, get rid of the blonde or brunette hot girlfriend who was ‘helping’ the builder spend his money”. All the while, the chirping continued, builders kept getting up and walking out to talk to subs, until one builder on the panel got up and shouted, “Y,all keep going when you are leaving, you will be out of business anyway after all these changes take place!” I sat there and listened to these bankers tell of changes in credit scoring, lender restrictions, ability to borrow, all the warning signs that the banks were putting on the brakes of this crazy development bubble that had been inflating. I mean come on, a guy making $50,000 a year buying a $500,000 house, no interest, 130% of value, just because he/she, has good credit?
    When the market crashed, the HVCC came into the picture. Immediately the really shady appraisers, the ones who would tell lenders “you want the value, you got it” went away. Then the layer of appraisers that had to go out and solicit their work, the ones who just wanted their phones to ring, they got out. the lending took a different turn when some of these so called development loans, the scams that were still going on, suddenly the changes made it more difficult to get these loans approved.
    One of these large developments that was looming was a group of investors who consulted an appraiser about a potential development and the values based on that development. Those developers went to the bank, got a loan and then decided the development was a bust, they defaulted on the loan, but this was during the time when banks had no sympathy for the developers. Banks had huge portfolios of lots, unfinished developments, half built houses, the money dried up. These developers I speak of were friends with Andrew Cuomo, who at the time was New York’s Attorney General. All these loans, developers, builders sat idle, nothing was done until the banks figured out a way to undo the mess they created. The Frank-Dodd Bill was introduced as a way to curb any future bad loans. Check points were put into place. Appraisers could no longer speak with lenders and instead had to talk to these Appraisal Management Companies (AMC) to get business. The AMC’s were unregulated, unchecked, and uneducated, basically, any Tom, Dick, or Harry could start an AMC. To this day, many AMC’s exist only because they hired the appraisers who could not make it in the appraisal industry, they left an independent opinion profession to be sock monkeys for lenders. These appraisers still are in charge of appraiser’s business. The tables changed, and now the same appraisers who hired these bozos were now in the driver’s seat, shipping away at appraiser fees so they could make their cut. The AMC’s would put out shotgun bids awarding the assignment to the lowest bidder. Appraisers were jumping state lines, taking orders of 10 appraisals in a given area for a fee of $100 per appraisal. It was, and still is, a complete joke. Banks got wise to these AMC’s, state appraisal boards got tired of hearing appraisers complain about an unregulated industry killing their business. Greed was the factor that killed he appraisal industry. Greed from bankers willing to lend anyone anything as long as they had some credit. Greed from realtors who would shun appraisers and threaten bankers not to use a specific appraiser because of incompetence, when in fact, it was because they killed a deal by not appraising the property for or above the contract price, something the realtors grew accustomed to having, greed by the shady appraisers who screwd up the entire industry by not having enough backbone to tell a realtor, AMC, or borrower to f*ck off because they were placing the appraiser’s license at risk.
    There isn’t a shortage of appraisers, just a shift in where they went. Some appraisers simply got tired of the rising expenses in the business. Appraisers are nickel and dimed to death by insurance costs, software fees, data costs, general office increases, and to top it off, were making $450 an assignment, now lucky to make $300. When it is all said and done, after expenses and the amount of time required to appraise a property properly, an appraiser was lucky to make $15 an hour, in many cases, the AMCs required appraisers to make comments about why this comp wasn’t used or expand on something int he appraisal, to make it appear to the banks that the AMC’s were needed. Those AMC’s would decrease the hourly rate to around $11 per hour,less than most people make at Taco Bell.
    I got so sick of all this BS that was going on that I would comment on blogs, encouraging a boycott till changes were made. The people who suffered most from the financial crisis were the appraisers and we were just doing our job! Why would anyone want to get into a business where minimum wages are barely made, work your ass off, then have to deal with people who complain because you didn’t appraise the property for what they thought it should appraise for in the first place. Blacklisting still occurs, but silently. The AMC’s who would troll blogs for information would blacklist appraisers who commented negatively on the industry, or report AMCs who were paying slow or below market. I have been blacklisted by several AMC’s and banks over the years because I would not keep quiet. Why should I? I’m still in recovery mode for what has happened. I do not work for any AMC’s or Banks, I haven’t and will not accept an assignment for less than what it was before this mess occurred. What makes it even worse is now it takes even more time to complete an appraisal because appraisers are scored by the work, values, turn time, additional request. For someone to say they do more than 30 appraisal a month, I call BS. A typical appraisal will take 6-8 hours minimum time to complete. By using an ipad to sketch and do most of the report, one might be able to shave an hour or so, but it still takes time, more then before. So when I read these things about shortages of appraisers, or how appraisers are doing 50+ appraisals per month, I just shake my head in disgust, not because I am bitter or jealous, but because it is the same BS I have been hearing for years form the same people who ruined the business in the first place.
    Greed has changed the entire industry. The appraisal industry is a joke and people are getting out because they can smell the BS about what a great job appraising is, and you can make big bucks. The ones still in the business are too old to change. What people do not see are the changes that will happen. Automated Valuation Models are already being used in a beta testing. Appraisals are compared to a computer generated value to see if there is a gap in the opinions. The appraisal industry is a dying industry. Banks see appraisers a an unnecessary step in lending. Appraisers jobs are finite and the smart ones know this. The same dumb appraisers who put blinders on, the ones who work for peanuts, do not see this coming, but it is.
    Redlining silently can be done. A quick analysis of a re properties can be made in a matter of minutes. and for what? One fee. One large fee for the software and banks can eliminate the $600 fees they are paying to the AMC and appraiser. everyone saw the greed in 2005, if you do not see this change coming 10 years later, you are an idiot.

    Joe Batrich January 5, 2016 7:33 am Reply
  • Eric and Joe are absolutely correct. The AMC approach and their greed has created the environment that drives new blood and jaded appraisers away from the business. They attempt to micro manage us while offering ridiculous low fees. After 42 years in this business I refuse those that will not pay $500 for my area which is composed of nothing but complex rural reports. When approached by those looking for new appraisers in the area I first tell them of my fees and they keep looking or accept. There is no reason why we all should not be earning compensation equal to the years of training invested except for. Lack of backbone among those appraisers who sell out for something less

    Pat Bange January 5, 2016 7:35 am Reply
    • Joe Quinteros and the others are correct. There is no shortage of appraisers. There is a shortage who will work for below market fees or accept work from many of the AMC’s that are next to impossible to work for.

      David Bain January 5, 2016 9:57 pm Reply
  • Eric and Joe are absolutely correct. The AMC approach and their greed has created the environment that drives new blood and jaded appraisers away from the business. They attempt to micro manage us while offering ridiculous low fees. After 42 years in this business I refuse those that will not pay my minimum of $500 for my area which is composed of nothing but complex rural properties. When approached by those looking for new appraisers in the area I first tell them of my fees and they keep looking or accept. There is no reason why we all should not be earning compensation equal to the years of training invested except for the lack of backbone among those appraisers who sell out for something less. Not only is my fee something I can live with, I have nothing less than 3 weeks of work on my desk at all times and turn work away daily. When this all started years ago, I argued with a MAI who owns of an AMC, that this was going to hurt. His answer then was that in time it would weed out the field leaving it to the survivors, the best appraisers, and eventually higher fees. Hummmm

    Pat Bange January 5, 2016 7:50 am Reply
  • I have been in this profession 42 years, Many years ago when this AMC thing started I argued with an MAI, who owns an AMC, about how all these changes and AMCs were going to hurt the profession. He argued that in time it would weed out the field, leaving the best appraisers and finally resulting in increased fees. In my area of nothing but complex properties, I very seldom accept anything less than $500 and have 3 weeks of work on my desk at all times. In my opinion that still is not enough for the work required. No agency, no AMC, no government is going to improve our situation of not being compensated for the years of training required and give us what we are worth. Appraisers must do it for themselves.

    Old Dog January 5, 2016 8:12 am Reply
  • I agree with most of these comments, there is not a shortage, just a shortage willing to work for fees that don’t allow for a profit. I disagree with some comments that the only thing that needs to change is the fees raised to $400-$450. Banks and AMC’s are trying to pay the same fee for “all” residential properties when we all know that their is a great variance of property types out there. There is also pressure to complete the report within a certain time frame and appraisers are required to answer to non-appraisers who review the work and are more concerned about the appraisal report adhering to their formatting / data rules so the computer can do more of their work and they have to spend less man hours.

    TruthBTold January 5, 2016 8:20 am Reply
  • There are plenty of appraisers. The numbers are down only ten percent from the highs in the mid-2000’s. However, the level of volume is only about 65% of that in the 2000’s. So, yes, there are plenty of appraisers in the pool. But as Joe pointed out above, many are no longer active in the business due to the absurdly low pay. With a recovering economy there are simply better opportunities out there. Most appraisers are keeping their licenses (certification) as it is difficult to get, and there is always that hope that the lending industry will wake up and realize how much damage has been done by the AMC model. Simple economics. Raise the fees, and get more appraisers willing to work for those fees.

    marcus90210 January 5, 2016 8:43 am Reply
  • Yes, the group of appraisers is getting smaller and smaller. One of the reasons is that when FHA made the move to require that all FHA APPROVED APPRAISER be Certified and not just Licensed it created an issue. Not only did FHA make this new requirement then Lenders all followed them. This left many Licensed Appraisers in a Hole. They had to rush to pass the test to get Certified of they would find that no one would send them any work. Many had to pass this test prior to a set date or the 4-year degree requirement would kick in, meaning many older Appraisers without a degree would be tossed under the bus.
    Until that point you could be Licensed and still be FHA Approved as I was. The only difference between being Licensed and Certified was that you could do reports on homes with values over 1M. But in my area that made up about ½ of 1 percent of the homes, thus I never saw any reason to get Certified back then.
    As a Licensed Appraiser I could also work with the newer (Trainee) Appraisers getting into the field. I worked with a large number of them back in 2004 to 2008 or so. Some made it and others dropped out. Now you have to be Certified to work with them at all. A Trainee as you said will need a 4-year degree plus his training time under a Certified Appraiser and that could be between 1 and 2 years. Often the Trainee makes $100 or less (even $0) for reports worked on and this means a long time frame with little to no income. Back when I was Licensed I split the fee with my Trainees $200/$150 on a standard $350 report, but that was not typical even back then.
    Ok, one fix would be to STOP the requirement that a report MUST be done by a Certified Appraiser for most loans. What is the reason for requiring a Certified Appraiser to do a $225,000 Tract Home? Then, STOP the requirement that a Trainee cannot work on and SIGN a report unless it is an FHA Report or a report on homes over that magic 1M mark. When the Trainee works on a report and signs it the Supervisor still has to review and sign the report as well.
    Ok, let’s look at a few of the people that make deals happen. The Real Estate Agents and the Appraiser. A standard home could be $250,000 or $375,000 in my area (use your area numbers). The Agents both make between 2% and 3% on the sale of the home. This works out to $5,000 – $7,500 on the cheaper house and $7,500 – $11,250 on the higher priced house. This is just for the sale of one house. But the Appraiser makes $400 or $450 for his work. And the Appraiser is beaten on by the AMC on EVERY REPORT. Why? The AMC has report requirements that ARE NOT requirements from the Lender, Fannie Mae or FHA/HUD. They have each made up their own requirements and will not send the report to the Lender until the Appraiser gives in on these requirements. They, the AMCs are telling the Appraiser how to do the job and what THEY want to see in the report. This is WRONG. Ok, Back to the Fees. How do we fix this is the next question? Easy, first you remove the control of the money from the AMC. They should ONLY be getting a fee from the Lender for placing the order with an Appraiser. That fee should be whatever they agree to. The Appraiser SHOULD include a copy of the Invoice with the report and the LENDER should have to pay the invoice without passing that money through the AMC. The Appraiser’s Fee should be based on the value, just as the Agent’s fee is. So I would start with half of 1%. Even one third of 1% to start with it moving up to half of 1% say in 2 years.
    What would that look like on our two homes above? Well, the third of 1% would mean the two homes would have Appraisal fees of $833 and $1,250 each. If you use the half of 1% then you $1,250 and $1,875 as the fees. Still far less than the Real Estate Agents make, but much better than what we make now. Most Appraisers could live on what an Agent makes on just 1 sale each month, but most Agents could never live on the average income that you reported for Appraiser’s, that of $60,000 a year.
    TRUE, if Appraisers could get together and go on vacation all for a month at the same time Lenders would cry. If we got it together and all said, the fee for any Appraisal for a SFR is $1,500 they would pay it. But, Appraisers are an unorganized group of independent people. The Lenders all know this and they with the long arm of the AMCs beat the Appraisers into submission or Black Ball them.

    Back to my report, 43 pages, for a remote property. A report I will get $500 for and that the Agents will make $10,950 each on. This just does not seem right. I need a new cup of coffee now

    James the Appraiser January 5, 2016 8:48 am Reply
  • I’ve trained four (4) appraisers in my time. Only one failed. When people now show interest in this profssion; I tell them to “FLEE”. It’s not worth the time nor the hassle. It’s not worth the threat of a lawsuit on each and every appraisal that you do because someone don’t like the value. If I had to do it all over again; I wouldn’t.

    jd1958 January 5, 2016 2:51 pm Reply
  • I know appraisers who ALWAYS made the deal. They did this without care or concern. I did reviews for 5 years and saw reports that were complete fraud. Everyone knew what was going on. The clients looking for inflated appraisals told us up front. They only made money when the loan closed. Everyone knew. No one did anything about it. If the reports were getting really bad, they blacklisted the appraiser. No for bad reports but because the jeopardized the pool. I rewrote reports so the funder could include them in their pools !

    I even called these appraisers and asked them what they were thinking. These people were state certified and acted like it was no big deal. They didn’t care. They made the deal. They deserve what they got ! They made all of look bad.

    Yes, we got killed. It was a failure on our part not to organize and correct the issues. The funders newer sent an appraiser to the State. They didn’t want to get involved. Every appraiser I reviewed should have been sent to the state for incompetence ! We could have cleaned up our act prior to 2005, but no one did a thing. The people that are in charge are not residential appraisers, its the commercial and industrial guys that have the time and they considered us residential guys idiots. And they were right. Now these IDIOTS are gone. Thank GOD.

    Stick to your guns. They need us. And for those of you who say their is no shortage, your wrong, the shortage is out in the rural and far suburban areas. Urban appraisers are the over supply still. That will change in time.

    I did 3 reports for a client. the 1st was scored at 100% correctness. Put me right at the top. The 2nd one, without as revision request was scored at 30%, the 3rd was scored at 100%. WHY….the 2nd one lowered my overall score sufficiently enough as not to be called with assignments….WHY…because of my fees. When I called the company to see why my report was scored at 30%, no one returned my call. WHY…because the put companies with a financial interest in getting the lowest paying appraisers out there, My friend was asked to do a report. 5 minutes from the house they canceled on her. A week later they sent her a revision request, she informed them that that was the job they cancelled on her. A week later another revision request, and again she informed them she was not the appraiser. And again the 3rd week, guess what, yes…another revision request. That’s the problem, they tried to save $10-$100 dollars and delayed the report by 3 weeks.

    Get rid of the management companies, use Alamode to order the appraisals…But wait, the Big banks would lose 100 million a year+++ each in profits from ordering appraisals.

    Right now, they are balancing their equations, as the fees go up in the rural and far suburban these companies NEED to reduce the fees in the urban areas.

    We have lost more than 50% of the appraisers in the past 8 years, and its going to hit the urban guys in the next few years due to the old timers retiring.

    Simple supply and demand people. Get over it !

    Move to gods country and start living life !

    Chris January 6, 2016 5:34 am Reply
  • The problem is that there is becoming a lack of qualified appraisers with so many of the newer appraisers just not having enough experience and/or not enough common sense to do an adequate appraisal. After over forty years of appraising myself and peers agree that the appraisal business has changed over the years; however, the basics remain the same. The major problem is that the government has gotten involved as well as non real estate managers and have set up guidelines and rules that are unrealistic.

    Each home and each neighborhood is different and while an experienced appraiser, once they inspect a home and properly analyze the market, knows why two homes that are comparable in age, size and quality might have different values based on so many other factors that are not easily defined. The Realtors and appraisers do not talk so most appraisers are ignorant as to what is actually happen in some markets and depend on computer models or even underwriters to dictate what type of adjustments are to be considered.

    The shortage of good appraisers is due to fees going down because so many of the newer ones will do the reports quicker, no mater the quality of the quality and quantity of the data, with little attention to an analysis of the data. Then, there is that more and more information and addendums are being required on the forms that increase the completion time. It is argued by those requiring the additional documentation that the appraiser should have the information in ones file; however, it takes time to then take all that information and input into a form. It is why we once did a summary appraisal, now it is becoming a narrative with each and every line reviewed.

    Bob Bryant January 6, 2016 12:30 pm Reply
  • I’m interested in connecting with the appraisers out there who are readily embracing the changing industry and looking at AVMs as a tool to help get the job done faster and with more accuracy, not as a replacement for traditional appraisers. We know that even in a world where an AVM is doing most of the data crunching and valuation work, a human site visit and final review of the numbers and factors will likely always be part of the final valuation process. Verifying condition and quality, is a job that a computer will never be able to do. We should accept that advancing technology is changing the way that valuations are done for several reasons:

    1. A computer can evaluate thousands of transactions and determine trends.

    2. A computer can find true pedigree comparables.

    3. A computer can apply value to the factors and come up with a statistical value range.

    4. A computer can do all three of these things above more consistently, faster and with more accuracy than an appraiser, and without bias.

    At some point though, human eyes have to be put on the actual condition of the property and verify what is truly in place. An appraiser verifying what the AVM assumes and tweaking the final valuation based on the verified condition of the property is a reality that is coming. If this all drives down the price of appraisals, minimizes errors, and speeds things along that is not a bad thing, it is just a reality that the industry has to face. There are going to be plenty who go along with it and lead the change, and the rest will fall away. Fighting change, especially change driven by new technology, is foolish. The advancements in technology, accuracy and efficiency that I am suggesting will revolutionize the way valuations are derived, risk is assessed, and even PMI is priced. If we can shift the risk away from the individual appraiser and over to a much larger systematic AVM, isn’t that a good thing?

    A widely accepted AVM foundation would be a foundation from which all valuations could be derived, and, on average, would produce more accurate results and lower risk. Besides, why should one appraisers successful valuation be ignored by another?
    The current problem that AMC’s where created to resolve is the disconnect between appraisers and values and the inherent problems in truly ‘independent opinions’ that are not proved against an exact financial model and are not restricted to any degree by what other recent appraisers concluded by looking at much of the same data. A true AVM would be a centralized database housing all recent appraisal valuation activity, and by building upon past successful valuations would produce the most accurate and consistent valuations available. Currently though, the broad disconnect between appraisers and finite appraisal methods just isn’t acceptable with today’s technology, and it doesn’t provide the transparency or consistency that the lending industry needs to confidently move forward after the great recession.

    If you are in the industry and believe in the value of integrating appraisers with a centralized database then I’d like to talk to you, because I think that this is exactly what the industry is missing, and what AVM tools won’t solve on their own. A systematic AVM integrated with, and providing the statistically supported foundation for, a human appraiser approving and confirming the final output will statistically prove more accurate, more consistent and more reliable.

    Contact me if you are interested in discussing more, thanks.

    Kallen Kildea July 31, 2016 2:26 pm Reply
  • I believe the best thing for all appraisers to do is to create a unified group at both the state and national levels. I know that there are currently groups like that however it seems, from my perception, many of them have their own agendas. What I noticed in 2005 to 2008 when I first began appraising for my father was the competition and distrust between the appraisers in the local area. It seemed that many of the appraisers in each area looked at the other appraisers as hurting their income earning potential and workload. While that may have been the case in some instances, the inability to communicate with one another and to band together for the greater good of the appraisal profession as a whole, I believe, was the main reason why a large part of the regulations enacted affected the appraisal profession the most (my opinion). When I viewed the Appraisal Institute site, their “about us” page indicated that they advocate for the appraisal industry’s best interest; however, it seems you have to basically be a member of their group in order to receive those sort of benefits. Many of the appraisers out there just don’t have the workload or income earning potential to justify the massive amount of money that is needed to obtain their designation or the annual dues. My belief is we need a group that would allow appraisers to contribute time or money with the common goal of advocating and fighting for ALL appraisers in the nation whether you are licensed, certified, or of some other designation. One of their sole purposes being to fight the AMC’s, Lenders, politicians, and more, who have contributed to our industry being hurt and continuing to be hurt and restricted at all levels of the appraisal process. Maybe have a group of paid or volunteer lawyer that would come to the appraisers aid when an AMC or lender goes about trying to ruin or hurt them. Right now it seems from the complaints seen, many of the appraisers that are black listed or pushed into a corner from the unethical dealings of the AMC’s or lenders are basically on their own when it comes to fighting back. Many of them cannot afford to do anything about it for fear of complete loss of business or financial debt associated with this type of fight and in turn just let it be and move on. THIS SHOULD NOT BE. We should be able to come together and fight as a ONE. As we can see in todays events with the media pushing wide chasms between the people, it has allowed for the politicians and others in positions of power to do what they want as they know that a people divided is much easier to control than a people who act as a whole. This may all just be the ranting’s of a frustrated appraiser or there may already be an advocating group of this sort, but if not, I really believe something of this sort needs to be created, or like others have said, we will all continue to be screwed and in time there will be no ethical appraisers left in the business which would play right into the hands of the people that want to do away with the appraisal profession all together.

    In closing, I had read an article a few years ago about Andrew Cuomo that indicated that as far back as the mid to late 90’s he was trying to put legislation through that would allow AMC’s to be the go between with appraisers and lenders/ clients. The article went on the speculate (if I remember correctly) that he and a handful of people in positions of power, in part, planned or at least wanted the market to crash and or the bubble to burst so that they could then enact their plan. Because I cant remember it all I would encourage others to do a search for this article and read up on it and correct me if I read it wrong.

    I don’t really know where to start in order to organize my idea so if anyone has any good ideas feel free to provide suggestions.

    Jason F September 15, 2016 10:58 am Reply

Leave a Comment

Your email address will not be published. Required fields are marked *

 

Menu Title