NAMB President Addresses Our Appraisal Epidemic

11/21/2016
Comments
  • 23 year appraiser here – the amount of work that is required today per appraisal is double what it was before the recession. Now I have to put listings in an appraisal, now I have to fill out a market condition report, now they want photos of all the rooms. These items add hours to an appraisal process. Take these items back out of the appraisal and off the appraisers work load and the appraisal delivery will speed up today with no more cost on the borrower.

    Mark Quackenbush November 21, 2016 5:58 am Reply
  • I stopped working as a fee appraiser years ago because the fees never went up but my workload and technology costs did. THAT is why so many appraisers left the business. Every time a new form was required to be added to our reports, clients whined about any fee increase. In what other
    business do you expect to keep working at the same income for 10-15 years but face rising expenses? It’s complete insanity and once again the solutions being offered are only going to allow less-educated appraisers in the field which isn’t going to be appreciated by underwriters. For the love of reason would someone interview appraisers about the so-called “appraiser shortage”?!!!

    Lara November 21, 2016 6:52 am Reply
  • When you double the workload and cut the fees in half, guys like me run for the hills, and our market just lost an appraiser with 25 years experience and a 4 year degree. I stopped counting after 20,000 reports, so I must have been doing something right. But the constant harassment by the deliberate ignorant mortgage and real estate people ran me off. Hope y’all are happy, you’re getting what you have been begging for for decades. All of the above comments are spot on, but the interview was a load of BS.

    Joe Johnson November 21, 2016 6:58 am Reply
  • I think you’re all right. Appraisals have gotten bigger with a lot more work and that could definitely improve. I’ve also asked fro reports that the AMC hadn’t given to us in a timely fashion (once, just once). I also believe, however, that there even with changes to the amount of work, we don’t have enough appraisers. Just like lending and real estate sales we need a new crop of professionals entering the market. Regulations and perception have stifled new people to take on amy of these careers and that needs to change.

    jeff November 21, 2016 8:00 am Reply
  • The other item is there is no statute of limitations. Everybody else has one. Not the whipping boy (appraiser) Who in there right mind wants to take on a trainee when they are getting ready to get out of the business. I find it interesting that the lender industry talks amongst themselves but never to a group of appraisers.

    Bill Webster November 21, 2016 8:15 am Reply
  • Mr. Kreger is astonishingly uninformed about the appraisal industry, and is clearly taking his talking points from an AMC press release. This is unacceptable for anyone in a leadership position with the NAMB. While there certainly are anecdotal stories of appraiser shortages in various geographic regions, the majority of the country does not have a shortage. There are simply fewer appraisers willing to work for many of the AMCs. You might check some of the appraiser boards for comments from the Oregon appraisers as they mock Mr. Kreger’s assertion that they or anyone out of a two year degree are/can make $250,000 per year. Absurd!

    Additionally, appraisers do not get “re-certified”. If one misses their CE and/or fails to pay for the license renewal then the certification is terminated after X number of years (depends on state), and they need to start all over again. There are indeed many appraisers that are maintaining their licenses, and not practicing simply because of the pay and liability issues. Pay more, deregulate the appraisal process, and you will see plenty of seasoned professionals take up any slack. You certainly are not going to have existing appraisers training any new appraisers in the current environment, regardless of the education requirements. There is simply no incentive to do so.

    Marcus November 21, 2016 9:43 am Reply
  • 25 year appraiser. Planning on another 10 to 15 years in the biz. Mom is just getting ready to retire, at 80…But,… I’m moving to Portland…………. and I’ll cut them a break, $1,000 per appraisal and will give them a 1 week turn time…….Problem solved…..No AMC need apply for the break…….Direct lenders only…..

    joseph tenbusch November 21, 2016 10:25 am Reply
  • Pingback: NAMB president thinks appraisers make $250,000/year as a trainee. | Wisconsin Appraiser

  • You need to understand the thought process that goes into producing a credible appraisal before you can make effective changes. Not just pulling comps. As I see it, no one among the lending and realty groups are willing or able to do that. Reducing experience requirements will only produce less competent appraisers. Any proposed changes by the NAMB are ultimately an attempt to have control of a decision making process by individuals that will say or do anything to make their deals work.

    Divedude November 22, 2016 10:32 am Reply

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