More evidence the appraiser profession is dying a slow death

By
Real Estate Appraiser with Appraisal House Texas

Well, in addition to the knife in the back that the HVCC has been for appraisers, we now have a new competitor to contend with.  Apparently now anyone can be an appraiser, according to Equity National.  I received this email today from Valuation Review.

http://www.valuationreview.com/ME2/Audiences/dirmod.asp?sid=270E8EBA5AF64172B917EBD588EDB85A&nm=&type=news&mod=News&mid=5F249E552B2C49509BC41751816632F3&tier=3&nid=0E517FDDC8CA4ECA8CC9969BC6C52AE9&AudID=F0F48C5C19CB47B3A675FD6074A3CB8A&utm_source=vwVRget&utm_medium=email&utm_campaign=VR_Tues_Enews

Basically, Equity National has an AVM that includes data gathered by "a mix of professionals with mathematical quantitative statistical background" (which I can only assume means those not able to be hired at Burger King) that will go out and view properties and take notes to enhance the AVM data.

And you all thought $200 appraisal fees were a slap in the face!  "Hello, we have a new assignment for you.  Please drive 30 minutes roundtrip, measure the house, take photos and notes for 45 minutes, upload the information to our website, and you will be paid $25 in 60-90 days."

 

 

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Show All Comments
Rainer
184,339
Jack Hughes
Hughes Appraisal Group Inc. HUD/FHA Approved) - Lehigh Acres, FL

Are you kidding me ? I can not believe how our industry with all the educational requirements, continuuing education, certifications and USPAP that the Government steps on us like Bugs and rewards the very people that committed fraud. Of course I guess if you're getting large political contributions for Real Estate Lobbyist the appraiser doesn't have a prayer.

Feb 11, 2010 10:12 AM #1
Rainer
198,572
Jesse Skolkin
Independent New York State Certified Real Estate Appraiser - Fresh Meadows, NY

Anyone who lends money or sells properties based upon that useless data will get just what they deserve.  They'll save a couple of hundred dollars and end up losing thousands, if not hundreds of thousands.

Feb 11, 2010 11:01 AM #2
Rainer
20,992
Mike Lay
Appraisal House Texas - Austin, TX

Jesse,

You would think so, but check out this one:  http://activerain.com/blogsview/1486741/conspiracy-theory-at-work

 

Feb 11, 2010 11:06 AM #3
Rainmaker
98,387
Rick Phillips
Frankly Realty - Old Town - Alexandria, VA
I care about you and your transaction.

The old addage still rings true: "You get what you pay for.."

Apr 12, 2010 08:21 AM #4
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Rainer
20,992

Mike Lay

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