Poll: Now that we have been living for some time with all the new rules governing residential appraisal, do you still enjoy doing the actual appraisal work?
My comments: Hmmm…. All the analyses (Appraisal Foundation, Appraisal Buzz, etc.) about the appraiser “shortage” don’t seem to mention this. How many appraisers are working for AMCs? Low fees are mentioned sometimes. They also don’t mention the “brain drain” of experienced appraisers not willing to work for AMCs. Many appraisers that I know do little, if any, AMC work.
Who wants more appraisers? AMCs. Supply and Demand. The more appraisers there are, the more the fee competition, and the lower fees.
Once again, they also just look at “appraisers” There few problems with commercial appraiser “shortages” due to the issues above because they don’t work for AMCs, although fees are low in many areas, including where I live. Definitely no trainee problems.
Direct lenders have increased requirements, but you know what they are and don’t get 5-15 pages of “requirements” plus call backs. Yes, there are shortages in rural areas that are not close to a metropolitan area where appraisers travel from (less than 2 hour drive, one way, for example). Shortages of rural appraisers is nothing new. It has always been that way.
I wrote about this issue in the November 2015 issue of the paid Appraisal Today: “Staying positive with unreasonable fees and Scope Creep from AMCs”
I also spoke about it on a Dustin Harris 12/13/15 podcast, “How to Stay Happy as an Appraiser”
Click here to listen