FTC targets North Carolina Fee Survey
North Carolina currently considering establishing set fees for appraisals
Excerpt: According to the FTC, North Carolina’s proposed legislation carries many of the same issues as the laws in Louisiana.
In its comment, the FTC states that the bill’s method for establishing appraisal fees “is not mandated by – and, in fact, may be inconsistent with – federal law.”
The FTC also suggests that the bill “may have the effect of displacing competition for the setting of appraisal fees and ultimately harming consumers in the form of higher prices.”
More info here, including text of the bill, etc. and where to file a complaint.
Louisiana’s reply to previous FTC hassles here:
My comment:I have no idea why the FTC is going after states setting AMC fees. Seems like there are a lot of much bigger problems…
The Next Job Humans Lose to Robots: Real Estate Appraiser
Advances in big data at Zillow and elsewhere are helping automation creep into knowledge-based professions.
Excerpt: Twenty-five years ago, Brian Weaver was told at a seminar that the real estate appraisal profession would be killed off by technology in five years. It didn’t happen. But he now thinks the forecast wasn’t exactly wrong-just early.
The Turbo Charged Appraiser – “Progress Slow on Robot Takeover” – A Blast From the Past by George Dell
Except: This is the headline from an article in the San Diego Union Tribune this morning. The article went on to say, “Data complexities, trust issues, and the persistent need for human input restrain scaled-up automation.”
As a brand-new appraiser trainee, I was in awe of the office and the people. And in particular, the backroom. The backroom was the library and data room. As large as some small homes. It contained data. Lots of data…
Read more at:
My comment: I love these two very different topics!! One is maybe the future and the other looks at data way back in the past from George Dell, stats and data guru!!