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The Appraiser Coach Podcast

Listen while you drive to and from appraisal inspections as Dustin Harris, The Appraiser Coach, gives you helpful tips, tricks, ideas, and principles which will make you a better appraisal business owner. Dustin has been a successful real estate appraiser for many years. As the Appraiser Coach, he has made it his life’s mission to teach other appraisers across the country to also succeed and thrive as real estate appraisal business owners. Join Dustin each week as he keeps you informed with the latest in the appraisal profession, interviews movers and shakers, talks to your peers about what is important to them, and shares with you his secrets to incredible success.

Dec 4, 2016

An unusual pair team up with Dustin to discuss the problem plaguing our future; the plight of the trainee.  Tim Forsythe and Michael Simmons explain the problem and what they are doing about it.   

three and a half years ago

The only debacle is that fees have not gotten high enough for qualified people to want to enter the profession on their own in a free-market type of setting. Once fees hit about $1000 per assignment, then this will all take care of it's self. Any type of intervention will not get the best-and-brightest for the right reasons, but rather another generation of the disgruntled like there has been all along.

What they need to do about the issue is to get fees up and get out of the way. The college degree requirement is a good thing. Having actual experience with a good mentor is a good thing. If you lower the bar for entry, the appraisers will be the first one blamed when greed crashes the market elsewhere... we will still be the lowest bar to attack. 2007-2008 is not that long ago.

Simply getting people into the profession is a red herring and anybody who engages in this argument is not seeing the big picture... which is: the professions has to pay and be attractive enough to get the best people to engage who would otherwise shine in other places. The brightest and best have options - why would they choose this? Figure out how to answer this question and you will have a real solution.

To make appraising attractive, there are two things that are necessary:
1). Fees need to get up around $1000 a report
2). An awesome, well-qualified individual needs to KNOW that they will be surrounded by the same. Smart folks know that there are strength in numbers and when a lowest-common-denominator situation arises, that there will not be any low-hanging fruit to pick off.

All of the current talk around trainee debacle is paving a path to cheaper, lower educated labor... how has that gone for the last 30+ years?

Don Childress
three and a half years ago

It appears to me that the banks/lenders/AMCs changed their stance on trainees when FHA/HUD started requiring Certified or higher appraisers to complete valuations for them. I have spoke to several of the AMCs I complete assignment for and the responses are similar in that it is faster and less expensive using a Certified appraiser from the beginning in case an original assignment is for conventional financing changes to FHA or USDA. They say it is faster and less expensive.

Dave Hohman, ASA
three and a half years ago

Interesting, now that the biz has turned to the appraiser's favor economically, there seems to be a rush to change the quals and requirements so we can once again flood the market with newbees and once again drive down the the fees. What's that definition of insanity????

Don George
three and a half years ago

Always a good way to start the business week, by listening to this production.