AI Ignored the Residential Appraiser
AI all but abandoned the residential appraiser…
I have been a member of the Appraisal Institute (AI) for many years and the organization has always been tilted toward the Certified General Appraiser. I am Certified General and recognized this long ago. I think the education of the AI is the best with no comparison for both residential and commercial and their publications are second to none.
The AI has long neglected the residential appraisers as they sent in their $300 per year. The AI completely dropped the ball starting in 2007 when the crash began. The Appraisal Management Company (AMC) model took over the residential industry and the AI sat on their hands and did absolutely nothing. They completely missed the boat in being an advocate for the residential appraiser.
The AI had the perfect opportunity to increase the ranks of the residential appraisers in the organization. Maybe they thought that 2008 would not last and missed an opportunity. But by 2009 they should have done SOMETHING. From 2008-2013 the residential appraiser was absolutely abused by the AMC model and the AI did absolutely nothing.
I have always been an AI “cheerleader” but in the back of mind I have said for years, “Why are they not doing anything?” Anyone who thinks the residential appraiser abandoned the AI or thinks bad of them has no basis for that opinion as the AI all but abandoned the residential appraiser.
The AI could have partnered with the state organizations that started to form and could have put their name right on those state coalitions if they had any sort of foresight or concern for the residential appraiser.
There should have been no need for state coalitions if the AI had stepped up and made it a national push. There are many people in leadership positions who used to be AI members who have abandoned the AI and for good reason. The AI refused to represent the membership.
In the last year I have been shaking my head at most AI actions from Chicago. The “taking policy” was ludicrous and the push for valuations was just as bad. I think there are great advantages in the AI but at the same time I have to keep asking why they ignored the residential appraiser for a DECADE while the AMCs pushed people out of business, forced them to adhere to unrealistic requirements and created this new world of blast e-mail orders to the fastest and cheapest.
Where was the AI when AMCs started e-mail blasts to 50 appraisers at a time and the one with the “unapproved catch software” got the order? Where was the AI when AMCs encouraged the residential appraiser to cover very large geographic areas? Where was the AI when AMCs started issuing “report cards” to appraisers? Where was the AI when fees were being driven down? Where was the AI when appraisers weren’t being paid? 20/20 hindsight tells us that the AI could have been the organization to take a leadership role and think outside of the commercial world.
Could the AI have warned appraisers about the ES Appraisal debacle or the Appraisal Loft debacle with a mass e-mail campaign back in 2010 or 2011 warning appraisers? Where was the AI when AMCs started requiring appraisers to get over-priced background checks? When did the AI come out and tell appraisers that Joan Trice was selling snake oil?
Where was the AI when Title Appraisal Vendor Management Association (TAVMA) was lobbying for the demise of the residential appraiser? Where does the AI stand with Real Estate Valuation Advocacy Association (REVVA) (the new TAVMA)? Why have they not come out against the “technology fees” charged to appraisers?
The AI dropped the ball, not once, not twice but about 100 times because they did nothing for the residential appraiser in the last decade or two. Is the new “committee” an answer? I sincerely hope it is as I see an opportunity to unite and better educate appraisers. I will continue to support the AI but with reservations. They won’t lose the Certified General appraisers in the next few years but they will continue to lose residential appraisers if they don’t jump in feet first and focus for a couple of years on the residential appraiser.
The AI needs to stop the garbage they have supported and the actions they have taken in the last year and needs to focus on the residential appraiser. They need to keep up the high quality education they provide as well as the high quality publications.
This new committee has a large job ahead of them and if Chicago is not serious about this push then it will fail and the membership of residential appraisers will continue to fall as the residential appraiser spends their money on the state coalitions that are actually doing something.
Timothy S. Evans
Certified General Appraiser
Michigan and Iowa
By Timothy S. Evans, Certified General Appraiser, Commercial, Industrial, Agricultural and Residential Appraisal Services, Monroe Valuation, Inc. – Michigan and Iowa