Nope. The survey is from Appraisal Foundation, it was standard to their subscribers list.

Cultural competency…. Like how we do not get to pick and choose our individual customers if we work mortgage lending, and are held to very high standards through multiple checks and balances and regulatory bodies. Providing acceptable service for anyone and everyone the lender may put us in touch with or we get sued and washed out in a heartbeat? One wonders if the amc individual employees could hold to such a standard, with their hands in the cookie jar all day.

You have to answer NO to get to the survey.

The following (linked) article is exceptionally offensive to everyone in the real estate business and related sectors who actually know what they are talking about. People that are not racists, and who are offended at being falsely called racists directly or by inference.

REDFIN executives ought to know better than to permit their name to be associated with such levels of reckless dishonesty, deception, and misinformation.

Hopefully, the marketplace will ‘reward’ them appropriately.

Pay attention to the statements “after adjusting” for all significant differences. Which is then refuted further in the article by their own comments. They clearly have not adjusted for all market significant claims.

Frankly, it doesn’t appear that they have adequately adjusted for any of the differences using any nationally or internationally recognized real estate appraisal approaches. Certainly, none were disclosed. No methodology was identified. No credible reconciliation of data was provided.

Buyers of real estate in ALL instances consider LOCATION to be a huge factor. The old adage about location, location, location being the three most important considerations in buying real estate still applies.
Yet Redfin is largely dismissive of the influence on value of proximity to parks; & makes absolutely unfounded broad sweeping generalizations concerning funding for school districts based on race (that is ILLEGAL in California).
They then go on to admit the only city they considered crime rates for was Chicago!

Ostensibly because all the other cities lacked adequate data! Another outrageous assumption. More likely that the results from such analyses failed to support their spurious allegations and contentions.

It’s doubtful they were able to properly account for other major locational factors such as frontage to busy traffic streets, alleys, adverse commercial or industrial uses nearby, rail lines, airports, public transportation, incompatible land uses, or neighborhood reputations evidenced by excessive graffiti or ‘Detroit style’ visible abandonment.
Since Chicago is mentioned by Redfin, what percentage of value loss is attributable to proximity to any of the meat rendering plants there, or associated odors?

On the other side of the location coin are positive or beneficial locational characteristics. Do Chicago residents place a premium on overlooking the Lake or other waterways?

The reputation for responsiveness and adequacy of protection by police, fire, and other emergency services is a big concern to many people. The perceived quality of local political leadership is also an issue. The latter category has been demonstrably lacking in Chicago leadership for decades.

Contrary to demands by limited self-serving groups with their own agendas, MOST Americans (all races) WANT good police protection. Most Americans do NOT want police departments ‘defunded’.

Most Americans will NOT pay a premium to live in areas like “Chaz” or “Chop” or other areas where city leaders have abdicated their obligations to ‘protect & serve’.

Most Americans don’t pay location premiums to live in neighborhoods where needles or human feces line the streets.

Most Americans don’t want to have to explain to their kids why ‘the ladies’ (or the guys dressed like ladies) are always standing on the street corners and talking to people in all the cars that stop by.

Automated ‘valuation’ modeling and systems have long been known to be inadequate for accurate market value analysis. They fail to account for MANY value-related factors that simply cannot be quantified scientifically. What part did these play in Redfin’s incompetent and spuriously inaccurate development of incorrect conclusions?

The value of an ocean view across the street is one such characteristic. While science or pairing MAY produce a broad range of possible value contributions for such a view, the DEGREE to which the view is valued in the specific marketplace is subjective and requires local expertise and experience. In short, it requires the ‘artful’ application of valuation techniques. Whether done by a competent agent or an appraiser.

REDFIN apparently (clearly?) had an agenda to promote. That of purported systemic racism in America. They were not about to let facts to the contrary or knowledge of recognized valuation techniques interfere with their narrative.
It never ceases to amaze me that the only people that can identify purported value disparities in entire neighborhoods are people with zero appraisal qualifications, integrity, or credibility.

Value disparities that cannot pass even cursory factual analyses. The article is full of unsupported claims & contentions.

It’s one thing to identify, acknowledge & alleviate real racism in America. It’s quite another to perpetuate a lie. Society cannot correct that which was fabricated in the first place.

States with mandatory USPAP compliance regulations in place should take legal action against the author and sponsoring company for the appraisal conclusions being offered without any degree of competency.
No permission is required for reprinting this post provided it is posted accurately & in its entirety.

Michael F. Ford, AGA
General Certified Real Estate Appraiser
V.P. Special Projects & Chairman
National Appraiser Peer Review Committee
American Guild of Appraisers
#44, OPEIU, AFL-CIO

PRESS.REDFIN.COM
Redfin Study: Homes in Black Neighborhoods Are Undervalued by an Average of $46,000 | Redfin Press Center
https://web.archive.org/web/20220314145007/https://press.redfin.com/news-releases/news-release-details/redfin-study-homes-black-neighborhoods-are-undervalued-average

(If the above link doesn’t copy to this post it can be viewed on my FB page) https://www.facebook.com/mike.ford.58910

Yeah but you can just skip that entire argument Philly.

The financial incentive of not being forced to share with an amc is enough.

Fees continue to be moved upward voluntarily these days.

I was telling my appraiser pal about these $950 orders for just 1004 and rental, telling him to jump in. He’s already out but did say; I knew if I hung on another 20 years, something would eventually give.

Still not enough to keep up with the pace of realty and other employment factors though.

Still seeking the exit myself and never did even try to train anyone. If they’ve read my reports through review or something, that’s enough. Here is your license, this is how you do it, good luck you’re going to need it. The irony of some of the most destructive big name amc’s claiming their ventures are not strictly profit driven. If culture is ripping people off left and right without restriction, they’ve certainly got a lot of that.

For those that do, you have a tremendous opportunity at your feet. Imagine if as a whole every appraiser/vendor refused to take this course. I understand why, it will not occur and make no judgement on your decision, but it is an opportunity to stand up for our profession and expose our oppressors.

https://video.foxnews.com/v/6247076716001#sp=show-clips

https://theglobalherald.com/news/gutfeld-on-cancel-culture-targeting-tv-show-hosts/

https://www.judicialwatch.org/press-releases/co-voter-rolls/

Judicial Watch offers a physical printed magazine monthly, to your mailbox, with a small member donation.

Woke culture is a fantasy, a purely destructive force, absent of logic and reason, rooted in emotion.

Amrock, formerly known as Title Source (TSI). I’ve identified the root cause of your concerns, and problems.

Great point. They will be adding a fee and call it an “EDUCATION” fee on top of the portal, maintenance, technology, upload, etc., fee’s they already charge. And appraisers will just say “I’ll add it to the fee I charge them”…..and it will never stop until we all have Fee Fee’d our way out of being appraisers.

Sincerely, Mr Unapologetically White

Seek the truth.

It’s odd that they require diversity training, yet continue their own purported gender-based discrimination against certain female appraisers. Maybe they should focus on that too?

In any case, pandering or prudent sensitivity, ever since the White House OFFICIALLY announced that the federal government has been guilty of systemic racism in its housing and infrastructure development policies it is wise for any lender or associated services to start jumping through the hoops just as if we had never heard of equal opportunity or fair housing or prohibited bias throughout our careers.

Insulting? Certainly. Necessary? Also yes, though not for the reasons that are promoted.

Well played Black Knight. Promote a narrative of appraisal bias to market your alternative bifurcated product, complete with YOUR pre selected ‘comps’. Just be aware that YOUR so-called ‘SCOUT” program is under very close scrutiny. So far it appears to be a massive “fail”.

Today’s satire becomes tomorrow’s woke demands…

There’s a sucker born every second!