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Good morning class

“GTF OUT OF APPRAISING IF YOU VALUE YOUR TIME”

Class dismissed

Bubba, as always you raise several good points.

I think the most critical one is admission by the Appraisal Foundation & Boards that existing versions of USPAP (and presumably all previous iterations) are ambiguous and unclear to state regulators.

Just like honesty and integrity cannot be ‘imposed by regulation’ or governmental fiat, neither can common sense. Regulators look for absolutes because they either lack or are not permitted to exercise professional discretionary opinion.

The end result is ever increasing micro managing of the process…to the point where sound appraisal practices have given way to compliance with overly parsed and unnecessary reinterpretation of regulations by 50 different state’s regulators (plus territories).

Neither FIRREA nor USPAP were designed, intended or written for the convenience of State Regulators. They were written to promote and preserve the publics trust in the integrity of real estate appraisal.

It is the typical bureaucratic reinterpretation over time of fundamental English language, appraisal standards, core principles and even USPAP itself that is eroding the Public confidence.

You see, bureaucrats see no difference between the ‘real public’ and its interests, and their own arbitrary, subjective and clearly confused perceptions of those interests; and their ability to claim “public interest” for their various and sundry misinterpretations.

Almost all states have language that require ALL licensed appraisers to comply with USPAP as the minimum acceptable appraisal standards in those states. Yet those same states rarely (almost never) comply with USPAP themselves when developing or reporting the results of appraisals and their own appraisal reviews in complaints or proposed stipulation agreements for appraisers.

Apparently regulatory enforcement is incompatible with compliance with the MINIMUM acceptable appraisal standards dictated by USPAP and sound appraisal practices.

Let me modify a statement I made about about USPAP updates. ONE change is clearly needed. That is a statement in the conduct and ethics section that notwithstanding any state enforcement agency’s belief or operating rules that they may be exempt from USPAP; that no appraisal or appraisal review by any such state agency that fails to meet ALL requirements under USPAP shall be deemed to be a credible appraisal or USPAP compliance analysis.

They can’t have it both ways. Either USPAP is minimally definitive as a set of standards, or it is not.

No.

Don, I like your idea of a separate course covering the AO and FAQs. But I don’t think we need 7 hours of USPAP every 2 years. So definitely not 14-15 hours!

The online USPAP courses I’ve taken had a quiz after each chapter and a final quiz at the end of each course.

None of these proposed revisions promote public trust. These “draft experts” just won’t give up. They seem to be working on a plan to shorten the remaining economic lifespan of the appraisal profession!

first of all, USCRAP is so vaguely written its absurd. “explain this . . .” , “explain that . . .”. what does EXPLAIN mean anyway? “explain” to new appraiser (lets call him Joe), means what it means to Joe at his time. so lets say new appraiser Joe explains “x” to the best of his knowledge, abilities and skills at that time. ok, fine, then he turns in the appraisal.

oh damn, some home owner just turned in his appraisal to the state because they disagreed with his value.

now what happens? now people with higher appraisal education like a Certified General looks at his report, now one or more people with law degrees are looking at his report, now people with a bunch of initials behind their names are looking at Joes report.

who in their right mind thinks Joe has any chance here?

Joe explained “x” to his best of his knowledge, abilities and skills at his time. the Certified General, the lawyer, the people with the initials behind their name are of course going to say “he needed to explain more”. Joe is immediately screwed because he DIDNT HAVE the knowledge, the skill level or the experience as those other people. well, how convenient. JOE WASNT PLAYING AT THE SAME LEVEL AS THOSE OTHER PEOPLE, but he is getting reviewed by them isnt he?

the definition of “explain” to new guy Joe isnt the same as a CG or a lawyer. but those are the people are are going to be telling Joe if he was right or wrong, and those are the people who are going to be issuing a punishment to Joe because HE DIDNT KNOW EVERYTHING THOSE CG OR LAWYERS KNEW. its a gotcha. ALL OF USCRAP IS A GOTCHA, and when broke departments need to raise money to fund their broke departments, they will getcha if they want to, every time.

news bulletin – USCRAP will NEVER be able to regulate a persons integrity, their honesty, or their ethics, and thats exactly the kind of thing USCRAP tries to do. a person is either ethical or they arent, and a ridiculously written 2″ thick manual will never do anything to change that. Joe may have done the best job he could, he may have done it ethically, he may have done everything honestly, but it wont matter one bit if someone wants to use USCRAP against him, and the way USCRAP is written, it wont be hard to do.

second, USCRAP is nothing but a cash cow at this point for some. its a total waste of time to sit in a class all day every two years, to hear why the word “thee” was changed to “the” in paragraph four on page 17. its ABSURD. its a total waste of time and its a waste of a lot of money for the appraiser. HOWEVER, the people who put on these classes like the Appraisal Institute, are making out quite handsomely with the cost of their over-priced classes and the cost of their over-priced books arent they? but hey, revenue is all that matters, right?

watch and see what happens as the appraiser numbers continue to dwindle in the next few years. soon you will see the class and book costs double and triple, so the class and book providers can maintain their same level of income.  😉

the ridiculousness continues . . . .

The real issue is the AMC’s engagement letters which limit how the appraiser shall develop his or her opinion of value. AMC’s also are not vursed on USPAP, nor do they understand in most cases what they are asking for in the engagement letter.

If I get one more email or phone call asking “what’s your fee and turn time” I am going to scream!

Don, the same questions over and over again are, “what’s your fee and what’s your turn time”. With 15 page engagement letters that either ignore or expand to the point where USPAP is all but meaningless to our clients, education to the truth doesn’t matter for most.

Having taught courses to real estate agents, brokers, and appraisers since 1984, there is very often, very little that is new under the sun when it comes to education. With one exception……..USPAP. I beileve the 7 hour update course is flawed. It should easily be 14-15 hours, and with an exam to at least measure what has been learned, not necessarily to renew a license/certification.

The most common issues that really need revamping, in my opinion, are the subjects withing the Advisory Opinions and the Frequently asked questions. I would like to see a seperate course in those subjects. The most often asked questions I get, and haviung taught in many states, coast to coast, and for many years, are the same questions over and over again as it relates to the AO’s and FAQ’s.

Just wondering if anyone else had any similar concerns?