http://www.realestateappraisertips.info/ - Real Estate Appraiser Tips: Lamarr Banks: How HVCC Eliminates Concept Of A Profession Being Independent?
This is a post to the TheNicheReport.com entitled Two Years From Now by Lamarr Banks that asks several great questions.
Editor’s Note: I don’t know about you, but as 2010 progresses, I’m asking myself the same questions Lamarr is asking – mainly about the relevance of home appraisers going forward and our ability to make a decent living. This is part of the reason you all are seeing less post and time spent on this blog by me in 2010, because I’m developing some income sources outside of the appraisal business to try to maintain my standard of living “Pre-HVCC”. While I applaud the efforts of those declaring of war on BPOs, I wonder if it’s too little too late. Again, I do thank them for their efforts.
Less Posting in 2010. Also, since this site began in January of 2009, I’ve devoted approximately 10 hours per week to it, which is 10 hours I could have been devoting to building my non-lender appraisal business clientele. I’ve gained an incredible amount of respect to those that maintain authority blogs – the time it takes to read industry news, keep up with the trends, be familiar with all points of view, figure out what fence each appraisal software is on, figure out the politics of each sponsoring organization of national appraisal conferences (their agenda) and the politics that plays into it all….not to mention the money invested in attending conferences to report on the industry. Appraisal Scoop, Appraiser Active, The Matrix…..and the list goes on and on of those national appraiser blogs that try to help our profession. These are passions of the editors and a great deal of time is involved outside of their actual appraisal businesses where they receive 100% of their compensation. It was my hope in beginning Real Estate Appraiser Tips that appraisers would support the site with both their time in commenting, tips, articles and interviews and supporting it financially as well for my time involved. I will continue to maintain Real Estate Appraiser Tips Dot Info to some extent, but have turned my attention in 2010 back to my own local appraisal blogs where, since 2006, I’ve always received the greatest financial reward for my time involved from my own local housing market. Since HVCC, each appraisal now adds at least 1/3 more time. With lower appraisal fees and more time to complete appraisals into 2010, I must maximize my financial reward for my time as there are only so many hours in a day and week. I do sincerely thank you for your time and support! Bill Cobb
TWO YEARS FROM NOW
“With all the new changes that have happened in regards to being an independent appraiser, I wonder what will be in store for me two years from now?
Will I receive work only from appraisal management companies for appraisals to be used in lending transactions?
Or will I be able to go back to marketing myself to Realtors, Brokers and lenders?
What will my actual pay or portion of the AMC’s fee be in two years?
If my pay is less than $200.00 per appraisal, how can I continue to pay for my yearly expenses (E & O insurance, continuing education, license fees, appraisal software, MLS data services and title services)?
Will appraisers in two years be viewed as a problem in the lending process that needs to be removed?
Will Broker Price Opinions be the norm in establishing valuations for real property?
Will automated valuations be the norm in establishing valuations for real property?
I personally feel, two years from now, the ability for me as a real estate appraiser to earn a living will not be possible. Two years from now, I will have to have another part time job or even a full time job to earn a living.
Two years from now, my ability to receive appraisal assignments from lenders may be restricted to how many AMC’s I am listed with.
Think about this, instead of “appraiser” being the operative word here, replace it with “Mechanic”, “HVAC Repair person”, “Plumber”, “Contractor”, “Home Inspector”, “Healthcare Professional”, “Dentist”, ……….etc.
Will HVCC become the standard working model that eliminates the concept of a profession being independent? Take a look at the National Healthcare program. Does that not appear to eliminate a medical professional’s ability to work independently? Isn’t it close to that now?
Something to think about…..
Sincerely,
Lamarr C. Banks”
About Lamarr C. Banks:
Website: Lamarr Banks CA Appraiser
“Lamarr is an alumni of the Delta Chi Fraternity of Cal State Fullerton, President of the Black Business Network of Orange County, a member of the City of Orange Chamber of Commerce, a former Ambassador for the Chamber of Orange, former President of the Orange Chamber Ambassadors, Ambassador of the year for the Chamber of Orange 2007 and a member of the Orange Chamber of Commerce Executive Board.
Lamarr has been in the Real Estate Appraisal business since June of 2001. During the Real Estate boom years, Lamarr covered most of the greater southern California area. Lamarr is currently licensed at the Certification level and is approved to do FHA appraisals.”
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Lamarr Banks: How HVCC Eliminates Concept Of A Profession Being Independent?
by http://realestateappraisertips.info/ on February 15, 2010
This is a post to the TheNicheReport.com entitled Two Years From Now by Lamarr Banks that asks several great questions.
Editor’s Note: I don’t know about you, but as 2010 progresses, I’m asking myself the same questions Lamarr is asking – mainly about the relevance of home appraisers going forward and our ability to make a decent living. This is part of the reason you all are seeing less post and time spent on this blog by me in 2010, because I’m developing some income sources outside of the appraisal business to try to maintain my standard of living “Pre-HVCC”. While I applaud the efforts of those declaring of war on BPOs, I wonder if it’s too little too late. Again, I do thank them for their efforts.
Less Posting in 2010. Also, since this site began in January of 2009, I’ve devoted approximately 10 hours per week to it, which is 10 hours I could have been devoting to building my non-lender appraisal business clientele. I’ve gained an incredible amount of respect to those that maintain authority blogs – the time it takes to read industry news, keep up with the trends, be familiar with all points of view, figure out what fence each appraisal software is on, figure out the politics of each sponsoring organization of national appraisal conferences (their agenda) and the politics that plays into it all….not to mention the money invested in attending conferences to report on the industry. Appraisal Scoop, Appraiser Active, The Matrix…..and the list goes on and on of those national appraiser blogs that try to help our profession. These are passions of the editors and a great deal of time is involved outside of their actual appraisal businesses where they receive 100% of their compensation. It was my hope in beginning Real Estate Appraiser Tips that appraisers would support the site with both their time in commenting, tips, articles and interviews and supporting it financially as well for my time involved. I will continue to maintain Real Estate Appraiser Tips Dot Info to some extent, but have turned my attention in 2010 back to my own local appraisal blogs where, since 2006, I’ve always received the greatest financial reward for my time involved from my own local housing market. Since HVCC, each appraisal now adds at least 1/3 more time. With lower appraisal fees and more time to complete appraisals into 2010, I must maximize my financial reward for my time as there are only so many hours in a day and week. I do sincerely thank you for your time and support! Bill Cobb
TWO YEARS FROM NOW
“With all the new changes that have happened in regards to being an independent appraiser, I wonder what will be in store for me two years from now?
Will I receive work only from appraisal management companies for appraisals to be used in lending transactions?
Or will I be able to go back to marketing myself to Realtors, Brokers and lenders?
What will my actual pay or portion of the AMC’s fee be in two years?
If my pay is less than $200.00 per appraisal, how can I continue to pay for my yearly expenses (E & O insurance, continuing education, license fees, appraisal software, MLS data services and title services)?
Will appraisers in two years be viewed as a problem in the lending process that needs to be removed?
Will Broker Price Opinions be the norm in establishing valuations for real property?
Will automated valuations be the norm in establishing valuations for real property?
I personally feel, two years from now, the ability for me as a real estate appraiser to earn a living will not be possible. Two years from now, I will have to have another part time job or even a full time job to earn a living.
Two years from now, my ability to receive appraisal assignments from lenders may be restricted to how many AMC’s I am listed with.
Think about this, instead of “appraiser” being the operative word here, replace it with “Mechanic”, “HVAC Repair person”, “Plumber”, “Contractor”, “Home Inspector”, “Healthcare Professional”, “Dentist”, ……….etc.
Will HVCC become the standard working model that eliminates the concept of a profession being independent? Take a look at the National Healthcare program. Does that not appear to eliminate a medical professional’s ability to work independently? Isn’t it close to that now?
Something to think about…..
Sincerely,
Lamarr C. Banks”
About Lamarr C. Banks:
Website: Lamarr Banks CA Appraiser
“Lamarr is an alumni of the Delta Chi Fraternity of Cal State Fullerton, President of the Black Business Network of Orange County, a member of the City of Orange Chamber of Commerce, a former Ambassador for the Chamber of Orange, former President of the Orange Chamber Ambassadors, Ambassador of the year for the Chamber of Orange 2007 and a member of the Orange Chamber of Commerce Executive Board.
Lamarr has been in the Real Estate Appraisal business since June of 2001. During the Real Estate boom years, Lamarr covered most of the greater southern California area. Lamarr is currently licensed at the Certification level and is approved to do FHA appraisals.”
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