Monday, November 14, 2011
Will Real Estate Appraisers become obsolete in the near future?
BPO's are not an appraisal, banks and Mtg companies are not allowed to lend on BPO's. The problem is not BPO's but the Federal Government and AMC's who have reduce appraisers to minimun wage by taking 30%-50% of our fee's and requiring more research and more forms to complete for the appraisal. Who wants to take 2 years to get the training and spend thousands on cles and insurance, MLS fees, software to make $15.00 an hour. Trainees are not allowed to do appraisals by them self. If you take a AMC fee of $250 to $300 and pay a Trainee 1/2 the fee and it takes 12-18 hours to due an appraisal, who can live on that. Appraiser will become obsolete, but not due to BPO's, it will be because of the low fees paid to appraiser.
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