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Moving beyond the 1004: Taking appraising to the next level
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As I go to conferences and meetings across the country, I am hearing the same thing over and over about how this industry is entering a perilous situation, that the appraiser population is aging and there are not any new appraisers to take their place. At the Association of Appraiser Regulatory Officials’ ARRO Spring 2014 Conference held earlier this year, there were discussions about how there are now some rural counties that currently have no appraiser coverage because the former appraiser retired and there was no one to replace them.
A few years ago, when the Home Valuation Code of Conduct (HVCC) was implemented, it was called the “perfect storm” for the industry. Appraisers lost trusted business relationships built over years and were replaced by AMCs that took half their fees and regulations that added more scrutiny to their already heavy workload. Getting “customary and reasonable” fees is still an issue for some appraisers.
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