Recently, there have been many discussions regarding the next generation of appraisers. Where will they come from? Will our profession be extinct? Professional appraisers in the valuation industry are a necessity. Without appraisers who are valuation professionals? Realtors will be providing valuations services. We must remind ourselves that Realtors serve a very separate and distinct service in which they are marketing professionals that are most times advocate for the property or client. An independent opinion of value is necessary.
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Recently we have been talking a lot about what to do with the lack of appraisers entering the profession. We were lucky enough to have the 2013 Valuation Visionary Award Winner, Greg Stephens from Metro-West Appraisal Co., LLC, write a two-part article on training the next generation. Our subscribers flooded us with responses via email and in the comment areas. We wanted to share some of the best to continue to open up this industry discussion. We left all the quotes "as is" but removed any identifying information.
Recently we featured an article from Greg Stephens of Metro-West Appraisal Co. The article discussed the reasons behind the lack of new appraisers joining the industry. It discussed some of the barriers to entry and talked about what should be done to encourage growth in the appraisal population. If you haven't read it yet, catch up with Part One before reading the rest of this article.
Part 1 of 2
With the information sharing that took place during Valuation Expo 2013 in Las Vegas last week I thought this would be an opportune time to finish an article I have been working on regarding the trainee programs. This topic generated a lot of discussion during the conference. The commentary below is Part one, which takes a look at where we are today. Part two will cover the recommended steps to initiate the changes necessary for a successful Trainee Appraiser Program needed to reverse the declining population of appraisers within the industry.
We want to begin by thanking those who responded to our appraisal forms beautification contest. We had some really great submissions and we appreciate you all taking the time to give us your input. They were thoughtful and insightful.
In the middle of the month the Appraisal Buzz asked our subscribers for some of your best ideas for changing the forms you use the most. In return for your help we are offering 3 Full Conference CRN passes to Valuation Expo for the top 3 ideas.
We have gotten a great response so far but there is still time to submit your ideas before the deadline. If you think you have an idea on how to change the forms to make it easier to complete the appraisal process, please send them in to us before the contest submission ends on June 1st.
At the Collateral Risk Network meeting in New Orleans a few weeks ago the primary focus was on development of a new appraisal reporting format. Some referred to it as the “chutzpah” conference. Others thought it was flat out crazy town. And then there were a bunch of leaders who found it the opportunity of a lifetime to effect real change that could potentially dramatically impact the appraisal process and appraisal quality.
We are pleased to announce the Valuation Visionary award winner for 2013 is Greg Stephens of Metro-West Appraisal Co., LLC.