elevate the appraisal industry

Elevate the appraisal industry

I use Google Alerts to search anything in our commercial appraisal industry. Problem is the Google bots that roam the vast Internet can’t find us. Very few mentions. Apparently, commercial appraisers have become ghosts in real estate discussions. “Are we gonna let the elevator bring us down, oh, no let’s go.” Prince’s Let’s Go Crazy lyrics gives us a clue as to how we can recapture our voice and respect. We need to bring some energy to promote our valuation industry.

It’s time for a movement, it starts with change. To move beyond our current “Rodney Dangerfield status” we need to try a few things.

Top 5 Elevate Actionable Items

  1. Promote -generate more marketing
  2. Show up – informally reach out to your peers
  3. Educate – participate as a subject matter expert (SME)
  4. Change – combat commoditization
  5. Celebrate wins – recognize improvement

An easy example are accountants who have significantly repositioned their vertical with diversified products and services. They provide much more than just audits. We seem to be stuck with a one dimensional product; “Here’s your appraisal.”

It’s an exciting time to innovate our valuation vertical. We need impromptu conversations that will ultimately lead to growth. Innovation comes from a lifelong dedication to our valuation craft, but it’s also a creative process.

Some of us are at the zenith of our careers, a long journey to today. That said, there’s a mixed bag of feelings as to our future. Some appraisers are tired, cynical and out of energy. Others would love to see our industry gain back the respect it once had. Leadership is important, and I don’t mean the Appraisal Institute, that’s an association but rather individual appraisers looking to cultivate new relationships with their peers.

For example, we’ve created FIVA (Financial Institution Valuation Advisors). The goal of FIVA is to provide chief appraisers, chief credit officers and valuation managers a resource for appraisal department best practices. Gain professional insights, relevant educational content, frank discussions and networking with peers. This organization is not for fee appraisers, but it exemplifies what we can do.

I would love to get your feedback on how we can elevate our industry. If you’re nerdy (own it) and want some extra credit reading about repositioning products and services, I suggest Obviously Awesome by April Dunford.

Please email or call me with your thoughts. Keep it casual and conversational. Nothing negative. You can’t elevate an industry with a bad attitude. Let’s be positive. Let’s start a movement. Let’s start talking. Be a SME. Be seen. Participate in the conversation. It’s time to elevate.

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