Is that appraisal good or bad?

Do your appraisers make mistakes? It’s embarrassing to be wrong especially if its pushback from a reviewer. Determine the productivity and happiness of your (often over-worked) staff. 

Progressive commercial appraisal firms are making a significant investment in technology. Those that delay don’t truly understand the efficiencies gained through implementing software solutions. 

Julia Galef presents Why you think you’re right, even if you’re wrong. She explains the soldier and scout mindsets. The former defends viewpoints at all costs; the latter is motivated by curiosity. Best practice would be to alternate between the two. Too much of soldier results in narrow thinking. Not enough soldier can be perceived as indecisive. 

Scouts are curious, open and grounded. Heather Lanier’s “Good” or ”Bad” are incomplete stories we tell ourselves. She believes that simply identifying everything as “good” or bad” is overly simplistic. 

She discusses the parable about a farmer who lost his horse. 

“The neighbors came over and said, “Oh, that’s too bad.” And the farmer said, “Good or bad, hard to say.” Days later, the horse returns and brings with it seven wild horses. And neighbors come over to say, “Oh, that’s so good!” And the farmer just shrugs and says, “Good or bad, hard to say.” The next day, the farmer’s son rides one of the wild horses, is thrown off and breaks his leg. And the neighbors say, “Oh, that’s terrible luck.” And the farmer says, “Good or bad, hard to say.” Eventually, officers come knocking on people’s doors, looking for men to draft for an army, and they see the farmer’s son and his leg and they pass him by. And neighbors say, “Ooh, that’s great luck!” And the farmer says, “Good or bad, hard to say.” 

As appraisers, we have truckloads of logic. However, moving forward consider a scout mindset. Change the way you feel. Change the dynamic. Feel proud to be an appraiser. Feel confident to buy back your time with software giving time for the analysis. 

Awareness of mindsets can help us see the world clearly. 

Predetermined judgement 

I think in Q4 2021, it’s “hard to say” where our valuation industry is going. There’s a lot of positive things going on, as well as structural issues (like not backfilling with younger talent). I think as a collective group, focusing on growth and abundance mindsets with a give-back attitude is key.  

Hire and train new appraisers, even if you don’t feel like it. Worried they will leave and compete with you? Do it anyway. Too busy to train? Do it anyway. 

Productivity mindset 

Invest money and time to implement productivity software like DataComp Suite to improve your appraisal firm’s ability to produce better and timelier product.  

Soldier or scout? Decide your mindset. Determine your productivity and happiness.