Start the Conversation Many commercial appraisers use the word "appraisal shop". I wish they wouldn't. It makes it sound like you're part-time, when in fact many of you've been in your career for a long time. When I hear the word "shop", I visualize a place where you would have your transmission repaired, not a progressive and professional appraisal company. Let's agree you are a professional irrespective if you own the firm or are a staff appraiser.
But why should you care about one of my pet peeves? Well unless you live in a below-grade bunker, you may have noticed that the commercial appraisal industry is changing. I, too, am not a huge fan of change but I realize trying to keep things "the way they are" is like trying to empty a bucket of water with my hands - doesn't work very well.
What got you here won't get you there, by Marshall Goldsmith, is a good read. Even the name itself is a metaphor for complacency. The book focuses on how successful people become even more successful. Commercial appraisers have analytical and detail oriented skills in their DNA but often times don't measure their appraisal career or business. Sure, many appraisers have a general idea of their current production numbers but not much else. The level of detail of "success" from our appraisal brethren is woefully lacking. Like in sports and in money, if you don't measure it you can't achieve it.
Some interesting concepts from the book included a 360-degree feedback, seeking comprehensive assessment of the strengths and weaknesses from the folks you work with. As an owner of an appraisal firm, it seems strange for me to ask my staff appraisers or support staff for honest feedback. However, I suggest you start with an easy question such as, "if you can improve one thing in this office what would it be?" I think you will be surprised by the responses you receive. Engaging your people and creating an atmosphere that allows honest flow of information in your appraisal company will result in some new ways of doing things.
Whether you're the owner of the appraisal firm, reviewer, staff appraiser or support staff, ask yourself how sharp are your skills? When is the last time you had up-to-date meaningful appraisal and technology education? The Mr. Goldsmith spends some time describing successful people who see opportunities where others see threats. Successful people are not afraid of uncertainty or ambiguity. They embrace it. They typically take risks and achieve greater returns. They see themselves with motivation and ability, not just luck.
The current dialogue for commercial appraisers is report writing. It runs the gamut, from a small percentage of you who have wholeheartedly embraced various solutions while others are taking their first steps. However the largest majority of appraisers are sitting on the sidelines waiting for the temperature to be right. I'm here to tell you it's right now. Not tomorrow. Not January 2012.
Implementing appraisal automation solutions such as report writing takes leadership. It involves getting buy-in with your appraisers (and support staff) and setting clear expectations of your people. If you're a staff appraiser and your "boss" won't invest time and money for solutions, then do it yourself. Be a leader even if your name is not on the door. Be successful. As the firm's owner, clean house of cynical or negative folks. Let go of the B and C players. After all, the success of each and every one of you depends on it.
If you would like to join a discussion about this topic or Appraisal Best Practices contact Jeff Hicks.
