Be the Labor
 |
Jeff Hicks, MAI
President
Dohring Group RealWired! |
"Granny", my mother-in-law, lives next door to me just like the movie My Big Fat Greek Wedding. I think it's great that she lives next door, though I've had many ask me why I would want to live so close to my mother-in-law. She is a great person, very positive attitude, has a small in-home day care and cooks dinner every Sunday night; the restaurant next door.
Granny cooks Midwestern food; meat and potatoes mostly. Initially it was quite a shock to my system being brought up in Tampa on somewhat more exotic Cuban and Spanish food. She heard through the grapevine that I used to call her cooking "prison food." I would complete the institutional food snark with lateral hand motions of clanking a tin cup across faux prison bars. However, many years later I am quite fond of the food she dishes.
We can learn a lot from our elders if we pay attention. Granny has numerous sayings though my favorite is, "be the labor, large or small do it right or don't do it at all." How often in our personal and professional lives do we cut corners? If you're a male, that urge is probably much stronger to cut to the quick and achieve completion of a project. In the end we all know doing it the second (or third) time is inefficient and ultimately results in more expense and effort than doing it right the first time.
In your commercial appraisal world how many times do you do it right the first time? If you're a staff appraiser, do you assume your internal reviewer will fix all your mistakes? If so, Granny would throw a red bell pepper at your head and tell you, "once the task has begun, don't give up until it's done." Don't be a slacker - someone who prioritizes doing nothing. Nothing frustrates internal reviewers more than getting reports that are late and full of mistakes. On a side note, I plan to get the Appraisal Institute's new reviewer designation. It must be in demand since the first offered course is sold out.
How do you react to external bank reviewers? Do you cross your arms in a defensive posture irritated that somebody dares comment on your work? This is a probie ("beginner" for you NCIS fans) mistake. Essentially, the external reviewer is an extension of your client so it's best to treat them like one. Granny would suggest that you immediately call them back, arms unfolded, with a positive, productive attitude. The reviewers have a job to do. Address their concerns in a timely professional fashion and you will find that your next review might be less lengthy. Often times they may take the time to contact you with praise for your work quality.
Sometimes report errors might be caused by deadline pressures, lack of internal structured review process or weak internal systems. Whatever the reason, Granny and your customers do not find that acceptable. Strive to reduce report mistakes while at the same time increasing your hourly wage. In the end, we as appraisers generally have one thing to sell; our reputation. If your reports are poorly formatted, contain stale data, are full of typos and inconsistent valuations, it is noticed by your (soon-to-be-gone) clients.
You never know where your reports will end up. I was surprised to find out that one of my reports recently ended up being reviewed by the Federal Reserve. The representative of the Federal Reserve said we did a very good job, unlike other appraisals they reviewed with this particular failed bank. Whew. I'm glad I listened to Granny.
