question of the month

Top Appraisal Skills to Sharpen in 2021

What New Year’s goals do you have for your appraisal business? Last month we asked our community of real estate appraisers, “What appraisal skill would you most like to improve in 2021?” The top answer was “adopting new technology,” and the three runners up were “obtaining new clients,” “staying up-to-date on industry and market trends,” and “time management and efficiency.” …

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What New Appraisal Specialty Do You Wish to Break Into?

Developing an appraisal specialty is a great way to grow your business and stay competitive in the industry. Last month we asked our appraisal community, “What new appraisal specialty or niche would you like to break into?” Below, we share the results regarding which specialty areas appraisers are most interested in pursuing. The top three answers were review appraisal, commercial …

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Do You Plan to Hire a Trainee Appraiser? Why or Why Not?

We recently asked our real estate appraisal community, “Do you plan to take on a trainee appraiser in the next 5 years?” About half of survey respondents said no, while the other half said yes or maybe. To gain further insight into these answers, we asked the same appraisers to explain, “Why or why not?” Read their comments below. Do …

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The One Business Skill Every Appraiser Needs to Master

We recently asked our appraisal community, “What ONE business skill does every appraiser need to master?” By far, the most popular answer selection was “delegation and time management.” According to real-life appraisers, several business skills are important. But time management, in particular, is essential for building a successful career in real estate appraisal. What ONE business skill does every appraiser …

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The Most Challenging Part of the Appraisal Process

Previously, we asked our real estate appraisal community, “What’s your favorite part of the appraisal process?” The top three answers we received were “Data collection and property description,” “Data analysis,” and “Application of the approaches to value.” This time, we asked appraisers, “What part of the appraisal process do you find the most challenging?” Interestingly, “Data analysis” came out on …

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Which Appraisal Clients Make Up the Majority of Your Client Base?

What types of clients do property appraisers serve? Do most of their assignments come from lenders vs. non-lenders? To help answer these questions, we recently asked our real estate appraisal community, “What type of appraisal client makes up the majority of your client base?” While most appraisers said that the majority of their work comes from lenders (most often through …

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The One Thing That’s Most Often Overlooked by Appraisers

We recently asked our appraisal community, “What’s the ONE thing that is most often overlooked by appraisers?” We received a wide variety of answers ranging from big-picture oversights to specific details. The most common answer we received was “Highest and Best Use.” However, many real estate appraisers had other opinions regarding the most commonly overlooked item in an appraisal. Read …

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These Fictional Luxury Homes Would Be Really Fun to Appraise

If you’re a real estate appraiser looking for an exciting new challenge, luxury home appraisal is a desirable niche to consider breaking into. Just for fun, we recently asked our appraisal community, “Which fictional luxury home would you want to appraise?” Answer choices ranged from Tony Stark’s ultra-modern Malibu mansion from the Iron Man movies to the English Jacobean manor …

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