Kevin King, Crossroads Appraisal

As an appraiser, now is an interesting time. It is a time of ever-changing and upwardly increasing responsibilities and requirements. Concerns revolve around topics such as the raising of the de minimis, the long and short-term impact of Dodd-Frank, impact of AVM’s, and the fear that much of the bank work that has sustained so many residential appraisers will dry up. These are just some of the concerns and fears, real or imagined, that dwell in the minds of many appraisers today.

The other week I was in a series of meetings in Connecticut with a number of appraisers, both residential and commercial. During a conversation with one of my colleagues, he questioned why so many appraisers are negative about the health of this career. “What we do and the opportunities we have are great. How many careers allow you the freedom that we have and offer the opportunities we have. No one seems to talk about that, or at least talk about it in a non-fear-based way.” I told him he was right, but it was my feeling that much of this is a fear of change. In addition, I feel that too many real estate appraisers see this career as a job rather than a profession.

As a member of the Appraisal Institute, I have been privileged to work with and learn from some of the most professional minds in the industry. The organization and its members are consistently motivated to promote the highest values in real estate appraisal. The organization believes that real estate appraisal is not a job, but a profession where standards need to be not just met, but exceeded. This is evidenced through ongoing education and the continual development of new education covering areas as they emerge. Our profession isn’t going anywhere. The need for qualified and educated experts will always be required. Change, of course, is inevitable as it is in all professions. No profession is immune from advanced technology that does that which was once done by a human being. Architecture, engineering, law and medicine are not practiced exactly as they were fifty years ago, and they will not be practiced as they are today fifty years from now. There are many parts of their education that haven’t changed, but ongoing education, quality education is what keeps these industries vital and effective. So is it true for real estate appraisal. However, for those who approach ongoing education by signing up for the least expensive, most convenient, Continuing Education (CE) classes available, have reason to fear change.

A case in point is the development of education for the appraisal of “Green” energy. This is an emerging area of study that is necessary and on point in today’s world. It is not mandatory that appraisers study this; there is no written document that makes this body of knowledge a necessary requirement to hold a license. To be competent in appraising such properties and evaluating these features however, makes ongoing education necessary. This requires initiative and commitment by the appraiser to seek out such information. Often this education is not convenient and not inexpensive, but the overall mandate for competence that our profession demands requires that such effort be put forth. This is just one of many areas that appraisers need to know and keep abreast of.

Maybe you can’t stop appraisers from being negative or grumbling about one such thing or another, but those who treat this career as a profession, those who strive for the highest ideals of the profession, those who treat education as a necessity, and those who contribute to the greater good of the profession, have no reason to fear.

Kevin King, SRA, is vice-president, Maine chapter of the Appraisal Institute and president of Crossroads Appraisal, Yarmouth, ME.