The Times They Are A-Changin'

[Marco Ruiz]

I recently completed 30 hours of continuing education to renew my appraiser's license. I sat in class with some 50 - 60 other appraisers for three fun-filled days of education and camaraderie. Believe it or not, I actually enjoy getting education in a classroom rather than online when it's practical to do so. I enjoy the opportunity to meet other appraisers and talk shop.

Many of the appraisers I talked to told me that they hadn't received an order in weeks or even months. Many had already taken other jobs. On day two, during a break, I asked the instructor if she would ask for a show of hands as to how many appraisers had either left the business or were seriously considering leaving. When she did, about half the class raised their hands.

In talking to many of these appraisers, I noticed a few things in common.
When I asked them what were they doing to market themselves, they said "Nothing, really." When I brought up important issues facing the industry such as the HVCC, they knew very little about it. When we talked about performing a market analysis, measuring the rate of decline, or extracting adjustments from market data, it was evident that they were struggling with these issues, still trying to do things the same way they had done them for the past 5, 10, 20 years or more.

Like Bob Dylan said, the times, they are a-changin'. The days of sitting in your office and letting the business come to you are over. Marketing is more important than ever. Changes in laws and policies that are affecting our industry are coming at us so fast that those who are not keeping up will be left out. The requirements for appraisers to provide meaningful and defensible market analyses means we can't continue doing things the old way. We need to take advantage of the tools and technologies that are available to us. We can no longer simply rely on the paired set analysis of three sales.

Yes, the times, they are a-changin'. But I see this time as an opportunity for us to improve our skill sets and become better appraisers. I see this time as an opportunity for appraisers to band together and start setting the industry standards for themselves. I see this time as an opportunity for those who are serious about appraising to rise to the top of their profession and set themselves apart from those who are not willing to change.

There are a lot folks who think that there are too many appraisers out there. To them I say, don't worry, they're leaving as we speak. I believe that within a year or two the number of appraisers who are still working in the business will be half of what it is now. But I also believe that if you're not willing to change, you won't be one of them.