2022 Predictions – Crash or Boom
Crash Or Boom? – As appraisers, we have a Spidey sense that the real estate market is overheating right now. Appraisers worry when they see unsustainable values. Appraisal departments worry about their bank’s collateral. Rising inflation, future interest rate jumps, uber low cap rates, iffy office lease renewals, skyrocketing multifamily rents, industrial fever, construction on a tear, yada yada. Lots of anecdotal evidence, but where’s the tipping point? Identify good fundamentals […]
Why’re appraisers always swamped?
The alligators represent inefficiencies, tedious manual processes and duplicative work. Appraisers have never worked harder, but what makes a successful appraisal department? Too much to do With defined outcomes, you will move away from the chronic condition of, “I’m swamped.” Measure performance by grading your appraisers, measure deliverables and communicate your expectations. Change your leadership […]
Shrinking pool of appraisers
Where’d all the appraisers go? Banks are struggling to find appraisers. Residential and commercial appraisers are extremely busy, charging more and taking a lot longer. There’s a huge opportunity right now, leading to consolidation, small firms rolling up into national firms. Others are being hired by banks taking them out of the fee world. Some […]
Where stress comes from
Do you ever wonder why some appraisal departments seem to run smoothly, while other are reactionary? Stuck in chronic stress. Job dissatisfaction. Stress is the conflict between what you have to do versus what you want to do. The trick is to be purposeful (or lucky) to want to do what you do. Passionate appraisers “How can we cultivate passion around our work or discover an […]
Appraisal Volume
You’re right. Your appraisal volume is overwhelming. “Focus you must, or pain you will feel.”Yoda Confessions of a stressed-out appraiser, “I struggled with managing my time…so I thought. I discovered I wasn’t taking control of my attention and allowed too many distractions.” Carve out time for deep-dive work. What’s going on right now in your head? Scanning this blog for five seconds, […]
Spinning your wheels
What’s the true cost to your appraisal department if your appraisal and environmental platform lacks the reporting you need? If your bank was being acquired, would they keep your current platform? If your department lacks any platform, would managing your appraisal pipeline with Microsoft Outlook and Excel be adequate? Cost of Failed Activity The general rule of thumb is a bad hire is 30% of employee’s first […]
