In my coaching sessions, I often get this question, “If a new founder took over your company, what’s the FIRST thing they’d change?” Insert your role as chief appraiser or appraisal firm owner and ask yourself the same question.
This question puts pressure on us, where in our hearts we know we aren’t doing 100% of everything right.
I’m always looking for ways to improve my efficiency and effectiveness. One of the things I’ve found to be most helpful is creating a “not to do” list.
The best way to create this list is to ask great questions.
Important Work First
Important work first, should be your mantra. If not, your day is likely filled with low priority “to do” tasks. If you took a hard look at these tasks, it’s likely they can be delegated, deferred, or perhaps ignored.
A not to do list is just what it sounds like: a list of things you’re not going to do. It can be anything from tasks that you don’t have time for to tasks that you’re not good at.
Appraisal Institute Question
The Appraisal Institute sent out a recent survey asking what background, characteristics and skillset the next AI CEO should possess. My answer was tethered to entrepreneurial, productivity and change master. Someone with experience disrupting another industry would be amazing.
I also believe that, just like a not to do list, this person should be outside of our field. I think that an effective CEO would be someone that’s NOT an appraiser.
Someone outside our valuation industry would be much more likely to ask different questions. Someone other than an appraiser is likely to ask the harder questions that lead to change.
5 Not To Do’s For Valuation
- Let’s not keep creating 150+ page appraisals.
- Let’s not have so much boiler plate, instead more insightful analysis.
- Let’s not stick with the same education path, more alignment with Gen Z.
- Let’s not keep using our own report format.
- Let’s not resist, get the best appraiser per property type to create common formats.
Tasks that don’t drive results
Get out a piece of paper and a pen, list out ALL the things you do.
Creating a not to do list can be a challenge, but it’s worth it. Here are a few tips:
- Start by making a list of everything you do on a regular basis.
- Then, go through the list and cross out anything that you don’t enjoy doing or that you’re not good at.
- Be ruthless! Don’t be afraid to cross out even the most important-sounding tasks.
- Once you have your list, review it regularly and make changes as needed.
A not to do list can be a powerful tool for improving your productivity and focus. It can help you to avoid wasting time on tasks that don’t drive results.
Embracing the new
Create room for something different. As chief appraisers, you juggle a lot: regulatory changes, independence and objectivity, keeping up with technology, collateral protection, lender push back, bias claims, etc.
Let YouConnect do the heavy lifting using a centralized platform to manage appraisal orders, track progress and communicate with all parties involved. Improve your bank’s risk management, such as automated due diligence and quality control.
For commercial fee appraisers, using a comp database, report writing and workflow like DataComp Suite would buy back your time.
Don’t let unnecessary tasks and distractions derail your success. Create a not to do list and focus on what’s important.
Start by stopping your low-level tasks today.
Focus on the things that matter most.
You have the power to stop.
