Since appraisal volume has grinded to a halt, it’s a great time to take the time to improve how you order, create or review appraisals.
Appraisers, we’re a funny bunch. When we’re busy, we secretly love it. When things have slowed, like today, we get nervous. Instead of getting anxious, we should double down on productivity.
It’s time to focus on processes (think playbooks), supported by a mature tech stack. Since the average appraiser age is around 60, It’s time to think of your appraiser legacy.
Make a plan, work the plan
Creating value through processes supported by technology is platinum. A ton of valuation knowledge stuck in your head is equal to the price of a cup of coffee. Not much. Transfer and replicability of knowledge is the new standard of value creation.
Here Comes the 60-Year Career written by the Wall Street Journal highlights the concept: “…the traditional 40-year career will become a thing of the past. But that’s going to require a new mindset – and a lot more planning.”
Preserving your story
By leaving a legacy, you’re preserving the hard work and success of your appraisal firm or department for future generations. This can be a source of pride and satisfaction, knowing that your legacy will continue.
Secure the future with a well-planned legacy. Ensure your firm or department will continue to operate smoothly and remain successful. Protect your employees, continue to have a stable source of income and a positive work environment.
Attract and retain top talent, which requires a clear plan for the future. Creating a lasting impact can provide a sense of purpose and fulfillment. A testament to your hard work and dedication as a valuation professional.
If not now, when
Time is what helps us create memories that will last a lifetime. Time is essential for building and maintaining relationships with others. Spending quality time with family and friends, and making meaningful connections with others, helps to create strong and lasting bonds that can bring comfort and joy throughout our lives.
“Three o’clock is always too late or too early for anything you want to do.” Jean-Paul Sartre
Create a solid operational foundation to increase capacity to serve more clients, without sacrificing quality. Stop paying for overhead you don’t need, or worse, have to fire your appraisers.
Do you spend your days plugging leaks instead of focusing on productivity?
What if you could serve your clients from a place of confidence, not reaction and panic?
When things pick back up
When things pick up again, will you say the usual, “I’m swamped?” In our office, we started a productivity game. If you’re in a meeting and anyone says the words “I’m too busy” they have to pay $50 to their favorite charity. You get one mulligan. The point of this game is if you’re too busy, it’s a telltale sign of a big foundational operations problem.
Consider your appraisal department tech stack to include an appraisal management platform like YouConnect. As a fee appraiser, consider a commercial comp database, report writing and workflow like DataComp Suite.
Like training in the off-season, now is the time to get around to all the things you’ve been meaning to get to bring operational efficiency.
It’s never a good time to take time, but it’s ALWAYS a great time to start NOW.
Is this a good time?