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A Look Inside AI Education: Desktop Appraisals (Bifurcated, Hybrid) and Evaluations Seminar Preview

April 21, 2022 by Appraisal Institute Staff

As developers and reviewers of the upcoming “Desktop Appraisals (Bifurcated, Hybrid) and Evaluations” education seminar, Appraisal Institute Vice President Sandra K. Adomatis, SRA, and AI Past President Alan Hummel, SRA, provide an overview of what attendees can expect to take away in this seminar preview. The pair also dive into the value and relevancy of desktop appraisals to residential and commercial appraisers right now.

Check out the video discussion below!

Sandra K. Adomatis, SRA (SA): Hello everyone, thank you for joining us today as we explore some of the upcoming Appraisal Institute educational offerings that you may be interested in. As you may know, my name is Sandy Adomatis, SRA, and vice president of the Appraisal Institute. I must admit, I’m very excited to bring this information to you today because I’m the developer of the seminar!

For anyone who’s ever taken Appraisal Institute educational offerings, you know that the offerings are rigorously researched, developed and reviewed by practicing appraisers using real-world experience in the residential and commercial space. Today I am joined by Alan Hummel, SRA, and one of our past presidents of the Appraisal Institute, to discuss the Desktop (Bifurcated, Hybrid) and Evaluation seminar. Alan was one of the reviewers for the seminar, and I am so excited that he’s here today. Before I turn it over to Alan, I’d like to give you a little overview of the seminar.

According to a recent news release from Fannie Mae, desktop appraisals are going to be growing in the numbers requested. It’s not going away, so residential appraisers need to have all the information they can to develop a credible report. Desktops are also valuable on the commercial side as well. Appraisers have many questions about them that are addressed in this seminar to provide more information and clarity about this business service…The seminar gives the pros and cons that were voiced by appraisers we interviewed before developing the seminar.

At the end, you’ll have all the information you need to make a good business decision. We’ll review the expectations of alternative appraisal services, their potential uses of appraisal standards as they apply scopes of work and liability concerns that we hear from many appraisers around the country on the residential and the commercial side.

Alan helped significantly in the development of the seminar, so let’s hear from him. Alan, could you share your views on the relevancy of desktop appraisals and evaluations as it applies to appraisers today?

Alan Hummel, SRA (AH): Absolutely. Thank you so much, Sandy. The principle of change is a concept that we as appraisers deal with on a daily basis. We’re providing our services, and as the world changes, so do the process of methods used by so many businesses, including our own appraisal profession.

This seminar is designed for both residential and commercial appraisers to understand…  the relevant assignment characteristics. What do they have to do in order to make that decision? You indicated to participate in desktop appraisals and or evaluations — it’s interesting because part of what we have to understand are those significant federal and state laws that govern the desktops and evaluations used by our clients and all kinds of lending decisions.

SA: That’s great information, but how did how does it become valuable to the everyday appraiser?

AH: First, it helps the appraiser understand the “how” and “why” lenders use these types of assignments within their lending processes for us to better understand what the lender is trying to accomplish. We can make certain that we are providing our services in a manner that’s beneficial to them.

Secondly, learning to identify the appraisal standards, the banking guidelines, the lender requirements, the state requirements… in order to develop a report that meets our USPAP in Appraisal Institute standards for development and reporting. It helps to differentiate between traditional appraisals from evaluations and desktop valuation services.

SA: That’s great information. You’ve touched on some excellent points here, Alan. I’d like to… tell you a couple things that I’m excited about when I was developing this seminar and when I’ve taught the seminar. What I’ve learned from this is that the seminar provides information that is necessary for an appraiser to make that informed decision like you’ve talked about and be able to produce a credible report with confidence that we’ve done the job right. I think this seminar offers that informed information. For us, it’s a big takeaway I see when offering this class as an instructor.

Secondly, the questions and the feedback that you’ll receive from other appraisers in the classroom that are already offering these services that can add valuable information to the text material in the seminar. I’d highly recommend this seminar to appraisers on [both] the residential and the commercial side.

I’m curious — what excites you about this class?

AH: Very similar to what you’ve mentioned, Sandy. The seminar does not advocate for or dissuade appraisers from doing these types of services. It provides examples. It provides the acknowledgement of the rules and regulations that, if an appraiser decides to provide these types of services, they can make a professional and business decision… and maybe, what times they wish to provide these services for what type of clients. But especially, it helps them gain the knowledge necessary to keep them safe and to mitigate liability when providing these types of services.

SA: Wow, what an important point to leave this video on. Yes, that is our goal. We’re not advocating for, or against. We’re just giving you the facts and letting you make the decision that’s best for you.

More about AI education offerings:

See seminar details and registration offerings here.

Learn about other education offerings from the Appraisal Institute here.

Don’t forget to subscribe to the Appraisal Institute’s YouTube channel for future videos on AI education and other association updates you don’t want to miss.

Filed Under: Appraisal Institute, Appraisal Institute blog, Appraisers, Bifurcated, Bifurcated Appraisal, desktop appraisals, testimony, The Appraisal Institute, USPAP Tagged With: AI, AI professionals, AI Vice President, appraisal career, appraisal information, Appraisal Institute, Appraisal Institute blog, appraisal institute education, appraisal services, appraisal standards, appraiser education, Appraisers, bifurcated, commercial appraisal, desktop, desktop appraisals, hybrid, lender requirments, residential appraisal, traditional appraisals, Valuation

5 Tips to Stay in Business

September 4, 2014 by Appraisal Institute Staff

Anyone who has started a business knows that it takes planning, money, motivation and passion. While getting a company off the ground is both exciting and challenging, it also takes a great deal of effort to keep the doors open.

A recent article in Valuation magazine, 9 Signs Your Business Has Stopped Growing, addressed what issues might indicate that a company is sliding. But just because there’s been a slowdown doesn’t necessarily mean the troubles are irreversible.

1. Be in it to win it

Appraisers can take several key steps to help ensure their business thrives including analyzing competition, staying focused and preparing to make sacrifices. Running a successful business takes more than just a good idea and solid professional skills.

Checklist

2. Follow the law

In addition to managing the day-to-day operations, appraisers and other business owners also need to be aware of importantlegal issues such as protecting personal assets and putting agreements in writing. Being aware of potential legal pitfalls, no matter how small they might seem, can help keep business owners out of trouble. [Read more…]

Filed Under: Appraisal Institute Tagged With: appraisal career, managing an appraisal business

How Can Appraisers Develop and Grow Their Businesses?

February 4, 2014 by Appraisal Institute Staff

In the organization’s latest video, the Appraisal Institute invited Donna L.G. Shaft, principal of Professional Business Development, a company that coaches professional service providers on how to develop their businesses and grow their companies, to offer tips for how appraisers can take their businesses to the next level.

AI: Why is it important for appraisers to focus on marketing and business development?

DLGS: I’ve spent more than 20 years working with professional service providers and I Business_Development_Tips_for_Appraisershave a practice of my own, so I know that marketing and business developmentare the active ingredients in every successful business. It’s hard to add one more thing to your day, but that’s the path to success.

AI: Why should appraisers have a business development tool kit?

DLGS: Appraisers need field-tested tools and tactics, which should include social media, websites, testimonials and publications to name just a few. [Read more…]

Filed Under: Appraisal Institute Tagged With: appraisal career, Business Development, market appraisal practice

Appraisers Anticipate Sustained Growth: AI Survey

October 31, 2013 by Appraisal Institute Staff

According to the Appraisal Institute’s 2013 Real Estate Appraisal Outlook,appraisers expect continued growth in mortgage lending appraisals as the real estate market recovery progresses.

arrow_graph_upBecause this represents the primary type of valuation service for a vast majority of realestate appraisers, it should provide some encouragement – particularly to those new to the profession or looking for jobs. Commercial and residential appraisers were in agreement that mortgage lending appraisals present the largest opportunity for growth.

Following that, in order of potential, commercial appraisers see the top areas of growth over the next one to two years as land valuation, litigation valuation/forensic appraisal, real estate consulting (fee-based) and right-of-way/easements. Residential appraisers predict that review appraisal services, real estate owned/foreclosures/short sales, litigation valuation/forensic appraisal and land valuation will provide the most opportunity. [Read more…]

Filed Under: Appraisal Institute Tagged With: appraisal career, appraisal employee, appraiser survey, appraiser trainee, Appraisers, survey, survey results, valuation professionals

Appraiser Trainee Hiring to Remain Weak: AI Survey

August 14, 2013 by Appraisal Institute Staff

Hiring of real estate appraiser trainees will remain weak for the next one to two years, according to an Appraisal Institute survey released July 17.

About one-fifth (21 percent) of commercial appraisers said they would add full-time trainees; fewer than one-tenth (9 percent) of residential appraisers said they would do so, according to the survey of U.S. real estate valuation professionals conducted in May and June. Commercial appraisers account for less than one-third of practicing U.S. appraisers.

[Read more…]

Filed Under: Appraisal Institute Tagged With: appraisal career, appraisal employee, appraisal employees, appraiser trainee, survey, survey results

Live from AI Connect 2013: July 24

July 24, 2013 by Appraisal Institute Staff

daily_recap_header

Check out the blog each evening while you’re at the 2013 Appraisal Institute Annual Meeting for a recap of the day’s happenings and highlights. [Read more…]

Filed Under: Appraisal Institute Tagged With: AI Connect, AIConnect, appraisal, appraisal career, Appraisal Institute Annual Meeting

Appraisers Optimistic About Future: AI Survey

July 17, 2013 by Appraisal Institute Staff

More than three-fourths of U.S. real estate appraisers  are very or somewhat positive about the demand for their services over the next one to two years, according to  an Appraisal Institute survey released July 17.Survey Excellent

Eighty percent of residential appraisers and 78 percent of commercial appraisers said they are upbeat about their future, according to the survey conducted in May-June.

[Read more…]

Filed Under: Appraisal Institute Tagged With: appraisal career, Appraisal Issues, appraisal services, appraiser survey, survey, survey results

Pros and Cons: Employees vs. Independent Contractors

July 12, 2013 by Appraisal Institute Staff

Because many appraisers are self-employed or run small businesses with few staff, recruiting and staffing employees can present a unique set of challenges.

Business owners must determine whether to hire appraisers as employees of the company or as independent employment_agreementcontractors. According to a recent article in Valuation magazine, businesses are increasingly taking the independent contractor option whenever possible due to the significant savings and flexibility for the employer. [Read more…]

Filed Under: Appraisal Institute Tagged With: appraisal career, appraisal employee, appraisal employees, independent contractor, independent contractors, IRS, worker classification

3 Ways Hiring a Trainee Can Help Your Business

May 20, 2013 by Appraisal Institute Staff

It would likely come as no surprise to most appraisers at this point that with the changing demographics and aging of the valuation profession, attracting the next generation remains crucial to the future. With the many opportunities for employment and continued growth, the benefits for those considering pursuing an appraisal career are clear.

[Read more…]

Filed Under: Appraisal Institute Tagged With: appraisal career, appraiser demographics, appraiser education, appraiser trainee, college graduates, trainee appraiser, young appraisers, younger valuation professionals

Early Registration Closes May 18 for AI 2013 Annual Meeting

April 30, 2013 by Appraisal Institute Staff

Appraisal Institute Vice President M. Lance Coyle, MAI, SRA, reveals details about this year’s Annual Meeting that will be held July 23 – 25 at the Hyatt Regency in Indianapolis in the organization’s latest video.ai_2013_annmtg_shaking_hands

At this year’s Annual Meeting, attendees will have the chance to experience more than 30 first-class education programs, including the chance to earn up to 16 hours of Appraisal Institute continuing education credit and state credit.

 

Attendees will also find plenty of opportunities for networking with their peers, exhibits of cutting-edge valuation products and services, an exciting awards program honoring some of the most accomplished individuals in the valuation profession and a wide variety of fun activities throughout the Indianapolis area. [Read more…]

Filed Under: Appraisal Institute Tagged With: AI Connect, Annual Conference Indianapolis, Annual Meeting, Annual Real Estate Appraiser Conference, appraisal, appraisal career, appraisal company social media, Appraisal Institute Annual Meeting, Appraisal Institute blog, Indiapolis Conference

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