5 Trends Every Appraiser Should Watch for in 2019
January 2, 2019 |
To be ahead of the real estate market, seasoned appraisers cannot afford to become stagnant regarding the current trends. They must get out in front of them if possible to maintain that advantage edge. In this article, we’ll discuss several trends that are prone to have an impact on the appraising industry. By the end of this article, you’ll have a clear advantage on the upcoming climate.
Integration Of New Technology
The implementation of new technology should be at the top of an appraiser’s priorities list. This will help increase accuracy and efficiency. Having the ability to manage, as well as keep track of, leads and orders from a single location is priceless for busy appraisers. Simplifying the appraisal process from the creation of the order, down to the final delivery of the appraisal report, is what using a great software program can do for you.
Document Management System
Having the ability to manage, store, and organize your documents electronically, can save you a lot of unwarranted obstacles. Imagine using electronic filing that organizes your paper, as well as digital documents from a cloud-based system. Now that’s an example of efficiency at work. No more lugging around paper documents with the implementation of a reputable document management system.
Wouldn’t it be easier to collect data and analyze it at a later date? Well, this is what seasoned appraisers have done. By utilizing their vehicle as a mobile office, appraisers can do various tasks expeditiously such as accessing neighborhood comps, analyzing appraisal data, and sending reports directly to clients.
A prominent tactic in many property assignments is something called hybrid assignments. This involves receiving an appraisal assignment that’s been inspected by someone else but has to be appraised by an actual appraiser. This is where you as the appraiser, utilize this information to develop a property value. One thing to be mindful about with this process is ensuring the information obtained regarding the subject property is credible.
Solar Panel Assessment
With solar panel implementation on the rise, valuing a property with solar panels is pertinent to real estate agents. A working knowledge of solar panels is recommended and should be integrated within the appraiser’s property evaluation.
It’s imperative for appraisers to be knowledgeable about solar and green energy. This knowledge is an asset in properly appraising homes. Usually, when appraisers complete an evaluation on a home with solar panels, they often just indicate that the home has solar panels. No detailed information is provided like the kilowatt hours, usage, or even the age of the system. This knowledge would give an appraiser the advantage over their competitors. Preparation will always be a tool for ensuring success.
The only constant in life is change. To be current and knowledgeable on the appraisal industry, one must implement tools that empower them in every aspect of their profession.