Indispensable Appraisers Podcast
By Jeff Hicks
Let's have a meaningful conversation!
Jeff Hicks, MAI, Founder
813.230.3798
Realwired.com
Indispensable Appraisers PodcastMar 09, 2021
Indispensable Appraisers - Unlock New Levels of Appraisal Efficiency with Position Statements
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
1. Learn why position statements are a management game changer
2. Onboard new employees setting out specific business outcomes
3. Obtain clarity with long term employees
4. Provide your employees with an avenue for pay increase
5. Take the emotion out of an exit interview
Bonus: Improve your engagement letters with clarity
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Optimal State: Avoid Stress, Improve Performance, Learn New Things
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
In this video, I discuss the martial arts concept of optimal state that can enhance our performance and productivity for fee and bank appraisers, lenders, personal health and personal relationships.
I delve into the importance of self-awareness and striving for the optimal state to achieve success.
Watch the video to learn more about this fascinating concept and how it can positively impact your life.
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Appraiser Insider Tips from a Bank President.
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers - Appraiser Insider Tips from a Bank President.
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - From Stress to Rest: Playbooks for a Worry-Free Vacation
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
Learn the Playbook Framework, a game changer for appraisal firm owners and Chief Appraisers.
1. Loom It
2. Ownership
3. Cadence
4. Checklist
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Identify Your Energy Assassins
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
10x your productivity, leading to fulfillment.
- Exhaust the Body, to Sharpen the Mind
- Vices
- Food As Fuel
- Self-Limiting Thoughts
- Protect Your Eyes and Ears
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Where are you with AI? Take the AI Valuation Matrix Challenge
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Promote Entrepreneurship in our Valuation Profession
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - The Secret to a 5 Star Appraisal – Product Focuser
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
Throw away your commercial appraisal format.
Start over with awesome design, amazing analysis, succinct format created with technology and supported by process.
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - How to Improve Bank-Fee Appraiser Relationships
Change the negative “bank work” mindset with 4D’s framework – Define, Document, Demonstrate and Deliberate.
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Getting a MAI, is it worth it?
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - You Create Value, Get Paid For It
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Leveraging Technology in the Appraisal Industry
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
My conversation with Matthew Spratley, Certified General Appraiser | Commercial Real Estate Expert.
Some takeaways:
• Access to information and technology
• Improving appraisal process
• Overcoming analysis paralysis
• Doing your own research
• Improving appraisal challenges
• Investing in the next generation of appraisers
• Advice to the next generation on becoming an appraiser
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Opening Doors to the Appraisal Profession
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
My conversation with Dr. Randy Flowers - RSDS Appraisal Diversity.
Dr. Flower's insights:
• RSDS was created to help try to solve the 30-plus year problem in the appraisal profession, which is a barrier to entry.
• The current system right now lacks youth diversity inclusion of military service members.
• We will have a labor shortage when the market turns around.
• Right now the market's down 70%, but it won't take much of a snapback to feel that labor shortage.
• In the last 3 years over 7,000 licenses are no longer with us, and that's a pretty steep decline.
• This system has also created poor service levels, long wait times and issues for people trying to get appraisals.
• As technologies come in, bifurcated products have come in, but the RSDS solution is to aggressively hire and train the next generation of professional appraisers.
• Just broke the 200th appraiser in the company. We've graduated almost 45 trainees in the last year.
• A lot of money going into lack of diversity - Chase $5.0M, Wells Fargo $6.M.
• We've got to continue reestablishing trust in the financial sector.
• New appraisers are shocked at how much technology still needs to be developed in the profession and access to the data.
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/
www.realwired.com
Indispensable Appraisers - Tackling Appraisal Economics: Challenges and Solutions
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
My conversation with George Koiso, MAI - Worth Valuations.
Some take-aways:
- Appraising - best place to learn.
- Peer groups - the value that good appraisers hold.
- Non-lender work - not feeling the downturn.
- Demand is there for those who can solve client problems.
- Biggest Challenge: fee compression.
- Experience attracting and retaining talent.
- Provide the next generation the same benefits.
- Grateful about the appraisal profession.
- Find ways to pay young appraisers more.
- Valuation very rewarding, a good career.
- Challenge: if over-qualified to start appraising, they would be overlooked.
- Potential future shortage of appraisers.
- Appraising is one of the most highly training-intensive professions.
- We need to solve the economics of appraisal.
- Appraisal Institute – from the top can help with marketing and branding.
- LinkedIn – stay in front of clients.
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/
Indispensable Appraisers - Drawing Parallels: The BP Oil Disaster as a Cautionary Tale for Banks' Valuation Liability
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers!
My conversation with Charles V. Beyer, II, MAI, SRA, AI-GRS - Swift Real Estate.Charles Beyer's insights:
- The application of appraising over a lifetime is huge.
- There's a tremendous need for experienced, well-educated appraisers.
- Appraisers as being in the future are the tour guides through this maze of voluminous information.
- There's an opportunity but you have to pay your dues.
- I'm still working, not because I have to, but because I want to.
- The career itself is tremendously fulfilling on so many different levels.
- The onus is not so much on us, it's on them (the next generation).
- He was a chief appraiser for a bank, worked for a national firm, and had his own business and partnerships. It's all over the place. I've invested in real estate, just a tremendous opportunity career.
- Analogous story about BP's oil spill came back to BP not their subcontracted security and safety firms.
- Smaller banks are so hungry to know how to run an appraisal department.
- FIVA is a great way to have commonality since we're all facing the same type of issues. We can address those issues together and learn from one another.
Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/
www.realwired.com
Indispensable Appraisers - Appraisers be more intentional and building a life with vision
My conversation with Mitchell Simonson, MAI - Simonson Appraisal.
Mitchell's insights:
- Appraisers provide incredible value in solving complex valuation problems.
- We help property owners understand valuation impacts.
- There’s an opportunity to provide a higher level of service that owners need.
- We help negotiate fairly on the government side and provide the desired outcomes.
- The greatest challenge is being aware of the industry.
- Not all appraisals provide that same high level of value, that’s a challenge.
- The appraisal profession has provided a few different alternative valuation options.
- You have to learn to embrace, pivot and find other valuation opportunities.
- There seems to be a stigma from other real estate professionals, throwing appraisers under the bus.
- We’re striving to provide the highest level of value.
- We can’t control that perception but we as appraisers can provide massive value in many different aspects.
- Reinvigorated to improve and thrive in this appraisal industry.
- Appraisers can build a lifestyle.
- A family trip story about how Mitch learned to be more intentional and build a life with vision.
- He weaves everything that he loves.
- The appraisal profession continues to provide an excellent lifestyle.
Indispensable Appraisers - Our industry’s greatest challenge is “US”
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers! My conversation with Michael J. Pratico, Jr., CCIM, AI-GRS, MRICS, Chief Appraisal Officer at Columbia Bank. Mike’s insights: - Wins in our valuation space – leverage technology to drive productivity - Data standardization - Workflow – ability to handle volume with less manual work - Our industry’s greatest challenge is “US” - We need to set the record straight on appraisal bias - We left our seat at the table, lost some credibility - We’re not great at telling our story – how we add value - Tech is a great opportunity - Leverage technology to increase hourly income - Bring in fresh leadership thinking - Drive the industry with diversity Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/ www.realwired.com
Indispensable Appraisers - Thriving in a Downturn: The Specialized Expert Advantage
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers! A lot of appraisers feel trapped in the current valuation model. Listen to Craig discuss opportunities focused on being an expert by selecting a specialization. New opportunities can be created. Seek out education that aligns with a specialization that energizes you, whether you're new to the profession or established. Craig’s discussion provides new tools to reposition you and your firm. Craig L. Smith MAI Senior Housing and Healthcare Specialist Smith-Parke & Company, Inc. Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/ www.realwired.com
Indispensable Appraisers - Why Our Industry Needs Gratitude
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers - Cultivating Gratitude.
Gratitude is a powerful force that can transform appraisers’ mindset and enhance your overall well-being. Develop a positive outlook, increase your motivation and reduce stress levels.
Grateful appraisers appreciate the value of their work and the opportunities it presents.
Acknowledge the contributions of your team and create a positive work environment that fosters collaboration.
I welcome anyone in our valuation space who would like to join me in any discussion. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com.
Let’s start this conversation.
Subscribe to our weekly blog: https://realwired.com/blog/
www.realwired.com
Indispensable Appraisers - How to Really Attract & Retain Appraisers
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired?
Welcome to another insightful episode of Indispensable Appraisers! Our valuation industry is largely uninspired, lacks enthusiasm and faces diminishing relevancy. I may be wrong, but I don’t think so. I started a podcast. You might be thinking, “great, yet another podcast.” You might be right. Podcasts don’t do anything. Plus, my speaking skills aren’t the best. But we need to DO something. Start the conversation. We're here not to talk about the technical aspect of appraisals, but to bring back enthusiasm, connection and inspiration to the industry. Indispensable Appraisers is all about elevating all (fee and bank) appraisers, sharing experiences, innovations, inspirations and insights that remind us why we fell in love with this profession. Enthusiastic appraisers are more likely to communicate effectively, address client concerns and go the extra mile to meet their needs, ultimately making themselves indispensable in the eyes of their clients. Whether you're just starting your journey or have been in the business for decades, this podcast is your weekly dose of motivation and insight. My goal is to discuss: 💥 The Importance of Passion in Valuation 💥 Entrepreneurial Inspired Ideas 💥 Rebranding Appraisers Value in the Marketplace 💥 Leadership Advancement Tips for Fee and Bank Appraisers 💥 Resources for Continuous Professional Development Enthusiasm can be a competitive edge. Enthusiasm is contagious and can breathe new life into the appraisal process. When appraisers approach their tasks with enthusiasm, it increases: 1. Happiness 2. Impact to the bank’s c-suite 3. Engagement to participate as a subject matter expert (SME) 4. Energy to promote education and leadership 5. Adoption of AI and other tech advancements By embracing their roles with passion and dedication, appraisers can secure their position as vital contributors to the real estate industry's ongoing success. Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/ www.realwired.com
Indispensable Appraisers - Are you connected to the market and your clients?
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired? My conversation with Eric Enloe, MAI, CRE, FRICS - Partner Valuation Advisors. Eric's insights: • Valuation industry is winning at appraisers getting more specialized • We have met the market and there has been a client-demanded shift • There’s work to be done getting young people in our industry • Valuation provides valuable background and fun • No better opportunity with valuation since it offers varied disciplines • Build the exposure of our industry • Lots of room for improving report formats, present data better • Better reports can provide appeal to a broader market • AI will have an impact on our industry • The number of appraisers may shrink with technology efficiency and productivity will go up and so should compensation • We need to: get more connected with the market • The “desk appraiser” meets scope of the engagement letter but not connected to the market • The appraiser “checks the boxes” but doesn’t talk to market participants • Follow-up with clients, ask them about your report quality (lack of a phone call doesn’t mean you did a great job) • Get connected with your clients • Change the perception of our industry as professionals – work to be done • Evolving market – people make decisions based on our appraisals • 10-year Treasury – is that being talked about in appraisals • Reputationally there’s work to be done • How does subject fit in the market • Number of Tweets, a development feasibility story Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/ www.realwired.com
Indispensable Appraisers - Single Source of Truth to Manage Oversite of the Profession
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired? My conversation with Katherine Owen, Chief Appraiser at Umpqua Bank. Katherine’s insights: • Appraisers are winning at data and analytics • We are winning at addressing collateral risk • Embracing change is one of our biggest challenges • Regulatory framework, we need to consider how to best navigate all the different stakeholders in the industry • Numerous agencies and groups vying, but we need to bring them together into one voice • We need a Single Source of Truth to manage the oversite of the profession • We need to drive positive change • Appraisers are a very important piece of the lending and credit decision and will help better serve our stakeholders Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/ www.realwired.com
Indispensable Appraisers - Many appraisers feel isolated, our biggest challenge
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired? My conversation with Blynn Beall, MAI, Chief Appraiser at SiteTech Systems. Blynn’s insights: • Seeing individuals doing cool things • People who share knowledge are more successful • Hearing from chief appraisers moving away from the “race to the bottom” • Avoid complaining about client requirements • Adapt or be pulled off approved appraiser lists • Tell me a story and don’t leave me hanging (with your appraisals) • Many appraisers feel isolated, our biggest challenge • Plug in, network, pick up the phone, relationship with peers Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/ www.realwired.com
Indispensable Appraisers - Your Inbox, The Ultimate Productivity Trap
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired? Show me your calendar and I’ll tell you if you’re being productive. Reacting to your inbox as a default productivity strategy can be detrimental because it shifts focus from proactive, goal-oriented work to constant interruption-driven tasks. This reactive approach hinders deep work, disrupts concentration and prevents prioritization of important strategic tasks…ultimately reducing overall productivity and effectiveness. Resist starting your day with a cup of coffee and Outlook (but do enjoy the coffee 😊). Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/ www.realwired.com
Indispensable Appraisers: Scarcity vs. Abundance Mindset
Have you lost your enthusiasm for our valuation industry? Do you feel disconnected and uninspired? Welcome to another insightful episode of Indispensable Appraisers! Your go-to show for fee or bank appraisers wanting to elevate our valuation profession. We're here not just to talk about appraisals but to bring back enthusiasm, connection and inspiration to the industry. • 🌟 The Importance of Passion in Valuation • 🔍 Entrepreneurial Inspired Ideas • 📈 Rebranding Appraisers Value in the Marketplace • 💼 Leadership Advancement Tips for Fee and Bank Appraisers • 📚 Resources for Continuous Professional Development Hosted by Jeff Hicks, MAI, a seasoned CRE technology professional with a love for the appraisal industry. Indispensable Appraisers is all about elevating appraisers, sharing experiences, innovations, inspiring and insights that remind us why we fell in love with this profession. Whether you're just starting your journey or have been in the business for decades, this podcast is your weekly dose of motivation and insight! 💬 We Want to Hear from You! Got a topic or a question you'd like us to cover? Drop us a comment below or send us a message on our socials. Your input helps us make every episode more valuable for our appraisal community! 🎧 Tune in, get inspired, and let's bring the enthusiasm back into the world of property valuation! 👉 Don't forget to like, subscribe, and hit the notification bell to stay updated with all our latest episodes and exclusive content! Let’s start this conversation. Just call my cell 813-230-3798 or e-mail me Jeff@realwired.com. Subscribe to our weekly blog: https://realwired.com/blog/ www.realwired.com
What's in your stack?
More right less wrong
Open to rethinking
Out of ambition or necessity
Come out of the cold
I'm swamped
Non-USPAP evals, opportunity for appraisers and their bank clients
Banks: "What we’re currently getting now isn’t very good."
Appraisers: "We can do these profitably and without liability?"
Learn things:
1. Superior option for banks, reduce “hit or miss” quality.
2. Add value for your bank clients.
3. Lucrative and scalable product for appraisers.
4. Hire non-appraisers, new entrepreneurial model.
5. Diversification improves business success and longevity.
Deb Clark, MAI CEO at Eval.com and President/Chief Appraiser at MountainWest Valuations
As a commercial appraiser, don’t rinse and repeat.
Take a few minutes to learn a few things about the office market (not the obvious Covid stuff) with Carlo Bruno.
Important take-aways:
* What are your assumptions for renewal probability?
* Understand key tenants desire for flexibility in renewal.
* Evaluate their ability to have a hybrid workforce.
* Renewal probability spectrum – less space going forward.
* Space churn – rollover frequency increases.
* Ancillary revenue stream – parking goes away.
* Sublease active – case-by-case.
* Disconnect between tenants, landlords and lenders.
Overall take-away – understand your tenant base.
Carlo Bruno, MAI (non-practicing) PwC | Strategic Initiatives, National Real Estate Director
How would it feel to have a profitable appraisal department?
Ernie Lopez, MAI, AI-GRS, MBA, Chief Appraiser at East West Bank and Jeff Hicks, MAI, RealWired's President discuss: How would it feel to have a profitable appraisal department?
www.RealWired.com
Appraisal Reviews: The regulations are clear. Competency.
Heidi Lee, MAI, YouConnect’s Chief Compliance Consultant and Jeff Hicks, MAI, RealWired's President discuss: Getting the "right" appraiser to do your reviews, either in-house or external to the bank.
www.RealWired.com
Ordering evaluations. Are you doing it right?
Heidi Lee, MAI, YouConnect’s Chief Compliance Consultant and Jeff Hicks, MAI, RealWired's President discuss: As an appraisal manager or chief appraiser, how are you handling your evaluations?
www.RealWired.com
Bank Mergers: Roller Coaster Change to Appraisal Departments
Heidi Lee, MAI, YouConnect’s Chief Compliance Consultant and Jeff Hicks, MAI, RealWired's President discuss what to expect pre and post-merge.
www.RealWired.com
Chief Appraiser's No. 1 Stress, Lender Push Back
Heidi Lee, MAI, YouConnect’s Chief Compliance Consultant and Jeff Hicks, MAI, RealWired's President discuss Chief Appraiser's No. 1 Stress, Lender Push Back.
www.RealWired.com
The best way to review appraisals
Rob Landis, Owner, Commercial Appraisal Management at L-CAM and Jeff Hicks, MAI, RealWired's President discuss: The best way to review appraisals.
www.RealWired.com