Saturday, January 28, 2023 | The Latest Buzz for the Appraisal Industry

Remaining Relevant in a Hyperspace Market

As an appraiser, staying relevant in the field can be essential to maintaining a strong and successful business. While it may seem difficult, appraisers already hold the key to becoming a success. What do the most successful athletes and teams have in common? They practice the basics and they know them so well they don’t have to think about doing them. In our upcoming free webinar, “Remaining Relevant in a Hyperspace Market” on July 1st at 1 pm, Jared Priesler, Chief Appraiser at Datamaster, and Keven Ewell get back to the building blocks of appraising. We sat down with our speakers to get the inside look at what they’ll be discussing.

Buzz: Can we have your background in the industry?
Datamaster: Keven Ewell has 22 years of residential appraisal experience including single-family dwellings, condominiums, land, and 2–4-unit properties. He currently holds a Certified Residential License in Utah. Keven also has 19 years’ experience as an appraisal instructor. He is an AQB certified USPAP instructor. His appraisal experience includes Utah, Washington, Idaho and California. He is a member of the Utah State Appraiser Licensing and Certification Board.

Jared Preisler, SRA has been involved in the appraisal industry for over 25 years as an independent fee appraiser serving Northern Utah. Jared is currently the Chief Appraiser for DataMaster, while continuing as an independent fee appraiser and trainer. He earned both the SRA and AI-RRS designations from the Appraisal Institute. He is an AQB Certified USPAP Instructor and he is licensed in Utah to teach both real estate and appraisal continuing education courses. He serves on the Directors Board of the Utah Chapter of the Appraisal Institute. Since 2010, he has also been a member of the Board of Trustees and Vice President of the Utah Association of Appraisers (UAA). Jared has developed several CE courses for the real estate profession in his roles with UAA, the Utah Chapter of the Appraisal Institute and DataMaster.

Buzz: What are some examples of the “basics” of appraising?
Datamaster: Creating a strong work file you can keep that describes the steps you took in your process and why you took them – including the properties you may have considered but that you didn’t include in your opinion of value. An understanding of the different markets which exist within the same city, county, or region. Completely focus on the property you’re inspecting as though it’s the only one that exists. If you start comparing the property during the inspection, you may lose track of what you’re doing. Pay attention to the entire neighborhood and “inspect” the neighborhood as well as the property. Understand what the tools you can use in your appraisal business – what makes most sense for your assignment and what tools are not necessary. Learn how to read public records and MLS data and which data you can rely on in your market.

Buzz: What are some of the challenges appraisers face when mastering basics?
Datamaster: If you’re not doing using the same process every time, you can miss some of the important aspects of your assignment. Being pressured by lenders and underwriters to hit values or artificial timelines. Trying to do everything yourself – use mentors and peers. Using tools that don’t fit the assignments. Discussing and commenting on the potential comps in your report.

Buzz: Why should appraisers attend this webinar?
Datamaster: We’ll put you through the “drills” you need to stay sharp in your business. With their backgrounds in reviewing appraisal work and working with the state board of appraisers, Jared and Keven will discuss the common pitfalls they see in appraisal reports. Think of this webinar as strength training for strong appraisers.

Join us for our upcoming free webinar, “Remaining Relevant in a Hyperspace Market” on July 1st at 1 pm!

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