The appraisal industry has seen significant shifts over the past year, and 2024 was no exception. Valligent’s Chief Operating Officer, George Paquette, recently reflected on the key advancements shaping the field and what’s ahead for 2025 in the Valuation Review article, “Chief Operating Officer Says ‘Notable’ Advancements Evident in Appraisal Work.” From emerging opportunities to increased regulatory scrutiny, Paquette highlights several critical factors that appraisers should keep on their radar.
Article Highlights:
• 2024 was the year of advancements for the appraisal industry, specifically in technology, covering various functions including virtual inspections and software development.
• 2025 seems to be bringing a new age of scrutiny surrounding appraisal adjustments within reports. Detailed justifications will be expected on sales that are chosen to be included or excluded.
• Aspiring appraisers may face challenges in securing full-time employment due to fluctuating loan volumes.
• Appraisers will need to align themselves with the new administration in Washington. Similar to the Biden administration, Paquette foresees similar adjustments to be made in syncing with White House initiatives.
While 2024 was a year of innovation and efficiency gains, 2025 is set to bring new challenges, particularly in the level of detail and justification required in reports.
For a deeper dive into these industry shifts, read the full article in Valuation Review here: Chief Operating Officer Says ‘Notable’ Advancements Evident in Appraisal Work