The appraisal profession continues to face an important question: where will the next generation of appraisers come from, and how can the industry better prepare them for a changing valuation environment?
In a recent Dodd Frank Update article, Valligent Chief Appraiser and Veros Real Estate Solutions Senior Vice President Jeff Hogan shares his perspective on the challenges facing the profession today and the steps that could help create a stronger path forward for future appraisers.
The conversation explores several issues that continue to shape entry into the profession, including access to qualified supervisory appraisers, the cost and structure of training, differences in state requirements, and the difficulty some candidates face in gaining the experience needed for licensure.
Hogan notes that maintaining meaningful competency standards is critical, while also pointing to the need for additional structured pathways that can complement the traditional supervisor-trainee model. Programs that provide practical experience, competency-based assessment, and alternative ways to demonstrate readiness may help expand access without reducing professional standards.
Preparing Appraisers for a More Technology-driven Profession
Education is another important part of the discussion. Traditional appraisal coursework provides an essential foundation in valuation theory, market analysis, ethics, reporting, and the approaches to value. At the same time, Hogan explains that training must continue to evolve with the way appraisal assignments are completed today.
Modern appraisers increasingly work with digital research tools, geographic information systems, statistical analysis, mobile inspection technology, automated quality control systems, automated valuation models, and artificial intelligence-assisted research and analytics.
The goal, however, is not simply to teach appraisers how to use new technology. Hogan emphasizes the importance of understanding the underlying data, recognizing limitations, evaluating whether an output is reasonable, and being able to explain how technology informed the analysis.
Mentorship and Practical Experience Remain Essential
The article also examines the role of mentorship and the challenges associated with traditional supervision. Experienced appraisers who train new professionals take on significant responsibilities, including reviewing work, answering questions, providing instruction, and accepting professional accountability for assignments.
Hogan discusses the need to recognize mentorship as an important professional function and to consider more sustainable approaches to supporting and compensating those who train future appraisers.
He also addresses the potential role of virtual supervision and remote learning. Technology can expand access to experienced professionals and help overcome geographic limitations, but practical property experience remains an important part of developing appraisal competency. A blended approach that combines technology, structured instruction, mentorship, and meaningful field experience may provide a stronger training model for the future.
Technology Changes the Work, Not the Need for Judgment
The growing availability of property data, automated valuation models, and artificial intelligence is also changing how appraisal professionals work. Greater access to data can improve research, market analysis, comparable selection, consistency, and risk identification. But more data does not automatically produce a better valuation.
Professional judgment remains essential when determining whether information is accurate, relevant, comparable, and properly interpreted within the context of the property and its market. As Hogan explains in the article, technology can support the appraisal process, but the appraiser remains responsible for the credibility of the analysis and conclusion.
Building the next generation of appraisers will require more than recruiting new people into the profession. It will require accessible entry pathways, relevant education, supported mentorship, practical experience, responsible use of technology, and a continued focus on competency and public trust.
Read the Dodd Frank Update article, “A Solid Foundation for the Next Generation of Appraisers,” to learn more about the future of the appraisal profession.
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