Using modern appraisal technology is imperative to the future success of appraisers. Appraisal Institute chapters like the South New Jersey Chapter recognize that and are providing learning opportunities for appraisers in their chapter. The chapter, led by President Charles McCullough, MAI, AI-GRS, and Vice President Michael Descano, MAI, covers central and southern New Jersey. Appraisers from this group provide valuation services in New Jersey, Pennsylvania, Maryland, and Delaware. Last week, they hosted a continuing education class that I led called, “Modern Technology and the Commercial Appraisal Practice”.
The focus of this 2-hour class was to consider some of the dominant modern technologies that are shaping business industries. We looked specifically at how these technologies are impacting appraisers in the structure of the commercial appraisal office. Further, how they impact the development and delivery of the commercial appraisal report.
We started by taking a look back at some of the historic technological developments over the last 50 years. These included the Internet, mobile phones and artificial intelligence. So what does the future of appraisal technology look like? There are five dominant modern technology trends that are shaping the future for the business world in general, and valuation professionals in particular.
For appraisers to be competitive now and in the future, we need to know the best practices and tools for navigating and implementing these trends. They include: cyber-security, the cloud, big data, specialized software replacing spreadsheets, and mobility.
The importance of each trend is monumental and here’s why.
How appraisers embrace these five trends will largely separate the best from the rest over the next few years.
Many thanks to the South New Jersey Appraisal Institute Chapter for hosting this continuing education class. If this free course is something your Appraisal Institute chapter would be interested in, you can contact us here.
“Dennis is a seasoned veteran appraiser and an engaging public speaker. The course touched on a number of important issues including the ever changing landscape of the appraisal profession, use of big data, internet and server security, and overall productivity. This course exceeded my expectations.” -Michael Descano, MAI
About the Author
Dennis Dull, MAI, is a senior appraiser at Keller-Craig and Associates as well as the Chief Sales Officer for realquantum.
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