Recruiting and Retaining Entry-Level Appraisers: Webinar Recap

Realquantum is dedicated to helping appraisers advance in their careers day-to-day by delivering essential information on important topics, relevant news, and providing useful tools to streamline their workflows.
Frank LaDonna

Frank LaDonna

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Recruiting and Retaining Entry-Level Appraisers: Webinar Recap

Realquantum is dedicated to helping appraisers advance in their careers day-to-day by delivering essential information on important topics, relevant news, and providing useful tools to streamline their workflows. 

In this installment of our Highest & Best Use Webinar Series, Jeff Weiner, CEO and Co-founder of Realquantum, was joined by Matt Speer, VP and Partner of Keller, Craig & Associates, Elaina Grantham, Commercial Real Estate Appraiser, and Avery Parish, Associate Appraiser. If you are a new appraiser, considering commercial real estate appraisal as a career, or responsible for hiring appraisers, you’ll definitely be interested in the perspectives offered in this webinar! Read our recap below and watch the full webinar here.

Weiner, Speer, Grantham, and Parish offered their unique perspectives on topics like: 

  • Strategies for recruiting and attracting entry-level appraisal candidates
  • Tips for creating a positive and encouraging work environment that promotes retention and career growth
  • How modern software and technology can keep entry-level appraisers motivated and engaged
  • Building a mentorship program to help entry-level appraisers develop the knowledge and experience they need to succeed
  • Providing opportunities for career development and advancement 

 

We’ll break down each of these topics below based on the perspective of a senior appraiser (Speer) and an entry-level appraiser (Grantham and Parish). 

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Strategies for recruiting and attracting entry-level appraisal candidates

Senior Appraiser point of view:

  • It is important to make yourself and your company known in the community.
  • Partnerships with local schools, colleges, and universities are critical for recruiting for internship programs and entry-level positions.
  • We’ve had success targeting second-generation appraisers that understand the business and have growing interest.

 

Entry-Level Appraiser point of view:

  • Networking with other candidates interested in real estate appraisal is important while developing the foundation of your appraisal knowledge and career. 
  • The average age of a real estate appraiser is ~61 years old. Now makes a great time for entry-level candidates to jumpstart their careers. 

 

Tips for creating a positive and encouraging work environment that promotes retention and career growth

Senior Appraiser point of view:

  • Keeping a steady pipeline of new work for appraisers allows them to learn the business and grow quickly.
  • We’ve found that welcoming flexible in-office and remote environments encourage team building.
  • As new appraisers learn the business and are exposed to the different types of properties, we try to support their special interests by assigning property types based on employee preference and skill.

 

Entry-Level Appraiser point of view:

  • Flexible schedules and being able to work at your own pace creates more motivation and drive to increase compensation.
  • An open-door policy from mentors can promote retention because “anytime you have a question about something, you just kind of pop in and be like, hey, I’m a little confused about this. And sometimes when you start entry-level, you’re afraid to ask questions because you want to do well and prove yourself.”
  • Working in-office creates a more approachable environment for entry-level employees to ask more questions and gain a better understanding. 

 

How modern software and technology can keep entry-level appraisers motivated and engaged

Senior Appraiser point of view:

  • Modern technology allows teams to create templates and use similar assignments to help answer questions quickly without having to reach out to another employee for help.

 

Entry-Level Appraiser point of view:

  • New technologies allow for increased efficiency and productivity, and streamlined workflows that don’t feel “clunky.”
  • Organization and referencing data from past assignments and other appraisers assist in enhancing new projects and allow for a faster turnaround time.

 

Building a mentorship program to help entry-level appraisers develop the knowledge and experience they need to succeed

Senior Appraiser point of view:

  • We recommend expanding mentorship programs to allow entry-level appraisers to move between mentors and supervisors to expose them to different ways of problem-solving to create their own system.
  • Get involved with the Appraisal Institute to ask questions, join chapter activities and learn from your peers how to mentor or join a mentorship program.

 

Entry-Level Appraiser point of view:

  • Knowledge from experts in the industry with years of experience can help develop your skills and further your career. Join your local Appraisal Institute chapter and become involved in your community.
  • Having an “open-door policy” with your mentees allows entry-level appraisers to be confident in their choices while allowing themselves to ask questions and learn how to stay on track.

 

Providing opportunities for career development and advancement 

Senior Appraiser point of view:

  • Start entry-level folks on a salary to learn the business, evolve with the other employees, and create their own strategies. Then, focus on efficiency and workflows.
  • Provide supervision and new experiences to help develop their “cookbook” of resources.
  • Put together job aids to create consistency in the way that the appraisal analysis is done in a variety of different situations. 

 

Entry-Level Appraiser point of view:

  • Getting “thrown in the deep end” is the best and fastest way to learn!

To learn more about how Realquantum is supporting commercial real estate appraisers at every stage of their career with our cloud-based solutions, schedule a time to speak with one of our subject matter experts!

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