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by David Brauner, Senior Broker at OREP.org
The following aphorism caught my eye recently as something I should share with you as I treated my in-laws to a deli sandwich in a small Michigan town: “Never be afraid to try something new. Remember that a lone amateur built the Ark; a large group of professionals built the Titanic.” (Thanks to Jimmy John’s!)
I laughed out loud. But the new reality is not a laughing matter. Fannie aims to replace appraisers as much as possible with automation.
Be that as it may, and regardless of what you may think about “bifurcated” appraising, everyone agrees that it looks like a done deal. And if the financial collapse of 2008 and Fannie Mae’s forced conservatorship didn’t humble those folks, nothing will. Change is here, and change is never easy: you can choose to try it or you can choose to defy it, but it’s happening.
Personally, I wish I was more receptive to change but not everyone is calibrated that way. It’s hard for me and maybe you, too, to move our own cheese, especially when everything is working pretty well.
These days, when I’m forced to change, I keep in mind how trimming a rose bush down to sticks doesn’t kill it; on the contrary it sparks faster and more robust growth. I have seen even modest risks pay dividends in business and I try not to view mistakes as failures when things don’t work out, as long as the decision was made thoughtfully. To paraphrase what Thomas Edison famously remarked about his first 1,000 attempts to invent the light bulb: the “failures,” he said, are merely learning what doesn’t work. Appraising has evolved over the years; now it is changing.
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Everyone we spoke to for this issue said there are many ways for an appraiser to utilize his/her skills to make a living in addition to residential Fannie Mae appraising. Jim Baumberger wrote a great story that did not make the deadline for this print issue titled Roadmap for Survival which offers clear and sage guidance on navigating these changes. You can find it at WorkingRE.com (Search “Roadmap”). We’ll see how this all works out but it doesn’t have to do you in. For our part, it’s our job at Working RE and our sister company OREP, to help you transform change into success.
This year OREP E&O is offering 14 hours of free, approved continuing education with our Appraiser E&O insurance package, along with other valuable business support to help you continue to grow and blossom. If you’re shopping for E&O please be sure to give OREP a look. (OREP.org)
About the Author
David Brauner is the Publisher of Working RE magazine and Senior Broker at OREP, a leading provider of E&O insurance for appraisers, inspectors and other real estate professionals in 50 states. He has provided E&O insurance to appraisers for over 25 years. He can be contacted at email@example.com or (888) 347-5273. Calif. Insurance Lic. #0C89873. Visit OREP.org today for comprehensive coverage at competitive rates.
Richard Hagar, SRA, is an educator, author and owner of a busy appraisal office in the state of Washington. Hagar now offers his legendary adjustments course for CE credit in over
40 states through OREPEducation.org. The new 7-hour online CE course Identifying and Correcting Persistent Appraisal Failures shows appraisers how to avoid CU’s red flags, minimize callbacks, save time, and earn more! Learn how to improve the quality of your reports and build defensible reports! OREP insureds save on this approved coursework. Sign up today at
Sign Up Now! $119 (7 Hrs)
Insured’s Price: $99
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