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USPAP and breathing dust should conjure up leaders breathing fresh air, while the followers breathe the leader’s dust. So far, we appraisers have chosen to follow when it comes to what the AMCs and lending industry mistakenly call “appraisal modernization”. Without question, real estate needs to come into the 21st century. But why did appraisers choose not to lead this assault on their own mediocrity? Leaders breathe the fresh air. Followers breathe their dust. But we can change this situation! We can take the lead! This usurpation of the lead is not a matter of capacity. It is a matter of will! In a past podcast I spoke of growing a pair. Will we? When?
USPAP and breathing dust foreshadows that appraisers do not like or want that subservient position. So, how will we reverse it? Education is one key. This means taking challenging, critical thought-provoking classes. It will require us to expand our professional horizons. This will mean taking classes in the scientific method of inquiry, regression analysis, artificial intelligence, adjustment techniques, and other appraisal-specific topics. It might even mean taking university-level classes on logic, reasoning, persuasive writing, public speaking, and time management.
USPAP and breathing dust raises the issue of using artificial intelligence as part of any real estate appraisal and the analytics behind a credible, unbiased opinion of value. If we don’t lead in that area, we will surely breathe the dust of those who choose to make that sacrifice. So, are we going to enter the future breathing the pure air of leadership, or the choking dust of subservience?