Easy for Some, Harder for Others

As someone who spent fifteen years working across the whole of the valuation profession it always surprises me when practitioners have little working knowledge of the differences between, say, what’s required of a real estate appraiser and personal property appraiser. Then again, we often live within the sphere of our own professional existence that it can be easy to lose sight of other corners, and the potential lessons they have to offer.

A great example of this is how naturally diversified most personal property appraisers are in their businesses. Yes, they provide appraisals for different reasons, but many also work with collectors to broker transactions, manage collections, and facilitate consignment and auction sales. To a personal property appraiser, this level of diversification is not only natural, it’s essential to having a successful practice.

Conversely, many real property appraisers I’ve met are singularly focused not only on appraisal, but specifically on the markets and property types they frequent most often. While some maintain a real estate sales or brokerage license, there is not the same level of diversity of practice within the space.

As real estate navigates a time of upheaval with buyer broker agreements and shifts in how buyers and sellers come together, it presents opportunities to offer Value Informed services to clients who would benefit greatly from the market expertise of an appraiser, outside of the need for an appraisal.

The same is also true in business valuation, an area seeing more specialization today than when I first started serving the profession. While the practices get more granular, there is not a sense of growth in better informing clients in the space regardless of whether they need the question of value answered.

We can feel boxed into the work we are doing, limiting us from seeing the ways we can move into the work we can be doing while staying true to our purpose and passion. Whether with ValuSight or a trusted peer, getting that external perspective on what’s possible is a great way to uncover the ways to can serve clients beyond the value.