Am I being trained properly?

[MrX]

I have been a trainee appraiser working towards Certified Residential for roughly 6 months; my QE is done, and I am fully focused on getting as many experience hours as I can over the coming months. I come to the industry with 20+ years commercial real estate experience, with 4 of those years working under an MAI on in-house valuations and ad valorem tax appeals. I enjoy valuation work.

I was lucky to find a supervisor because a personal friend is Certified Residential and offered to take me on at my request. I am his first trainee. After a number of months of his supervision, I am beginning to question whether I am being trained properly on certain aspects. I'm concerned that I am not learning some of the more, in particular, technical/real life methods properly, but I would appreciate insight from others.

Most concerning to me is that I am not being taught how to properly support adjustments for the sales comparison approach. I have other similar, but more minor concerns that I will not get into at the moment. I have tried to inquire with my supervisor about how to use paired sales and any other techniques (looking beyond the overly simplistic textbook cases) to support adjustments. Instead, I am being taught what his short-hand heuristic approaches are (i.e. adjust X% of cost, flat dollar amounts for various physical features, etc.) that don't deviate much by neighborhood/price point nor are they backed up with much, if anything in the workfile. I have tried to incorporate data analysis with the use of third party adjustment software, but he is distrustful and regularly dismisses the data.

I don't believe he is deliberately cutting corners or trying to do anything intentionally misleading. Rather, the reports go above and beyond in other areas (photos, attachments, descriptions). We review the reports carefully before sending to clients (aside from what I've mentioned). Ultimately though the data/support/application of appraisal methods feels very insufficient and really risky should anything ever be challenged. My gut tells me this isn't ideal, and puts me in a vulnerable position once I am on my own because I've simply learned short-hands.

I'll add that I am grateful for my supervisor taking me on and giving me the opportunity. It has come at a cost to him. Maybe there are re-assuring words from this forum that what I've described is in some part normal in a world where appraisers have to work faster to earn a living? Or, if this is indeed something I should be concerned with, how do I get what I need? Going out and finding another supervisor would be a huge challenge, and I fear it would hurt him personally. I appreciate whatever insight this forum may have.

 

[glenn walker]

Few mentors are better and suggest you take advanced courses on supporting adjustments and not relying on any mentor. I know thats hard but thats how I did it as frankly yours may not know himself how to do it..

 

[TerryRohrer]

You are rightfully concerned. The processes for developing adjustments you describe are indefensible. They work until someone questions them, but at that point, you will have no answers. As Glenn notes, you can learn what you need to know on your own, and that process will leave you with greater understanding and the ability to defend what you are doing. OREP/Working Real Estate magazine promotes some online classes that will get you up to speed quicker than other methods. I haven't taken them but others have spoken well of them. Good luck!

 

[Elliott]

Why not subscribe to Solomon for a half year? It will give you some ideas and information, you can see what works in your market and then make the analysis part of your workfile. And you can bounce ideas off your mentor. Frankly, I'm a pick and choose on adjustments because I've never found one size fits all the line adjustments.

 

[shrubberyvaluation]

I have been a trainee appraiser working towards Certified Residential for roughly 6 months; my QE is done, and I am fully focused on getting as many experience hours as I can over the coming months. I come to the industry with 20+ years commercial real estate experience, with 4 of those years working under an MAI on in-house valuations and ad valorem tax appeals. I enjoy valuation work.

I was lucky to find a supervisor because a personal friend is Certified Residential and offered to take me on at my request. I am his first trainee. After a number of months of his supervision, I am beginning to question whether I am being trained properly on certain aspects. I'm concerned that I am not learning some of the more, in particular, technical/real life methods properly, but I would appreciate insight from others.

Most concerning to me is that I am not being taught how to properly support adjustments for the sales comparison approach. I have other similar, but more minor concerns that I will not get into at the moment. I have tried to inquire with my supervisor about how to use paired sales and any other techniques (looking beyond the overly simplistic textbook cases) to support adjustments. Instead, I am being taught what his short-hand heuristic approaches are (i.e. adjust X% of cost, flat dollar amounts for various physical features, etc.) that don't deviate much by neighborhood/price point nor are they backed up with much, if anything in the workfile. I have tried to incorporate data analysis with the use of third party adjustment software, but he is distrustful and regularly dismisses the data.

I don't believe he is deliberately cutting corners or trying to do anything intentionally misleading. Rather, the reports go above and beyond in other areas (photos, attachments, descriptions). We review the reports carefully before sending to clients (aside from what I've mentioned). Ultimately though the data/support/application of appraisal methods feels very insufficient and really risky should anything ever be challenged. My gut tells me this isn't ideal, and puts me in a vulnerable position once I am on my own because I've simply learned short-hands.

I'll add that I am grateful for my supervisor taking me on and giving me the opportunity. It has come at a cost to him. Maybe there are re-assuring words from this forum that what I've described is in some part normal in a world where appraisers have to work faster to earn a living? Or, if this is indeed something I should be concerned with, how do I get what I need? Going out and finding another supervisor would be a huge challenge, and I fear it would hurt him personally. I appreciate whatever insight this forum may have.

First off the only one looking out for you is you (aside for maybe some close family or friends). It sounds like you are doing work to educate yourself which is a good thing. I'm not sure the third party software is great, although I'm not sure what software you are referring to. My first "mentor" basically threw me to the wolves and I moved on after having basic experience to market myself for a better supervisor. If you can do that I would, otherwise get the experience you can and fill in the gaps by self teaching yourself using the resources available.

 

[CGinMN]

Once I understood the basics, the two best books I read were by Nelson Bowes and David Braun. Even if you don't use their techniques, they'll expand your knowledge. Both are very readable.

 

[TerryRohrer]

Once I understood the basics, the two best books I read were by Nelson Bowes and David Braun. Even if you don't use their techniques, they'll expand your knowledge. Both are very readable.

Both great books. The David Braun book may be hard to find, but that is one you really should get. It provides the fundamentals for understanding regression analysis, which is what I think you need as a goal!

 

[alebrewer]

Agreed with the general consensus herein - it was very generous of your friend to help you with your career goal, so certainly don't want to besmirch them. Continue to learn what you can from them, and let them help you toward your goal of finishing your experience hours. In addition - do the legwork yourself - become a better appraiser, not because your supervisor is good, but because you want to be the best. Take the challenging CE and QE classes - not just the ones that get you credits.

It's been my experience that 'new' appraisers don't know what they don't know - not because their supervisor was intentional in their mediocre training, but because holding a credential doesn't necessarily make someone good at training others...

 

[MrX]

Why not subscribe to Solomon for a half year? It will give you some ideas and information, you can see what works in your market and then make the analysis part of your workfile. And you can bounce ideas off your mentor. Frankly, I'm a pick and choose on adjustments because I've never found one size fits all the line adjustments.

Is Soloman like Synapse/Spark in that it aggregates your neighborhood/market data and applies regression/depreciated cost/paired sales/sensitivity and allows you to use that as a basis (and workfile CYA)?

 

[MrX]

Once I understood the basics, the two best books I read were by Nelson Bowes and David Braun. Even if you don't use their techniques, they'll expand your knowledge. Both are very readable.

I will check this out. Thank you for this.