Like any industry, the appraisal business is going to be changing over the next five years. Every business changes in a different way, and adopts general trends at different times and to varying degrees. This applies very much to appraising, in that it’s a business that is occasionally slow to adopt technological trends and move towards a paperless world.
So Where are Appraisers Headed?
Appraising happens to have an older work force as well, and this also affects how quickly and efficiently new technology is picked up and utilized. While all of this is important to take stock of, it only offers a glimpse into what the future holds in the appraisal world.
At Anow, being a company that creates software to push the industry forward, we expect to see quite a few more appraisers and companies adopting the latest technology and software to streamline their business. While this may be a biased opinion, given that an older workforce will be moving on sooner rather than later, the Influx of young energy and minds into the industry surly points to a faster and greater adoption of technology. Not only that, but we are expecting to see an increasingly paperless industry as things move forward, something that we’ve been on the forefront on for years now.
Appraisal Industry Advancing Quickly
While the advancement of technology in an industry that has at times bristled at the idea is something of a positive, there are still many things to learn from the old guard. Doing everything via technology has its advantages, but there are still a lot of things to learn about the business that can’t be performed on a computer. One of the real positives to an older workforce is that there is a lot of wisdom to be shared with younger appraisers, and a middle ground between a technology-based approach and an experience-based approach. Marrying the new with the old is something that can benefit all appraisers and the business as a whole.
Market Forces in the Appraisal Industry
Finally, with the economy being in a near constant state of flux, a new and potentially rising market should bring in a slew of new appraisers, after years of new bodies were on the decline. Appraising is a supply and demand based business, as most are, and with people coming out of a tough economic period where they tend to sit tight on their homes, changes will be made moving forward and people will be looking to move. It’s a rewarding career and something that post-secondary institutions as well as the real-estate business seem to be focusing more on moving forward.
It’s not something a lot of kids think about as they grow up, but there promises to be a lot of opportunity opening up in the appraisal business in the next few years. Real estate and homes aren’t going anywhere, and the need for people will be real. With a young and eager workforce looking and an increasing focus on technology, the industry is sure to change quite dramatically over the next five years. Should the old be able to work with the young to combine their skillsets and knowledge, the appraisal industry should be in great shape as time moves on. Appraisers headed towards tracking insights and trends seem to do better overall. That’s why we encourage you to Try Anow for free, what do you have to lose?