The Future of Appraisal: How to Thrive in a Tech-Driven Industry
Michael Hobbs MAI, SRA, CRP, LEED GA
Chief Appraiser, Founder, Serial Entrepreneur, Podcast Host, EO Member
The appraisal industry is shifting fast. AI, automation, and regulatory updates are reshaping how we work. Some see this as a threat. Craig Morley sees it as an opportunity.
After 40+ years in the business, he’s figured out how to stay ahead—by embracing technology, industry involvement, and new opportunities.
Here’s how you can do the same.
What’s Changing in the Appraisal Industry?
AI & Automation – Technology is getting smarter, helping appraisers streamline workflows and increase accuracy. But tech is only as good as the professionals using it.
Industry Modernization – Big changes are coming. In 2025, Fannie Mae and Freddie Mac will roll out new appraisal processes—appraisers who refuse to adapt may find themselves edged out.
New Revenue Streams – Traditional lending work isn’t the only path. Litigation support, estate valuation, and specialized appraisals are growing for appraisers willing to pivot.
How to Stay Ahead of the Shift
Invest in Your Education – The best appraisers aren’t resisting change; they’re learning how to use it to their advantage. AI tools and advanced analytics can make you more efficient—if you know how to use them.
Expand Your Network – Craig built his business by educating real estate professionals and serving on industry boards. Visibility creates opportunity. Get involved, teach others, and position yourself as a go-to expert.
Embrace Change – Many experienced appraisers say, "If the new appraisal forms roll out, I’m done." But Craig sees it differently. Those who adapt will dominate the next era of appraisal.
Final Thought: Are You Ready?
The next five years will redefine our industry. The question is—will you evolve with it?
?? Drop a comment: What are YOU doing to future-proof your appraisal business?
??? Listen to Craig Morley’s full insights on the latest episode of Appraisers on Purpose!
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Real Estate Appraiser, Data Analyst, CNAREA, DAR, Certified Appraisal Reviewer
2 周Great to hear from another industry veteran with so much insight. I tend to agree, there is more potential for the future of appraisal. Once you remove the concept that an appraisal is merely an opinion then you need to support conclusions with facts which is data, turning data into an enlightening story with the most probable outcome. There are many complex valuation questions or problems. Appraisers need to become the most trusted experts, using the most sophisticated tools and technologies to the highest standards of ethics and transparency.
Real Estate Appraiser
2 周In 2018, our company was introduced to a cutting-edge technology designed to revolutionize real estate appraisals by enhancing accuracy and efficiency. This advanced application enables precise plotting of land by inputting the technical description from the certificate of title. Additionally, the app analyzes property location details, identifying the neighborhood and notable landmarks in proximity to the subject property. By incorporating comparable listings, the app provides a comprehensive grid analysis and estimates the market value of the land. Furthermore, the application determines the market value of buildings and improvements by encoding the technical description, floor area, and year of construction. It calculates the estimated depreciated building market value, resulting in a total property value that includes both land and improvements. However, we decided to decline the offer because the provider required permission to store all information in their data banks. To protect our clients' interests and comply with our non-compete and non-disclosure clauses, we prioritized confidentiality and decided against adopting this technology.
Real Estate Appraiser
2 周Interesting
Real Estate Appraiser
2 周Interesting