Tim O’Brien's Journey in the Appraisal Industry: Following the Yellow Brick to Find What’s Behind the Curtain

In my latest podcast, I had the pleasure of chatting with Tim O'Brien - a full-time dad who juggles the carpool a few times a week and a part-time appraiser who has gained invaluable experience working in various aspects of the appraisal industry. Tim shared his insights and reflections from his years in the field, as well as his thoughts on what the future holds for the industry.

Throughout our conversation, several themes emerged, each offering valuable lessons for anyone working in this challenging field.

• First and foremost, Tim emphasized the importance of family and how it should always take precedence over work.
• Second, he also stressed that what lies behind the curtain isn't always what you expect, reminding us to approach every situation with an open mind and a willingness to be surprised.
• Third, Tim challenged the notion that technology is the enemy, suggesting instead that it can be a valuable tool for appraisers who are willing to embrace it.

From a young age, Tim O'Brien was immersed in the world of appraising, spending hours poring over MLS books with his father. Yet, it wasn't a passion for real estate that drove this young boy - it was simply a desire to spend time with his dad.

However, as he grew older and began to make his own way in the industry, Tim learned an even more valuable lesson - that family should always come first. This core value is reflected in his LinkedIn profile, which boldly declares, "Dad first, appraiser second." While our work may be important, it should never come at the expense of our relationships with those we love.

Tim's curiosity led him to explore what was behind the next-level curtain. He worked for an appraisal management company and climbed the management ladder, where he often heard people blame lenders for various issues. To gain a better understanding of the situation, he decided to work for a lender and joined the largest one in the country. In this role, Tim helped with valuation strategy, managed AMC partners, and collaborated with technology teams.

Although Tim enjoyed the job, he was shocked to discover that even the biggest bank in the world was running on an antiquated computer system, and this was 15 years ago! This realization opened his eyes to the fact that things aren't always as they seem, even at the highest levels of an organization.

Many people who oppose appraisal modernization do so out of fear of being replaced. According to Tim, appraisers should be focusing on more important factors, such as liability and fair compensation for their services. He says it is crucial to determine who will be held responsible if an untrained or unregulated inspector makes a mistake. While the general consensus in the appraisal community is that the appraiser is liable, this issue needs to be addressed and clarified through certification modification and scope of work modification. For Tim, the challenge is to determine who will be held accountable before such monetizations can be made. The provider who made the app may claim responsibility, but the person who used it or the individual who was physically present at the property may not know how the app works. Therefore, appraisers need to focus on consumer protection and public trust by identifying where liability lies.

If your career is centered around filling out forms, it's essential to be flexible and adapt to changes in the job and the needs of your clients. Tim shared an example from the medical industry, doctors wouldn't discourage patients from using a new cure for the common cold just because it hurt their business. Instead, appraisers should express their concerns and explain why they believe certain actions may be detrimental to the industry.

With his unique blend of experience and wisdom, Tim is a voice worth listening to for anyone seeking to gain a better understanding of the appraisal industry.