Art of appraising is juggling act
Real estate sales can be made or broken by an appraisal, making those who do the appraising critical economic gears. By and large, most of those attending the mid-Hudson’s chapter of the Appraisal Institute at the Overlook Lodge in Bear Mountain Park on Sept. 10 said they were taking stock of an industry that is aging and in need of new blood, but that also has a higher bar to enter.
Dozens of appraisers from Westchester, Dutchess, Orange, Ulster and Rockland counties came to the dinner to hear comments from Appraisal Institute Chairman/President Jim Amorin, who encouraged members to keep up with the changes in their industry: “Even though we are experiencing tough times, we need to be on the learning curve when it comes to new technology that is increasingly being incorporated into the residential marketplace.”
Holger Sternberg, vice president of the Appraisal Institute’s Mid-Hudson chapter, said the average age of designated members is over 50. “We’re doing a lot of education programs and working with colleges, encouraging them to include our programs so the education piece is taken care of for our future appraisers and those who are constantly brushing up their skill sets.”
Prior to the financial fallout on Wall Street, a college degree was not required. Today, to become an MAI (a member of Appraisal Institute), a four-year degree from an accredited college or university for commercial appraisers – two year degrees for residential appraisers – is required.
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