Asset Analyst:  More than an appraiser?

It is clear that the need for personal value opinion is going away.  Yet the old appraisal practices and standards require an opinion.  The new way is cleaner.  Show your work – Just like your third-grade teacher told you.  The old standards focus on the appraiser.  The new standards focus on the work.

The old requires believability.  The new way delivers reliability.

Asset Analysts^© are actively learning the modern methods of data science.  Asset Analysts^© are dedicated to providing clients with results.  Results made possible through refined judgment, complete data, and computation skills.  Results made possible by optimizing the brain-machine alliance.

Legacy appraisal process starts with a personal judgment of ‘comparable’.  It then proceeds to adjust based on personal experience, hazy support, or cheat sheets.  It ends with a personal opinion.

Evidence Based Valuation (EBV)^© applies the principles of the science of data.  Appraiser market knowledge exploits modern algorithms, complete data, and the machine-brain advantage.  The Asset Analyst is a trained expert in data science principles focused on valuation, risk scoring, fundamental and forecast value.  Expert judgment is required.  It’s updated and lifted into relevance.

Asset Analysts are learning how to deliver more than just a market ‘value’ opinion.

Who

A conceptual meeting was organized by a core group of influencers, in Detroit on September 25, 2019.  A variety of insightful relevant topics were discussed, with concerns and ideas for the evolution of the appraisal function into an eventual genuine profession.  The goals of the Asset Analyst^© scheme is to expand and modernize valuation and enable delivery of new products and services of greater usefulness to clients.  The overarching motive is the public good – to join with others who hold the same vision and constructive passion.

The universal value and belief was that “something has to be done.”

Everyone present was able to share their hopes, concerns, and ideas for the future of those who have appraisal competence.  We have come to believe that the old ways of delivering a ‘supported’ opinion is to be replaced with modern tools, and refined judgment to reproducible results, not personal opinion.

How

Each of the active contributors has taken one or both of the Stats, Graphs, and Data Science^X courses, and is proceeding to continue with the language of data science.  R is the underlying integrated software we recommend.  There are many free and inexpensive tutorials and classes available.

The underlying theory does not conflict with traditional appraisal theory.  It simply refines it to deal with modern data availability and today’s computer power.  The appraiser is put in the driver’s seat for future needs of collateral risk managers, investors, and equity clients (such as judicial and taxing entities).

We have started the private Community of Asset Analysts cloudspace for members only.  For others, please consider the National Appraisers Forum@Yahoo.com, GeorgeDell.Com, and Valuemetrics.info for ongoing information, and other opportunity.

Join us in the fellowship of the spirit.