There is a learning gap for new appraisers. Recent statistics from the Philippine Regulatory Board of Real Estate Service shows that the total number of licensed appraisers is now at 9,932 (PRBRES). But most of the newly passed appraisers need coaching and mentorship from the experienced and competent appraisers. “How do I get started?”, the common question asked by a newly passed appraiser.
The appraisal coaching that PAREB shared to its members is worthy to mention, spearheaded by Appraiser Gus Agosto, the Director-in-charge, held recently a coaching session in Cebu.” The appraisal coaching is not only a set of theories and coursework”, he said. Appraisal is more than a body of knowledge, it comes with many requirements, a definite set of skills that has many facets and variations. Appraisers have to know how to do many things, from measuring properties accurately, analyzing the economic condition and comps to manage schedules, billing and plan inspection trips.
But equally important to the set of skills and practical knowledge, is the observance of high ethical standards and adherence to moral standards with an emphasis on objectivity and honest exchange. A competent appraiser does not only possess a number of years in practical knowledge and experience, but also imbued with ethical standards.
In answering the question of what is our profession, the resounding answer always has to be that appraising is a profession built on the foundation of public trust. This trust can be viewed in the burgeoning demand for the service of appraisers in real estate transactions, government agencies, court litigation and insurance.
Appraisers, in their objective opinions and judgments, are keepers and protectors of this trust. The reality is, in overcoming the learning gap, more and more appraisers should be trained and be elevated to a new and higher level of professional practice.
“In so doing, the public trust in the profession will also be elevated to a new and higher level.” Director Gus ended.