Description
Appraisers have access to multiple tools to develop and support adjustments provided by MLS systems, independent developers that have templates using excel, and open source applications like Python or R-Studio. Appraisal blogs often have complaints that the tools do not work. It is the common “Garbage In Garbage out” phrase applied. Preparing the data for use in any tool is 80% of the effort. If the data is not cleaned and transformed no tool will provide credible or reliable results.
Participants will learn how to effectively clean and transform the data and how to interpret and apply the results obtained from the tool of the appraiser’s choice to support the development of a reliable opinion of value.
The course is the first of a series of courses an appraiser can take being developed by the instructor or can be supplements for courses provided by others. Three key takeaways from this course are:
- Data Interpretation and Application: While appraisers don’t need to be experts in math, statistics, artificial intelligence, or computer programming, they must understand how to clean, transform, interpret and apply the data to be usable in the tools available to them.
- Automated Valuation Models (AVMs): AVMs should not be viewed as competition but as an additional data point for analysis. The real competition comes from the data scientists and analysts who develop these models. As universities churn out new experts in data analysis, appraisers must stay informed and adapt to this evolving landscape.
- Body of Knowledge: This course equips appraisers with the skills to harness the power of data and technology, ensuring they remain competitive and relevant in today’s data-driven appraisal environment.
Your Instructor for this course is Keith Wolf.
With over 44 years of experience, Keith is a seasoned Collateral Credit Risk Manager specializing in real estate brokerage, collateral valuation, tax appeal, and portfolio risk management. His extensive background spans underwriting, construction services, regulatory compliance, and vendor management, with a strong focus on innovation through data science, AI, and machine learning.
Keith is the owner of the Real Estate Appraiser Data Analytics group on LinkedIn, where he shares insights on alternative valuation methods and risk modeling. He brings deep expertise in contract negotiation, process improvement, and presenting to rating agencies. Skilled in regression analysis, generative AI, and data visualization, Keith blends technical acumen with decades of market experience to drive informed, strategic decision-making in real estate finance.
View your state approval here:
More state approvals coming soon.
Wisconsin
