The Future of Appraisal: Smarter, Faster, and Still Human
For years, the appraisal industry has been buzzing about artificial intelligence (AI). Will it replace appraisers? Will reports basically write themselves? Will we all be out of a job? Spoiler alert: No—at least not those willing to adapt. But change is coming, and it's arriving faster than many expect.
The Next Five Years: Appraisers in the Driver's Seat
Currently, AI is not taking over the role of appraisers; instead, it is serving as their assistant. The most significant change we observe is the incorporation of AI into current workflows, either through API or manually. AI will generate entire sections of reports using your inputs and market data.
In the next few years, appraisers will spend less time writing narratives from scratch and more time editing, refining, and validating AI-generated content. The role will evolve from author to reviewer and editor, ensuring the final product meets professional standards and reflects sound judgment.
Beyond 2030
Looking a bit further out, the game really changes. As AI models get better at understanding context—not just numbers, but the *why* behind them—we'll start seeing full AI-generated reports.
Imagine this: You inspect a hotel property in the morning—capturing photos, jotting down notes—and by the time you return to the office, a complete draft of the appraisal report is ready for review. You spend the afternoon refining the analysis, applying your expertise, and ensuring every detail is accurate before sending it out that same day. No more weeks long turn around times for a commercial appraisal report.
Why This Matters (and Why It’s Not Scary)
This evolution isn’t about taking jobs—it’s about efficiency. As AI handles the heavy lifting, appraisers will focus more on the analysis and value-impacting factors, rather than trivial tasks. Complex assignments, unique properties, and litigation-support work will continue to require human expertise.
And let’s not forget: USPAP isn’t written for robots. Human accountability will remain central to credible appraisal practice.
So, can AI replace appraisers? The short answer, no. But in a decade, we will see a very different industry but still dependent on human experts.
Where does Ekitmo Advisors stand? Right at the intersection of expertise and innovation. We’re embracing AI as a tool—not a threat—to deliver smarter, faster, and more reliable valuations.
Ready for the future? We’re already there. Let's talk.
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