Class Valuation executive talks about modernizing the space by bringing in new and diverse appraisers
A shortage of staff during the pandemic-era housing boom has the appraisal industry looking for creative ways to attract and hire new talents. This problem came with other challenges, such as social distancing mandates that complicated on-site property appraisals, which only made John Hamameh (pictured) more passionate about enhancing the appraisal process.
Mortgage Professional America sat down with Hamameh, chief legal and compliance officer of Class Valuation, to know more about his work and how they are implementing new technology to change the game.
“We have seen such a shortage of appraisers,” Hamameh told MPA in a recent interview. “So, part of the reason we decided to go down the path of building out the staff model is not only to be able to provide faster and more efficient appraisals for our clients but also to be able to establish a ‘POD model’ which will help bring new blood and new entrants into the appraisal industry.”
Hamameh further explained that Class Valuation’s POD model pairs supervisory appraisers with up to three new trainees and offers them a “competitive and incentivized wage.”
“It is essentially a career pipeline from the beginning as a trainee, to then becoming a licensed appraiser, then eventually becoming a supervising appraiser who can take on trainees of their own,” Hamameh said. “This model will also hopefully be a big contributor to bringing more diverse candidates into the industry as well, which we can all agree is much needed.”
“We understand our industry is changing; we want to be the ones leading that change – not only by introducing technology that will help modernize the space but also by scaling our staff appraiser program to bring new and diverse appraisers into the industry,” he added.
You can learn more about the company’s POD model and Hamameh’s career journey by reading the full interview here: Shaping the future of appraisals.