The 69th Annual International Right of Way Association‘s Education Conference in Denver brought together an impressive gathering of professionals from various fields. Consultants, project managers, appraisers, and right-of-way agents congregated to share insights and explore advancements in the industry. The conference provided a platform for networking, exchanging ideas, and discussing key topics that shape the world of right of way.
Diverse attendance and exhibits
One notable aspect of the conference was the diverse representation of attendees. The event drew a significant number of consultants, project managers, and professionals working closely with appraisers. Among the attendees, approximately one-third were appraisers, while the remaining two-thirds consisted of right of way agents. This mix of professionals added depth and richness to the discussions throughout the conference.
Valcre’s presence
Valcre, the CRE appraisal industry’s trusted technology provider, made a strong impression at the conference. Our booth attracted attention, with attendees showing genuine interest in Valcre’s product. The conversations sparked during the event are set to continue, as Valcre’s innovative solutions promise to save time and increase profitability for professionals in the field. Sharing the exhibition space with Valbridge and the Appraisal Institute, Valcre solidified its position as a key player in the industry.
Infrastructure bill and future projects
A significant topic of discussion revolved around the Infrastructure Investment and Jobs Act that passed in 2021. While the funding has yet to be fully realized, the attendees expressed anticipation for upcoming projects. The prevailing sentiment among conference participants was that the industry is preparing for a busy period, with projects expected to commence in the near future. This anticipation has generated excitement and a sense of readiness among professionals attending the conference.
The importance of robust appraisal reports
One striking statistic shared during the conference was that 40% of eminent domain appraisals are contested. This statistic underscored the need for comprehensive, bullet-proof appraisal reports that can withstand legal scrutiny. The prospect of potential legal challenges has elevated the diligence required in creating appraisals. Consequently, the role of technology in facilitating accurate and efficient reporting gained significance. Attendees recognized the importance of leveraging technology to produce meticulous and defensible appraisals.
Eminent domain work: a lucrative and recession-proof field
The conference reinforced the perception that eminent domain work remains recession-proof and lucrative. The presence of potential infrastructure projects further heightened the prospects of increased demand for professionals in this field. With the passing of the infrastructure bill, the big question on everyone’s mind was when the funding would materialize and how it would impact the volume of eminent domain work.
Considerations for eminent domain and appraisal work
A key discussion topic revolved around the considerations when undertaking eminent domain work as an appraiser. The primary challenge lies in managing the high volume of reports efficiently, avoiding duplication of work, and leveraging data effectively. The need for streamlined processes and quick data analysis emerged as crucial factors in the successful execution of eminent domain projects, all of which can be solved by leveraging cutting edge technology.
Overall the conference provided a vibrant platform for professionals in the industry to gather, exchange ideas, and explore emerging trends. With a diverse range of attendees, engaging exhibits, and thought-provoking discussions, the conference showcased the commitment of professionals to adapt to changing landscapes and embrace technology. The anticipation of forthcoming projects fueled excitement among participants, highlighting the potential for increased demand in the eminent domain field. As the industry evolves, professionals will continue to focus on leveraging technology, generating robust appraisal reports, and building meaningful connections to thrive in this dynamic sector.
PS: In addition to this conference, Team Valcre also participated in the Chicago Chapter of the Appraisal Institute’s golf outing, further connecting with industry professionals and fostering valuable relationships in Chicago.
