I came home from ValExpo last week feeling good about where valuation is headed.
Not because everything is settled. It isn’t. UAD 3.6 is creating its share of headaches, appraisers are adapting to more complex assignments and workflows, and there are still plenty of questions about what the profession will look like a few years from now.
But there was an energy at ValExpo that was hard to miss.
People are building things.
There were more appraisal technology companies than I expected, including several newer names generating real interest. Established companies are pushing their products forward. Appraisers are testing new workflows. And some companies are looking beyond traditional lender work altogether.
For an industry that has spent a lot of time talking about disruption, it was refreshing to see so many people actually working on what comes next.
A Lot More Choice for Appraisers
ValueMate was one of the surprises for me. I didn’t get to see their demo, but I heard about it over and over again from people who did. There was genuine buzz around what they showed.
I did spend time with Appraisal Flow, and I was impressed with what they are building on both the appraisal software and appraisal management side. Appraisal Pilot was another newer name at the show, and there were several others I simply didn’t have enough time to visit.
True Footage isn’t new, but I had an opportunity to see a demonstration of their upcoming 3.6 appraisal software (not yet GSE verified). It was impressive, particularly because they’re building around market analysis and adjustment tools that have already been in the market and useful to appraisers for some time.
ApprAIz and Automax have also made significant strides in their products and were at the event. Boxli was busy as well. Joan Trice was there, and with Boxli now ready to go and partnering with other software companies, there was a lot happening around them.
What struck me wasn’t that one company had figured out the answer.
It was that we’re finally seeing real choice.
That’s good for appraisers.
These platforms don’t all approach the job the same way, nor should they. Different offices have different workloads, workflows, processes and comfort levels with technology. A platform that makes perfect sense for one practice may be completely wrong for another.
So I don’t think the question is going to be, Which appraisal software wins?
The more useful question is, What works for the way I practice?
Competition gives appraisers options, and it gives software companies a reason to keep improving. From what I saw at ValExpo, we’re moving toward a market where appraisers will have several legitimate choices rather than feeling like they have to organize their businesses around one way of working.
That’s progress.
Banks Was the Belle of the Ball
If there was a belle of the ball at ValExpo, it was Banks Valuation and Banks Technology.
They had a strong presence throughout the event and also did something I think this profession needs more of: they created opportunities for people to spend time together.
Banks hosted some fun events where appraisers could get away from the exhibit floor, talk, catch up and enjoy each other’s company. That sense of community was noticeable.
They also launched Home Vault, which was one of the more interesting concepts I saw at the show.
What caught my attention about Home Vault is that it looks toward a part of the valuation market that I believe has been underdeveloped for a long time: non-lender valuation work.
There is an enormous amount of real estate decision-making outside the mortgage transaction, and much of it can benefit from credible valuation expertise. Home Vault is positioning itself to harness some of that opportunity, including allowing appraisers to register directly for work.
I think that’s worth watching.
The future of appraisal cannot only be a conversation about how we complete lender assignments faster. There is a much bigger market for valuation expertise if we’re willing to build it.
Then There Is 3.6
UAD 3.6 was naturally woven through just about everything.
My sense leaving ValExpo is that it’s off to a reasonably good start. More orders appear to be moving through the system, people are learning, and the technology is catching up.
There are still frustrations. Appraisers talked about software and delivery issues, and experiences vary depending on the platform and workflow.
One product that deserves particular mention is AIVRE. From my experience and what I’m seeing and hearing, AIVRE has emerged as one of the strongest contenders in the UAD 3.6 software space and appears to be handling the transition particularly well.
There has also been some incorrect information circulating about the company, including claims that AIVRE is owned by Clear Capital. It is not. In a market moving this quickly, it’s important to separate legitimate product comparisons from inaccurate information and let the technology compete on its actual merits.
Appraisers are also continuing to work successfully with other platforms, including SFREP and, in many cases, TOTAL, although I heard about some technology and delivery issues that are still being worked through.
And this brings me back to competition.
There doesn’t need to be one winner in appraisal software. AIVRE may be the strongest fit for one office; another platform may make more sense for someone else’s workflow. What matters is having credible choices and enough competition to keep every company improving.
None of the bumps we’re seeing seem particularly surprising given the size of the change.
What may prove more important are the lessons we’re learning now.
UAD 3.6 isn’t simply changing a form. It’s forcing the industry to rethink data, workflow, software, analysis and, in some cases, the way appraisal offices operate.
By the time we get through the next major rollout in November, we should know considerably more.
That makes 2027 a year I’m going to be watching very closely.
The Bigger Thing I Couldn’t Stop Thinking About
Walking around ValExpo, I kept coming back to something that has less to do with any particular software company.
Appraising is getting harder.
Not necessarily harder in a bad way. More sophisticated may be the better description.
There is more data. More technology. More analysis. More reporting complexity. More to understand about markets. More continuing education. More administrative work. And increasingly, more expectation that an appraiser can put all of those pieces together and still run an efficient business.
That’s a lot for one person.
The independent appraiser has been an important part of this profession for decades, and I don’t see that disappearing. But I do think the economics and complexity of the business are beginning to favor something we haven’t historically done particularly well:
building together.
I’m talking about firms and professional structures that can support training, mentoring, technology, administration, quality control, research and specialization—resources that become increasingly difficult for one person to provide entirely on their own.
We’re already seeing examples of organizations achieving scale in different ways: True Footage, Banks Valuation, Ascribe, Velox and others.
I don’t think that means every appraiser needs to work for a large company.
I do think it means we should be paying attention.
The appraisal firm of the future may look different from the appraisal firm of the past. We may see more partnerships, larger practices, shared infrastructure, specialty teams and networks that allow appraisers to remain independent in their judgment without having to be independent in absolutely everything they do.
To me, that’s one of the more interesting opportunities ahead.
There Is Still Plenty of Room to Build
The other message I took from ValExpo is one I hope younger appraisers and entrepreneurs in this profession hear:
There is room here.
Look at the growth of companies like Banks Technology, TrueFootage and RSDS. Look at the number of new products appearing around UAD 3.6. Look at the companies finding problems that weren’t being solved a few years ago and building businesses around them.
There are still enormous opportunities in valuation.
Some will come from technology. Some from data. Some from better education and training. Some from building larger and more sophisticated appraisal practices. And I believe some of the biggest opportunities may come from taking valuation expertise into markets we haven’t traditionally served very well.
That’s what made ValExpo encouraging to me.
I didn’t leave thinking technology had figured out the future of appraisal.
I left thinking the valuation profession is beginning to build its future.
There will be mistakes. There will be software that works for some appraisers and not others. UAD 3.6 will continue to teach us lessons. Business models will change. New companies will emerge, and some existing ones will adapt.
But there was momentum in the room.
And perhaps more importantly, there were people willing to build.
That’s a good place for a profession to be.