Let’s say you are doing a home renovation. You’d expect the professionals you hire (from the carpenter to the plumber) to actually be able to do the work you need. When we hire any professional for any task, we expect them to be professionals who can do their job well.
The same is true for Certified Valuators and Analysts® (CVA’s). In fact, the NACVA’s Professional Standards says that, “A member shall only accept engagements the member can reasonably expect to complete with a high degree of professional competence.” Basically, it is unethical for CVA’s as professional valuators to say we can do something that we can’t.
However, this standard can prevent us from taking engagements that we aren’t qualified to do. So how do we take our practice to the next level? In a recent article for Association News, the newsletter for the National Association of Certified Valuators and Analysts, I suggest three main ways in which valuators can expand their knowledge, and therefore their practice.
I suggest you explore the tools that the NACVA makes available to members (and valuators should become members to access these tools). In my decades of work as a valuator, I have also found that a network of trusted peers (whether through your firm or the NACVA’s Mentor Support Program) can be really helpful. Finally, there are so many resources that others have to offer (including this blog and my book). Simply searching the internet for what you need may help you learn more.