If the growth of your BV practice is being stymied for lack of qualified and…
By John Borrowman, CPC
Borrowman Baker, LLC, BV Staffing + Consulting
Beginning with our Q1 2005 issue, we’ve been exploring valuation training available from each of the credentialing organizations. We think training is critical to meeting the staffing shortages that plague the industry. Practices all over the country are stymied in their growth for lack of talent to shoulder the load.
In our look at training available through IBA, we’ve found what looks like an interesting contrast between it and those we’ve examined in earlier articles. To be specific, IBA’s training seems less focused on achieving a credential and more on cultivating a high level of professionalism in the industry. This was one of the messages that came through in our talk with Paul Hyde, of Hyde Valuations in Parma, ID.
It’s not that the training isn’t focused on the credential, points out Hyde, it’s that the credential represents a level of achievement that includes both education and experience. IBA’s introductory course is two back-to-back four-day sessions. Following that, says Hyde, “You’re expected to do some valuation work for awhile with someone who knows what they’re doing and can review your work”. For many, a next step is the report writing course that can help hone those skills. Followed by more experience. Followed by more advanced courses, including the review class that precedes the exam.
The system reflects the philosophy that valuation is not an academic enterprise alone. Says Hyde, “IBA trains you and you’re responsible for going off and getting the experience.” Historically, IBA hasn’t had a specific experience requirement, though that position may eventually change.
By the same token, IBA doesn’t have specific course requirements before sitting for the exam. Without having some actual experience, though, you’re not going to get through the process. According to Hyde, “This is what sets the IBA credential apart. You actually have to actually be an appraiser and work in the industry before you’re good enough to get through the system.”
It was the personal touch to IBA’s training that attracted Hyde. He described a non-competitive environment, where instructors really helped students. Courses do change in response to changing industry needs. Course content review has become a ritual preceding every annual conference. Requests from practitioners have also resulted in development of courses.
Hyde finds something for everyone in the IBA training. Staffers at the two, four and more experienced level can choose beginning or intermediate courses, or get into a more specialized area of expertise. “There is a real-world aspect to IBA courses.”
For more information about training leading to the CBA credential can be found at the IBA website.