HOW WE GOT HERE
George Dell is the primary motivator of the Valuemetrics concepts.
In “discovering” appraisal as a career, he immediately believed that computers could do what appraisers were doing, but more accurately, and more neatly. In time, as computer use became common in valuation and the real estate industry, it seemed that the full potential of computerization was not being met.
Mr. Dell’s education in economics, particularly data analytic and statistical applications, drove him to return to school to learn to apply such applications to real estate analysis. The result was a 16 year education trek, starting with the renewal and deepening of mathematics fundamentals. Every semester or quarter saw Mr. Dell taking, auditing, or simply sitting in on one or two graduate level courses. These classes, from San Diego State University and the University of California at San Diego, and National University, covered a wide span of material seemingly relevant to the analysis of assets, including value and risk and “credibility” aspects. Enticed by the ever expanding base of new and relevant concepts and conflicts, each course opened a need for an adjacent or more advanced course.
Compulsively, he sat through and read texts with three colors of highlighter pens, night after night at local law libraries (because they were open till midnight). The courses and texts were in graduate and doctorate level information systems, statistics, and econometrics, and included risk (insurance) courses from the mathematics department.
Not needing additional degrees to further his career, Mr. Dell was free to focus time on the divergent, but integrative material most relevant to asset analytics. He discovered four ways in which the learning could enhance the progress of the valuation profession:
- Discarding unnecessary statistical assumptions due to the non-random-sample nature of (comparable) data selection;
- Trying and empirically applying simple statistical and graphical methods and techniques, (recognized and established by other disciplines), but not commonly used by appraisers;
- Challenging some of the long-held doctrine not necessarily inducive to reliable valuation practice;
- Combining current computer capability, robust data methods, with new appraiser competence.
The result was the “Power Tools for Appraisers” hands-on workshop series. PTA evolved into Stats, Graphs, and Data Science as well as an integrative collateral risk scoring business system currently in progress. The system merges specialty-trained appraisers with the best analytics gleaned from the years of study.
Mr. Dell’s teaching incorporates the most current knowledge about human learning. In a dynamic, exciting, and fun “professional family” experience, members are enabled to provide a more precise, unbiased, and understandable result for clients. All classes in this area are ‘hands-on” with laptop (or even desktop) computers encouraged or required.
His integrative solution approach brings home the personal benefit of personal ethics, USPAP, and a positive outlook on life, contribution, and service.