In this episode, Kenon Chen, discusses the nuances of property valuation, from data points to valuation methods, shedding light on the challenges and opportunities in the industry. Keenan shares insights on the transformative role of technology, the digitization of homes, and the impact on traditional appraisers, emphasizing the need for unbiased opinions and recent, accurate data.
00:01-00:05: Explore property valuation nuances, data points, and complexities. Explain valuation methods, historical data use (especially for new construction), and the importance of accurate valuation for property stakeholders.
00:06-00:10: Discuss challenges, opportunities, and technology's role in property valuation. Introduce human-based evaluation, emphasize unbiased opinions post-financial crisis, and overview traditional appraisal, emphasizing digitization's necessity.
00:11-00:15: Discuss technology's role in creating digital floor plans for homes. Address concerns about digitization's impact, mention a free digital home appraisal process, and compare the U.S. real estate market with other countries.
00:16-00:20: Discuss digital floor plan benefits, challenges in relying on property records, and real estate industry regulatory changes. Mention programs allowing property data collection for consumer cost savings and credit rating agencies supporting innovative valuation approaches.
00:21-00:25: Briefly discuss experiences during the 2008 financial crisis, share anecdotes about networking and building business relationships, reflect on personal growth, and emphasize the significance of relationships in career success amid market uncertainties.
00:26-00:30: Discuss increasing housing affordability, supporting new homeownership models, and encouraging innovation and change in the real estate market. Overview fractional ownership models and collaborative approaches to homeownership. Offer advice for young individuals to focus on relationships, authenticity, and adding value to others' lives.
00:31-00:35: Reflect on personal growth, finding authenticity through education and self-discovery. Acknowledge the importance of relationships in career development and success. Recognize the mistake of trying to lead like someone else and the value of authenticity. Discuss the transformational moment of going back to school, gaining new perspectives, and offer advice on continuous practice, staying authentic, and finding passion in impacting others positively.
00:36-00:40: Explain the importance of relationships in both short-term and long-term success. Conclude with final advice for young individuals to focus on relationships, authentic interactions, and adding value. Acknowledge the challenge of maintaining relationships in the business world and reference a quote from "The Big Short." Offer closing remarks and express gratitude to the audience and hosts.
