Happy belated Father’s Day! In honor of dads we decided to interview our office father and son duo – Bernie (our founder) and Derek Shaner (our land expert). Bernie has mentored everyone in our office, but no one more than Derek whom he shares literal DNA with. Bernie: Q. What makes a good appraiser? I think a good appraiser has to have a variety of skills. · Certainly a good appraiser has taken and passed the necessary classes, preferably from the Appraisal Institute because their courses are truly better than others I have found. · A good appraiser has a working knowledge of the computer applications that pertain to their specialty. · A good appraiser must be willing and able to do the research necessary to find data and confirm the details of comparables and other information pertinent to the assignment. And the quality that I think is most important for one to be a good appraiser, · The individual must have good common sense! An appraiser must have good judgment to be able to know what is important in the valuation of the particular property being appraised, and accurately reconcile the data to arrive at a reasonable and reliable opinion. Q. Why do you love appraising? I enjoy the variety of assignments, as each appraisal offers a slightly different challenge. I especially like the challenge of difficult assignments. Q. When Derek chose to go into the profession what advice did you give him … I am not sure exactly when, but I know that I have told him often that we will always do our work the right way. We will lose clients from time to time, but if we lose them because we have not made their desired value, then that is just fine. If the criteria for being approved to work for a client is to make their deals work every time, we do not need that client. Q. … and how did you feel? It scared me a little. We all want our children to succeed, and when your child goes into your line of work the pressure to succeed is even greater. Thankfully it has worked out really, really well. I am very proud of the appraiser Derek has become. Derek: Q. What lessons have you learned from your Dad? There are too many to mention. At the end of the day what has rubbed off on me the most, professionally and personally, is to be a good, honest, trustworthy person. In our line of work these qualities are essential, and we must have strong morals. Q. What made you want to follow in his footsteps? As a kid in school when asked about what I wanted to be when I grew up, I would always say an appraiser…..even though I had no idea what an appraiser was! Growing up I saw my sister, uncle, and other family members play a role in the company, and I wanted to be a part of it. It was very appealing to think that I could work just feet from my dad every day. I am lucky that he is as knowledgeable as he is, because there is no better mentor for someone entering this business. Q. Growing up around appraising what impact has Valbridge Property Advisors | Shaner Appraisals had on your life? It has provided a good opportunity for me to have a career that will last a lifetime. I also enjoy knowing that the additional time, education, and effort I put into the job is rewarded. The amount of success or failure I have falls primarily on my shoulders. I like the accountability, and it has kept me driven.
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1. Licenses and designations are important
Commercial real estate appraisers can be General Certified by their respective states, and hold the MAI designation from the Appraisal Institute, which signifies the highest achievement in real estate appraisal. 2. Experience with the local market Identify appraisers who are specialists in the subject property type, and are deeply familiar with the surrounding market. 3. The market’s view of the firm There is a reason that certain appraisal firms have been in business for many years. A reputation for integrity, quality, and reliability are important and the market they serve recognizes that. 4. Your goals for the appraisal process What appraisal problem are you trying to solve? Is there a potential purchase or loan? Are you interested in appealing your taxes? Is there an IRS question (estate planning, inheritance)? 5. The difference between a restricted report and an appraisal report There are two types of reports that you can order from a professional real property appraiser. A restricted appraisal is typically used for internal purposes (e.g. making sure you are not paying too much or leaving money on the table), and it assumes the user of the appraisal is very familiar with the property. An appraisal report is a more detailed document often used by lenders, attorneys, CPAs, etc., and includes more information than a restricted appraisal. Both appraisal types should give you the same answer (value conclusion), but the level of reporting detail changes. |
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