Valbridge Property Advisors | Shaner Appraisals has been using Datappraise since its inception and we love it! Besides being an awesome comparable and property database, it is a narrative report writing tool that makes life easier. We were so excited about what a game changer Datappraise has been for our office that we created testimonial videos! Below Garrett Connolly (Real Estate Analyst) and Jason Roos, MAI (Director) share their experiences. "Datappraise has helped me get up to speed real quick. On a daily basis I use Datappraise to search for comparables or to enter data into the prospective fields in order to make it easier to search for properties at a later time. I also input information into the Datappraise system so that it helps the appraisers stay organized so they can stay focused on their main task which is getting reports out on time each day. The navigation in Datappraise is actually really easy, all of the fields are clearly labeled. Also, with Datappraise’s ability to link to Microsoft Word it makes it much easier for me to review reports, simply because I already know the field inputs, and that there will be a consistency throughout the entire report." "Datappraise has increased the productivity around our office through the use of its search function and database in general. We’ve been able to store all of the subject property data that we have on Datappraise as well as all of our sales, lease and expense comp data. That data is all stored in the cloud and is easily searchable. It’s also easy for us to select certain comparables, either sales, lease or expenses, and then assign them to the jobs we’re working on." If you want to learn more about Datappraise you can visit www.datappraise.com. Feel free to reach out to us as well - we are always willing to share our thoughts on this ever-advancing tool!
By Joanne Montgomery, Operations Manager As you can see by our previous post we are so proud of Andrew Baker our latest MAI! Many of you will say, “That is so great!” Now what does MAI mean and why is that so exciting?” When I came onboard at Valbridge Property Advisors | Shaner Appraisals a couple of years ago I would’ve asked the same question. Over time I’ve come to realize that a lot of education, hard work and experience go into those three letters. Just to become state certified an appraiser must undergo a large amount of education and training, but MAIs go even further. Below I’ve included more information about the MAI designation so you can be as excited for Andrew as we are! What is an MAI designation? The MAI designation is earned from the Appraisal Institute, signifying a high level of experience, education and ethics in the valuation of commercial and other types of property. What is the Appraisal Institute and why is it credible? The Appraisal Institute is made up of nearly 21,000 professionals across the world. According to its website: “For more than 80 years, the Appraisal Institute has been the world’s leading organization of professional real estate appraisers. The organization has led the way in fostering and promoting the highest standards of practice through its designation programs, peer review process, education, research and publishing endeavors.” How do you become MAI Designated? As deemed by the Appraisal Institute the criteria for an individual to become MAI designated is as follows:
Why is it important? Those working with an MAI designated appraiser know that they have the experience, knowledge and commitment to the profession. MAIs agree to adhere to the Appraisal Institute’s strict code of professional ethics. Continuing education and discipline for not following ethics and standards ensure that MAI’s are at the top of their game. The Appraisal Institute explains further, “The MAI designation has long been recognized by courts of law, government agencies, financial institutions and investors as a mark of excellence in the field of real estate valuation and analysis.” MAIs are equipped to value complex properties and provide in-depth market research, instilling confidence in their valuations. How can I find an MAI appraiser? Valbridge Property Advisors has nearly 200 MAI designated appraisers on staff. Our Kansas City office now boasts six MAI appraisers: Bernie Shaner, MAI; Laird Goldsborough, MAI; Jason Roos, MAI; TJ Hawks, MAI; Daniel Kann, MAI and Andrew Baker, MAI. You can also use the ‘Find an Appraiser’ search function on the Appraisal Institute website and search by designation. Want to learn more? http://www.appraisalinstitute.org/ About the Author: Joanne Montgomery is the operations manager for Valbridge Property Advisors | Shaner Appraisals, Inc. With the company since 2013, her work passions include: marketing, process improvement and company culture. Outside of work Joanne enjoys playing volleyball, reading and spending time at the lake with family and friends. Congratulations to our very own Andrew Baker on becoming MAI designated! The designation is held by appraisers who are experienced in the valuation and evaluation of commercial and other types of properties. To receive the MAI designation candidates must pass 13 classes that reflect 350 cumulative hours of instruction, pass a two-day comprehensive exam, hold an undergraduate degree from a four-year accredited educational institution, receive credit for 4,500 hours of specialized appraisal experience, and finally receive credit for a demonstration appraisal report relating to an income-producing property. Andrew has worked as an appraiser since 2008 and for Valbridge Property Advisors | Shaner Appraisals, Inc. since 2012. He specializes in blight studies and senior housing properties including independent living, assisted living and skilled nursing facilities. The Valbridge Kansas City office now boasts six MAI designated members of the appraisal institute, while Valbridge Property Advisors nationally has nearly 200 MAI designated members. We are proud to have Andrew on our team!
Have you ever had an appraiser come out, look at your property for a short time, leave and you think I just paid how much for that? There is actually a lot more that goes into your CRE appraisal report than the inspection. The aim of this post is to give you a behind the scenes look at the Valbridge Property Advisors | Shaner Appraisals process. Our appraisal process is threefold: gather data, analyze data and report the data. The property inspection is just one part of the process and falls within the ‘gather data’ section. 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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