After thorough analysis and review of the relevant literature, sometimes simple is better. If we are taking 20% but that reflects 1/2 of a businesses display space, then the impact is likely closer to 50% than a quarter of the value.
29 October 2012
How to determine if and how much impact to value?
It is always a challenge to consider the impact a proposed road widening will have on a property. Sometimes designs are amended when the view on the ground makes an impact quickly discernible. But how do you know what impact, if any, there is to value?
After thorough analysis and review of the relevant literature, sometimes simple is better. If we are taking 20% but that reflects 1/2 of a businesses display space, then the impact is likely closer to 50% than a quarter of the value.
After thorough analysis and review of the relevant literature, sometimes simple is better. If we are taking 20% but that reflects 1/2 of a businesses display space, then the impact is likely closer to 50% than a quarter of the value.
25 September 2012
Just wow
Below is a redacted version of some emails between one of my largest clients and myself about a recent competitive bid.
On Sep 25, 2012, at 8:33 AM, "Client, Mr" wrote:
RE: Project No: ABCD-456-00(000) Georgia Co.
P.I. No. 1234567
The following contractors have been awarded the work on the above referenced project:
Contractors
Service
Awarded Bid
Blah blah real estate appraiser
Appraisal Reports (Level 2)
$ 6,135.00
No Bids Submitted
Cost to Cure
Best Regards;
Mr Client
From: Christina Holmes [mailto:christina@christina-holmes.com]
Sent: Tuesday, September 25, 2012 9:28 AM
To: Client, Mr
Subject: Re: Project No: ABCD-456-00(000) Georgia Co Appr Bid Award
Is this the price they bid or are we missing a digit somewhere?
iPhone
Reply from Mr Client:
Actual bid
My bid? $32,600, 23 appraisals - average fee $1,417 each
Winning bid? $6,135 for the same 23 appraisals, average fee $266 each
I believe we should earn more than that for the substantial amount of education, licensing, experience, time and energy our profession requires, not to mention our court fees under these contracts are $50/hour - about 1/3 the industry average.
Just wow
On Sep 25, 2012, at 8:33 AM, "Client, Mr"
RE: Project No: ABCD-456-00(000) Georgia Co.
P.I. No. 1234567
The following contractors have been awarded the work on the above referenced project:
Contractors
Service
Awarded Bid
Blah blah real estate appraiser
Appraisal Reports (Level 2)
$ 6,135.00
No Bids Submitted
Cost to Cure
Best Regards;
Mr Client
From: Christina Holmes [mailto:christina@christina-holmes.com]
Sent: Tuesday, September 25, 2012 9:28 AM
To: Client, Mr
Subject: Re: Project No: ABCD-456-00(000) Georgia Co Appr Bid Award
Is this the price they bid or are we missing a digit somewhere?
iPhone
Reply from Mr Client:
Actual bid
My bid? $32,600, 23 appraisals - average fee $1,417 each
Winning bid? $6,135 for the same 23 appraisals, average fee $266 each
I believe we should earn more than that for the substantial amount of education, licensing, experience, time and energy our profession requires, not to mention our court fees under these contracts are $50/hour - about 1/3 the industry average.
Just wow
12 September 2012
bidding is a process
On my way back to the office from a competitive bid meeting, reflecting on the process. Competition is good and surprisingly there was quite a lot of it at today's bid - maybe 10 real estate appraisers for a seven parcel project. The good news was, the appraisers in the room are all long term, professional valuation folks with many years of experience. The surprise is that we call showed up. It was, as one appraiser put it, a great social interaction. Next time, I may check with the team manager before heading that way . . .
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