Be successful when selecting and collaborating with an appraiser by learning the basic techniques and methods of commercial real estate appraisals.
Ever heard the war story where an attorney receives an appraisal report at the eleventh hour, only to find that some critical element of the opinion does not match the particulars of his case? Or the appraiser's war story where they were provided with an effective date of value, and later had to re-do the appraisal on a holiday weekend because the client realized that he had specified the wrong date? When appraisers and their clients do not share an accurate understanding of the elements of the assignment, the opportunity for negative outcomes increases. This topic will provide a brief overview of commercial real estate fundamentals, and the basic techniques and methods available to appraisers. This basic information will then be applied to the many variables inherent in the appraisal contracting process. With an understanding of these variables, you will learn to accurately convey the appraisal problem and reach solid agreement with the appraiser on the assignment conditions necessary for a relevant and credible appraisal opinion. Use of the techniques presented in this information will help you to save time and money by avoiding common mistakes which may occur when ordering an appraisal.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Introduction: Using Commercial Real Estate Appraisal Fundamentals to Successfully Contract for Appraisal Services
- The Appraisal Opinion Is Only Useful If It Addresses the Correct Appraisal Problem
- Teamwork Is Required to Define the Appraisal Problem
- An Appropriate Scope of Work Is the Road Map for Solving the Appraisal Problem
Understanding the Subject Property
- Commercial Land
- Improved Commercial Properties
Appraisal Basics for Commercial Real Estate
- The Three Approaches to Value
- Interest to Be Appraised
- Type of Value to Be Appraised
- Effective Date of Value
- Reporting Options
Defining the Scope of Work
- What Is the Appraisal Problem to Be Solved?
- Assignment Conditions
- Additional Information Which May Be Required
Strategies for Successfully Contracting for Valuation Services
- Gathering the Data Necessary to Identify the Problem to Be Solved
- Matching the Appraiser to the Assignment
- Accurately Defining the Appraisal Problem
- Agreeing Upon the Appropriate Scope of Work
- Agreeing Upon the Level of Detail Required
- Phasing the Assignment
- Preparing a Well-Written Engagement Agreement
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 31, 2024.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IN CLE 1.1
- This program has been approved by the Indiana Commission on Continuing Legal Education. Participating attorneys are eligible to receive up to 1.1 hours of Distance Education credit.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 62 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- OH CLE 1.0
- This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 1.0 CLE credit hours. Please note: No more than twelve (12) hours of self-study CLE credit for any biennial reporting period may be earned by an Attorney or Judge under Regulation 409.2. To fulfill CLE requirements for self-study, web-based programs, you must complete 100% of the polling questions during the program. Your hours will be filed electronically within thirty (30) business days by Lorman Education Services provided you fulfilled 100% attendance and polling questions answered.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- TN CLE 1.03
- This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.03 hours of credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- MO CLE 1.3
- NJ CLE 1.3
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Shawn E. Wilson, MAI
Compass Real Estate Consulting, Inc.
- The owner of Compass Real Estate Consulting, Inc., in Lakeland, Florida
- 32 years of eminent domain and litigation–related appraisal experience, and has authored articles, presentations, and seminars on a variety of valuation topics
- Contributing author to the Appraisal Institute textbook, Applications in Litigation Valuation: A Pragmatist’s Guide, and her professional articles have been published in The Appraisal Journal (Appraisal Institute), and Right-of-Way Magazine (IRWA)
- Has authored seminars and presentations on valuation topics, including a litigation appraisal course for the Appraisal Institute in 1995
- Has been a presenter at national conferences for the Appraisal Institute, the International Right-of-Way Association, and the International Association of Assessing Officers (IAAO)
- Served as an instructor throughout the United States for education providers such as the Appraisal Institute, Lorman Continuing Legal Education, CLE Continuing Legal Education, American Law Institute CLE, the International Right-of-Way Association, and the Association of Eminent Domain Professionals
- Has been qualified and has presented testimony as an expert witness in numerous jurisdictions, and has been appointed as a special magistrate to hear ad valorem tax appeals in several Florida counties
- Areas of specialty include analysis of contributory value, and diminution in value related to stigma, NIMBYs, landfills, and other causes
- State-certified General Real Estate Appraiser in Florida, Tennessee, and the island of Guam
- Has been an MAI member of the Appraisal Institute since 1993, and served in a variety of elected positions, including five years on the National Board of Directors
- Served on the Appraisal Practices Board of The Appraisal Foundation from July 2014 to September 2017, including one year as APB vice-chair and one year as APB chair
- Member of the International Right-of-Way association, and is a past president of the Association of Eminent Domain Professionals
- Has also been an AQB certified USPAP instructor since April 2018
- Can be contacted at at www.ShawnWilson.com
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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