Independently prepares market value appraisals on complex real estate assets with review by Director, Managing or Director, Sr. Managing (one of whom must be [MAI] Member of the Appraisal Institute). Prepares real estate appraisal reports from start to finish on simple or complex properties, including all Appraiser responsibilities as well as performing detailed appraisal analysis in order to value real estate. May mentor trainees and/or develop new client relationships.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Identifies value to be estimated by studying appraisal request, problem to be solved, and scope of the project, such as, mortgage financing, insurance replacement cost calculation, estate valuation, tax appeals, equitable distribution, corporate employee relocation, investment, or sale; identifying property characteristics.
- Determines valuation method by selecting approach and techniques for valuing property, i.e., cost, direct sales comparison, and income capitalization; identifying property characteristics and attributes.
- Researches and analyzes property information by collecting, verifying, and analyzing data regarding inventory of competitive properties, sales and listings, vacancies and offerings, absorption rates, demand studies, social, economic, governmental, and environmental characteristics, restrictions, encumbrances, covenants, contracts, declarations, special assessments, ordinances, cost and depreciation, income/expense and capitalization rate, history of ownership, and use of the property; conducting analyzes and studies, e.g., land utilization, supply and demand, economic feasibility, highest and best use, marketability, development, litigation support; searching databases; inspecting property; interviewing people in a position to understand the property.
- Prepares appraisal report by describing physical and economic property characteristics, appraisal procedures used, and information analyzed; disclosing extraordinary assumptions, and hypothetical and limiting conditions; presenting supportive reasoning.
- Maintains organization reputation by conforming to the Uniform Standards of Professional Appraisal Practice (USPAP); keeping information confidential.
- Updates job knowledge by tracking current real estate values and property development potential, including land use restrictions; participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations for the purpose of conducting accurate appraisals.
- Contributes to overall organizational goals by adding to database, setting up a library, specializing in niche real estate markets, mentoring trainees, and engaging in client development.
- Other duties may be assigned
No formal supervisory responsibilities in this position. Coordinates and assigns tasks to co-workers within a work unit and/or project team. Leads project teams and/or plan, and supervise assignments of lower level employees. May have responsibility for identifying training needs, tracking performance, coaching, and motivating a work unit and/or group.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and EXPERIENCE
Bachelors Degree (BA or BS) from four-year college or university required. Master’s degree (MA, MS or MBA) preferred. A minimum of (8) years commercial appraisal experience and (3) years commercial appraisal review experience. Institutional review experience is a plus.
CERTIFICATES and/or LICENSES
Must have General State Certification/License. MAI preferred
Ability to comprehend, analyze, and interpret complex business documents. Ability to respond effectively to sensitive issues. Ability to write reports, manuals, speeches and articles using distinctive style. Ability to make effective and persuasive presentations on complex topics to employees, clients and/or public groups. Ability to motivate and negotiate effectively with key employees and client groups to take desired action.
Requires above-average knowledge of financial real estate terms and principles. Complete understanding of approaches to value of real estate assets.
Ability to solve advanced problems and deal with a variety of options in complex situations. Requires expert level analytical and quantitative skills with proven experience in developing strategic solutions for a growing matrix-based multi-industry sales environment. Draws upon the analysis of others and makes recommendations of significance to the operation.
OTHER SKILLS and/or ABILITIES
Must be proficient in Argus, MS Word and MS Excel. Good writing skills.
SCOPE OF RESPONSIBILITY
Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines. Responsible for setting work unit and/or project deadlines. Errors in judgment may cause short-term impact to department.