Senior Commercial Appraiser

Job Type Full-time Description

POSITION: Senior Valuer

LOCATION: Flexible within Illinois/Ohio/Michigan

POSITION SUMMARY

Prepares commercial real estate valuations on simple real estate assets with minimal supervision and oversight, training, and mentoring by supervisory Appraiser or Manager. Prepares commercial real estate appraisal reports, including entering data in the property database, taking photos of the subject and comparables and inspecting the neighborhood. Confirms data, conducts discussions with market participants, and performs additional research as necessary.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Independently prepares written commercial real estate appraisal reports from cover to cover
• Items included in the production of an appraisal report include:

o Identifies appropriate scope of work based on client request, problem to be solved, and scope of the project, such as; mortgage financing, insurance replacement cost calculation, estate valuation, tax appeals, equitable distribution, investment, or sale; identifying property characteristics.

o Determines valuation method by selecting approach and techniques for valuing property, i.e., cost, direct sales comparison, and income approach; identifying property characteristics and attributes.

o 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.

o Prepares valuation 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.

o Utilizes Argus (cash flow software) and 3rd party databases to compile data for valuation report.

• 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 contributing to the internal comparable database, mentoring trainees, and appropriately servicing clients
• Maintains AEI Valuation’s reputation by conforming to the Uniform Standards of Professional Appraisal Practice (USPAP); keeping information confidential
• Other duties may be assigned

QUALIFICATIONS

• Minimum of (4) years of previous commercial appraisal experience required
• Excellent written and verbal communication skills
• Strong organizational and analytical skills
• Ability to provide efficient, timely, reliable and courteous service to customers
• Ability to effectively present information
• Requires advanced knowledge of financial real estate terms and principles
• Complete understanding of approaches to value of real estate assets
• Ability to comprehend, analyze, and interpret complex documents
• Ability to solve problems involving several options in situation
• Requires advanced analytical and quantitative skills
• Must be proficient in Argus, MS Word and MS Excel

EDUCATION

· Bachelor’s Degree in Real Estate or related field required

LICENSES / CERTIFICATIONS

· State Certified General License (Appraisal) required

· Designated Member of the Appraisal Institute (MAI)

PHYSICAL REQUIREMENTS

The work environment may be both indoors and outdoors. Indoor work takes place in a typical office setting. The noise level in the work environment is usually moderate. Outdoor work requires the ability to effectively perform work in all types of weather conditions. While performing the duties of this job, the employee is regularly required to sit, type, handle office and/or field equipment, speak and hear. The employee may occasionally be required to stand, walk, balance, kneel or crouch and travel independently.