Capital Update
April 13, 2010
Upcoming Education

April 16, 2010 - Appraising High Value & Historic Homes, Rockville, MD
Click here for details.

May 24, 2010 - Supporting Capitalization Rates , Rockville, MD
Click here for details.

June 9 - Construction Costing Workshop

Fall TBD - Real Estate Market Update

September 23-24, 2010 Appraisal Curriculum Overview (Residential & General), Rockville, MD
Click here for details.

October 14-15, 2010 - Uniform Appraisal Standards for Federal Land Acquisition, Rockville, MD
Click here for details.

December 9, 2010 - 7 Hour USPAP, Rockville, MD
Click here for details.

December 10, 2010 - Business Practices & Ethics, Rockville, MD
Click here for details.

Welcome New Members

Heather Rika Stefanik
Steven S. Schantz

Want to Boost Your Income? Become a Designated Member!

A statistically significant higher proportion of designated members earn more than $100,000 per year compared to associate members and nonmember appraisers. Click here for a salary comparison.

 

Click here to see how you can move from "Associate" to "Designated."

Job Openings

Commercial appraisers … we always have work, top fees, health, 401K ... from the simple to complex, we need you. Please send resume to vze23t4h@verizon.net. All inquiries are kept confidential.

 

 

 

In This Issue

Looking for Ways to Grow Your Business? Take Your Networking Up a Notch!
Appraising High Value & Historic Homes - April 16 - A Few Seats Remaining!
Education Opportunities Coming Soon
New Members
Want to Boost Your Income? Become a Designated Member!
Job Openings

Looking for Ways to Grow Your Business?

While advertising and PR may drive some customers to your door, networking is almost always the most effective way to attract business when it comes to professions like appraising. "No (wo)man is an island"...and that goes double for folks in the appraisal business.

 

Joe Girard’s Law of 250 - Considered “The World’s Greatest Salesman” by the Guinness Book of World Records, Girard's Law of 250 reflects Girard’s belief that everyone knows 250 people in his or her life who is important enough to invite to a wedding or who will show up at their funeral. If you know 250 people, they each know 250 people. That’s 62,500 second-line contacts – 15 million third-line contacts. get the idea?

 

It's not what you know, it's WHO you know!

  1. Become more than a name on a list - get out and rub shoulders with lenders, lawyers, realtors and accountants who may (or know someone who does) need your services. Customers will invariably first call the person they've actually met before dialing anyone else's number.
  2. Get together with your fellow appraisers. You can get and give referrals. And the latter will get you a lot more of the former! Check out the list of classroom courses offered by AIDC (and surrounding chapters!).
  3. Sharpen your skills & knowledge. Networking builds more than pool of business (and personal) relationships. You will undoubtedly be one of the first to hear breaking news and learn about leading edge tools and techniques from fellow users. You'll also have a ready list of peers with whom you can consult when confronted with those "really weird" appraisals.

    While online courses may be "convenient", classroom courses are a great place to meet and greet other appraisers in your area. You may save a little time by sitting in front of your computer, but I can guarantee, you'll make more money sitting with your peers.

Taking Your Networking Up a Notch...and More!

You can expand your professional relationships by getting involved with AI. Click here to see the opportunities.

But if you really want to make your networking work for you, take it to the next level by getting involved with your customers' associations. AIDC member, Dennis Duffy, MAI, serves on the curriculum committee and as a presenter for the International Council of Shopping Center's newest certificate program, Debt Workout, Transactions & Repositioning of Distressed Assets. Click here to see a program brochure. In doing so, Dennis has positioned himself as a highly credible content expert before a very large group of prospective customers. You can bet that when the ICSC members who attend this program are looking for an appraiser, one of the first they'll call will be Dennis Duffy.

How do I begin? Start with the local chapters - realtors, accountants, etc. - you don't have to be a member to attend their meetings (but it usually helps in the long run). See who's in the room and decide if they represent your target customers. Get to know the leadership and offer to help. You're much more likely to get a hand if you give a hand first.

Most of all, be friendly and be patient. It's no different than investing in the stock market or real estate. If you're looking for an immediate return, you're sure to be disappointed. If you hang in for the long term, you're sure to be well rewarded.

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Appraising High Value & Historic Homes

Friday, April 16, 2010
The Universities of Shady Grove
9630 Gudelsky Drive * Rockville, MD 20850

Like many other situations encountered in residential appraising, the valuation of high-value and historic homes can be difficult. The properties involved can be odd, unusual, and even unique. Appraisers might wonder where to begin and question their competence or expertise, and refer the work to another appraiser.

Does historic value exist? Appraising high-value residences presents unusual challenges. During this seminar, you will learn techniques to define and analyze market area, determine highest and best use, and apply the sales comparison approach when valuing an estate or mansion. In addition to these challenges, appraisers are sometimes asked to consider a property’s “historic value” as part of an appraisal assignment.

This seminar will expand your understanding of these unusual residential property types. As experts, appraisers are already familiar with the basic concepts of real estate appraisal and methods of valuation. This seminar is designed to apply those basics to more unusual situations encountered in appraisal practices.

Registration Fees:
Members: $175 until April 9; $185 thereafter
Non-Members: $195 until April 9; $205 thereafter

Seating is Limited - Click here to register today and Save!

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Supporting Capitalization Rates Coming in May

You use capitalization rates in nearly every commercial appraisal, yet do you still wrestle with developing a cap rate and then encounter criticism? If you need to improve your ability to select and defend cap rates, this seminar is for you.

Departing from an emphasis on theory and mathematics, Supporting Capitalization Rates focuses on practical ways to incorporate judgment and market experience into the rate selection process. You’ll learn to apply what you have learned about capitalization rates to real-world situations. In fact, the theme of this seminar is that a well-supported capitalization rate takes into account market activity, is tested for reasonableness, and demonstrates the appraiser’s consideration of the relevant factors that affect the property.

Working with case studies, you will develop well-supported, market-extracted capitalization rates reflecting specific economic and property characteristics. You’ll learn to identify the strengths, weaknesses, and data requirements of various methods to help you select the most appropriate method for any given appraisal problem.

Click here for details and registration.

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