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Consulting services are often performed by an appraiser. Consulting work differs from an appraisal because the ultimate outcome is not a value conclusion. Assignments include land utilization, supply and demand and economic feasibility studies. The studies may be used to establish the highest and best use of a property, investigate different scenarios for redeveloping a site, create an optimum layout of a subdivision, or develop market indicators, such as report general rent levels. Investors may use this service to help them study a variety of investment options. There is no limitation to the type of consulting we can offer and perform for our clients.
In a consulting assignment, current market activity and evidence are studied to form a conclusion, which may not focus on a specific value indication. This service is often used by public agencies when studying right of way options, alternative impacts to properties, and government-required project environmental assessments for transportation improvements.
Unlike appraisals that must be fee-based, consulting work may be on a time and material basis. In consulting work, the interaction between the client and the appraiser is more important and is often ongoing throughout the entire project, likely much more so than during the completion on an appraisal, which requires more independence by the appraiser.
Examples of Consulting Work
Market Rent Study
Market Demand Analysis
Assessment and Property Tax Consulting
Absorption Studies and Sensitivity Analysis
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