Definition
Commercial Real Estate Appraisal Outsourcing – LOGAN works with select appraisers in the United States to support their appraisal efforts. This is done on a case-by-case basis, as LOGAN prioritizes the relationship with the appraisal firm and customization of the firm’s needs. LOGAN specializes in more complex property types in order to maximize the cost savings of the client and optimize the processes of rent roll input and Argus Enterprise file generation and review. This service is not a mass-appraisal service, but is rather a customized and confidential solution for select appraisal companies in the United States.
Types
Argus Enterprise Outsourcing – Rent Roll
- Shopping Center Rent Rolls
- Hotel and Resort Appraisals
- Self-Storage Appraisals
- Office appraisals
Appraisal Report Writing
- English appraisals, written with proprietary software, or client template
- Front-end report writing
- Property comparables
- USPAP and IVS compliance
Approaches
- Cost
- Sales comp or market
- Income capitalization
- DCF
Markets Covered
United States
- Arizona
- Texas
- Florida
- California
Important Capabilities
- English
- Contracts – abstracts, or entire contracts can be reviewed
- Argus Enterprise knowledge and capabilities
Recent Trends
- Increasing labor costs
- Inflation and wage growth
- Pandemic and its impact on retail traffic and formats – especially regional malls
- Proportional increase in space in retail centers used as entertainment
Deliverable
Narrative Appraisal Report
- Value impacting considerations
- Purpose, scope, limitations of the report
- Land description, analysis
- Improvement description, analysis
- Scope of work
- Highest and best use
- Approaches to value (Methods)
- Reconciliation
- Certification statement
Benefits
- Lower costs – the cost to outsource appraisals or a portion of appraisals is lower than that of the United States.
- Customized solutions for clients – the amount of work undertaken, or the template used are all part of customized solutions for clients
- Consistent deliveries – timelines and schedules are developed and adhered to
- Time savings – more complex and time-consuming tasks can me delegated or outsourced which may save senior appraiser time and effort
- Consistent work product – quality control systems are in-place and can
