Commercial Real Estate Appraiser: An Indispensable Function in the Property Investment
When investing in or transacting real estate, the services of a commercial real estate appraiser are indispensable. Such professionals assess commercial properties and produce opinions as to their value for sale, investment, or even financing. This knowledge is of great value because it enables sellers, buyers, and lenders to make intelligent decisions with respect to commercial properties like office buildings, malls, industrial facilities, etc. Defining the Role of a Commercial Real Estate Appraiser The tasks assigned to a commercial real estate appraiser include property evaluation, and for that, they use multiple techniques such as the general market approach, income capitalization approach, and cost approach, among others. This includes the collection of relevant data, a site visit, a study of the property in the context of local and national markets, and scrutiny of the subject’s attributes, including location, type, and revenue yield. Appraisers understand local ma...