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Grubb & Ellis (Landaur)

Discussion in 'Commercial/Industrial Appraisals' started by Baron Von Squidlo, Dec 4, 2011.

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  1. Baron Von Squidlo

    Baron Von Squidlo Member

    29
    Mar 5, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Given the poor state of affairs on the residential side, I have been giving strong consideration to moving on to the commercial side. I have an opportunity to interview at Grubb Ellis' Landaur division for a commercial trainee position in a reciprocal state. I was curious if anyone has experience working for Grubb? It is a big move for me because the salary will likely be in the $45K area (a temporary pay cut) and I have to move a family of five to another state in the Pacific NW. Of course, there are the typical medical benefits and paid education.

    Moderator, if this is in the wrong section I apologize. I was not sure where to post.
     
  2. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    447
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    If you are leaving California...it's probably a good move
     
  3. J Grant

    J Grant Elite Member

    319
    Dec 9, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I don't know anything about the firm except that they are well established. 45k is a respectable salary for training. If it includes med and educational benes, add that to salary for total compensation. Will cost of living be lower in new state? That could make up part of the gap. Sounds like a good opportunity with some short term minor $ loss for a much larger future $ gain.
     
  4. PL1957

    PL1957 Senior Member

    25
    Jul 19, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Illinois
    Grubb & Ellis's stock closed at $0.22 per share on Friday. They had a 52-week high of $1.46 and low of $0.20. The company has been actively marketing itself for sale for the last year or so. Brokers are defecting all across the country. Colony Capital and C-III have provided about $18-$20 million in working capital while having an exclusive negotiating window with G&E. If Colony and C-III don't acquire G&E, it is unknown what the future of the company will be.

    Landauer was a very respected name in the appraisal industry through the late 1990's before the company got mothballed. G&E decided to resurrect the name a couple of years ago in an effort to develop a "national" appraisal firm. The appraisal arm is supposedly a separate corporate entity, with separate finances and leadership. They have staffed up quickly through recruitment and selective acquisition of local firms. They've made a lot of promises to a lot of people, and the checks should be coming due pretty soon. Guaranteed bonuses eventually have to be paid.

    They are known for "buying" assignments through ridiculously low fees.

    That being said, they do have some excellent people working for them. It could potentially be a great way to make the transition from residential to commercial.
     
    Last edited: Dec 4, 2011
  5. JSmith43

    JSmith43 Elite Member

    19
    May 5, 2003
    Professional Status:
    Certified General Appraiser
    State:
    California
    Still, he would be leaving CA:shrug:
     
  6. Baron Von Squidlo

    Baron Von Squidlo Member

    29
    Mar 5, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Thanks for the feedback. Looks like they are a bit of a risk based upon PL's comments. Still, it's probably a bigger risk to remain a residential appraiser in California.
     
  7. George Hatch

    George Hatch Elite Member

    198
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
    There aren't that many opportunities for this kind of transition out there. If you really want it......
     
  8. Baron Von Squidlo

    Baron Von Squidlo Member

    29
    Mar 5, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I would think there should or would be more opportunities like this given the aging population of CG appraisers. Heck, I just turned 44 and I am usually one of the younger people in the AI classes I take from time to time.
     
  9. George Hatch

    George Hatch Elite Member

    198
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
    The number of CG appraisers in California is now less than 2% higher than it's all-time low point from 2003. I haven't heard of anyone thinking about taking on trainees, though.
     
  10. Baron Von Squidlo

    Baron Von Squidlo Member

    29
    Mar 5, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Interestingly, I was just perusing the AI job board and noticed a handful of commercial appraiser jobs available that were posted over the past week. There were at least six. Some were major players like JP Chase, Grubb Ellis, and Cushman. Maybe new blood is needed now.
     
    Last edited: Dec 5, 2011
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