Commercial Real Estate Review - Worth It?

[Virginiageneral]

Go with a flat fee approach. You won't get much at the 50% and 35% model, b/c there is inherent bias to reject the appraisal's value to get a higher fee. I'm not saying you would do that at all. Most commercial reviews are about $1,000 to $1,500 and higher for more complex reviews. Also, just consider your hourly rate. $1,000 may not be that much if it takes you all day + the dragging on of edits/review emails, etc... It can be a good service to offer, as you'll see a lot more variety.

 

[Michael P Jacobs MAI]

Go with a flat fee approach. You won't get much at the 50% and 35% model, b/c there is inherent bias to reject the appraisal's value to get a higher fee. I'm not saying you would do that at all. Most commercial reviews are about $1,000 to $1,500 and higher for more complex reviews. Also, just consider your hourly rate. $1,000 may not be that much if it takes you all day + the dragging on of edits/review emails, etc... It can be a good service to offer, as you'll see a lot more variety.

I don't think they're getting anywhere near $1,000 to $1,500 for simple property reviews here in SE Florida.

 

[PL1957]

I don't think they're getting anywhere near $1,000 to $1,500 for simple property reviews here in SE Florida.

Too many old, retired appraisers

 

[Michael P Jacobs MAI]

Too many old, retired appraisers

Oh, man, you got that right!