Commercial Vs Res, Who Appraises More $ Per Year?

[Ken B]

Last month, my team had two appraisals on property with "as is" values in excess of $250,000,000. And then there was one $30,000 "as is" value. There's a pretty big difference between a 470,000 SF Class A high rise CBD office building and a 1,000 SF retail condo unit in a bad part of town and land in a retail district with the highest sales per SF in the country.

We do it all baby.

The median "as is" appraised value for my team last month was almost $8,000,000. The average of $22.1MM is meaningless because of a few high dollar properties.

 

[JTip]

Two years ago I did a shopping mall with a value of $20,000,000. It would take 125 single-family residences to equal that one property.

Who would make more? $20M mall appraisal or 125 SFR?

Surely you didn't make $50k on that job....and I'm not calling you Shirley....

 

[J Grant]

I don't think he meant fees, he meant dollar value of the properties...125 SFR at X$ value each to equal the value of the 20 mil shopping center

The subject is $ amount of properties people appraise, not the fees they charge.

If an appraiser whether commercial or res has a wide spread of $ values they work with it can throw numbers off. Basically I was trying to see if an avg res appraiser, since they usually do many more orders, ends up appraising the same or more $ annually than an average commercial appraiser (avg st gen that does not specialize in only mega $ projects)

But maybe there is no such thing as an "average appraiser"...

Of course geo areas with low $ value properties can't equate.. Its just one measure of the profession though, to realize how many tens of millions of $ to hundreds of millions in properties annually we are responsible for. To give perspective of those who tend to underestimate themselves or appraisers in general...

 

[ucbruin]

Why would it matter the total value of property appraised. Frankly, it doesn't correlate necessarily all that well with what I charge.

And I am doing other work as well, so I am well under 100 appraisals each of the past 3 years.

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[Terrel L. Shields]

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We ain't talking FEES. Rather total value of properties appraised.

I think doing 60 comm. appraisals for $2000, beats doing 300 for $400, even if less work (not to argue it is), but because you have 240 less customers to please, less liability.

 

[ucbruin]

We ain't talking FEES. Rather total value of properties appraised.

I think doing 60 comm. appraisals for $2000, beats doing 300 for $400, even if less work (not to argue it is), but because you have 240 less customers to please, less liability.

I was talking liar's poker which would include fees and/or yearly income.....

 

[J Grant]

I under estimated likely by more than I thought the amount I actually appraise...I looked at my book for this week and total amount of property $ was $2,3875,000....6 orders, low of $120,000 retirement condo to a high of $900,000 range luxury waterfront unit...oddly enough the 120k unit is the more difficult to appraise...I often find the small ones can be deceptively tough...

 

[J Grant]

I was talking liar's poker which would include fees and/or yearly income.....

As the originator of this thread, I really want to keep it away from fees/yearly income...(for the most part, I realize it may intertwine at times)

 

[ucbruin]

Sorry, I misread the last paragraph of the original post.....

 

[Michigan CG]

Surely you didn't make $50k on that job....and I'm not calling you Shirley....

Of course not.

Next week I will be doing a 15,000 SF office building and the fee is $3,000. In total it will take me 40 hours to write. An average fee of say $450 for residential for five houses would be $2,250 for 35 hours worked. I will take the one report and one client to please over the five reports and five residential clients to please any day not to mention the better income.