International Appraisals

[Financially Feasible]

I just finished taking General Income Cap A and I had two instructors, both of whom are MAIs. Of course, at the beginning of the class, both gave us a synopsis of types of appraisals that they had performed and one of our instructors told us how he has appraised properties in Ireland, China, etc. Now, has anyone else on the Forum had experience with international appraising? What are the powers of USPAP abroad - or is there some sort of "International USPAP"? Do different countries have licenses that have to be obtained before you can appraise a property? Even with partnering with a local appraiser, how can you really be "geographically competant" to appraiser anything overseas? I took another class where one of my classmates told me that her mentor (also an MAI) appraised a nuclear power plant where one comp was in Switzerland, one with in China, and I forget where the third one was. Where in God's name do you get comps like that? I know that CoStar is a pretty comprehensive program - but do they include international properties? Is there an "International MLS"? Sorry, but this just really intrigued me and I would love to hear some "war stories" from people who have done work overseas (or even some really BIZARRE properties in the US).

 

[Nicholas Runo]

Huh? Good question, l would love to appraise in Malaysia or the UK. Appraisers are getting paid 450 pounds per a SFR:icon_mrgreen:

 

[Joyce Potts]

USPAP is US only--and to my knowledge has not yet been adopted in any way shape or form outside the U.S.

Surely you asked this question to your instructors? Cause I'd like to know myself.

 

[The Warrior Monk]

There are courses and articles dedicated to international valuation. I have never looked into any of it, mainly because I don't have the time and it doesn't concern my practice at this point.

There are appraisal firms that appraise internationally. One of the guys I talk to at the AI meetings works for HVS; I'll quiz him on the matter during next month's meeting.

 

[Financially Feasible]

Surely you asked this question to your instructors? Cause I'd like to know myself.

I would love to say that I had the chance to ask my instructors anything other than what we were learning... but I didn't.

 

[Joyce Potts]

I would love to say that I had the chance to ask my instructors anything other than what we were learning... but I didn't.

I may just be moving to County Cork.

 

[Mark A Rewbury]

USPAP was designed and adopted by the US and Canada. Canada later adopted CUSPAP which is a Canadian version of USPAP. It is a simplified and easier to read than USPAP. When I took CE classes in Toronto I met some really interesting appraisers that as you describe did appraisal work internationally. One appraiser I met only appraised winery's. He appraised in Napa, Southern Ontario, British Columbia, anywhere there are winery's. Thats all he did and he has every winery comp available, Good gig. There were appraisers there that only appraised vacation resorts world wide. Since they are highly specialized in a certain product they had all the data from all over the world. Most were designated as AACI and MAI. So I would think that most international appraisers only appraise certain types of properties. I would think that getting into that business would be long and hard. I'm sure they work for large international appraisal firms that have offices in different countries.

 

[Ariba]

I just finished taking General Income Cap A and I had two instructors, both of whom are MAIs. Of course, at the beginning of the class, both gave us a synopsis of types of appraisals that they had performed and one of our instructors told us how he has appraised properties in Ireland, China, etc. Now, has anyone else on the Forum had experience with international appraising? What are the powers of USPAP abroad - or is there some sort of "International USPAP"? Do different countries have licenses that have to be obtained before you can appraise a property? Even with partnering with a local appraiser, how can you really be "geographically competant" to appraiser anything overseas? I took another class where one of my classmates told me that her mentor (also an MAI) appraised a nuclear power plant where one comp was in Switzerland, one with in China, and I forget where the third one was. Where in God's name do you get comps like that? I know that CoStar is a pretty comprehensive program - but do they include international properties? Is there an "International MLS"? Sorry, but this just really intrigued me and I would love to hear some "war stories" from people who have done work overseas (or even some really BIZARRE properties in the US).

Start at http://www.rics.org/

The Northern Colorado Association of Real Estate Appraisers had Steve Williams, FRICS, MAI make a presentation on International Valuation Perspectives. Steve Williams was RICS President from 2005-2006.
http://www.rics.org/AboutRICS/RICSs...ICSseniorofficers/past_president_williams.htm

Mr Williams moderated the first panel discussion of international appraisal qualifications in Las Vegas in 2000 and has twice chaired the RICS’ annual London Valuation Conference (2003 and 2004).

Mr Williams co-led the RICS delegation to 2003’s historic Toronto Valuation Accord (TVA) bringing together for the first time, the UK and American valuation professions to advocate global harmonization of standards in accord with the RICS Red Book.

Mr Williams also sits on the North American Conference of Appraisal Organizations (NACAO) and the World Association of Valuation Organizations (WAVO).

Bottom line is that there are many great opportunities for international appraisals.

Also, many countries use USPAP as their guide/bases for real estate appraising.

 

[CCAAMO]

Isn't California now considered a different country? I know San Francisco is in a different Universe.

 

[Vegan702]

I was once told that USPAP would be used by all countries, that is why they started using the word valuation/valuator instead of appraisal/appraiser as those words do not exist except in the English language.