Creating a Strong Commercial Appraiser LinkedIn Profile

Watch our two-part series on big box appraisal.
commercial appraiser linkedin profile
Jeff Weiner

Jeff Weiner

CEO & Co-Founder | Transforming Commercial Real Estate Valuation | B2B SaaS Product Innovator | Creating Amazing Software from Zero to Scale | Longevity Enthusiast

Related Resources

FREE LIVE WEBINAR SERIES | Big Box Appraisal: Fee Simple Concepts & Tax Assessment

Duration: Each webinar is 1 hour

 

Watch Now

Series Overview

Big box appraisal valuation has been a huge topic in the appraisal industry. Valuations for tax purposes are based on a fee-simple value. However, there has been confusion on what exactly fee-simple entails. As a result, it led to a debate about how to value big box appraisal retail properties. There are several factors at play. Primarily, they stem from a lack of data for newer big box retail properties. To help bring clarity to this issue, we have lined up industry experts. These experts will share their viewpoints on how to value big box retail.

Realquantum doesn’t take a position on this issue. But like everyone, we want to understand it better. So, we created a 2-webinar series to provide useful information to all stakeholders.

Part One: Challenging Fee Simple and Retail Tax Assessments in Big Box Appraisal

Guest: Mark Hutcheson, attorney and managing partner, Popp Hutcheson, PLLC.

Wednesday November 6, 2019, 10am – 11am Central Time

Summary

Property tax attorney, Mark Hutcheson, has written and spoken about issues in commercial property tax assessments for years. He is the managing partner of Austin-based Popp Hutcheson PLLC and will join the realquantum team for a live discussion. Mark will give an overview of the key issues he encounters. In addition, he will share suggestions for commercial property owners on getting an appropriate tax assessment. (NOTE: this is not legal advice!)

Attendees will learn:

  1. An overview of the issue from the perspective of a property tax attorney.
  2. The changing landscape of brick-and-mortar retail in an era of exploding ecommerce. Also, the shift in consumer spending from goods to experiences.
  3. Determining an appropriate Cap Rate for a property. First, base it on a typical commercial property buyer. Don’t assume an extremely well-capitalized investor.
  4. The dreaded ‘dark store’. What’s the right assessment? Compare the cap rate of a Wal-Mart versus a lesser-known brand. What about a vacant property?
  5. Determining if intangible assets are in the property tax assessment when using the income approach.

About Mark Hutcheson

Mark Hutcheson, CMI, CRE, leads the Case Resolution Team of Popp Hutcheson, PLLC. He serves on IPT’s Board of Governors and chair of IPT’s CMI Designation Committee for Property Tax. Prior to joining the firm, Mark’s practice was mostly devoted to complex civil litigation. The remainder of his practice involved lobbying activities before the Texas Legislature. Earlier, Mark served as a legislative assistant in the Texas House of Representatives. In addition, he served as a congressional aid in the United States Congress. Mark has a B.A. from the University of Texas and JD from Baylor Law School. He is a member of the Travis County Bar Association and the State Bar of Texas.

BOOK A DEMO TODAY

Part Two: Setting the Record Straight on Fee Simple in Big Box Appraisal

Guests: Peter Korpacz, MAI, CRE, FRICS and Greg McHenry, AAS

Friday, November 22, 2019, 11am – Noon Central Time

Summary

Join Peter Korpacz, MAI, CRE, FRICS and Greg McHenry, AAS, for a lively discussion about the definition of “highest and best use” and “fee simple estate.”  Peter is a consultant appraiser who travels the country working on high-profile retail tax appeal and litigation cases for big box, shopping malls and more. He speaks and writes extensively on the subject.

Attendees will learn:

  1. Fundamental #1: What is “fee simple absolute”?
  2. Fundamental #2: What is “highest and best use?”
  3. Valuing a property for tax purposes as if it is vacant vs. occupied
  4. How to handle encumbrances on the property.
  5. Finally, sorting through the noise when assessing big box appraisals, single-tenant retail built for use by the owner-operator.

About Peter Korpacz

Peter F. Korpacz is the founder of Korpacz Realty Advisors, Inc., specializing in litigation-support, including expert witness testimony. He has extensive experience in the real estate appraisal, counseling, publication, and research fields. Peter is experienced in assessment work for cap rate studies and valuations of regional malls. Furthermore, he’s consulted on corporate headquarters, methodology studies for distressed markets and chain drug store properties. Peter speaks and publishes frequently, and, is the founder and original publisher of the quarterly Korpacz Real Estate Investor Survey®, now the PwC Real Estate Investor Survey. In addition, he was a principal researcher and advisor for the annual Emerging Trends in Real Estate®. (2001 U.S. issue through the 2008 U.S. issue). Peter is the author of numerous articles, contributor to numerous real estate books and is a former editor-in-chief of The Appraisal Journal.

About Greg McHenry

Greg McHenry, AAS, is county appraiser of Riley, County, Kansas and is a Kansas registered mass appraiser (RMA). He has held numerous leadership positions in the Kansas County Appraisers Association, the Kansas City chapter of the IAAO and Vice-Chair of the Flint Hills Regional Leadership Program. Greg speaks frequently on a variety of topics for the IAAO (International Association of Assessing Officers) and serves as its vice president. In 2020, he will be the president-elect. Greg holds a Bachelor of Science in agricultural economics from Kansas State University.

FEATURES

Schedule a Demo Today

See these features in action with a free live demo.