I have learned quite a bit about the appraisal profession in my graduate real estate class. There is a real difference on the level of detail between residential and commercial appraisers. Both use art, science and opinions to value property but the commercial is much more of a science.
The commercial appraisers have a magnitude of mathematical equations to use and analyze. It appears that what drives it is the large amounts of investment and equity and are used often by potential investors.
I would hope, soon, that the appraisal industry recognizes high performance and low impact developments with a higher value. Mainly because those structures are requiring less demand on infrastructure and giving an added value to its occupants and investors/owners.
The appraisal profession is much more interesting than I had given it credit.
Not enough to be one. :)
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