Appraising Appraisals

As 2014 come to a close, let me share some highlight of major career accomplishments in appraisal.

It was a great leap in my appraisal career. I served clients from different stratum of our society-property owners, lawyers, brokers, accountants, ambassador, company, cooperatives and foreign individuals. More and more assignments means more places visited. It was a year of valuable experiences.

After my stint with Intech Property Appraisal as its Managing Partner, series of assignments and appraisal orders came. My biggest clients were the CFI Multipurpose Cooperative and a subdivision developer. I appraised its properties ranging from vacant lot, residential, and commercial buildings and institutional. The most challenging assignment was a one-hectare residential lot. It was challenging because it has a variety of problems on its title, physical characteristics, occupants and expropriated portion. In addition to the most commonly used methods in appraisal (market data, cost and income approach) I have to use subdivision development method in appraising the said property to draw closer out with the most reliable and accurate value .

In these assignments, I learn a lot of lesson in practicing appraisal. My foundation as a researcher, as an economist and being a real estate broker helps a lot. In every appraisal assignment, I always bear in mind that I should come out with an unbiased and justifiable opinion of value.

The most challenging assignment was to be appointed by a regional trial court as member of the Commission that will study and report the fair market value of a property on trial. It is an assignment where an appraiser has to face the grilling of the judge, lawyers, assessors and other parties. It needs courage draws from experience and technical capability.

Appraisal assignments also mean travel to different places. I visited places and seen faces in different part of the country. Beautiful beaches of Camotes and Bohol, picturesque mountains in Negros and Agusan, scenic islands in Iloilo, native delicacy in Bayawan City- the baye-baye ( I keep looking for laki-laki), Marang in Cagayan de Oro, Binagol in Leyte and more.

It was a great year of raising the level of professional capabilities and experience.

Successful Real Estate Consultant Review

parcs cebu (2)Philippine Association of Realty Consultants and Specialist (PARCS) successfully completed its 120 Hour Comprehensive Seminar and Review for Consultants. The seminar was conducted in preparation for the upcoming Philippine Regulation Commission Real Estate Consultant Board Examination scheduled on December 3 -4, 2014.

The seminar and review gives the participants an in-depth knowledge on consultancy, due diligence, land administration, risk and rate of return, capital budgeting, market analysis and the conduct of feasibility study.

“It gave me a profound and broader view of my real estate profession”, said Gus Agosto, one of the participant. Currently, he is a practicing real estate appraiser in Cebu and other provinces in Visayas and Mindanao. “Being an economic researcher for a quite of time, the seminar refreshes my craft and add lot of knowledge plus the practical experiences shared by the participants who are seasoned real estate practitioners themselves..”

The seminar and review participants were determined to pass the board exam. The lecturer of the review include real estate icon Tom Academia, seasoned appraiser and consultant Oscar Labrador and Alexander Lumarda.