Spend less time in the office

Put more money in your pocket

Handle more work

Increase production levels

Deliver more accurate reports

Provide quicker turnaround times

Commercial Appraisal Productivity Seminar

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Brenda Dohring Hicks, MAI Brenda Dohring Hicks, MAI, is CEO of The Dohring Group, a downtown Tampa based, commercial real estate appraisal, brokerage, development and technology company, and is also CEO of The Dohring Group’s affiliate company RealWired!, a technology firm providing software solutions to the commercial real estate market since 1995. As one of the first women in the State of Florida to achieve the MAI designation from the Appraisal Institute, she has been active in appraisal, brokerage and development in the Tampa Bay area for more than 20 years. She served as Special Master Ad-Valorem Tax for the Valuation Adjustment Board of Hillsborough County for seven years and as the National Chair of Public Relations for the Appraisal Institute. She is a frequent speaker on real estate, business process and technology.

Jeff Hicks, MAI R. Jeffrey Hicks, MAI is President of The Dohring Group, a commercial real estate appraisal, brokerage, development and technology company headquartered in Tampa, Florida. Mr. Hicks has appraised and supervised appraisers on a wide variety of property types including office buildings, shopping centers, apartment complexes, hotels and industrial. Other valuation specialties include eminent domain, and environmentally sensitive lands. He has worked with various condemning authorities such as the Florida Department of Transportation, Hillsborough County, Pinellas County and the city of Tampa and has also represented property owners. Mr. Hicks is a certified general appraiser in the state of Florida with 23 years of experience. He holds a Bachelor of Science in Real Estate from Florida State University and is an Member of the Appraisal Institute.

WHO WE ARE

The Productivity Seminar will help you… Think more like a businessperson and not a technician Compensate for declining fees due to increased regulation Increase your entrepreneurial skills Improve the look and content of your reports Substantively increase your productivity Change the way you do day-to-day things Increase your hourly wage Increase the value of your business Challenge your organizational skills Think like you're the owner even if you're not

The Productivity Seminar will not… Help you appraise property Mention USPAP Discuss capitalization rates

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OBJECTIVE

SECRETS OF APPRAISING

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1. SPIOT- Sustainable Process Improvement Over Time 2. Get the number right 3. Have the best data, best presentation (no stupid

errors) and best analysis possible

DO A GUT CHECK

DETERMINE IF YOU, AS AN APPRAISER OR OWNER OF THE FIRM, HAVE AN OPEN ATTITUDE FOR

POSITIVE CHANGE.

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CONCEPTS

CONCEPT 1:

TRACKING PRODUCTION, VOLUME, HOURLY RATE AND GOAL SETTING

Metrics and tracking of # of appraisers, # of reports to hit goals, etc.

Production Charts and Metrics (beginning, intermediate, advanced)

Accounts Receivable Policies – 50% Retainer Mandatory – “One

Off’s”

Accountability Traps

One Page Business Plan

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TODAY’S APPRAISAL WORLD

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How has your appraisal practice been doing in the past year?

How is your workload?

What are your fees like?

How you been letting staff go, retaining, or bringing more people in?

Do you feel pessimistic or optimistic about the coming year?

If you were the president and could wave a magic wand on this

industry, what would you do to make things improve?

GOAL SETTING

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What was my appraisal production this week, this month and this year?

Which client provided the majority of work this year and what dollar amount?

What percentage of my reports last year were restricted use, summary and self-contained?

What is my profit margin with the three reporting styles? (Hint: the highest $/hour is not

self-contained)

What percentage of jobs turned into engaged assignments (or probably more interesting,

what percentage of jobs did you lose?)

Based on your direct competition, where is your pricing (hopefully it is at the high end of

the range)?

What percentage of jobs are delivered early or on time?

What percentage of jobs are delivered late?

What has been the trend of your appraisal volume and pricing - downward, upward or

static?

Before you pick up the next appraisal file, consider the following questions:

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Production Tracking

Reviewing the numbers in the following area helps build a better understanding of the impact of these ideas: Appraisal Group Production

Company Assessment

Hourly Wage Calculations

Average Fee Schedule

HAPPINESS PRIORITY LIST

Money

Time

Education

Auto Pilot

Implementation

Networking

Life/Work Balance

Give Back

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CONCEPTS

CONCEPT 2:

PAID VS NON-PAID TIME GOAL: Make as much money as possible in as few hours possible.

Paid vs Non-Paid Time

Daily Time Log

Web Based Tracking

Daily Log Chart

How to Avoid Unpaid Consulting

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Paid Activities

Inspections

Putting Sales in Comp Database

Research & Searching for Comp Data

Confirming Comp Data

Bidding on Jobs and Managing Workflow

Dictating and Writing Reports

Reviewing Reports

Business Development

Non-Paid Activities

Checking Email

Being your own IT Person

Learning new programs/software

Returning voicemails/messages

Delivering Reports

Office Meetings

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PAID VS. NON PAID ACTIVITIES

Weekly To-Do Log

Daily Time Log

Incremental Daily Time Log

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TIME MANAGEMENT

CONCEPTS

CONCEPT 3: PRIORITIZATION Goal: Do the things that are the most important first

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EASY PRIORITIZATION

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Call client about changes to report

Clean up and file Outlook Inbox

Prospect for new business

Set up this week’s inspections

Review Commission Schedule

Speak with accountant

Review report for Jesse

EASY PRIORITIZATION

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Call client about changes to report

Clean up and file Outlook Inbox

Prospect for new business

Set up this week’s inspections

Review Commission Schedule

Speak with accountant

Review report for Jesse

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2 3

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CONCEPTS

CONCEPT 4:

GOAL: Track the important stuff

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CRM (Live, Dashboard, Tasking)

Appraisal Ordering Data form

How do you track who does what and when it gets done?

Pricing Strategies

Appraisal Bidding Process

Automated Appraisal Management System

WHAT YOU DO

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MANAGER

Appraisal Office Buckets

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MANAGER

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MANAGER

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MANAGER

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MANAGER

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MANAGER

CONCEPTS CONCEPT 5: GOAL: Have reliable, repeatable processes

OFFICE SYSTEMS/PC MAINTENANCE

Back-up PC’s(Data)

Back-up fully functioning workstations

Exchange(E-mails)

Managed Services

3-4 Computers Screens

Dragon

Uniformity of equipment

Cell phone, Computers, Headsets

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CONCEPTS

CONCEPT 6: GOAL: Move through the report generating process smoothly

APPRAISAL PROCESS TIPS

Upfront discussions with appraiser. Go over issues, expectations

Inspection Tips (deferred maintenance, new valuation issues)

Communicate with clients during process, review if complex appraisal

Google subject and all comps

Communicate new market research, valuation issues with all appraisers

Outsource opportunities

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CONCEPTS CONCEPT 7:

GOAL: Run a practice like a business Introduce E-MYTH

Stop just working in the business and work on the business. It's an important distinction. Can you see it? It's right in front of you.

E-Myth Overview Chart

Dohring Companies Processes

Employment Position Statements

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STRATEGICALLY THINKING

Here are a few questions to ask yourself:

How many more years will I appraise?

Do I have an appraisal business successor?

Does my appraisal practice have any real value?

Do I have a business plan and do I update it?

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STRATEGIC PLAN TEMPLATE

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CONCEPTS

CONCEPT 8:

GOAL: DATA ORGANIZATION

Productive File Structures

Establishing new job process and tracking

Template and component parts

How much time does it take you to find and confirm sales/comps

Internet, CoStar, Loopnet, Commercial IQ, Corporation Look up

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WHAT WE HEAR

Appraisal Firm Owners

My appraisers slow down when they have less work on their desk.

My appraisers refuse to take the time to consistently update neighborhoods, market data and zoning descriptions.

My appraisers do not embrace technology and are unwilling to change how they produce reports.

Staff Appraisers

Office procedures and production goals are not written down and are half-hazard.

The owner and/or reviewer is inaccessible which makes gaining experience difficult.

The owner does not embrace technology and is unwilling to change how they produce reports.

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Appraisers around the country tell us….

DATACOMP Run search for Comps and print to an adjustment grid

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DATACOMP DataComp Improved Sales Summary Template in Excel before and after data is merged

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DATACOMP DataComp Sample Summary Table output in Word for 5 comparables

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DATACOMP DataComp Sample Word output with picture

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CONCEPTS

CONCEPT 9:

REPORT WRITING – Exploring & Implementing Appraisal Report Process and Automation Pitfalls: What are some objections to Report Writing Software?

EDGE

Cut and Paste

Templates

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EDGE EDGE set up showing how you create a project and select your Input Template (Excel) and Output Temple (Word). Once you have selected your Input Template and specific Output Template (Restricted, Summary or Self Contained) you then create a New Project.

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EDGE EDGE Input screen with Tabs at the bottom. Tab 1

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EDGE EDGE Input Screen Tab 2

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EDGE EDGE Drop Down Field Type

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EDGE EDGE Multi Text Field Type

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EDGE EDGE Link Field Type

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EDGE EDGE Output Screen in Word. Cover Letter with keywords before and after data is merged

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EDGE Summary Table before and after data is merged

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EDGE Intended Use/Client and Intended Users Page before and after data is merged

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FINAL THOUGHTS

Risk: A state of uncertainty where some of the possibilities

involve a loss, catastrophe or other undesirable outcome.

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Do not stop working on getting more business and networking when busy.

Continue to improve your internal systems.

Purchase and implement software solutions to increase appraisal production.

Define production goals, then track your appraisers' production.

Return phone calls and emails promptly.

Communicate with your clients quickly when appraisal issues arise.

SECRETS OF APPRAISING

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1. SPIOT- Sustainable Process Improvement Over Time 2. Get the number right 3. Have the best data, best presentation (no stupid

errors) and best analysis possible

For More Information Contact:

Brenda: brenda@realwired.com

Jeff: jeff@realwired.com

813-349-2700

www.RealWired.com

Commercial Appraisal Productivity Seminar