30 Years and Going Strong

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For the past 30 years, I (Mark Nelson) have worked in the appraisal field with Roy R. Fisher, a company that was founded in 1929. That’s a lot of appraisals and a lot of business partnerships. Memory is a funny thing; in many ways, it seems like I just got started yesterday. But of course, whenever I begin work with a new client, all of those years in the field come into play. They have given me the knowledge and experience we use to help our clients. It’s been a wonderful 30 years, and I’m still going strong.

It’s been fascinating watching the changing real estate landscape. For instance, office supply stores have become Salvation Army warehouses and donation centers. Former businesses like K-Mart have become U-Haul Rental businesses. Old multi-story warehouses have become loft apartments. So many businesses have moved or changed ownership.

Survival is certainly no guarantee in any industry, and there have been tough times in the commercial real estate appraisal business as well. The COVID-19 pandemic was a challenging time, but the economic downturn of 2008 also hit the real estate market particularly hard, and many businesses didn’t survive.

Thankfully, I’ve seen quite a bit of success in my 30 years. I have testified in several tax appeals, helping clients achieve fair and equitable assessments. My eminent domain appraisals have helped property owners and cities successfully reach agreements on acquisitions for needed right-of-way improvements. And achieving the MAI Designation was a rewarding experience for me. It means a lot that the Appraisal Institute recognized the quality of my work. In order to achieve MAI designation, I had to:

  • Have good moral character;
  • Be a Certified General Real Property Appraiser (or meet equivalency)
  • Hold bachelor’s degree or higher (or be a Certified General Real Property Appraiser)
  • Meet standards and ethics requirements;
  • Pass rigorous education requirements;
  • Pass a final comprehensive examination;
  • Receive credit for specialized experience that meets strict criteria; and
  • Receive credit for the demonstration of knowledge requirement.

One of the things that keeps Roy R. Fisher going is that we know we provide a valuable service. We serve Fortune 500 companies as well as small local businesses. Our expert appraisals help clients reduce tax burdens, provide litigation support, and avoid costly investment mistakes.

On a personal note, it’s been rewarding getting to know so many wonderful clients, forging friendships and working relationships that make us feel good about the work we do. I’ve seen businesses grow from small “Mom & Pop” shops into large enterprises. I’ve seen young clients become parents and grandparents and young entrepreneurs grow into pillars of the community. I’ve seen historic properties saved and restored, and I hope to see a lot more of that over the decades to come.

It’s been a wonderful 30 years, and I look forward to 30 more years.

Estate Planning for Commercial Real Estate

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Estate planning is never much fun, but it’s necessary to plan how to leave behind an inheritance for heirs and to reduce or even eliminate the tax burden on an estate. If you own commercial real estate, hiring an appraiser who specializes in this type of property is a crucial part of estate planning.

In this part of the country, we do a lot of estate planning appraisals for farms, but we can handle most any multi-family, industrial, office, or retail property. We work in both Illinois and Iowa, which have different laws and tax implications for estate planning. When estate planning isn’t handled properly, it often results in excessive legal fees, increased tax liabilities, and potential legal fights among heirs. Planning helps eliminate these sorts of problems before they occur.

Commercial real estate presents unique opportunities and challenges. One of the biggest considerations for estate planning is reducing tax liabilities, which is a huge concern, especially for owners of commercial properties. It’s important to enlist the help of experts like us, as planning can become complicated. A commercial real estate specialist can help plan for dividing property among heirs. We can also help appraise properties with multiple owners.

Roy R. Fisher is experienced in valuing real estate of all types of commercial properties, whether you own an arcade, a welding shop, or a restaurant. Our appraisals can help you make choices about changes needed now to make the estate transition run smoothly in the future.

Benefits of Going with a Real Estate Agent

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Commercial real estate is different from residential real estate and comes with a myriad of complexities that are easier to navigate with a dedicated professional by your side.

“A full-time commercial broker practitioner is in the market every day of every week,” says Rick Schaefer of Ruhl Commercial. “We are keenly aware of current market conditions, affecting supply and demand, pricing, market trends, lease language, purchase agreement language and what is fair and reasonable.”

architecture presentationA large part of the commercial real estate market includes leasing. It’s important to work with an agent who understands all the complexities of leasing, whether you’re a landlord, a buyer, or a seller. It’s also important to communicate what you need from your agent to get the most out of the business relationship. Be sure to tell the agent what you expect from them, and they’ll be better positioned to serve your needs and secure the right deal.

Marge Stratton of Mel Foster Commercial Real Estate Services says there are several key reasons why you should hire a commercial real estate professional. Despite concerns about costs with paying a commission, Stratton says that working with a dedicated professional will usually result in a better deal, negating any costs from commissions. And the experience of that dedicated professional is another key reason. “Relationships fostered over years of working in the business that can give them an edge to help you find the perfect location,” says Stratton.

“We have knowledge of zoning regulations, building code requirements and many other potential issues to help our client avoid costly mistakes,” says Schaefer. “We assist clients with identifying and evaluating all reasonable options to determine the best possible real estate solution.” This can include navigating due diligence items on a piece of property, recommending third party vendors, coordinating inspections, and even helping clients find financing and legal counsel to close a transaction. 

Stratton echoes this sentiment. “Working with lawyers, architects, contractors, designers, move managers, and property managers,” she says, means that, “your commercial real estate professional will ensure the space you end up in is exactly how you pictured it.“

An agent can and should present you with a market analysis with comparable properties. Depending on how you plan to use the property, an agent may be able to provide a marketing plan with details about how to find the right tenants in a rental situation, or a comparison with similar properties in another commercial situation. Where they can’t help, an agent can refer you to other professionals to share their areas of expertise. There are a lot of moving parts in commercial estate, and the agent is there to help at every stage.

In other words, you don’t hire a commercial real estate agent just to show you properties, or just to sell you properties. You hire a professional to help manage the entire process.