Commercial Appraisal Productivity Seminar  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 WHO WE ARE 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. 2 OBJECTIVE 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 3 SECRETS OF APPRAISING 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 4 DO A GUT CHECK DETERMINE IF YOU, AS AN APPRAISER OR OWNER OF THE FIRM, HAVE AN OPEN ATTITUDE FOR POSITIVE CHANGE. 5 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 6 TODAY’S APPRAISAL WORLD  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? 7 GOAL SETTING Before you pick up the next appraisal file, consider the following questions:  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? 8 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 9 HAPPINESS PRIORITY LIST  Money  Time  Education  Auto Pilot  Implementation  Networking  Life/Work Balance  Give Back 10