4 / 10
2
CLIENT
SATISFACTION
SURVEY
“There was no explanation for howmarket rent was determined.
There was a $ amount math error in the pro-forma expense additions.
Excellent sense of urgency, but did not include explanations for
market rent determination or details on the individual expense
categories in the report so the conclusions was not very convincing.
The Sales Comparison was fine, but the Income Approach does not
show the appraiser’s reasoning for the selection of market rents. Also
does not describe how the various expenses were determined.”
“In my opinion, use of the NOI multiplier should not be included
in the Sales Comparison Approach and is nothing more than the
reciprocal of the cap rate. Adjust your units of comparison derived in
the SCA the best you can and don’t default to a NOI multiplier as a unit
of comparison.”
edited by Sid Womack, MAI, AI-GRS, FRICS
Notable client comments: