The Cost Approach’s Missing Piece

Let’s be honest with each other. Most of us skip the cost approach whenever the scope of work lets us. We don’t skip it because it lacks merit. We skip it because it takes hours, and because the one piece that makes it credible for anything short of a...

Paid for the License, Not the Analysis

Let’s be honest about what clients pay appraisers for today. It is not our analysis. It is our license and our willingness to carry the liability. As those two barriers erode, our fees will keep falling, and no amount of tradition will stop it. In my last...

Their Moat or Ours: Why We Have to Move Before AI Does

Every major technology shift becomes a race to build moats. Whoever digs first, and deepest, decides who gets to cross. Right now, two moats are being dug around commercial real estate valuation. One is ours: a deterministic, appraiser-controlled operating system,...