Mobility - May 2019 - 80

APPRAISAL REPORT WRITING CONTEST
The Mobility editors note and recognize that Paul Lewis was
the 2018 recipient of a joint Worldwide ERC® and Relocation
Appraisers and Consultants Inc. (RAC) Summary Appraisal
Report Writing Contest Award.
Submissions to the annual contest are redacted, so that the
judges, who are report reviewers from relocation management companies, do not know the identity or location of the
entrants and private or identifying information about subject
properties is respected.
Each section of the reports is evaluated by judges for:
Completeness: Whether all necessary information
was included, and whether exhibits were useful
and comprehensive.
Clarity of communication: Descriptions required to render
a good understanding of the elements being defined were
well-written, organized, and easily understood.
Thoroughness: Whether the appraiser researched all of the
important market factors that impact the analysis.
Internal consistency: Ensuring that all the facts presented
in the report led to the conclusions and recommendations
expressed by the appraiser.
Complexity of the assignment: Determining whether the
report identified and communicated unique marketing challenges and offered adequate justification for adjustments for
unique or unusual challenges.
Appraisers interested in competing in the 2019
Appraisal Report Writing Contest should look for details
and submission deadlines, coming later this summer on
worldwideerc.org and rac.net.

80 Mobility | May 2019

The maximum marketing period set by the client,
vis-à-vis current market conditions, is an important part of the forecasting process, as it can play a
significant role in whether the adjustment will be
positive, negative, or zero. In a stable or strong market,
a forecasting adjustment of zero is most common. In
more challenging conditions, such as those caused
by seasonal or significant economic factors, if the
expected market exposure is anticipated to be longer
than the maximum marketing period defined by the
client, a negative forecasting adjustment is warranted.
Similarly, in markets that are rapidly heating up and
in which we see low inventory and high demand, a
positive forecasting adjustment may be necessary.
From my own experience, positive adjustments are
rare-I have applied a positive forecasting adjustment
only once over the course of conducting hundreds
of relocation appraisals. Unusual market conditions
or external developments, such as large companies
announcing the opening of a new facility in the region,
for example, and the corresponding assumption of an
influx of homebuying employees with it, can prompt
an upward forecast.
The forecasting component is often the most
challenging and least understood variable of a
relocation appraiser's work, as there is no mathematical formula that will result in two appraisers
arriving at the exact same adjustment. The accuracy of the conclusion is also not verifiable by
current market data, just the test of time.
In essence, a relocation appraisal is significantly
more detailed, nuanced, and time-consuming than
many other appraisals, but it provides appraisers
with an opportunity to showcase unique levels of
market knowledge, professional analysis, communication skills, and customer service to the many
different parties involved in the process. M
Paul M. Lewis is an appraiser with Paul Lewis &
Associates. He can be reached at +1 952 472 4121 or
paullewisappraiser@gmail.com.
Keep the conversations going on this and
other topics by participating in our online
Community. Sign in at worldwideerc.org/
community with your Worldwide ERC®
username and password.


http://www.worldwideerc.org/community http://www.worldwideerc.org/community http://www.worldwideerc.org http://www.rac.net

Mobility - May 2019

Table of Contents for the Digital Edition of Mobility - May 2019

Contents
Calendar of Events
Perceptions
Tips & Trends
Around the Worldwide Erc
Government Affairs
Market Summary
Pathways: How I Fell Into Mobility
Member Picks
The Numbers
Mobility Trends Too Costly to Ignore
Is There a Brain Drain in Mobility?
The Gift of Service
Mobility Matters
The Past, Present, and Future of Household Goods Moving
Making the Home Lending Process Simpler
What a Relocation Appraisal Is
Destination Profile: Mexico City
Marketplace: Disruption & Change in the Moving and Storage Industry
Advertisers’ Index
Industry Insights
Mobility - May 2019 - bb1
Mobility - May 2019 - bb2
Mobility - May 2019 - Cover1
Mobility - May 2019 - Cover2
Mobility - May 2019 - 1
Mobility - May 2019 - 2
Mobility - May 2019 - 3
Mobility - May 2019 - 4
Mobility - May 2019 - Contents
Mobility - May 2019 - Calendar of Events
Mobility - May 2019 - 7
Mobility - May 2019 - Perceptions
Mobility - May 2019 - 9
Mobility - May 2019 - Tips & Trends
Mobility - May 2019 - 11
Mobility - May 2019 - 12
Mobility - May 2019 - Around the Worldwide Erc
Mobility - May 2019 - 14
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Mobility - May 2019 - 27
Mobility - May 2019 - Government Affairs
Mobility - May 2019 - 29
Mobility - May 2019 - 30
Mobility - May 2019 - 31
Mobility - May 2019 - 32
Mobility - May 2019 - Market Summary
Mobility - May 2019 - 34
Mobility - May 2019 - 35
Mobility - May 2019 - Pathways: How I Fell Into Mobility
Mobility - May 2019 - 37
Mobility - May 2019 - Member Picks
Mobility - May 2019 - 39
Mobility - May 2019 - The Numbers
Mobility - May 2019 - 41
Mobility - May 2019 - 42
Mobility - May 2019 - 43
Mobility - May 2019 - Mobility Trends Too Costly to Ignore
Mobility - May 2019 - 45
Mobility - May 2019 - 46
Mobility - May 2019 - 47
Mobility - May 2019 - Is There a Brain Drain in Mobility?
Mobility - May 2019 - 49
Mobility - May 2019 - 50
Mobility - May 2019 - 51
Mobility - May 2019 - 52
Mobility - May 2019 - 53
Mobility - May 2019 - The Gift of Service
Mobility - May 2019 - 55
Mobility - May 2019 - 56
Mobility - May 2019 - 57
Mobility - May 2019 - 58
Mobility - May 2019 - 59
Mobility - May 2019 - 60
Mobility - May 2019 - 61
Mobility - May 2019 - Mobility Matters
Mobility - May 2019 - 63
Mobility - May 2019 - The Past, Present, and Future of Household Goods Moving
Mobility - May 2019 - 65
Mobility - May 2019 - 66
Mobility - May 2019 - 67
Mobility - May 2019 - 68
Mobility - May 2019 - 69
Mobility - May 2019 - Making the Home Lending Process Simpler
Mobility - May 2019 - 71
Mobility - May 2019 - 72
Mobility - May 2019 - 73
Mobility - May 2019 - 74
Mobility - May 2019 - 75
Mobility - May 2019 - What a Relocation Appraisal Is
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Mobility - May 2019 - Destination Profile: Mexico City
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Mobility - May 2019 - 93
Mobility - May 2019 - Marketplace: Disruption & Change in the Moving and Storage Industry
Mobility - May 2019 - 95
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Mobility - May 2019 - 98
Mobility - May 2019 - 99
Mobility - May 2019 - 100
Mobility - May 2019 - 101
Mobility - May 2019 - 102
Mobility - May 2019 - Advertisers’ Index
Mobility - May 2019 - Industry Insights
Mobility - May 2019 - Cover3
Mobility - May 2019 - Cover4
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