Greer Advisors, LLC

 Innovators in Real Estate Analytics
 
   Company Overview

Greer Advisors, LLC is a multi-disciplined company capable of delivering a variety of services for the commercial real estate industry, including appraisal review, appraisal management, various advisory services, litigation support and tax appeal.

Appraisal review typically involves a desk review of a commercial appraisal report, although field reviews are available in certain locations. The review document can be on a client-provided template (with certain volume requirements) or on a Greer Advisors appraisal review template. An appraisal review completed on the Greer Advisors review template typically runs 20-plus pages long, and is one of the most-comprehensive reviews in the business. Three philosophies drive the reviews: 1) ensure the value, i.e. appraisal conclusions are right, 2) address potential concerns regulators might raise, i.e. protect the bank, and 3) provide a review document that is comprehensive enough so the client does not need to read the appraisal report, i.e. save time for downstream users of the appraisal report. A Greer Advisors review summarizes the key physical and economic characteristics of the property being appraised, summarizes the sales, rents, and the methodologies used to value the property. During the review process, the subject property and all comparables are geocoded (when addresses are noted in the appraisal). Data from the appraisal is databased, including the rent roll and Income/expense forecast. The data extracted from the appraisal is also available to the client via a variety of data file types, e.g. XML, CSV, etc. The current appraisal review platform can capture roughly 10,000+/- fields per appraisal, with roughly 1,000 fields captured from a typical non-complex commercial appraisal. Appraisals with multiple property types, multiple rent/sale data sets, and multiple discounted cash flows increase the number of captured fields. In addition to obtaining a comprehensive professional review from a third-party MAI, many clients find tremendous value in the database files, which can be incorporated into a variety of internal data systems.

Advisory services include strategic planning, portfolio monitoring, portfolio optimization, development of risk rating systems, indexing systems, compliance, web site/data delivery systems, econometric modeling, and a variety of ad hoc services upon request.

The company also hosts the www.AppraisalRegulations.com web site. The site is known as the “industry source” for appraisal-related regulations.

Mr. Greer is a recognized innovator regarding advanced analysis and commercial real estate. Today, he is known for incorporating Wall Street and Capital Markets data into the valuation of real estate assets, portfolios, debt and securitizations. Throughout his career, he has been a pioneer in real estate analytics. In 1986, Mr. Greer created a home appreciation index utilizing an interest-rate based logarithmic regression model. In 1987/88, working for a Ph.D. at a major accounting firm, he utilized desktop software (SPSS) to run econometric regression models in support of litigation and various consulting assignments. In 1990, in his demonstration appraisal for his MAI designation, he utilized multiple regression analysis on sales and rental data to support rent and value conclusions. In the early 1990s, he used various statistical software packages (SPSS, Minitab, Predict, SAS) for demand modeling. In 1996, Mr. Greer pioneered electronic delivery of appraisal and market reports within Bank of America by using Adobe Writer and posting the reports to an internal web site with the bank. At the time, the bank had more than a dozen appraisal offices, and Mr. Greer's was the only one with a web site/server. Mr. Greer also created "standardized adjustments" for the appraisers he managed, by downloading all the sales for a given property type within a given area (typically county), he would perform hedonic regression analysis on the top dozen factors that influenced value. Generally, the top four or five factors were incorporated into the adjustment model. Ultimately, the "write up" and XL templates were posted on the office server, and all appraisers used the results. The analysis was ran every six to twelve months. In 1998, Mr. Greer was creating an automated valuation model using a "similarity indexing" system for comp selection, standardized adjustments, and a value conclusion with a measure of reliability. The work stopped after the Bank of America - Nations Bank merger. Whether building automated valuation models, comp selection and standardized adjustment models, or working on loan loss forecasting, Greer has consistently been a proponent of advanced technical analysis.

In the mid- to late 1990s, Mr. Greer also used data from CoStar to create farming lists for loan officers. Rather than the typical 1-2% closing success, Mr. Greer's lists yielded up to 8% closing success by excluding properties that were difficult to pass the credit approval process. For example, old buildings, high land to building ratios, metal industrial buildings, heavy industrial buildings, anything with a new loan within the past 24 months, and many other items. In 2004/05, Mr. Greer also helped develop a prospecting tool for the Commercial Real Estate Banking group. He used data from F.W. Dodge, and built a web-based prospecting tool which enabled loan officers to search by developer location, property type, building volume and many other features.

Greer Advisors authors the “Capital Markets and Commercial Real Estate" monthly newsletter, which provides current insight into trends and yields from Wall Street pertaining to commercial real estate. The newsletter is free of charge.

Greer Advisors, LLC was founded by Everett Allen Greer, who is the Managing Member of the company. The company’s focus is to apply technology to improve the analysis of commercial real estate. The company also focuses on cost effective and timely analysis via the utilization of advanced analytic tools, telecommuting, and wireless access in an effort to maximize the efficiency of data analysis and problem solving.

Address:
Greer Advisors, LLC
633 West Fifth St., US Bank Tower, Suite 2600
Los Angeles, CA 90071

Tel.:           213.985.3800
Fax:           213.985.3900

New York:  646.867.1600   /   San Francisco:  415.233.6300   /   Los Angeles:  213.985.3800   
   Dallas:  214.347.7500   /   Miami:  786.629.9600   /   San Diego:  619.618.2500

Copyright© 2009-2017 Greer Advisors, LLC

Questions / Comments:
EAG@GreerAdvisors.com


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