Frequently Asked Questions (FAQ) - continued

HOW DO I GO ABOUT DECIDING ON A VALUATION OR ASSET CONSULTANT?

Before the decision is made to hire a valuation or asset consultant, you want to make sure that they truly understand the significance of the project at hand, the steps necessary to complete the engagement, and will provide a meaningful deliverable in a timely manner.

The answers to the following questions will assist you in evaluating potential consultants.

1. Is the person just an “appraiser” (i.e. will they simply provide a “value”) or are they a business consultant who understands the “big picture”?

2. Does the consultant have experience in a variety of different engagements and occupancies and, in particular, our situation?

3. Will the consultant communicate with us on a frequent basis so we will avoid surprises and will understand the progress of the project on an ongoing basis?

4. Is the consultant independent and unbiased?

5. Is the consultant accredited and is their work product produced under professional guidelines?

6. Will the work produced by the consultant be supportable, reproducible, and well documented if a challenge arises?