Question: Contact a local commercial realtor and obtain a copy of a valuation he or she has performed on an investment property in your general geographic area.
a. Review the analysis and critically evaluate the realtor's work. Specifically review the cost approach, the comparative sales approach, and the income approach.
b. Drive by the property and assess the demand for and supply of competitive properties in the area.
c. On the basis of your review of the realtor's professional analysis and your own assessment of the property, make a list of your questions and comments on the professional analysis.
d. Make an appointment with the realtor who provided you with the analysis, and in your meeting with him or her, go over your list of questions and comments.