Green Building Property Appraisal Services
Appraisal services for green buildings, including LEED and Energy Star, to Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Eagle, Elbert, El Paso, Gilpin, Jefferson, Larimer, Summit and Weld County
Cody Gale, MAI is both a LEED AP and Certified General Appraiser, giving him the unique capacity to provide valuation solutions for any type of green property. He has worked on multiple green building projects, including LEED appraisal, green property appraisal, green property consulting, feasibility studies, LEED Certification and more. He served as the Chief Sustainability Officer for Daniels College of Business while obtaining his Masters Degree in Real Estate & Construction Management from the University of Denver and is currently part of the Colorado Commercial Real Estate Initiative. He has substantial experience and training regarding green building costs and financial implications.
It is important that fundamental real estate characteristics related to value are not overlooked simply because the property is green. If you are developing a “green” project, or would like expert consultation from an appraiser’s point of view who has worked on these type of projects from both perspectives, you may want to consider our Green Building Consulting Services.
Appraisal Property Types
Cody Gale, LEED AP and Certified General Appraiser, has experience in all major property types:
For quick pricing to appraise your green or LEED property, please use our pricing page. Be sure to include 3rd party certification, if any, of the property.
Access our Green Building Appraisal Resources page here.
What is a Green Building?
Most green building definitions share the common theme that a green building is built and operated to:
Minimize energy, water, waste and overall resource consumption, limit on-site and off-site environmental degradation, maximize building life cycle including materials and occupancy changes, consider the health of human occupants, and utilize high performance building systems to achieve on-going, building-wide efficiency.
Within appraisal, the best definition for a green property is its third party certification (and level of certification). To aid in understanding what a green building or house is, please see this post on Green Building Definitions and Certifications.
Getting an Appraisal for your Green House or Building
The single-most important aspect to the proper valuation of a green property is the selection of the appraiser. This is followed by documentation and record-keeping.
Like any other appraisal situation, the appraiser is required to have experience with a particular property type prior to accepting the assignment, or, disclose the lack of experience to the client prior to accepting the assignment, in which they must disclose in the appraisal report the steps taken to gain competency.
Using an appraiser who is not familiar with LEED or green buildings typically results in little to no analysis done on their behalf with respect to the subject, or the market. Believe it or not, there are appraisals of LEED properties in which the appraiser has not even mentioned once throughout the entire appraisal that the property is certified. Whether market data supports a premium or no premium, it is still a characteristic of the property that should be analyzed, or at least disclosed.
Utilizing an appraiser who is familiar with green building will increase the likelihood of a proper valuation. The US Green Building Council recognizes a LEED Accredited Professional (AP) as an individual with substantial green building education and continuing education within green building. Cody Gale is a LEED AP and experienced appraiser. Having worked on multiple green building projects, including LEED feasibility and Certification, as well as serving as the Chief Sustainability Officer for Daniels College of Business while obtaining his Masters Degree in Real Estate & Construction Management from the University of Denver, he has substantial experience and training regarding green building costs and financial implications.
Documentation & Record Keeping
Documentation proves “claims”. This can range from the components that are installed to whether or not the property is Certified.
Even from before a renovation or initial installation, keeping records and tracking costs can help formulate a better understanding of the gains or losses accruing to various items. Costs such as installation/product costs, monthly maintenance costs, utility bills, cleaning bills, changes in employee sick days, number of maintenance calls, or anything related the performance of the building, will support the proper understanding of what you have installed and how it is working.