Nick has been working in the Appraisal industry since 2001 and currently is a principal of Edge Realty Advisors. Many of you know Nick from his dedicated service to the East Florida Chapter Board of Directors where he served as Chapter President in 2014. Since his term as president, he expanded his service to the Regional and National levels, including:
Beyond active leadership roles at all levels of the Appraisal Institute, Nick has also been busy developing, writing and teaching courses. Nick was an active participant in the development of the Appraisal Institute review designation courses, and more recently authored Florida Appraisal Laws & Regulations for Region X, which he also regularly teaches. Additionally, beyond just the reach of the Appraisal Institute, Nick is an AQB certified USPAP instructor and is actively involved in USPAP promulgation as the vice- chair of the Appraisal Standards Board.
I asked Nick why he devotes so much time to the Appraisal Institute and the appraisal profession. His response was that he just wants to give back and make an impact on the appraisal industry and promote public trust in the appraisal profession. Further, he wants to be a mentor to others who are getting started with the development of their careers.
I asked Nick what he would tell his 20-year-old self. His answer, “You should get involved with your professional organization early and look for mentors to help specialize your practice.” Currently Nick’s specialization is appraisal compliance, and he focuses on consulting and litigation for complex assignments nationwide. Nick takes a technology forward approach to appraisal and has formulated forensic appraisal review compliance tools including algorithms that analyze appraisal data, as well as proprietary appraisal compliance review methodologies that facilitate project management and implementation to ensure credible appraisal review practices.
I also gleaned a few other words of wisdom from Nick:
“You can always learn something.” Nick is always trying to expand his knowledge base.
“Your mentor does not have to be the person you work for… surround yourself
with people that are smarter than you by being involved.” He encourages
appraisers to get involved in the Appraisal Institute, because if you are
consistently involved, you will develop relationships that can benefit both you and
others in the organization. Nick urges members to make a point to build trust with
those who are successful
“Family and health come first.” Nick’s relationship with the Appraisal Institute is
like that of a family. He recalls how the appraisal community rallied around him a
few years back when having some health issues.
It was fun catching up with Nick, who I worked with more than eight years ago now. I
hope others will have the opportunity to get to know Nick Pilz.
Nicholas D. Pilz, MAI, SRA, AI-RRS
AQB Certified USPAP Instructor
Edge Realty Advisors
FL Cert Gen RZ3538
GA Certified General 430636
Interesting Events & Stories:
By Ira S. Bellinkoff, MAI, CCIM – Edge Realty Advisors
Known as the Dr. Phillips House, the subject is a three-story Queen Anne/Shingle-style historical home, with a Greek Revival portico, comprising 8,436 SF of net rentable area (NRA) that was originally constructed in 1893 and fully restored in 1999 by the Meiner family. The interior includes a commercial kitchen and dining room on the first floor along with six furnished guest rooms located on the second and third floors. The backyard includes a small fountain, gazebo, brick pavers and a covered patio. In 1978, the City of Orlando made the subject a historical landmark, and it was added to the National Register of Historic Places in 1979. This property has historically been used as Louis’ restaurant, a catering/wedding banquet facility, and occasionally for overnight accommodations. The subject is extensively furnished with paintings, furniture and fixtures that were reportedly sourced all across the world. Thankfully, the appraisal assignment only involved appraising the real estate!
To determine comparable sale selection and the highest and best use, several questions had to be answered such as:
Despite being a well-known figure in Orlando as an orange grove magnate in the late 1800’s and early 1900’s, people outside of Orlando would most likely be unfamiliar with Dr. Phillips. Overall, the architectural qualities of the subject and its historical significance did not warrant extending the selection of sales beyond downtown Orlando into other marketplaces; however, comparable sales included sales of local historic properties with different uses but similar architecture or sales of local similar-use, competitive, but non-historic properties. The appropriate increment for historic qualities was isolated from paired historic and non-historic properties.
Appraiser Projects / Stories / Biographies:
Michael Moran, SRA, AI-RRS was recently appointed by the Appraisal Institute’s President, James L. Murrett, MAI, SRA, to serve on the Client Advisory Board. Mike is a Vice President with IBERIABANK and serves as Director of RETECHS Residential. He also serves on the Board of Directors for the East Florida Chapter. He can be reached at 407.353.6050 and firstname.lastname@example.org.