WHEN IS A VALUATOR APPRAISER AN EXPERT?
Posted on Jun 1, 2022 4:35am PDT
A valuator (business or IP) or appraiser (hard asset: real estate, equipment
or inventory) is considered an “expert” when one or more of
the following occurs:
- He is qualified by a court of law or similar tribunal, such as an arbitration
panel, to provide credible deposition or testimony evidence as to his
findings and opinions.
- He has performed substantive analysis that results in his client receiving
a positive outcome or reward.
- He has demonstrated that his qualifications and credentials have been applied
to a particular engagement, such that the parties accept his conclusions of value.
- He can simply and clearly, and without bias, explain his process and assumptions
to interested and disinterested parties. And his conclusions are understood
and accepted.
- He has performed numerous engagements in a particular industry, or niche
within that industry, that the metrics and nuances are second nature to him.
- He is so well endorsed by his peers that they ask him to participate on
expert, panels and serve as a third party to mediate disputes, especially
complex ones.
- The IRS contacts him to opine, either privately or as their expert on new
regulations, value approaches, and complex court cases.
- He continually questions and provides alternative arguments to the valuation
or appraisal issues/techniques that are debated among the more scholarly
technicians.
The Mentor Group professionals clearly fulfill each and every one of the
above criteria for defining an expert in his field of endeavor.