Left, Mishelle Martin and Scott Humphreys, Principal Partners of D.R. Coell & Associates
By Mark MacDonald
VICTORIA – As D.R. Coell & Associates celebrates 50 years of appraising real estate this year, they’re admiring the past, but also looking forward.
Founded by David R. Coell in 1974 to assist the private and public sectors with commercial and residential valuations, Mishelle Martin, a Principal Partner of the firm, is excited about new people who have arrived as the company has upgraded over recent years, and points out there is a need for new appraisers in the industry.
Martin and partner Scott Humphreys have led the company since 2014, and they acquired the Canadian Self Storage Valuation Services appraisal firm that year, and have expanded the service across Canada. In 2017 they bought IDB Solutions, which specializes in Depreciation Reports throughout B.C.
“We would like to continue acquiring more appraisal companies and let our experienced team take the lead over time,” Mishelle says. “I think there is real value in providing this type of opportunity to new appraisers getting into the business as well as experienced appraisers looking to build on their existing portfolios.”
Collaboration helps clients find the right professional for the right job as each team member specializes in unique segments of the marketplace.
In the first three years of their ownership, nine senior AACI appraisers retired, but they were up to the challenge of attracting new qualified team members.
“We engaged with the existing team, leveraging the knowledge of the lone remaining senior AACI (Appraisal Institute of Canada) appraiser, and slowly integrated new talent that would carry forward the torch of excellence,” she recalls. “The recent addition of three Senior Appraisers: Rick Howard, Liam Fast and Alanna Gagliani, along with Scott and myself, our team of nine dedicated candidate members and outstanding administration team, exemplifies the company’s dedication to providing clients with great expertise.
“These industry veterans, associates and staff bring over a century of combined experience, ensuring that D.R. Coell & Associates remains at the forefront of innovative appraisal practices for years to come,” she adds. “The journey of the past 11 years serves as a testament to the spirit of our team and the enduring legacy of a company that has not just survived but thrived in the face of change.”
Collaborating with the development community and assisting them in their efforts over the last 10 years has been very productive.
“Some of the most frequently ordered services for me include appraisals for proposed medium and high-density multifamily developments, land acquisition appraisals for future development and construction financing appraisals,” she states.
D.R. Coell provides accurate, efficient and clear reports that adhere to the highest standards in the industry and provide clients with valuable data on which to base their decisions.
“On the investment side, both owner occupier and investor type clients are consistently refinancing their properties and having a comprehensive and up to date market value appraisal assist our clients when shopping the market for the best rates and terms on a new mortgage.”
Mishelle also has a boutique residential appraisal practice that covers unique residential appraisal requests such as appraisals for litigation, matrimonial and estate appraisals, as well as a niche in high end residential properties, including more difficult waterfront properties. This is in addition to services the company provides in appraisals for purchase and sale, refinancing, insurance, assessment appeals, expropriation, litigation, depreciation reports and capital plans.
“D.R Coell & Associates has a reputation for specializing in some unique property types as well, including marinas, master planned communities, water lots, air parcels, and self-storage,” she notes. “Our clients range from small, medium and large private companies to all levels of government on the municipal, regional, provincial and federal level.”
Mishelle says the key to the firm’s success is the dedication of their team.
“Without their commitment and efforts we wouldn’t have achieved the milestones that define our success today,” she says. “Our team’s collective expertise, hard work, and shared vision have been instrumental in navigating challenges, implementing innovative solutions, and propelling our company to its current position.”
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