"A going concern is an established and operating business with an indefinite future life. For certain types of properties, the physical real property assets are integral parts of an ongoing business.” - “Only qualified practitioners should undertake these kinds of assignments, which must be performed in compliance with the appropriate professional standards. It may be necessary for a real estate appraiser to collaborate with a personal property appraiser or a business appraiser or both on such an assignment." Appraisal of Real Estate, 14th Ed. (p. 63 and 64)

"When the scope of work includes an appraisal of personal property, trade fixtures or intangible items, competency in personal property appraisal (see STANDARD 7) or business appraisal (see STANDARD 9) is required." USPAP, Standard Rule 1-4(g)

"Whether labeled a separation or an allocation, it is an appraisal as defined in USPAP".

Bruce E. Jones MAI, ASA, BCA, CMEA – is one of the few highly experienced real estate appraisers who also not only holds the distinguished MAI designation from the Appraisal Institute and the Accredited Senior Appraiser designation from the American Society of Appraisers, but also holds designations as a Business Appraiser (Business Certified Appraiser (BCA), and as a Certified Machinery/Equipment Appraiser (CMEA).

The BCA designation is awarded by the International Society of Business Appraisers (ISBA) and is one of only a few designations that are recognized by the Small Business Administration (SBA) as a "Qualified Source" for business appraisals. I am also a Qualified Source for machinery and equipment appraisals for the SBA as a result of being awarded the coveted CMEA designation from the NEBB Institute.

For special purpose properties, accurately identifying and quantifying the contributory value of non-realty components is crucial to a credible real estate appraisal. How can an appraiser do that if they don’t know what those other components are worth?

Additionally, it is the business that pays the mortgage and maintains the property, rather than rent from tenants. Therefore, blindly applying a “market” rental rate to derive real estate value, without carefully analyzing the business is not likely to yield credible results.

Bruce E. Jones, MAI, ASA, BCA, CMEA, CTA leads the commercial division and brings over 30 years of real estate experience. In addition to holding the MAI designation as a real estate appraiser, I am hold the Business Certified Appraiser (BCA) designation with the International Society of Business Appraisers, as well as being a Certified Machinery/Equipment Appraiser. I specialize in properties that represent a blend of real estate plus an intangible business value, along with personal property such as furniture, fixtures and equipment. including complex and special use properties, as well institutional and investment quality assets throughout the U.S.

Integrity refers to both the moral character of the appraiser, as well as the quality and content of the completed appraisal. Personal, professional, intellectual and artistic integrity are demonstrated throughout the appraisal process.

• Professional integrity is reflected by thorough knowledge and research coupled with consistent application of best practices and professional ethics adopted by the industry.
• Personal integrity involves being honest with yourself and others and consistently acting in a manner that is in conformance with your beliefs and value system.
• Intellectual integrity in appraisal is best reflected by analysis and problem solving that is grounded in the scientific method to the extent that is possible and seeks to test and explain market behaviors through careful analysis and making observations from empirical evidence, in contrast to the well known "trust me" standard.
• Artistic integrity comes from the creative problem solving process. The mental process of searching for a solution to an appraisal problem which is often not obvious. Creative solutions often have an "elegant" characteristic and may involve a simple change of perspective. It focuses on divergent thinking, the ability to develop multiple ideas and concepts to solve problems.