Sally Marks has been a commercial real estate appraiser with Crenshaw Williams in Mandarin since June 2003.
WHAT DOES SHE DO?
“I appraise commercial properties and I mostly specialize in shopping centers, office buildings and commercial land that is being developed into retail use.”
PRIOR TO APPRAISING?
Marks was at home with her two small children. Prior to that she did commercial brokerage, primarily tenant representation for Coldwell Banker Nicholson-Williams Commercial Realty for about a year and a half.
HER HISTORY
Marks started her real estate career in market research with Cushman and Wakefield. “My job, down in Miami, was to help the office brokers keep track of all the office space available. My job was to maintain the database. I learned how the brokers worked and to analyze lease proposals from several different landlords so that we could which one was the best deal for our tenant.” In 1992, she moved over to another firm in Miami, Terranova Corporation, as director of market research. “I did the same thing as I had done at Cushman and Wakefield, but it was in the retail sector.”
WHY GO INTO APPRAISING?
“When it was time to go back to work, I thought I would like appraising. It’s the same kind of field, but there isn’t the same kind of ramp-up period as brokerage. I thought it might be nice to join a family business, so that’s why pursued appraising. My background in commercial brokerage helped me be a good appraiser. I was familiar with the whole retail and office aspects.”
WHAT DO YOU LIKE ABOUT COMMERCIAL APPRAISING?
“The best part of it is appraising proposed projects because I get to know what is going on in Jacksonville and what is coming. The other thing that I like about appraising is that when I am working with proposed projects, I get to learn about the whole development process from buying the land to getting the building fully occupied. The whole thing is very interesting.”
TYPES OF ITEMS SHE APPRAISES?
She appraises proposed projects or existing structures that are either being sold or refinanced. “We have a lot of 1031 exchanges going on in the marketplace and all of those need appraisals. We are really, really busy. It’s a very active and vibrant commercial market here in Jacksonville. There is just a lot of interest in commercial real estate from an investors standpoint.”
PREVIOUS EXPERIENCE HELP YOU NOW?
Marks said her previous experience in market research was very important to her getting the appraisal job. “Ninety percent of the job in appraising is research. Ninety percent of appraising is searching for the facts and then making judgment. My background is perfectly suited for appraising.”
LESSONS LEARNED?
“How to keep secrets and to keep things confidential. I’m a pretty open person, but I’ve learned in appraising that people will ask me questions that they know I can’t answer. I just tell them that I can’t divulge that information. I’ve also learned to verify facts a little more.”
ADVICE FOR A NEW COMMERCIAL APPRAISER?
“It is a very sedentary job. You spend a lot of time sitting down. Just make sure that is what you want to do.”
PROBLEMS APPRAISERS FACE TODAY?
Marks said getting good quality information they need on comparables sales is sometimes hard.
WHAT CAN REALTORS DO TO HELP YOU?
“If I call them up and ask them for information, they should return my phone call and give me all the information I want.”
HOMETOWN?
Miami.
MOVED TO JACKSONVILLE?
1998.
COLLEGE
She has a bachelor’s degree in broadcasting from the University of Florida and a master’s degree from the University of Miami.
PROFESSIONAL ASSOCIATIONS?
She has been attending the Commercial Real Estate Women of Jacksonville meetings but hasn’t joined yet. “I like associating with other commercial real estate women. I think it is good for all of us to do that.”
RESIDES
Sampson. “It’s off of CR 210 between I-95 and Julington Creek.”
PERSONAL INFORMATION?
When she is not working, she enjoys bike riding, going to the park with her dogs, sailing and going to the beach. She has been married to Daniel Markus, branch manager of the Bartram Trail library, for 10 years. They have two children, Samantha, 9 and Kimberly, 6. Her favorite move is a toss-up between “The Producers” and “It’s a Mad Mad Mad Mad World.” A book she read recently and would recommend is “The Price of Loyalty: George W. Bush, the White House,” and “The Education of Paul O’Neill.” When dining out, she prefers Ruth’s Chris Steakhouse. She doesn’t watch a lot of television, but she is a devout listener of National Public Radio. Her favorite getaway spot is Cumberland Island in Georgia.
- by Michele Newbern Gillis