History
Mr. Grote has been involved in the real estate valuation, appraisal and consultation segment of the real estate market since 1977. In May 1990, Tracy Grote & Company was established to provide professional services to financial institutions, law firms, estate planners, CPAs, developers and individuals. The company provides real estate valuations, appraisals, consultation services, general feasibility studies, buy-sell due diligence as well as retrospective valuations.
Typical service applications include mortgage lending, estate planning, buy-sell options, divorce proceedings and feasibility overview. Property types include retail centers, office buildings, multi-family complexes and special use properties. Special use properties include quarries, mixed-use developments, golf course, industrial facilities, commercial and residential condominium units, and undivided ownership interests.
Appraiser Qualifications
W. Tracy Grote, MAI, is a real estate appraiser-consultant. He received the MAI designation in 1985. In 2007, he received the CCIM (Certified Commercial Investment Member). He has been actively engaged in the real estate profession since 1977 with primary emphasis in the appraisal of various types of properties to include residential, multifamily, commercial, industrial, and special purpose properties.
Formal Education
Bachelor of Science Degree from Tarleton State University
Master of Agriculture Degree from Texas A & M University
Real Estate Appraisal Courses and Seminars
- Society of Real Estate Appraisers Course 101
- Society of Real Estate Appraisers R-2, Case Study of a Single Family Residence
- Society of Real Estate Appraisers Narrative Report Seminar
- Principles of Rural Appraising Course sponsored by the American Society of Farm Managers and Rural Appraisers
- Standards of Professional Practice Course sponsored by the American Institute of Real Estate Appraisers and have attended the update courses/seminars
- American Institute of Real Estate Appraisers Capitalization Theory and Techniques Course 1B-1, 2, and 3
- American Institute of Real Estate Appraisers Case Studies in Real Estate Valuation
- American Institute of Real Estate Appraisers Analysis and Report Writing Course
- Financial Analysis for Commercial Investment Real Estate
- Market Analysis for Commercial Investment Real Estate
- User Decision Analysis for Commercial Investment Real Estate
- Investment Analysis for Commercial Investment Real Estate
Other seminars include:
- Urban Investment Properties
- Direct Capitalization and Cash
- Equivalency
- R41c Seminar
- Litigation Valuation
- Hotel & Motel Valuation
- Understanding Limited Reports
- Subdivision Analysis
- Evaluation of Commercial Construction
- Rates, Ratios and Reasonableness
- Tax Considerations in Real Estate Transactions
- Ranch Valuation
- Standards of Professional Practice
Professional Affiliations
- Member, MAI of the Appraisal Institute since 1985
- Currently holds a Texas Real Estate Broker License
- CCIM (Certified Commercial Investment Member) of the CCIM Institute since 2007
Past Activities:
- Board of Directors of the Society of Texas A&M Real Estate Professionals (fka the Association of Texas Real Estate Economists)
- Committee member for the Education Committee of the San Angelo Board of Realtors
- Instructor of basic appraisal theory and practice for the Adult Continuing Education Department of Angelo State University
- Nominations Committee of the Texas Plains Chapter No. 58 of the American Institute of Real Estate Appraisers
- Admissions Committee of the South Texas Chapter No.29 of the American Institute of Real Estate Appraisers
- Member of the National Admissions Committee of the American Institute of Real Estate Appraisers for 1987
- Treasurer (1990) for the South Texas Chapter No. 29 of the American Institute of Real Estate Appraisers
- Treasurer (1991) for the Austin Chapter of the Appraisal Institute
- Secretary (1992) for the Austin Chapter of the Appraisal Institute
- Vice President (1993-1994) for the Austin Chapter of the Appraisal Institute
- President (1995) of the Austin Chapter of the Appraisal Institute
- Elected as Region VIII past chapter president to the National Chapter Services Committee (1996)
- National examiner to the Appraisal Institute National Board of Examiners – Experience
- Subcommittee member to the Appraisal Institute General Appraisal Board
- Member of the regional Review Administration and Standards of Professional Practice panels of the Appraisal Institute