Phone: 717-763-1212 Ext. 191
After 30 years in the banking industry, Bob McDonald joined RSR REALTORS® in May 2013 with analytical and interpersonal skills that clients can bank on. Combined with a seasoned, in-depth knowledge of the complexities and curves of the real estate market on both the East and West shores, Bob has already emerged as an RSR all-star.
As RSR’s Business Development Manager, he is responsible for relationship management as well as business procurement and maintenance. To build upon his already impressive skill set as both a time-tested numbers-cruncher and a people person, he is also working in the RSR Appraisers & Analysts division, training to become a certified commercial appraiser.
As an appraiser trainee, Bob works as an apprentice under an expert who reviews all work. After gaining experience over the course of 30 months, he will sit for testing at the state level to earn his official appraiser certification.
Bob fits in organically with Greg Rothman’s larger plan to beef up their appraisal work. Rothman saw that RSR has not marketed their appraisal services extensively, and decided to tap into Bob’s experience in the banking sector, especially with banks that had not tapped into their appraisal services in the past.
Enter Bob: “I was looking for a career change away from banking, and what drew me to appraising commercial real estate was the fact that it allows me take some of the skills I learned in 30 years of banking and apply it to a new career.”
The “appraiser” hat was a match made in heaven. During his banking career, including his most recent stops at Centric Bank and Mid Penn Bank, he underwrote a variety of commercial loans, many of which were secured by commercial real estate.
Having done a great deal of real estate work and property settlements, and reviewing appraisals all the time, he was well aware of the income approach, which is similar to the analysis an appraiser conducts to determine the value of the property.
“I kind of have a head start on that piece of it,” Bob said. “It seemed to be a natural fit to move to that direction.”
And the way banking has changed, he doesn’t foresee a reduced demand for appraisals in the future.
“If anything, I believe the need for appraisals will continue to increase because the regulations will continue to get tighter and tighter,” he predicted.
The lingering recession has already proven that assessment. When the economy is down and a troubled loan is secured by real estate, banks are required to confirm the value of the asset supporting the loan; when the economy is going strong and banks are lending, they need appraisals to determine the value of what it is they are lending against, McDonald noted.
The income approach is the method for determining the value of property, basing that value upon how much money a property produces from rents. By calculating income minus expenses and applying the capitalization rate to that difference, a skilled appraiser can determine value.
Bob’s background in commercial lending, credit analyses and underwriting makes him a skilled math man, but “I enjoy the customer contact, too,” McDonald said.
“[My work at RSR] fits my personality in that I’ll be able to continue to do that analytical piece, but I’ll still have face to face customer contact on the business development side, which is something I greatly enjoy.”
And why take his talent and experience to RSR? RSR “developed an excellent reputation in the marketplace. They are one of the largest, if not the largest, appraisal firm in Central Pennsylvania,” McDonald said. RSR came onto his professional radar screen in the early 1990s, when McDonald worked at Pennsylvania National Bank and Bill Rothman served on the bank board.
“I’ve been familiar with Bill for 20 to 25 years and had some business dealings with Greg and Garrett Rothman. I‘ve been impressed with what they’ve accomplished. It was natural fit.”
McDonald also likes the RSR approach to training.
“You start out doing the appraisals from beginning to end, you work on the entire assignment and not just a piece of it, which I think is a more effective way to learn the business.”
Bob and his wife Mindy reside in Fairview Township, York County. They have a daughter, Abby, and a son, Greyson.
As he nears full certification, Bob says with typical enthusiasm: “I’m really looking forward to it! I’m excited for the opportunity and can’t wait to get started.”
To view Bob’s resume, click here