Key disconnects between the real estate and business valuation professions that can blow up holding company and other real estate-related valuations. Join Dennis A. Webb to learn about the built-in conflicts between real estate appraisal and business valuation. Do you think that the two related professions would have a common understanding of valuation premises, use of data, and the appraisal process generally? They don’t. Misunderstandings and blind spots affect valuations of pretty much any business for which real estate is a principal asset. This includes principally asset holding companies (FLPs, LLCs, even tenant-in-common interests) and special-use real estate (generally “going concern” contributions to real estate value). Business appraisers are not expected to value the real estate, but they do need to be able to ask the right questions.