By Amelia Cuesta
Editorial Staff El Inmobiliario
SANTO DOMINGO. – Civil Engineer, appraiser, mother, wife, partner, company manager, are just some of the roles that Milagros Concepción fulfills day after day, smiling at life and offering the best version of herself to contribute her grain of sand, from the stage that she has been given to liven up life.
This positive Dominican woman studied Civil Engineering at the Pedro Henríquez Ureña National University (UNPHU). Focused and willing to give her best, Concepción began her professional life before finishing her degree.
Concepción is a woman who enjoys the magic of life: the glow of the setting sun, the scent of flowers in spring, the immense beauty of nature. She is inspired by the love and laughter of her loved ones and loves to give her best, helping those around her, radiating joy and positive energy.
Win-win is the philosophy she champions and that has led her to where she is today with more than 35 years of experience as an appraiser and with her own company.
In a conversation with El Inmobiliario, the multifaceted woman tells us about her career and how sincerity, professional ethics and nobility have been essential pillars in her life.
How long have you been working as an appraiser?
I started working before graduating in Urban and Rural Construction (CONURCA) under the guidance of my brother, engineer Jesús María Concepción, and my brother-in-law at the time, architect Dionisio Sánchez. With their help, support, and above all, the trust they placed in me, it was easy.
That's how I grew professionally. I spent 30 years at the National Housing Bank (BNV), where I started working as a Real Estate Appraiser. There, we implemented a fantastic program that for many years was a benchmark for anyone wanting to enter the field of real estate appraisals in the country. So, carrying out the interesting work of appraisals, then supervising them, and now doing them firsthand again, I've been in the business for 35 to 40 years
Do you work for a company or do you have your own company?
I currently work for my own company, Lujoma Inmobiliaria, SRL.
How important is appraisal in the real estate market?
It can be said that it is the conscious starting point of any commercial transaction involving real estate. Its importance is paramount.
It's the certainty that you're buying something consciously, with full knowledge of the facts, and with the peace of mind that your money is being invested in a product valued by an impartial expert. The same applies to the property owner and even more so to the financial institution acting as intermediary, should the property be acquired through a mortgage loan secured by the property itself.
This goes even further because these loans based on soundly assessed guarantees in turn form healthy mortgage portfolios, which support accredited and solvent financial institutions, even being able to use them as a form of even greater capitalization, taking them and managing them in a secondary market.
How many appraisals do you do in a month?
My company is still small. I do an average of 20 to 30 appraisals a month. Sometimes financial institutions hold real estate fairs, and then I have to go out and find extra help.
How do you handle the dissatisfaction of some clients who expect their property to be worth more than the appraisal?
One of my mentors at BNV, my friend, engineer José Cabral Reyes, always jokingly says that in the field of real estate appraisals there are usually three types of clients: the grateful, the annoyed, and the surprised. So, as an appraiser, you have to know how to handle all three, and more, because sometimes another type of client appears: the disappointed one.
To the latter, I ask, "Why do you think the value should have been higher?" I listen, consider their reasons, and review my report. If their claim is valid, I tell them, "You're right, I made a mistake in the formula for standardizing market values. I'll correct it immediately." If there's no error, I explain where the values come from until they're satisfied with the explanation.
Were there any conflicts with any clients at the time of the appraisal report?
Given the four client profiles I mentioned earlier, an equal number of conflicts can arise. A client who, in a seller's scenario, expects their property to have a high appraisal value, and the appraisal confirms it, will be a grateful client. However, if this same client needs the property appraised for tax purposes, they will be surprised and sometimes even annoyed precisely because the value was high.
Sometimes it happens that the house they send us to appraise is their dream home, the one they built by saving up every penny, and yes, it turned out beautifully, but it's right next to a corner store, a school, or a church. The appraisal comes out low, and they become a disappointed client.
Sometimes a client wants a low appraisal because they're negotiating with the seller, doing their best to get the best deal, which is perfectly legitimate. But if they're buying the house with a loan, and the bank lends based on an appraisal, they often need a large loan amount; in those cases, the opposite happens.
Working with sincerity and sound judgment, the noble task of determining the value of things cannot be tainted by any bias, contamination, or misconduct. Professional ethics, knowledge, and experience lead to accurate and reliable real estate appraisals, thus enabling the win-win situation necessary for the market to function and develop properly.
What makes you laugh?
Many things make me laugh. I laugh very easily! Laughter itself makes me laugh. Specifically, seeing my children laugh! That's it, my family's laughter makes me laugh!
What is the time of day you look forward to the most?
5:00 PM that moment of the day for me is magical: the sun shines, but does not burn, the breeze is soft, the afternoon is dressed in radiant colors, the work ends, the body and soul meet with God, with my husband, with my children, with my dogs, with friends.
What is your favorite season? Why?
Definitely spring, because it's like being reborn. Winter, when we huddled together for warmth, is over; autumn, though I love its colors, envelops you in a sense of sadness. So I'll stick with the season that has it all: the fresh breeze, the warm yet radiant sunlight, the flowers blooming in concert, filling the air with their exquisite scents, the trees in complete transformation, the bees bustling about, the animals running free, mating, reproducing. It's joyful, it's melodious, it's beautiful, it's sublime. I love spring!
Do you have a favorite phrase?
I have two favorite phrases: “all you need is Love” and “out of the abundance of our heart our mouth speaks.”.
What inspires you?
Everything that motivates me to be of service to those around me in some way inspires me. I'm inspired by living a life that, when people see it, inspires others to live similarly. I'm inspired by the certainty that by contributing a little or a lot, my actions can impact someone, help them achieve a desire, a goal, a dream. I'm inspired by people who are joyful, cultured, strong, supportive, intelligent, noble, simple, beautiful, gentle, real, flesh and blood. Nature inspires me, God inspires me!
