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Established in 1986, Miller Samuel is a family-owned independent residential real estate appraisal and consulting company covering the New York City metro area. The firm provides residential appraisal valuations in aggregate of as much as $5 billion annually. Co-founder Jonathan Miller authors a series of widely followed market reports on residential housing markets in the New York City metro area, South Florida, Los Angeles and Aspen, CO for Douglas Elliman Real Estate. The firm has also provided consulting services for various multiple listing systems, government entities and real estate developers across the United States.
The company was founded by the Miller family who had a variety of real estate experience including appraisal, sales and rental brokerage, property management and development along with a strong interest in technology. Near the end of a successful effort to raise capital to launch a real estate brokerage business in the mid-1980s, the family opted to pass on the opportunity. It was clear there was a large void in residential appraisal expertise so the family decided to shift direction and focus on appraising. Miller Samuel was born in Manhattan on October 1, 1986 and began to amass data and using it to extract housing market insights not previously presented by the appraisal industry. The firm did things differently from the outset, managing information with databases and hiring and training staff appraisers rather than using independent contractors who often worked for multiple firms. In midst of the 1980s New York City housing boom, Manhattan still did not have a traditional multiple listing system. Co-op apartments, the predominant residential housing type, were not available in the public record despite being the largest type of owner occupied housing stock so the timing was right. The firm developed propriety appraisal software before commercial alternatives were widely available and steadily expanded in size and coverage areas over the ensuing decades.