History

Diversified Real Estate Services, Inc. is a full-service real estate firm committed to serving clients with real estate appraisals and consultation. The firm was originally incorporated in 1991. Since inception, the company has been centrally located in downtown Minneapolis, providing expert appraisal service primarily to the Minneapolis/St. Paul metropolitan area and the surrounding region. Along with holding licenses in Minnesota, we are also able to offer services through permanent or temporary licensing in North Dakota, South Dakota, Wisconsin, Colorado, Kansas, Georgia, Michigan, Missouri and throughout the United States. The firm’s primary focus is on serving the needs of local lending institutions. We believe that being located in downtown Minneapolis, the heart of the financial and economic center of Minnesota and the Twin Cities metropolitan area, uniquely positions the firm to closely serve local lending institutions.

Stuart J. Mortrude, MAI, Timothy L. Vergin, MAI, CRE®, and Ryan L. Bauer, MAI, principals and shareholders in the firm, each hold the MAI designation as awarded by the Appraisal Institute. Mr. Mortrude and Mr. Vergin each have a Bachelor of Science degree in real estate from St. Cloud State University, while Mr. Bauer has a Bachelor of Science degree in finance from the University of Nebraska.

Diversified Real Estate Services, Inc. employs appraisers to serve clients with commercial appraisal and consultation needs of differing types of properties and to serve a variety of functions. All appraisal employees are held to the Uniform Standards of Professional Appraisal Practice (USPAP) and the Appraisal Institute Standards of Professional Ethics and are encouraged to work towards a professional designation in the Appraisal Institute. The Appraisal Institute is an international membership association of professional real estate appraisers, with more than 18,000 members and 99 chapters throughout the Unites States, Canada, and abroad. Its mission is to support and advance its members as the choice for real estate solutions and uphold professional credentials, standards of professional practice and ethics consistent with the public good. The professional staff of Diversified Real Estate Services, Inc. has always been actively involved with the Appraisal Institute, an organization which is the result of the January 1, 1991 unification of the American Institute of Real Estate Appraisers and the Society of Real Estate Appraisers. All appraisers participate in continuing education which is required by the Appraisal Institute, as well as the State of Minnesota Department of Commerce.

The Appraisal Institute confers two Membership Designations: MAI and SRA. Members of the Appraisal Institute may also hold other membership designations, including SRPA, SREA, and RM. Members holding Appraisal Institute designations are recognized as the most qualified in their fields. The Appraisal Institute continues to enforce a strict code of ethics and the Uniform Standards of Professional Appraisal Practice.