Joe Patterson, MAI, SRA, State Certified General Real Estate Appraiser for Aguirre & Patterson, Inc., made a life-changing career decision early in the game. Following in his dad’s footsteps, he chose a business career over what others might have expected him to do.
His dad, J.W. “Bill” Patterson, Jr., had been a star quarterback in college and in 1940 for the Chicago Bears and Pittsburgh Steelers. However, since the senior Patterson was only paid $150 a game, he decided, for the sake of his family, to quit the football he loved and join the Navy. With a desire to become a pilot, he was assigned instead to play for the Georgia Pre-flight School. Later he became a real estate lawyer and had an illustrious career. All over the walls of Patterson’s office pictures tell his family’s story.
Photos of his dad in his uniform and in his pin-striped suit looking like a gangster alongside Clark Gable and Mickey Rooney adorn Patterson’s wall. Joe too played football, but serious injuries knocked him out of the game for good. Another thing he possessed was a good tenor voice. That voice would take him to places he would never have imagined! He pointed again to those images on the wall.
“I sang God Bless the USA with such people as Mike Ditka, Tom Landry, Lou Holtz, Bob Lily and Mary Lou Retton.” Patterson said. Also, there were pictures of his talents playing Jesus and Joseph at his church. Becoming a professional model, Joe was screen tested in Hollywood. At that point he quickly discovered the Hollywood life would never be for him.
“I didn’t like somebody thinking I was somebody I was not,” he explained.
College, then, was next on his list. His decision was made. He would be his own man.
When he graduated from Baylor University with a Bachelor of Business Administration, one of his professors asked him to come to work.
“Where’s your office?” he quickly replied. “I’m yours. I’m ready.” And his career in the appraisal business was launched.
It was not love at first work.
“I didn’t know one thing about the industry. When I learned about appraisals and became proficient in talking about it and teaching it, that is when I started to like it,” Patterson explained. “I thought it was cool I was able to teach real estate principles to people who would go into that as a business. It gave me a lot of satisfaction.”
Interestingly, it was his ability to work with people and his outgoing, vivacious, and fun-loving personality that were ultimately behind being hired into a business he knew nothing about.
For five years he honed his craft, learning all he could and taking that information to the classroom. Moving back home to the Valley where he was born and raised, he has continued his education in appraisal work, always keeping up-to-date and becoming an Expert Witness for the industry as well as a speaker.
Patterson worked as an independent appraiser for seven years upon returning to the Valley, then opened his own business in 1984, Aguirre & Patterson, Inc. He obtained his MAI, (similar to a doctorate in appraising) and is a member of the elite Appraisal Institute. His extensive course study over the years reads like a small booklet with such classes as Basic and Advanced Hotel Appraising, Red Flags in Property Inspection, and Legal Updates.
Patterson sat back and began to explain the very complicated business.
“Appraisal work is not an exact science,” he said. “There are three approaches to value. The cost approach, the income approach, and the sales comparison approach. For houses, the sales comparison approach is the most important because it compares the house to be sold or bought to other sales transactions. The income approach I use primarily for income producing properties. That would be something like a strip center, office buildings, or hospitals, for example.
In 48 years, I feel like I’ve seen or done everything in an appraisal but each year something comes up I’ve never seen before,” he said.
A recent example was over an easement. It had been sold to the landowner but when the original owners wanted to put a road in, a tiny bit was on this easement. Instead of a reasonable small amount, the owners wanted a bunch of money. Patterson was called in to solve the quandary using art rather than science. Whether it is commercial, farm, ranch, or residential services that are needed, Aguirre & Patterson Inc. has done it all for 36 years. The company employs a staff of three and 11 contract appraisers, who Patterson feels are some of the best appraisers in the Valley.
Patterson has served as past president of Rotary, and the local chapter of the Appraisal Institute. He was also heavily involved in Fellowship of Christian Athletes. Without question, though, Patterson’s favorite topic is family, from his parents to his wife and kids; he loves to brag about them. For the epitome of a happy guy enjoying life, just take a look at Joseph William Patterson, III.