Rich McDermott

Richard McDermott is an MAI real estate appraiser and principal of R.P. McDermott Associates LLC, a real estate appraisal and consulting firm established in July 1993. The firm provides appraisal consulting, fee appraisal and appraisal review services to federal and state agencies, municipalities, land trusts, private individuals, financial institutions and corporations.

Richard received a Bachelor of Science degree in Business Administration with a concentration in Marketing Management from Montclair State University and a Master’s Degree in Regional Planning from the University of Massachusetts at Amherst.

After completing his master’s degree, Richard worked as a real estate analyst with the Trust for Public Land (TPL) where his primary responsibility was interfacing with landowners and MDC foresters on a regional watershed land acquisition project within the Quabbin, Wachusett and Ware reservoir systems in western Massachusetts. Other responsibilities at TPL included evaluating land acquisitions, easements, appraisals and land exchange projects.

Richard transitioned to becoming an appraiser by working 4 years as a fee appraiser under Karl Kaffenberger MAI and John Flint MAI in Simsbury Connecticut before he was hired by Fleet Bank in Hartford as Chief Appraiser. At Fleet Bank Richard was responsible for setting up and managing an appraisal department as well as ordering and reviewing appraisals.

The primary focus of R.P. McDermott Associates LLC is the valuation of land, conservation easements, farms, farmland preservation easements as well as appraisals and market studies for affordable housing projects. Richard has extensive appraisal and review experience with the CT DEEP’s open space grant program, the CT Department of Agriculture’s Farmland Preservation Program, the U.S. Department of Agriculture (ACEP-ALE and ACEP-WRE), and the CT Housing Finance Authority (affordable housing projects).