Susan Shipman

Live theater and real estate appraisal may seem worlds apart, but Susan Shipman, managing director for Terzo & Bologna in Livonia, the two fields have more in common than you might think. As part of her work as a real estate appraisal, Shipman often has to testify in court, and she said testifying and performing live theater require some of the same skills

“You must be prepared and relaxed, and you must always tell the truth,” she said. Of course, in theater, you’re playing a role, but you have to project as if you really believe what you're saying, she added.

Real estate appraisal was never a field Shipman intended to enter. She said that, as a girl, if someone had suggested she go into real estate, she would have imagined doing interior decorating or selling houses.

But after a doing fellowship in theater at the University of Michigan, she decided theater was too risky a field. She began taking classes toward an MBA in the evening while working during the day at Ann Arbor architecture firm Hobbs + Black, but still didn’t know what she’d do with the business degree.

A friend asked Shipman what she enjoyed doing, and Shipman listed writing, research and analysis and running numbers among the tasks she enjoyed. Those interests led her to the field of real estate appraisal.

Shipman said her first appraisal was a convenience store with an apartment over it in Brooklyn, Mich., but she’s done jobs as large as appraising a 1 million-square-foot former tank plant in Warren.

She worked for herself at two different times, with a stint at a large firm in between. However, Shipman said a large firm wasn’t a good fit because “more work gets pushed down,” and she likes a more hands-on approach to her work.

Shipman said she respected Ray Bologna, president of Terzo & Bologna, and had wanted to work for him for some time. However, they were on opposite sides of two separate legal cases, and those had to be cleared up before she could come to work for Terzo & Bologna.

Once the suits were over, she started with the firm last October as managing director. She lists some of her duties as doing appraisal work “from start to finish,” handling clients who need quotes and doing business development and employee training.

“I'm just so happy to be in a place where everyone really and truly focused on doing a good job, not just a lot of work,” she said.

When she’s not working at Terzo & Bologna, Shipman serves as treasurer of the Detroit chapter of CREW - Commercial Real Estate Women. Shipman said she was “impressed by the high caliber of women who belong to the organization” and that it’s a great networking resource. The nonprofit also sponsors two charities: one that helps educate women and girls and another- the CREW Foundation - that helps girls find opportunities in real estate fields.

Background

Age: 55.

Education: BFA, Florida Atlantic University; Professional Theater Fellow, University of Michigan; MBA, University of Michigan

Family: Husband Dave (married 20 years), Golden Retriever Dillon, 14 step-grandchildren, nieces and nephews.

Residence: Matthaei Farm, Ann Arbor.

Business Insights

Best business decision: Becoming an entrepreneur.

Worst business decision: Working the second time with a client I didn’t enjoy working with the first time.

Best way to keep a competitive edge: Never stop learning - the day I think I know it all is the day I will retire because I will be bored to tears.

Personal hero: My husband.

How do you motivate people? Believe in them.

What advice would you give to yourself in college? Savor each moment - this won’t happen again!

Word that best describes you: Can’t do one word - committed, intense, passionate, intrepid.

First Web site you check in the morning: E-mail.

Confessions

What keeps you up at night? What I could be doing if I didn’t require sleep.

Pet peeve: Whining and intentional “cutesy” misspellings (e.g., Kwik Kleen Laundry).

Guilty pleasure: Pedicures, movies and oaky Chardonnay (hmmm … maybe I should combine them!).

First job: Counter girl at a dry cleaner.

First choice for a new career: First-grade teacher (“Good morning! You won’t believe how much fun we are going to have learning!").

Treasures

Favorite cause: Alternatives for Girls and the CREW (Commercial Real Estate Women) Foundation

Favorite book: To Kill a Mockingbird or Catcher in the Rye

Favorite movie: Shadowlands (but only the version with Anthony Hopkins and Debra Winger)

Favorite hobby: Golf, reading, and performing every year in Wine, Women & Song at Kerrytown Concert House

Favorite restaurant: Ann Arbor Golf & Outing

LinkedIn, Facebook or Twitter? Facebook

Typical Saturday: Some work, errands, and time with family and/or friends

What team do you root for? Michigan and Michigan State (I have an intercollegiate marriage)

Wheels: Mercedes wagon

Who would play you in a movie? Meryl Streep - because she can play anyone!

Sarah Rigg is a freelance writer and a frequent contributor to AnnArbor.com. You can reach her at sarahrigg@yahoo.com.