Post by asadul7171 on Feb 14, 2024 6:03:23 GMT -5
You will say, valuing a property is the ABC of the real estate agent; and you will be completely right. However, a knowledgeable advisor should never neglect the ups and downs of the circuit, and this topic changes its variables so quickly that what we took for granted until the previous week may have already shifted its focus and direction in other directions. Knowing the client in real estate is everything. In this area, it is interesting to propose a game to the client during the first interview. Taking into account that whoever arrives at your real estate office has already been through many others before or plans to do so after visiting you, it will be beneficial to locate them regarding the reality of their situation regarding the diligence. That is, bring it down to reality, to the level. We say that often the client will have a preconceived assessment of his property, seeing more virtues than defects of it. For them, in a didactic way and before your first interview ends, it will be advisable to know what the owner's opinion is about the home he is going to offer for sale or rent. If you have some experience in the circuit, you will know that the client usually confuses valuation with appraisal, these two being very different things. We review these two concepts together.
Appraisal An appraisal is a certificate of legal validation that may reveal the polished values of a previous appraisal. In this sense, it must be carried out by a professional architect or technician; a certified real estate agent or advisor. The figure that will legally expose the current market value of the property will be assigned through an official, irrefutable and objective Afghanistan Email List scale. Assessment The appraisal on the other hand, serves as a guidance tool and can be carried out without even setting foot on the property; nor see photographs of it. It will be addressed from your information in the cadastral database. Therefore, the client must be aware that no assessment has a legal character that an interested party, agency or body is obliged to respect. That said, depending on the procedure to which a property must be submitted, a valuation or an appraisal will ambiguously be required. Therefore, a valuation may be enough to put a property on the market and an appraisal will be more required to address legal issues such as a mortgage application, the distribution of assets through an inheritance, etc.
However, remember that this does not necessarily have to be the case in all cases. Learn to value a property To begin your path as a real estate agent, learning to value a property is key; But the truth is that developing this skill thoroughly can make you stand out in your team or your autonomous real estate office can make a substantial difference compared to its nearby competitors. The result of the valuation of a property will depend on its purpose. There are many types of assessment taken into account for dozens of procedures with the most diverse objectives. Let's look at different types of valuation, the most common at the moment. Mortgage valuation This value of a property will be reached thinking about its durability over time. In Spain, for example, it is used by banking entities to grant mortgage concessions; In its context, it will guarantee financial stability, preventing any sudden changes to which the market could be exposed. Market valuation A single real estate negotiation is made up of several procedures. In the first instance, the real estate agent and the client must agree on a price “to be assigned” for which a potential interested party will be willing to pay and that covers the needs of the owner. This valuation is called “purchase and sale” and can be significantly modified by dozens of variables.
Appraisal An appraisal is a certificate of legal validation that may reveal the polished values of a previous appraisal. In this sense, it must be carried out by a professional architect or technician; a certified real estate agent or advisor. The figure that will legally expose the current market value of the property will be assigned through an official, irrefutable and objective Afghanistan Email List scale. Assessment The appraisal on the other hand, serves as a guidance tool and can be carried out without even setting foot on the property; nor see photographs of it. It will be addressed from your information in the cadastral database. Therefore, the client must be aware that no assessment has a legal character that an interested party, agency or body is obliged to respect. That said, depending on the procedure to which a property must be submitted, a valuation or an appraisal will ambiguously be required. Therefore, a valuation may be enough to put a property on the market and an appraisal will be more required to address legal issues such as a mortgage application, the distribution of assets through an inheritance, etc.
However, remember that this does not necessarily have to be the case in all cases. Learn to value a property To begin your path as a real estate agent, learning to value a property is key; But the truth is that developing this skill thoroughly can make you stand out in your team or your autonomous real estate office can make a substantial difference compared to its nearby competitors. The result of the valuation of a property will depend on its purpose. There are many types of assessment taken into account for dozens of procedures with the most diverse objectives. Let's look at different types of valuation, the most common at the moment. Mortgage valuation This value of a property will be reached thinking about its durability over time. In Spain, for example, it is used by banking entities to grant mortgage concessions; In its context, it will guarantee financial stability, preventing any sudden changes to which the market could be exposed. Market valuation A single real estate negotiation is made up of several procedures. In the first instance, the real estate agent and the client must agree on a price “to be assigned” for which a potential interested party will be willing to pay and that covers the needs of the owner. This valuation is called “purchase and sale” and can be significantly modified by dozens of variables.