Here's how you can navigate complex valuation challenges as a real estate appraiser.

This approach compares the subject property to similar properties (comps) that have recently sold in the same market. Appraisers consider factors like size, location, amenities, and condition to adjust the comps' sale prices and arrive at an estimated value for the subject property.

Navigating appraising complex properties as a real estate appraiser begins with a solid grasp of the fundamentals. Without this, you will not succeed as an appraiser regardless of the complexity of the assignment. A thorough understanding the three property valuation methodologies (the sales comparison approach, income approach, and cost approach) is crucial when valuing complex properties across diverse market conditions as a combination of the approaches to value may be necessary. Geographical competency is also key when accepting any appraisal assignment.

Il est essentiel de collecter des transactions immobilières de biens comparables et de les analyser en mettant en évidence celles qui présentent des caractéristiques similaires au bien évalué.

The market value of the property is directly tied to the current market conditions and trends. If your market analysis is not thorough or has errors, then it can have a real impact on the opinion of value for a property. It is important to consider all market data that might be relevant to the property in your analysis and present this information in your appraisal report to support your opinion of value. Appraisers report the market, we do not predict the future market.

No two properties are exactly alike, but unique properties can present an additional challenge for appraisers due to the lack of similar comparable sales. You may need to increase your search area, look further back in time, or modify other criteria to find unique properties as comps for the sales comparison approach to show the market acceptance for unique properties. Additional market analysis is then necessary for the markets where the comps are located if they are outside the subject market area. The cost approach may be the best approach to value for some complex properties when there is a lack of sales for unique properties.

Part of developing the opinion of value is to determine a property's highest and best use. Legally permissible use of a property is one of the questions when determining highest and best use. It is important for appraisers to verify the zoning of a property as this can determine whether or not the structure can be rebuilt if damaged or destroyed which can affect the financing of the property. Local building codes can also limit the legal use of a property as can neighborhood covenants. It is important to consult with your local community planning & development office (aka building department or zoning office) to verify a building's use if you are unsure (whether or not ADUs are allowed, ranges in basements, etc.).

There are many advanced software and data analytics options available to appraisers which provide access to comprehensive property databases, historical sales records and provide statistical analysis. Using these tools can improve your efficiency as you process large amounts of data. They can also provide visual support by way of charts and graphs that you can add to your appraisal reports to help the reader understand how you reached your final value conclusion.

While appraisers present a large amount of information in an appraisal report, it is important that the report be readable and understandable by the intended user and that enough information is presented for the reader to understand how the final opinion of value was reached. Avoid excessive and unnecessary jargon, offer explanations of the data included (and what was not included & why it was not used) and summarize your findings in a way that is easily understandable. Communication with the client throughout the process is also key so they are not surprised by any delays or issues with the appraisal which may delay closing.

Algunas ideas adicionales: - Presentación y rigor profesional: Presentar informes de tasación completos, con transparencia y adecuados al conocimiento y necesidad de nuestro cliente. Apoyar la presentación con gráficos y claridad del momento de mercado. - Apoyo profesional: Cotejar nuestro punto de vista del mercado con el de otros profesionales expertos en el mercado objeto de nuestro análisis. (Generar una red de valores de cierre)