Nelson Real Estate

Dummies Guide to The Real Estate Appraisal ~ Part II

In marked difference to prior times, clients must now acknowledge receipt of this appraisal / estimate form and the relevant commission to be charged, by signing a form stating so.

Auctions / Tenders……..I can see where some issues could arise here re interpretation of the new 2008 ACT.

This new added emphasis on the Appraisal, to my way of thinking, is a great thing though.

In many parts of life today, we get the chance to test drive an item, certainly a car, or view that new 46 inch LCD TV at the retailer.

However with Real Estate, sometimes we have our friends or family to help and they may nominate someone with whom they’ve had a great experience, but someone we’ve not only never met, let alone ever heard of.

The crucial fact here is to realise the generational factors at play. Yes ~ you know this person and they have given you an experience that you are not unhappy with.

But now come from your parents mindset……if you are to be true to them ~ timeframes aren’t measured in twitter moments ~ its more of a definite timeframe thing.

And that timeframe thing ………that worked fine / communication wise for your parents may not be where your expectations lie.

Nevertheless as life teaches us, what one person experiences is certainly not always a duplicate experience for someone else …..even given practically identical circumstances.

In one way that’s been one of the biggest benefits of the Internet, the abilities for owners of products or experiences, to inform the masses of their personal experience, be that in a positive or negative way.

So here in lies the fact that with an appraisal.

What attention does the potential seller of your most expensive asset, your home, give to your property?

Is it a just couple of basic “cut & paste” paragraphs or does it appear that they have taken the time to detail parts / sections / items in/on the property.

Then have they put there thinking cap on, and gone on to state how those specific items will translate/relate (read the word “target” here) to either your homes potential or equally as important …..things that would appeal to a particular buyer demographic?

Does that matter?

Conclusion coming in Part III