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How do valuers come up with their valuation? Valuation methodology for pricing a house? : property tips

http://www.mortgageseek.com.au/blog/2011/03/18/property-valuation-how-to-think-like-a-valuer/

 

Property Valuation: How to Think Like A Valuer

YourMortgage.com.au | 18-03-2011

Property assessment is not a science beyond the realms of the average investor and while valuers make it their business to know the ins and outs of their markets, a few simple principles can help you ensure that you’re on your way to paying the right price for the right property – right from the get go.

Be realistic and objective – Don’t let your heart rule your head. This is business. After methodically processing information to assess a figure, they will sit back and ask themselves objectively “Do these figures fit what I know about the market?”

Research your market –Take your time, talk to local agents, go to auctions and jump on the Internet. Informed decisions pay off. The computer age is a boon to property valuers who can now access online databases to gather everything from copies of the title and registered plan to the purchase and sales history of the subject. The more information you can gather before leaving your chair, the easier your job will be.

Carry out a thorough inspection – Measure the homes dimensions, turn on the taps, look at the stumps and walk the boundary. Look for every positive and negative you can. A valuer sees your house as three interrelated components that make up the property as a whole; the land, the house and the site improvements, or ancillaries, such as landscaping, fencing, pools and the like.

Seek independent information – Estimated projections on rising values and rentals from the organisation selling you the property are worthless. Seek actual information from local independent professionals and try to substantiate any information yourself.

Position, Position and what was the other thing? – Never ignore the basics. If it’s on a train line or next to an arterial road, it will be trouble. Look at the surroundings.

Compare like with like – Comparables are other properties that have sold in the market, which will provide a reliable indication of what buyers are willing to pay in a particular area for a certain type property. To be dependable, comparables must not be looked at for the price it is listed for, only what it sells for. Comparables must be recent, local and as similar as possible to the subject.

Think like a local – If everyone in the street wants lock up car accommodation, make sure the subject doesn’t buck the trend. Check out what the locals want in the area.

Watch for overcapitalisation – A half court tennis court may seem like a good idea, but unless the owner is raising a Hewitt, most buyers will find it next to worthless. Be honest about what an improvement really adds. However, take note of a home’s extra items such as air conditioning, built in wardrobes, security features, ceiling fans and fireplaces. It’s those little added extras that can give a house a step up on the neighbours in the value stakes.

Think Land, Dwelling, and Ancillaries – Breaking down the property into its parts can help you see the whole. Firstly how does the land compare? Look at land size, location, frontage, elevation, ease of access, views and aspect. Consider if there could be any drainage issues. Think about the desirability of the street and the appeal of surrounding land uses. Would the local market, in general, rather live on the subject allotment or the comparable allotment?

Use recent comparables – If you’re using sales from a year ago when the market was booming, you are relying on false evidence. Now that the valuer has thought about each of the comparables components in relation to the subject, they can answer the overriding question – would the market, in general, believe the subject is inferior, similar or superior to the comparable as a whole. If the comparable sold for say $300,000 and the analysis suggests it is inferior, then the subject is most likely worth more than $300,000.

 

Tags: Typing, Outsourcing, Transcription

Do you have a backlog of typing and just wish you could put the time aside to get it done? Maybe you keep putting it off because you are so busy with your other business requirements or simply because you don’t like typing.

Get your work returned on time and to a high standard.

Just a few benefits of outsourcing your typing are:

 

• Flexibility
• Frees up your time
• You only use us when you need to-work can be a one off project or an on-going service
• You will only pay for the work you need typed up
• There are no hidden or retainer fees
• Relieves you of employment regulations
• No need to pay National Insurance, holiday pay or sick pay
• No other costs involved in employing a full time typist or secretary.
• Saves you time finding and training temporary staff.
• Available if you are abroad on a business meeting
• No infringement on your office space or office equipment
• 24/7/365 access to a typist
• Safe and secure file transfer system

 

Real estate agents in Brisbane - Live Virtual Assistance Sales service

Live virtual helper, assistance at cost effective prices.  Brisbane real estate agents have long been aware that having assistants to do most of the running around can take a load off your time and allow you to focus on the job that brings in the income - making sales.  

Have you ever considered having a virtual assistant to take your calls on the properties after hours, a live helper and someone who can arrange the meeting over the phone, receive phone calls from the advertisements, where you can have a line that is answered by a real person and not a voice mail, recorded service or call paging system.

Whether your in Ipswich, North of Brisbane, South of Brisbane, Western suburbs or Bayside you can use our services to enhance your real estate business practices.  We have virtual staff avaiable for outbound and inbound call centre work.

Click the contact us button in the top right hand corner (about us) to contact us and find out more information about the virtual assistant and PA services we offer at cost effective rates for your realestate sales practice.

 

 

Commercial Property Jobs in Sydney. Do people still advertise to type valuation reports?

 

Commercial Property Jobs Sydney are still available through the various agencies however, Theres a hard way and an easy way to do things as the following article explains.

Commercial and industrial property vacancies, commercial property valuer, valuation reports typists, seek.com.au, monster.com.au, jobs in melbourne, construction jobs, commercial valuations report typist, vacancies, secretarial services,  real estate and property, valuation, valuers, industrial, retail, office, leasing, sales, roles, outer melbourne, bayside, bayside suburbs

Sydney, Australia|  Quite often people take the hard way and the easy way and sometimes, advertising and going through Sydney based recruiters for what are quite simple outsourced jobs is definitely taking the hard way ...and so 2007!.

  The current going rate for valuation report typists in Melbourne seems to be between $20 and $24 an hour.  

Property valuers know that the industry is plagued with an extremely unreliable work flow, valuers have to keep going out on the road, pounding the streets to market themselves yet they are bogged down with other aspects of the industry.  It becomes a no win situation if the valuer is typing their reports themselves.  What do they do?  The valuation firm goes down the path of recruiting through an agency, paying high fees and then taking on a new person to sit there idle during the downtime of work because no one did any marketing, the clients have provided no work and to much time was spent on recruitment!

UGGGGH...forget all that.  Keep things simple guys.

..  Firms need to be able to have staff at their beck and call and use this to manage the work flow and ultimately expenditure. 

Whats the solution to typing / administrative fixed costs of wages? the increased commercial leasing area taken up by a staffers cubicle and other consumable costs?

The answer is SIMPLE.  Outsource your full or in part - typing functions.  Get your typing arranged on an adhoc payment basis ie. you only pay for what you use, you dont pay for someone to be sitting around the office chatting to other staff or online stealing your bandwidth downloading music, facebook or worse still pornography in the office and you get a proper, well timed and smoothly running office typing reporting system setup.

You will definitely notice to benefits of outsourcing your administrative functions.  Our business specialises in all areas of property administration including valuation, commercial industrial and retail valuation reporting etc

 

 

 

Commercial Property Jobs Melbourne. Theres a hard way and an easy way to do things

Commercial and industrial property vacancies, commercial property valuer, valuation reports typists, seek.com.au, monster.com.au, jobs in melbourne, construction jobs, commercial valuations report typist, vacancies, secretarial services,  real estate and property, valuation, valuers, industrial, retail, office, leasing, sales, roles, outer melbourne, bayside, bayside suburbs

Melbourne, Australia| It is often said that there is a hard way to do things and an easy way.  Take for instance the fact that a lot of firms still openly advertise for job vacancies.  This is so 2007!  The current going rate for valuation report typists in Melbourne seems to be between $20 and $24 an hour.  

Property valuers know that the industry is plagued at times with "when its raining (reports) its raining and when its a drought its a drought" ..  Firms need to be able to have staff at their beck and call and use this to manage the work flow and ultimately expenditure. 

Whats the solution to typing / administrative fixed costs of wages? the increased commercial leasing area taken up by a staffers cubicle and other consumable costs?

The answer is SIMPLE.  Outsource your full or in part - typing functions.  Get your typing arranged on an adhoc payment basis ie. you only pay for what you use, you dont pay for someone to be sitting around the office chatting to other staff or online stealing your bandwidth downloading music, facebook or worse still pornography in the office and you get a proper, well timed and smoothly running office typing reporting system setup.

You will definitely notice to benefits of outsourcing your administrative functions.  Our business specialises in all areas of property administration including valuation, commercial industrial and retail valuation reporting etc

 

 

 

commercial property opportunties in brisbane, sydney, melbourne, adelaide and darwin.  Jobs online in commercial real estate and construction.

Home based business owners - cost saving methods for small sub contractors and businesses

 

Ways to cut costs.  How to cut costs and other questions are often asked by home based business owners.  One of the advantages and disadvantages or key benefits that make or break your startup company from home is to reduce your overheads.  Not only do government charges and taxes take up a lot of time to administer and setup costs involved, the costs of utilities and staffing take also a considerable chunk.

There is a way to build your business and focus on the fees rather than worry about the variables of having administration staff constantly busy, worse still sitting around with no work to do while you are out slogging on the road generating clients without guarantee of work coming in the door.  This is a no win situation where overheads are mounting daily and client work has yet to arrive or submissions to get on panel work, recommended business listings are waiting to arrive.

The leasing costs associated with rent can easily fund that new car or holiday each year or go into the business cash kitty.  

Here are some small business ideas on how to  on how to save money in the startup and every month thereafter:

1) Avoid office supply stores when you can.  In many cases, the largest volume materials that you will need are available at discount warehouse locations like Office works (getting a business account where you can order online and have 30 days return policy).

2) Jointly buy product together with other business owners you know.  A great example is to purchase multiple “software licences”  at discount rates instead of everyone buying an individual license.  Great for things like accounting software where you can get 5 licences for the cost of 3 individually purchased licenses.   You may want to consider sharing your RP Data licence fees if you are a property valuer for example.

Just be sure that you have agreements about the software as to who holds the original copy and privileges.

3) Buy secondhand office furniture.  New office furniture loses about 25% of its value as soon as it leaves the showroom floor.  Shop auctions or business close-downs to find even better savings.  

When you see a going-out-of-business sign, stop in and see if the owners have any office furniture or equipment that they want to sell.  Be aware however, that when you purchase such things, you are buying it “as is”.  There are no warranties and if it stops working in a week, chances are you aren’t going to get a refund.

4) When you buy product, shop for local vendors that you can pick it up instead of having it shipped.  Shipping product can cost you a small fortune and then there’s the dilemma of having someone available to receive the shipment.   

5) If you use a particular product but are limited in your purchasing or storage power, ask if you can get the bulk price if you commit to ordering a certain amount in a year.  If this agreement is not acceptable, consider asking if you can purchase the volume amount at the volume discount and simply have them store it for you so that you can pick it up piecemeal. 

6) Shop for your insurance every year.  If you automatically renew, you can sometimes get caught up in some very big price increases.  Some insurance companies offer low prices the first year as a bait and then raise the cost when the first year expires.  They know that most businesses will stay right where they are at for several years.  Changing insurance companies is a pain, but it’s one idea that can save you a ton of money.

7) Go to trade shows and buy there.  Both products and services companies will sometimes offer deep discounts to show attendees if they buy right there.  This can even happen with publishers where you may want to advertise.

8) Network with other small business owners for the purpose of bartering and trading products and services.  

Be very sure that you have this agreement in writing and what the respective costs of products and services are valued at.  Hopefully it won’t become a legal issue.  But if it does, an agreement that spells out the value will be necessary in asserting your rights.

9) Always ask for a better price.  The worst you will hear is ‘NO’.  But you certainly won’t get it unless you ask.  You might be surprised who will give a better deal including places where everyone buys off-the-rack. 

10) Ask suppliers to discount invoices if you pay by check instead of credit card or if they can offer you an early payment discount.  Sometimes, suppliers are in a cash-crunch position and really want the money badly to cover their costs.  If so, they might be inspired to offer some deep discounts.

11) Staffing costs:  have functions such as typing, telephone answering, dictation and general uploading and downloading of information to the internet, data entry, SEO functions and web design outsourced.  A good place to start is this blog and get in contact with the owners here.

We provide a world wide service - we work online providing virtual assistants to businesses. To contact us click here

 

Perth Typist Hire | Melbourne Typist Hire | Sydney Typist Hire | Brisbane Typist Hire | Typing Services for property professions.

Melbourne, Australia | We specialise in property professions such as Valuers and Engineers, Town Planners and Quantity surveyors producing high quality documentation and reports.  Fast, reliable service at a cost effective price.  Deal with a person that has worked in the Property Industry rather than a stock standard typist.  There are many advantages to outsourcing your administration and typing functions in your business.  Let us take control of outsourcing your typing and hiring of secretaries on a part time basis by looking at your report writing flow and getting the work done.

 

Report typing services - Property Valuation Reports typed - virtual typist services

For our main blog please click on the following link:

http://reporttyping.typepad.com/blog/

 

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Application for registration to the Australian Property Institute Reports

Mortgage Security Valuations in Property Pro Format typed by our team

Property pro reports typed.  Residential mortgage security valuations?  Looking for a secretarial service that types on a per job basis?  We work alongside property valuers online to get your jobs done promptly and accurately.    Fast and reliable typing services for your residential valuation reports.

temp | hire | secretarial services | outsourced | typing | typist

Outsourcing your hiring to a temp typist online has 3 main benefits for your business.  You will kick yourself for not doing it years ago.

Increased Revenue; lets face it, your professional and hourly rate you are charging your clients is say $180 to $250 per inspection?  As a building and pest inspector, engineer, property valuer or similar property related professional it is ludacris to try and be doing your own typing or hiring a full time person to be sitting around in the office day in day out waiting for work flow to come in.  Outsourcing your typing allows you to concentrate on your core buisiness, whether it be doing commercial, industrial and residential valuation reports, building construction inspections for engineers and quantity survey reports.  You may be a good two finger typist but a well oiled typing pool can produce jobs without you having to stress and the mathematics of having a small outlay per report for typing when you compare with the fees you charge makes sense to have your work outsourced.

Access to a specialist - Yes, being a competant two finger typist can get up to speed but having a seasoned working team handling your typing of building inspection reports, valuation reports, audio transcriptions etc cost effectively far outweighs trying to do it yourself.  The mathematics from a purely commercial point of view are like chalk and cheese having someone who is available to type the reports quickly, reliably and cost effectively.

No Ongoing commitment thats right, we work on an adhoc basis and work to a per job payment system.  You therefore only need to send through and get charged for what work you send.

 

To contact us click the following page link for details.
http://reporttyping.typepad.com/blog/contact-us.html