How To Think Like A Valuer

Compare like with like – Try and find comparables as similar as possible to the subject. These will be your beacon. 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 be in line with the definition of market value, and to be effective valuers must always try to compare like with like. It is important to note that listings are not comparables. A house may be listed for sale at whatever price the vendor requests. Valuers are not interested in what a property is listed for, only what it sells for. Comparables must be recent, local and as similar as possible to the subject.