Factors that may Impact on the Appraisal Price

Factors that may Impact on the Appraisal Price

When determining price it is also important to take into consideration all relevant information.

Here are some examples of what the Agent must consider:

Demographics of Prospects

Proximity to Transport and Shops

New Development

Educational Facilities

Employment Opportunities

Economic Factors – Interest Rates, Grants etc

Flood and Fire areas

Political Factors (GFC) which affected property prices worldwide

The impact from these events can have an impact on the Appraisal and is subject to change as time progresses and situations change. When viewing properties the Agent will need to take into account the Architectural and Construction Styles as well as all other relevant factors that could affect the Agents opinion of price in that days market.

Real Estate prices can fluctuate, in the past property prices have fallen and many sellers are having to sell for less than what they paid. Providing evidence to support your opinion becomes vital as this can effect the price in which the Owners will be expecting.