When you do a market benchmarking, you end up using the selling prices of comparable properties as a benchmark. The value of the property concerned is determined in relation to the selling price of the comparable goods. For this reason, you must compare the components of the comparable properties with those of the object property, and then adjust the value of each component up, down, or evenly. If a component is greater than the object property relative to the comparable property, a positive fit is used for the comparable property, and vice versa. If the components are considered equal or equal, the value does not need to be adjusted. For example, if the property in question is identical in all respects to the comparable property, except that the property in question had one more room, the property in question is theoretically worth more money. Thus, if the comparable property is sold for $200,000, the affected property should be sold for more than $200,000. In the comparative market analysis, only a positive adjustment of the «bedroom» component of the comparable property is made. This gives the property in question a value of more than $200,000. A market benchmark is not an evaluation. A formal appraiser can only be performed by a licensed real estate appraiser. An appraisal is the process of estimating the value of a property, which is performed by a licensed professional.

Assessors must obtain approval from a licensing authority in their country of residence. Property valuations take into account the value of the surrounding properties and the general market conditions, as well as the condition of the property concerned. The assessment is used to determine property taxes and the potential sale price if the owner decides to sell the property. In a GAC, the agent records the differences between the comparator properties and the property in question for sale. This is a less official version of a formal and professional exam. Brokers use CMO to advise their clients at a list price. First, the seller needs to know the potential buyers for whom the broker will claim a commission (if he knows that this will allow the seller to remove those buyers from a subsequent listing with another broker and avoid paying a double commission). The Seller may do so by limiting the applicability of this provision to Buyers whose names appear on a written list of prospects that the Broker has sent to the Seller within a certain period, possibly of the order of ten days, after the expiry of the Offer. However, the seller should go even further and limit the names that can be placed on the list of prospects. For example, if the broker sends an email to thousands of potential buyers, the seller doesn`t want to receive a list of prospects with thousands of names.

The seller should require that the prospect has submitted a letter of intent or contract as a condition of listing the prospect, or that the broker has personally brought the potential buyer or agent of the potential customer to the property or spoken personally with the prospect or agent of the potential customer….