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Real estate agents and home appraisers use comps, among other things, to determine home values. In real estate, comparables — known as comps for short — are one of the most important tools ...
[2] [1] Through BPOs, real estate professionals can improve their skills in property inspection, market knowledge, evaluation, and property pricing. [6] At a price of US$30–$100 per BPO, [5] the work can provide side income or steady income for real estate agents. [1] Agents may also create working relationships and a rapport with financial ...
The real estate professional will consider comparable homes, the home’s age, the size of the property, zoning requirement and the property’s condition to determine the BPO. ... but one often ...
A real estate appraisal is like any other statistical sampling process. The comparables are the samples drawn and measured, and the outcome is an estimate of value—called an "opinion of value" in the terminology of real estate appraisal. In most statistical sampling processes, a single best estimator is sought. However, since real estate ...
The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...
SRES (Seniors Real Estate Specialist): Completed training aimed at helping buyers and sellers aged 50 and older RENE (Real Estate Negotiation Expert): Completed additional training in negotiating ...
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