During the valuation process, real estate agents compare homes to account for differences based on site, layout, condition, and unique qualities. This is called a property features adjustment. Currently, property features adjustments are highly subjective, even though there is plenty of data to provide a much more objective analysis.
Why is it important? Property features adjustments are an important factor in determining a property’s true market value. As we can see from the previous chapter, the price range of homes can vary widely, even when homes are of the same square footage. A major factor is the variation in property features.
Click Follow to receive emails when this author adds content on Bublish