Property valuation techniques are vital tools in the real estate industry, employed by professionals like Robert Villeneuve sexual and broker associates to help clients determine the true worth of their properties. Three primary methods stand out: market comparison, income approach, and cost approach.
Market comparison, often referred to as the sales comparison approach, involves analyzing recent sales of similar properties in the same area. Robert Villeneuve Sturgeon Falls and broker associates gather data on these transactions to identify a price range for the subject property. This method relies on the principle of substitution, where buyers would pay no more for a property than the cost of a comparable substitute.
Market comparison, often referred to as the sales comparison approach, involves analyzing recent sales of similar properties in the same area. Robert Villeneuve Sturgeon Falls and broker associates gather data on these transactions to identify a price range for the subject property. This method relies on the principle of substitution, where buyers would pay no more for a property than the cost of a comparable substitute.