SUNBIZ

Give Right Property Price Assessment, Says Realtor

An important aspect of a real estate agent’s job is giving property sellers the correct assessment of a property valuation. This was highlighted by Jokhan Realtors real estate agent, Linda
09 Jun 2015 09:27
Give Right Property Price  Assessment,  Says Realtor
Linda Narayan.

An important aspect of a real estate agent’s job is giving property sellers the correct assessment of a property valuation.

This was highlighted by Jokhan Realtors real estate agent, Linda Narayan, during a training course.

She shared these views and her experiences during Fiji National University’s National Training & Productivity Centre inaugural three-day course on Real Estate Appraisal.

Ms Narayan has been in the real estate business for some 10 years.

She said as real estate agents, they are normally required to give appraisals or assessments on properties which vendors would like to put on the market for sale.

“In this course, we’ve learnt the specifics of how to accurately carry out details on various properties and of course to give better appraisals,” Ms Narayan said.

“It gives the knowledge to make more detailed and specific calculations, more accurate ones.

“Most of the real estate agents don’t have this knowledge; they basically come with a sales background, and not valuation background. But this is an integral part of obtaining properties for sale.

“Vendors want a higher sale price at a better price.

“But at the same time when I say better you have to give them the correct appraisal because if you do give them a false appraisal at the end the day you are making false statement.”

 

Participant reaction

Participant from BSP Life, Irene Delanimati Gibbons, said the course had elevated her understanding of property valuation and management.

“We come from a service background. We’re trade people. So in order for us to better appreciate how prices are determined, this course does it for us,” she said.

And with real estate business only being introduced in 1986, it was relevant that courses as such would help develop the industry which was evidently booming.

Another participant also from BSP Life, Raymond Quai Hoi, said: “We wanted to understand how they (valuers) come about their valuation.

The training was introduced due to the current booming real estate market.

The next scheduled session is expected in November at FNU Nadi Campus. However judging from the outcome of the first, it may be scheduled in Suva. The fee is $250 per person.

Feedback: ranobab@fijisun.com.fj

 

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