7 Benefits of a Property Assessment Report

When you want to stand above other real estate agents, you need to be prepared with information about your potential client’s property and present a comprehensive strategy on how you’ll use this information to sell the property at the optimal price. Using a property assessment report can help you differentiate yourself from run-of-the-mill agents and grow your property listing. This post explores seven other ways this report can help your real estate business.

Knowledge of When a Home Was Built - Conventional wisdom used to be that you could get a higher price for newer homes than older homes. That’s not the case, generally, anymore because newer homes are constructed with inferior materials and built on smaller lots than older homes. When you know the age of the home you’re selling, you’ll understand the home’s weaknesses and strengths. If it’s an older home, you’ll understand that its sturdiness, genuine craftsmanship, and its larger lot are good selling points. On the other hand, if you know it’s a newer home, you may focus on the efficiency use of space because of the small lot.

Knowing the MPAC Assessed Value - Understanding the MPAC assessed value of your client’s home makes setting a price easier. As you know, the contracted price needs to come in or above the assessed value for the transaction to move forward. If your client wants to price his or her home above the assessed value, you can use the property assessment report to point out the places in your client’s home he or she needs to improve in order to get the price desired price. Having this information, will help you be an informed consultant.

Zoning - The property assessment report also helps you understand any zoning changes that have occurred or any proposed changes. If you have a client looking to buy property as a rental, you need to be aware of any zoning laws potential tenants could break. Also, make sure an area’s zoning laws haven’t changed from residential to commercial. Knowing the zoning laws will help you help your client from making costly real estate investment mistakes.

Square Footage - It’s common sense that your client ought to know the square footage of his or her home. However, many homeowners fail to confirm the right square footage and lose out on a higher selling price. If you see that the actual square footage is larger than reported, you can actually help your client get a higher assessment and a higher selling price.

Market Activity - A property assessment report can show you the overall market activity over a time. This can help you tell your client exactly what’s been happening in his or her neighbourhood.

Home Improvements - A property assessment report will list the heating system and number of rooms in the home. If you notice that your client has updated his or her heating system or added a room since the last assessment, you can get those upgrades changed on the assessment and get a higher selling price for your client.

Roll Number - Understanding the roll number helps you see whether several roll numbers cover one property or whether one property has more than one roll number.

A property assessment report benefits real estate agents in many ways. The next time you set up a meeting with potential client go armed with the information that will get that listing agreement signed.

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