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Want to know how a proper reconciliation keeps your assets out of a sling? Unfortunately, it is too easy to find them in one. Too many people want your assets on a tray. Did you “kill” a deal? That real real estate broker wants your assets in a sling now! Does that homeowner think you did not give enough credit to that poorly-built wood deck in the back yard? She wants your assets in a sling! Your state appraisal board? It thinks appraisers can’t do anything right! So, stay off the state’s radar!
This podcast shows you five (5) ways a proper reconciliation helps keep your assets out of those slings! What’s just one example? Your reconciliation process forces you to go over your appraisal and report at least one more time. Maybe you’ll catch an error as your consider your reconciliation. Maybe a flaw in your logic and reasoning will stand out! Is there a convoluted sentence? A review prior to you reconciliation may help your catch it, then re-write it!
A proper reconciliation gives you a chance to fly your own flag, too! Don’t tell the client the sales in the report are the best around! Face it, if they weren’t, why are they in the report at all? Rather, explain why, of all the sales there were, you chose these as comparable and competitive substitutes for the subject. Your client knows you made adjustments to the comps. You don’t need to state that. It’s obvious! Instead, in the reconciliation, explain to the client what the market told you. Why and how did the market tell you the GLA adjustment was $93 per square foot? Detail how you coaxed that $6,300 garage-stall adjustment out of a rapidly increasing market. Chronicle to your client your extensive comp search.
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