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Market Appraisal Contents

Market Appraisal Contents

Market Appraisal
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Purpose

This procedure contains the instructions for presenting market appraisals.

Procedure

All the required information for a Market Appraisal has now been entered into the system so you can now exit out of this screen and will now need to type up the MA in a word document.

Typing Up The Market Appraisal in Word:

  • Firstly, go to  the Market Appraisal Template
  • Open the new market appraisal
  • Enter the details in the gaps in the following format:

Mr D & Mrs J Smith

968 Main Road

YOURTOWN  VIC  3000

(The suburb and state must be in capitals and bolded)

Dear David & Jodie

Property Address:        (Property Appraised)

  • Fill in the gaps on the template version as stated on the Market Appraisal form given to you by the agent.

Some agents will often only fill in certain fields (Eg: comparable sales and not selling features or buyers or even perhaps comparable sales without descriptions).

If any of the fields are left blank or not filled in, we will assume that the agent does not want that included and delete that field or column or any additional dot points, where applicable from your copy.

NOTE – If you delete any columns from the Comparable Sales table always ensure that you do not have the actual table showing. To do so go to Format, Bullets and Shading, click on None and OK.

  • If anything has been removed or otherwise, always ensure that the spacing of the table and the dot points is neat, presentable and easily legible by adjusting spacing and width or columns etc. or adding a page break if the data on the 2nd page spills onto a 3rd.
  • When completing the final page (Professional Fees) there is are 2 options to either enter a number percentage for commission in the gap before the symbol, otherwise to state the commission percentage is negotiable. Once one is selected you must delete the other option from the template.
  • The Sales Manager to sign off on the final page of the report
  • Save Market Appraisal to data
  • Save the file as the property code which is the 1st three characters of address plus the 1st character of the R – road, S – street, C – crescent etc, followed by the street number ie; For 968 Main Road MAIR968. then the agent’s initials and the date. Eg; MAIR968.GB.25.05.2007
  • Print a draft copy of the Market Appraisal on plain paper and attach the original Market Appraisal input form submitted by agent and place it on the agents desk for them to check and make any corrections or changes.
  • Once the agent hands you back the draft copy of the MA, make any amendments necessary and either retrieve an MA kit from the stationary cupboard or print one out & add divider sections.
  • Now print out the Market Appraisal as follows –
  • 1st Page: Letter Print onto Our Company Letterhead
  • 2nd Page: Print onto pre-printed Estimated Market Worth page (included in the MA Kit) NOTE – if the data on the 2nd page is longer than a single page and spills onto a 3rd page, this page should be printed onto the follow on paper (purple shaded page with no heading included in MA Kit)
  • Final Page: Print onto Professional Fees page (included on MA kit)

  • At the start of each month Sales Secretary should print off an adequate supply of 3 additional pages that are required to be added to you MA and stock them in your stationary drawer. These pages are:

-Where our buyers come from graph

-The best address in local real estate

-Property Visits

The relevant month for this is whatever the previous month is to the one we are currently working in.

NOTE – For further instructions about how to obtain and update Internet hits refer to Realestate.com.au section of manual.

Land Map:

  • A land map of the appraised property will also need to be printed and placed in the bound Market Appraisal. This is obtained from the Real Estate View members website, under the PDOL Section.
  • Go to realestateview.com.au/members website and login (refer to passwords sheet)
  • Click on Search Sales Archive (PDOL) section
  • Click on Map IT and enter login (refer to passwords sheet)
  • Enter in the required fields the Property Number, Street Name and Suburb then click Search
  • Once map of property has been retrieved click on Print Property Details and a PDF version of the map will appear with some additional details
  • Print only the first page of this PDF document and attach to MA where stated below

       NOTE – For further instructions about how to obtain information from PDOL refer to REIV/                realestateview section of manual

Our Company requires that all Market Appraisal Contents be completed and inserted in the following order:

(A Master Copy of a completed, bound Market Appraisal in filed in Sales Secretary drawer for a reference)

PP = Pre printed pages already included in MA kit

Our Company= Individual pages typed by Sales Secretary or inserted from supply

Front Cover

  • Covering Letter – Our Company
  • Contents Page – PP

Section 1 – Introduction

  • Our Company – The Advantages – PP

Section 2 – Property Report

  • Estimated Market Worth (1 or 2 pages) – Our Company
  • Methods of Sale/ Auction – PP
  • For Sale By Negotiation/ Private Sale – PP
  • Land Map of property from PDOL – Our Company
  • Where our buyers come from graph ( as instructed above) – Our Company

Section 3 – Marketing

  • Advertising Schedule – Our Company (Where requested by the agent)
  • Marketing Campaign – PP
  • The Internet – PP
  • Property Profile – PP
  • Open For Inspections/ Presentation – PP
  • Tips For Every Home Seller – PP
  • The Inside of Your Home – PP
  • Solicitor/ Conveyancer – PP

Advertising

  • DVL Layout – PP
  • The Age Newspaper – PP
  • Leader Newspaper/ Melbourne Weekly – PP
  • Signage Boards – PP
  • The Best Address In Local Real Estate (as instructed above) – Our Company
  • Monthly Property Visits (as instructed above) – Our Company

Section 4 – The Team

  • Profile of Agent Completing MA – PP (brought to the front by you)
  • Testimonials – PP
  • Remainder of Team Profiles (beginning with directors onwards) – PP

Section 5 – Professional Fees

  • Professional Fees – Our Company

Back Cover (With Our Company Address/ Contact Details On it)

Print  Sales Archive Brochures from Realestateview:

( as per comparable sales on MA sheet)

Log on to www.realestateview.com.au/members

Refer to passwords sheet for log in details.

  • Click on Agency Sales Archive (REV)
  • Type in Street Name and then Number in boxes provided (you can do up to 3 at a time)
  • Click Search Historical Sales Archive
  • Click on the View icon for each property and then print out individual archive brochure
  • Once the first 3 are done, go back to the search screen as many times as necessary for all comparable sales listed
  • Place these print outs in front cover of bound MA (separate and unbound)

Binding:

  • Once all documentation are in their correct position you are ready to bind the MA
  • Place the front cover behind the back cover face up (as if you had turned the page over)
  • Section by Section place the spine of the MA in the binding machine and punch holes
  • Complete this process with the entire folder
  • Combine the document so that all holes are lined up and there is a clear passage through then glide the wire binding rings through holes to collate document
  • Market Appraisals should be bound in 8′ x 4′ or 9.5mm binding rings, so you must also ensure that the setting on the binding machine corresponds with this
  • After the wire has been threaded through, place the document in back section of binder and clamp, turn the front cover to front of document so that it is now a completed bound MA

NOTE – Most agents will require an envelope for the Market Appraisal, type a label with prospective vendor’s name and postage address and place on a large MA sized envelope. Do not seal envelope and hand to agent with bound MA, loose original copy (also field notes where applicable) and comparable sales print.