In declining markets, this is building in a resale loss. Furthermore, when extended marketing time is offered to the transferee, there is an increased risk for seasonal changes or economic changes in the marketplace. Also, he discussed the reduced showing activity associated with extended marketing time in which the first 30 days typically have the highest amount of showings, including agents previewing the property. Since a commission attracts real estate agents, it is only natural they will be attracted to a home that is listed right. Otteau's concluding remarks discussed the value of appraisals.
Appraisers are uniquely qualified to satisfy the complex needs of relocation.
The relocation program design will greatly influence the program's results. It is important to understand the differences between various appraisal methodologies, most notably, the BMA versus the relocation appraisal. Otteau cautioned corporations to analyze alternative valuations carefully, and education, communication, and cooperation are critical.