Real estate agent are usually only given the power of a special agency in order to sell one property. D.C. Members are required to re-certify every 5 years. The valuation of real estate using acceptable methods. The value that is estimated must be well defined within an appraisal report. Loan value, market value, and replacement cost value are only a few of the many values of the same property that could be estimated.
Market value is the most often estimated.
The sales comparison approach, the replacement cost new approach and the income approach are commonly accepted methods used to estimate the market value real property. Appraiser Real estate appraisers are required to be licensed at the state government level. Arbitration An agreement to resolve disputes that occur between real estate buyers and sellers outside the traditional justice system is being adopted by many real estate agents by including standard arbitration agreement in contracts. Parties who agree to arbitrate can reap the benefit of having their dispute settled quickly. The process is also typically less formal than the courts.