There are a number of steps that have to be followed before the ownership of a property is transferred from one entity to another. Valuation is one such process that is considered extremely important and also indispensable in many cases. If one looks around the various real estate purchases and sales, it is quite likely that there will hardly be any transactions that are completed without the properties being valued. Let us try and understand what the main purposes of valuation are before trying to find out ways by which valuation business can be improved.
The main purpose of any real estate property valuation is to have a clear idea about the fair market value of the property that is being bought or sold. Apart from the market induced rates, when it comes to buying and selling or for ownership transfer purposes, it is important to have the value of the property certified by a qualified and experienced valuer. Such a value has a legal sanctity and is therefore considered very important. Additionally, valuation reports also help in fixing the property tax payable and also to have a better idea about the stamp duty applicable.
Now coming to ways and means to improve valuation business, to begin with the valuers must understand that the market is becoming extremely crowded. Further the ways customers are buying products and even services like valuation has changed quite dramatically over the years. Keeping these facts in mind the valuers must find out new ways and means by which they can move their business from one level of success to another.
Towards this objective the first starting point is to network more efficiently and also to build better relationships. For this to happen today’s valuers must make more efficient and intelligent use of the internet and more particularly the various social networking sites like Facebook, Twitter, Linkedin, YouTube just to name a few. It is also very vital on the part of the valuers to have their own websites failing which they will not be able to expand their network. It also makes a lot of sense to take membership in chambers of commerce and other such institutions which will also help in better networking.