How to Save a Lot of Time Writing Commercial Property Reports

Commercial properties are typically evaluated using a standard for commercial appraisal report writing software and reports that require a detailed assessment of the property’s existing features and qualities, as well as its drawbacks and deficiencies. The goal is often to show exactly how much the property is worth, not just in terms of its value as the “sum of its parts,” but also in terms of its income and investment potential.

 

When you evaluate a commercial property, it’s important to note that the report needs to cover a lot more ground than in the case of a regular, residential property appraisal report. You have to show how the property may fare within the niches that it could be used for (for example, the use of a large, factory-type building in various areas of production).

 

To save time, it’s important to have a clear outline ready and to use forms that are standardized. The use of an online, cloud-based appraisal service or platform that already provides all the forms and templates you need for your appraisals can be a great asset. With the use of these types of platforms, modern day appraisers can not only save a lot of time and energy, but also ensure that all their appraisals are done right and all the most important details are being covered.

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Why Would a Web-Based Commercial Real Estate Appraisal Be More Efficient?

Just about everything these days is done through the internet. From buying houses to ordering groceries, you can do a lot just by sitting at home with the laptop close by. But are web-based real estate appraisals just as practical? Or should you rather consider a regular commercial appraisal service?

 

As a property appraisal, this is probably not your first time learning about web-based commercial property appraisal. However, in the past the technology and the options available were limited at best. These days, you can consider a dependable and highly advanced online property appraisal platform that will provide you with all the resources you need to build any type of commercial property appraisal without having to write everything yourself or keep track of all the details without any help.

 

Online property appraisal platforms come with cloud-based options for storing and managing appraisals, and have a very simple learning curve. They are also highly secure, and often provide you with a plethora of different online forms that you can just complete to obtain a full commercial property appraisal within minutes.

 

The great thing about most of these platforms is that they are entirely cloud-based, so all your data will be stored remotely in the cloud. This means you can be on the move, and still have full access to everything using only your smartphone or laptop.

Check out the newest in appraisal writing software at https://reportbuilderpro.com/.

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What Are the Most Helpful Tips for Outlining a Commercial Property Appraisal?

A commercial property appraisal is basically a comprehensive process for evaluating how much a commercial property might be worth. The appraisal itself is written by a professional commercial property appraiser (yourself), and should include a variety of information regarding the property, the accurate value of its various amenities and features, and a host of other important insights.  Having the latest commercial appraisal report writing software is an advantage along with a huge time saver.

 

One of the main items on the list, when it comes to figuring out what to add to a commercial property appraisal, is a comprehensive comparison with similar properties found in the same geographic area. As an appraiser, you have to make sure you cover this topic and outline how the property fares in comparison with similar commercial real estate buildings.

 

Another important element is the cost, which will usually be evaluated based on the value of the materials and features added to the property, as well as their age and their utility. There is even a cost-based and a utility based approach to commercial property appraisal writing, which tackle the issue from two different viewpoints: how much the building is actually worth as a real estate property, and how much its investment potential might be.

 

Ultimately creating a practical property appraisal is all about the ability to build a detailed outline that covers all these topics and issues and forms them into a complete, easy to read appraisal that anyone might understand quite easily.

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How to Write a Truly Great Commercial Property Appraisal

Although commercial property owners are usually more professional and knowledgeable than most homeowners or people dealing with residential real estate, choosing a convoluted writing style and lots of complicated words will not help you get your point across. When writing a commercial property appraisal using software by ReportBuilder Pro, it’s important to follow these simple steps and guidelines, if you want the best possible results:

 

1. Write with your audience in mind. Before even starting to write your appraisal, it’s important to know exactly who you’re writing for and what their level of experience with real estate concepts and jargon might be.
2. Limit the specialty jargon. Even if your audience is fairly familiar with real estate, reading an appraisal with a lot of real estate jargon in it will be almost like reading a document in a foreign language that you can barely understand anything from.
3. Use active rather than passive phrases. While passive writing styles might work well in some cases, you won’t get anywhere with it when trying to communicate your point to a business owner who manages a commercial real estate property. An active writing style is much closer to home and will help you communicate the information you want to convey through your appraisal far more efficiently.

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Commercial Real Estate Changes for 2020

2020 is likely to bring lots of transformations for the commercial real estate segment – here are some of the trends to prepare for:

• The increasing important of the tenant’s experience – the changes are likely to be shaped by the expectations of the tenants and the customer experience and as a result, more and more organizations are planning to step up their investments into tenant experience, such as IoT systems, AI and other advanced features;
• Location – while the availability of advanced technologies, such as the above-mentioned IoT has resulted in the shift from the importance of location, the area and the neighborhood where the commercial real estate is located is still a decisive factor;
• The demand for office space is likely to stagnate – based on the data collected for previous years, the office space sector has not kept the pace with the other segments of the commercial real estate market;
• Investors still find commercial real estate to be safe and reliable for investments – the opinions of the major players on the market have significant influence over market trends and they currently are of the opinion that the investment into commercial real estate is among the safest ways to make your money work for you.  Be sure to check out the commercial appraisal software reviews for all appraisal software you purchase.

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The Modern Era of Mapping and Its Importance to Real Estate

Mapping is the process of creating maps of a specific region, area or land and a process that nowadays rarely uses traditional methods such as measurements performed with mechanical, manual tools. The development of technology has led to the development of many new tools and devices used for mapping purposes and as these tools and devices spread from being used only in cartography to being used in numerous other fields, the deployment of technology has reshaped the way that mapping is performed for real estate delimitation and appraisal purposes. Here are the new systems and devices that are nowadays extensively used for making the mapping for real estate purposes more accurate:

• GIS (Geographic Information System) – the system enables real estate companies and other types of organizations that offer commercial real estate appraisal software to integrate data from various resources and to create interactive maps that communicate and share information, to mention just two of the most important roles fulfilled by these complex systems;
• Drones – these unmanned airborne vehicles are nowadays extensively used for recording images of properties. The images are then interpreted and transformed into maps through another advanced technique, Photogrammetry. The high-quality images recorded by the drones over a specific plot can also be used for creating accurate 3D models of the plot.

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Commercial Appraisals and the Need for Reliable Comps

Comps, also known as comparables is a term used in real estate appraisals and it refers to the properties that have features similar to the property that is being appraised. Comps are identified by the real estate appraiser or by the surveyor using special methods as well as through market analysis and they are relied on to establish the value of the property being appraised.

Comps being an essential component of the final value estimate, their reliability is critical for the correctness of the final figure, that’s why experts use multiple factors when determining them:

• Physical comparability – comps are evaluated in terms of condition, size, age and quality;
• Market condition – also called time adjustment, this type of evaluation looks at comps from the point of view of how their prices change over time;
• Conditions of sale – comps are being evaluated in terms of sales transactions that have taken place recently;
• Financing conditions – comps are also evaluated based on financing terms that influenced the transaction in order to allow the appraiser to adjust the calculations and to determine the appraised property’s value correctly and accurately.  Using a new commercial appraisal software can help the appraiser to be more accurate and include everything necessary to give a precise appraisal.
• Locational comparability – the comparables are also evaluated in terms of the similarity of the location characteristics.

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