The day continues today for the approximately 150 students participating in this new training event sponsored by the AEI, in virtual format.
SANTO DOMINGO.- Because the Dominican real estate market has been constantly changing lately, appraiser Claudia Castillo recommends renewing mortgage and market appraisals of properties every six months.
“I am referring to appraisals for banking purposes that are valid for six to twelve months, however, with how demanding the market is and with the changes, for example, if a person had an appraisal done six months ago, my recommendation is that they do it again.”.
The same suggestion applies to market valuations since areas change very quickly,” explained the experienced agent from Top Inmobiliario, while speaking last night to the group of students taking the CBR 01 certification, organized by the AEI, Association of Real Estate Agents and Companies.
Castillo reviewed with the audience the internal factors that influence the valuation of a property: the surface area, which implies square meters and distribution, number of parking spaces and additional elements; quality of construction materials.
Similarly, the property's location within the building matters; in the case of a building facing south and on high floors, and in the case of towers, the second floor being the most valued when it is a four-story building; the age and state of maintenance also influence the depreciation.
He advised aspiring real estate agents not to cling to clients who don't want to sell. "It's important to be clear about our role as guides; work with owners who want to sell and clients who want to buy.".
The veteran agent explained that no procedures should be omitted during the appraisal process in order to produce a clear and accurate report. "Supply, demand, and location are the three key factors in identifying the best and highest use for a property.".
Edgar Arguello
He discussed the topic of social media, updating participants on the various current platforms and their opportunities for use in the real estate market.
The day continues today for the approximately 150 students participating in this new training event sponsored by the AEI, in virtual format, with a primarily young audience.
