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Are Automated Property Valuation Methods Always The Best

Buying and selling a real estate Property Valuers Melbourne involves going through many steps and property valuation is considered to be one such step that is extremely important. Apart from buying and selling there are also other situations where valuations of property could be crucial. Whenever there is a need to calculate property taxes or value compensation claims the importance of valuation is very important. Hence there are literally endless situations where property valuation becomes inevitable and mandatory. 

Even today most of the property valuations are done using manual methods. However of late there have been many situations where technology is being used for making property valuation faster and perhaps even more accurate. There are many service providers who are offering online property valuation and also automated valuation of properties. This is very useful when you have large transactions to handle where manually going through the process could take lo of time. It has to be borne in mind the property valuation has timelines attached to it and therefore the onus lies of valuers to ensure that they meet these timelines at all points in time. 

While there is no doubt that some bit of automation is necessary, at the end of the day property valuation is a combination of both art and science. While the computers might help in figures and calculations when it comes to subjective areas of valuation there is no doubt that the manual ways and means still continue to be very relevant and perhaps even irreplaceable as of now. Here are a few such examples that are worth mentioning. 

Whenever a property is bought the customers takes into account various factors and inputs. It is not only the price of the property as quoted by the seller. In fact the buyer arrives at his own prices after factoring quite a few things. These include, the age of the property, location, type of construction and other such matters. In fact, a good valuation report coming from the stables of professional valuers does not depend on automated figures and valuations alone. They also mention quite a bit of other subjective information. They talk about the locality, its development, the availability of infrastructure and amenities and facilities. They also talk about the quality of people who are living in the neighborhood. Many of them also go a step further and come out with possible valuation figures of similar properties in the area. 

Hence, merely depending on automation alone may not serve the purpose of both the valuers and the customers.