Mastering the Sales Comparison Approach in Property Valuations

Making Relevant Comparisons and Defensible Adjustments to Argue an Effective Case to Assessors

Recording of a 110-minute CPE webinar with Q&A


Conducted on Wednesday, September 14, 2011

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will prepare tax executives and advisors to evaluate the potential use of the sales comparison approach in a business personal or real property valuation and to present an effective analysis to a jurisdiction's assessors.

Description

Familiarity with the latest sales comparison approach techniques in valuing a company's business personal and real property is a critical skill for property tax professionals. Many assessment offices require a sales comparison calculation, which can present a solid indicator of property value.

However, there are many potential difficulties. If you can find data for other sales, what kinds of assets were sold in those "comparable" transactions? Do you have the data to make a complete and thorough adjustment? How should you treat intangible assets? Will statistical analysis be required?

A current-awareness briefing on the key fundamentals of the sales comparison approach and best practices for its application in today's market conditions can prepare your company to make an effective, defensible proposal to assessors on your business personal and real property assets' value.

Listen as our panel of experienced advisors explores sound application of the sales comparison approach in a corporate setting.

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Outline

  1. Steps in the sales comparison approach
    1. Elements of a comparable sale
    2. Application of statistical analysis
    3. Process of comparison
  2. Data collection
    1. Types, sources, geographic considerations
  3. Data verification
    1. Making adjustments to the sales comparison calculated
    2. Quantitative, qualitative and statistical analysis techniques
  4. Practical issues in the use of sales comparison
    1. How this approach compares with income and cost approaches
      1. Strengths and weaknesses
    2. Difficulties in obtaining comparable and verifiable data
    3. Key decisions in making adjustments
    4. Vexing issues such as treatment of intangible assets involved in a transaction
  5. Case studies of hypothetical properties

Benefits

The panel will address these and other relevant topics:

  • Pros and cons of a sales comparison vs. other valuation approaches.
  • Proper units and elements of an apt comparison of sales.
  • Sources of comparable data, and verification and selection techniques.
  • Fundamentals in a well-thought-out adjustment.
  • Intangible assets that are not deducted or booked in a purchase-price allocation.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

John Cocklereece, Jr.
John Cocklereece, Jr.

Director/Attorney
Bell Davis & Pitt

His practice includes handling local and state appeals of real and personal property tax values for business clients....  |  Read More

Larry Mott
Larry Mott

Consultant
Stancil & Co.

He has more than 20 years of experience in valuation and other engagements for the financial and energy industries,...  |  Read More

Robert Slavin
Robert Slavin
Owner
Assessment Counseling Services

He founded his state and local tax consulting firm in 1986 and has represented more than 3,000 cases before appeals...  |  Read More

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