Our Process

Define the assignment

We begin with a discussion about the property and the decision the appraisal will support. We confirm the client, authorized users, purpose, property interest being valued and effective date of the opinion.

Together, we establish the scope of work, information requirements, timing and reporting needs. We identify any assumptions, limitations or special circumstances that could affect the investigation.

Inspect & research

Property inspection and existing information

We arrange an inspection appropriate to the assignment, documenting the site, improvements, condition, access and surrounding uses. We review available surveys, plans, leases and previous research or reports prepared for the property, considering their relevance, dates and underlying assumptions.

The property and neighbourhood

Our research considers the property's characteristics, ownership and transaction history, servicing, access and other interests that may affect value. We examine the neighbourhood, nearby development, transportation connections and competing properties.

Land use controls and economic conditions

We review applicable planning policies, zoning, approvals and development restrictions. Market research considers relevant economic indicators, supply and demand, vacancy, rents, construction activity and investment conditions as of the valuation date.

Analyse & value

Highest and best use

We assess the uses that are legally permissible, physically possible and financially feasible, and determine which supported use would produce the highest value. Where relevant, we consider the property both as if vacant and as improved.

Approaches to value

We select the approach or approaches suited to the property, assignment and available evidence, and explain our selection.

Cost Approach

Considers land value and the cost of improvements, allowing for depreciation and obsolescence.

Direct Comparison Approach

Examines comparable property transactions and adjusts for relevant differences.

Income Approach

Relates the property's income-earning potential to value using supported income, expense and investment assumptions.

Comparable evidence, inputs and adjustments

We research and assess the sales, leases, costs and other inputs relevant to the selected methods. We consider transaction circumstances and differences in timing, location, size, condition, property rights and development potential, explaining the adjustments and assumptions used.

Compensation, where applicable

For acquisition or expropriation assignments, we analyse the property interests affected, the value of land or rights acquired and impacts on the remaining property. Where included in our instructions, we assess other compensation components within our expertise and coordinate relevant inputs with legal counsel and other specialists.

Review & reconcile

Internal team discussions take place throughout the assignment, bringing together appraisal and planning perspectives where relevant. We examine the evidence, test key assumptions and review the consistency of the analysis.

We reconcile the indications of value, giving weight to the methods and evidence that best fit the property and assignment. Before reporting, we check calculations, adjustments and supporting material so the reasoning behind the opinion is clear.

Report & follow up

Our report explains the property, research, assumptions, methods and conclusions. Where a draft review is part of the agreed scope, we discuss factual questions and consider relevant additional information before finalizing it.

Report revisions address supported corrections, clarifications or new evidence while preserving the independence of the opinion. We explain material changes and remain available to discuss the completed report. Updates for a different valuation date or further negotiation, mediation or hearing support can be scoped as needed.