From NAR
Land valuation is a crucial tool that empowers various real estate stakeholders, including real estate agents and brokers, investors, developers, policymakers and the public.
The process of valuing a parcel of land involves a detailed examination of the land’s current and anticipated utility considering location, development potential, market trends, infrastructure, economic conditions and legal constraints. Understanding the process is essential for all these stakeholders, directly impacting their decision-making and financial outcomes.
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