Market value: Sales price for house & apartment

Let’s start with the 2 most important questions:

What does market value mean?

The market value is the price that can be realized in the ordinary course of business within the specified time frame in accordance with the legal circumstances and actual characteristics, the other properties and the location of the property or the other object of the valuation.

In 2004, the term “market value”, which is used throughout the EU, was added to the definition of market value in Section 194 of the German BuildingCode (BauGB). The market value is therefore an estimate of the price that can be achieved on the market. The market value is generally used for the sale and purchase of land and buildings. It may also be necessary to determine the market value in the event of foreclosures, tax assessments by the tax office, divorces and inheritances .

Where can I find the market value?

You won’t find the market value in a list, it has to be calculated using the typical valuation methods – more on this in a moment.

Determining the market value: How do you calculate the market value?

The market value assessment refers to the macro-location (city/region) and micro-location (immediate surroundings of the property) of the property, its section, size and any existing land charges that may reduce the value. In accordance with the BauGB, the market value is not a permanently fixed value, but refers to the reference date stated in the appraisal. It is possible that the market value may change significantly over a certain period of time.

The market value quantifies the value at the time of valuation. The market value appraisal takes the following points into account:

• Material value of the property, if developed
• Nature and location of the property (size, type of development)
• Legal circumstances (e.g. land register, monument protection)
• Other objects of the valuation

But:

In reality, however, market demand has a decisive influence on the value of your property.

The demand for real estate and the features sought vary greatly from region to region. Just think of A-locations such as Munich and Berlin, where the location plays a major role in the market value.

Documents for determining the market value

The following documents are generally evaluated for the valuation of real estate sales:

• Land register extract
• Building plans, floor plans, sections
• Building description
• Site plan and parcel map
• Calculation of living space
• Energy certificate

For condominiums, the following are also required:

• Minutes of the last three owners’ meetings
• Business plan
• Declaration of division (land register)
• Housing benefit statement

For income-producing properties, these must also be submitted:

• Operating costs
• Rental listings
• Rental agreements

Rights and encumbrances must also be viewed:

• Notarial deeds
• Special registrations (rights of way, residential rights, etc.)

Weighting of criteria for market value

Particular weight is given to the location and the expected future risks of the property. The risks are mostly modernization risks, such as the costs to be expected due to a renovation backlog. The most expensive maintenance measures, which generally include the roof, cellar, windows and heating, are also assessed. The type of house is also assessed. A building built before 1945 is an old building, after 1945 it is classified as a new building. The exterior design, floor plan, garden, façade, room layout and lighting conditions are also taken into account.

Factors such as location, balcony and attractiveness for the target group play an important role in the rentability of the property. Other factors included in the valuation are, for example, an elevator and the property’s fixtures and fittings:

• Plot area (proportionate living space or total area)
• Living space according to the Living Space Ordinance (WoFIV)
• Garage, underground garage, parking spaces (existing renovation risks)
• Basement additionally usable or e.g. renovation backlog in the basement
• Demographics for the property location
• Property type (commercial, residential, care, listed, other special forms, mixed property)

Valuation: 3 valuation methods

All important information on the valuation of real estate sales and the other valuation procedures clearly summarized for you:

Income capitalization approach: Breakdown into market value & building income value

The income capitalization approach divides the property into the market value of the land and the income value of the building. This includes rental income, maintenance costs and the costs of managing the land and building. The rental income less management costs and the land value including interest are therefore compared.

Material value method: Value for the new construction of a property

In the asset value method, the market value of the land is first determined using the standard land value, after which the building asset value is added. The real value of the building is calculated from the building production costs less any age-related reductions.

The tangible land value (market value of the land) and the tangible building value are added together and multiplied by a tangible value factor. The calculation of the asset value factor depends on the type of building, the provisional asset value and the standard land value. The total tangible asset value calculated in this way indicates the financial resources that would be required to rebuild the property.

Comparative value method: Comparison with similar properties

The comparative value method compares your property with similar properties. It is used in particular when selling condominiums and residential buildings. The comparative value can also be determined for undeveloped land.

Only properties in similar locations and with a comparable layout are taken into account in the comparison. The properties included in the valuation should be in the immediate vicinity of the residential property. The comparative value method is considered to be particularly realistic. It is often used to determine the value of properties, as the locations are relatively comparable regionally.

Valuate property

House valuation, apartment valuation, what do you have to pay attention to for a good sales price? You can find my tips here:

• Valuate property

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Becoming a trainer: Fields of action and examination

Here you will find everything you need to know! Get to know the fields of action of the AEVO exam and get practical tips for your final presentation with many examples and videos – all for free! Now in the Lukinski Masterclass:

• AEVO 1 – Check training requirements
• AEVO 2 – Preparing training
• AEVO 3 – Train skilled workers
• AEVO 4 – Completing training
• Presentation – example and concept

AEVO Questions 4 – Completing training

What’s at issue?

• Preparing trainees for the final and journeyman’s examination
• Registration with the competent body
• Reference to special features relevant to implementation
• Preparation of a written report based on performance appraisals
• Informing and advising trainees about in-company development paths and further vocational training opportunities

What is the legal basis for the audit of financial statements?

The legal basis for the final examination is derived from the Vocational Training Act, the training regulations for the respective training occupation and the examination regulations of the competent body.

• Vocational Training Act
• Training regulations for the training occupation
• Examination regulations of the competent body

Who is admitted to the final examination?

Admission is granted to trainees who have taken part in the intermediate examination, who have completed the written proof of training and who are listed in the competent body’s register of vocational training relationships.

• Participation Intermediate Examination
• Written evidence of formal qualifications
• Registered in the register of vocational training relationships of the competent body (registered)

What is checked during the final examination?

The final examination determines whether the apprentice has mastered the required professional skills, whether the necessary professional and technical knowledge is available, in short competence to act.

It is also determined whether the trainee is familiar with the subject matter of the vocational school.

• Professional skills
• Professional and technical knowledge
• Curriculum of the vocational school

Who registers the trainee for the final examination?

The trainer must register the trainee for the final examination.

Do trainees have to be released for the final examination?

Trainees, regardless of age, must be released from work by the training company for the day of the written final examination.

Young people under the age of 18 are also entitled to time off work on the working day immediately preceding the final written examination.

• Exemption for written final examination
• Young people additionally on the day before the final exam

What is the structure of the final exam?

The structure of the final examination is divided into a skills examination, a knowledge examination and an action-oriented examination, depending on the training regulations.

• Skills test
• Knowledge check
• Activity-oriented examination (depending on training regulations)

When did the trainee pass the final examination?

The final examination is passed if all relevant examination areas have been passed with at least a satisfactory performance.

• Passing all areas of the examination
• At least sufficient (4)

Read more in the Masterclass

You can find all the questions on “AEVO 4 – Completing training” here:

Now in the Masterclass: AEVO 4 – Completing training

AEVO questions: All fields of activity

All fields of activity of the instructor examination at a glance:

• AEVO 1 – Check training requirements
• AEVO 2 – Preparing training
• AEVO 3 – Train skilled workers
• AEVO 4 – Completing training
• Presentation – example and concept

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Now in the Masterclass: AEVO 2 – Prepare training.

Becoming a trainer: Fields of activity and preparation for the exam

Here you will find everything you need to know! Get to know the fields of action of the AEVO exam and get practical tips for your final presentation with many examples and videos – all for free! Now in the Lukinski Masterclass:

• AEVO 1 – Check training requirements
• AEVO 2 – Preparing training
• AEVO 3 – Train skilled workers
• AEVO 4 – Completing training
• Presentation – example and concept

Preparation for the training

• Draw up a training plan based on the training regulations
• Take into account the participation and determination of the operational interest representations
• Determine the need for cooperation, in particular coordination with the vocational school
• Criteria and procedures for the selection of trainees
• Prepare vocational training contract and apply for registration with the competent body

What is the youth and trainee representation?

The youth and trainee representation represents young people under the age of 18 and employees in vocational training (trainees, working students, interns) under the age of 25.

All employees under the age of 25 are eligible to vote. They are all also entitled to vote.

The “youth and trainee representation” may be established if there are at least 5 employees under the age of 18 and/or trainees under the age of 25.

• Representation of young people under 18
• Employees in vocational training under 25
• Foundations with at least 5 employees under 18 years of age or employees in vocational training under 25 years of age

What are the tasks of the works council?

The works council has participation rights but also co-determination rights.

The right to participate includes, for example, the right to be heard and the right to consultation. The right of co-determination includes, for example, the right of approval (e.g. of the training plan).

What criteria are used in the selection of applicants?

• Overall impression of the documents (compilation and care)
• Cover letter with or without interest in the training occupation
• Skills, previous experience and internships

What questions are not allowed in the interview?

Some questions do not have to be answered by applicants in principle.

When such questions are asked, it is even allowed to tell the untruth.

• Family Planning
• Financial situation
• Member of trade union or party
• Sexuality
• Health
• Religious affiliation
• Personal information of family members

Can the training period be shortened?

Yes, before the start of the vocational training, the training period can be shortened by the trainer due to certain requirements. These include, for example, the degree of academic training or previous vocational training. The shortening and justification is entered directly in the training contract.

During the training period, the duration can be shortened by an early final examination if the performance justifies it. For this, the trainee requires the consent of the trainer and the vocational school.

There is no legal entitlement to a shortening. The decision is at the discretion of the trainer.

• Shortening before the start of training
  Prerequisite: High academic degree, previous professional training
• During the training by early final examination
  Prerequisite: Very good performance.
• Legal claim does not exist

Can the training period be extended?

If the training objective cannot be achieved, e.g. due to a prolonged illness, failure to pass the final examination or parental leave, the training period can be extended.

• Prolonged illness
• Failure to pass the final examination
• Parental leave

How often may the final examination be repeated?

If the final examination is not passed, it may only be repeated twice.

The training period may be extended by a maximum of 1 year at the trainee’s request, until the trainee passes the final examination.

• Repetition 2x possible
• Extension of the training by max. 1 year

From when does the verbal job promise apply?

The commitment is immediately legally binding. The contract must be in writing at the latest at the beginning of the training.

• Verbal commitment is immediately legally binding

Learn more for free…

All questions about the block “AEVO 2 – Preparing training” can now be found here:

Now in the Masterclass: AEVO 2 – Prepare training

AEVO questions: All fields of activity

All fields of activity of the instructor examination at a glance:

• AEVO 1 – Check training requirements
• AEVO 2 – Preparing training
• AEVO 3 – Train skilled workers
• AEVO 4 – Completing training
• Presentation – example and concept

Der Beitrag Become a vocational trainer: AEVO questions 2 – prepare training (for real estate agents, craft & Co.) erschien zuerst auf ℄ Real Estates.

AEVO in the Masterclass (free of charge)

In my Masterclass you will find methods, strategies and hacks about online marketing, search engine optimization, content marketing, Photoshop and much more. Tips: buying guide. Now there is also the new special for professional trainers. I attended the preparation course, took the theoretical exam and was in the practical exam. What I learned? The preparation course is only half the battle (practice makes perfect) and just like in school, in the end you only need 10% of what you have learned in the exam. You can find all the questions here:

Now in the Masterclass: AEVO 1 – Checking training requirements.

Becoming a trainer: Fields of activity and preparation for the exam

Here you will find everything you need to know! Get to know the fields of action of the AEVO exam and get practical tips for your final presentation with many examples and videos – all for free! Now in the Lukinski Masterclass:

• AEVO 1 – Check training requirements
• AEVO 2 – Preparing training
• AEVO 3 – Train skilled workers
• AEVO 4 – Completing training
• Presentation – example and concept

Check training requirements

• Present and justify the advantages and benefits of the training
• Company training requirements based on legal, collective bargaining and company framework conditions
• Structures of the vocational training system
• Select training occupations for the company
• Check the suitability of the holding

The following questions represent a large portion of the teaching / exam content and should be mastered by every instructor.

Vocational training and dual system

What constitutes vocational training?

The shortage of skilled workers is present in many areas. Vocational training gives companies the opportunity to train staff based on their own demand planning.

The search for new personnel costs time and money, the hiring is associated with risks. Through targeted training in the company, risks are minimized for new hires.

Dual system, what does that mean?

The dual system refers to the separation of training company and vocational school in the Federal Republic. Both are involved in the training.

What does “permeability” mean in the dual system?

Permeability means that you can move up from one level of educational attainment to the next.

For example, trainees with a secondary general school leaving certificate can also obtain a secondary modern school leaving certificate during their vocational training.

What does personal suitability mean?

Basically, personal suitability means that you are allowed to employ children and young people as a trainer.

The requirement for this, you must not have been convicted of a crime (with a prison sentence of 2 or more years) or have repeatedly / seriously violated the Vocational Training Act. Furthermore you must not

The examination is carried out by the respective competent authorities.

What does professional ability to act / competence to act mean?

Occupational competence is the acquisition of occupational skills, knowledge and abilities that are required for the performance of the training occupation.

What does “professional competence” mean?

Professional aptitude refers to the proven ability to train in the training occupation.

Rules and regulations

Which law regulates vocational training?

The basis for all training occupations is the Vocational Training Act.

Other regulations include:

• Occupational Health and Safety Act
• Youth Employment Protection Act
• Dismissal Protection Act
• Works Constitution Act

Here’s another helpful look at the juxtaposition of the basics around law, statute, and content.

What are the training regulations about?

In the training regulations you will find information on:

• Designation of the training occupation
• Duration of the training
• Training objectives of the profession (skills, abilities and knowledge)
• Training framework plan (guidance on the factual and temporal structure)
• Examination regulation

What does “hierarchy of legal sources” mean?

The “hierarchy of legal sources” refers to the order of precedence of legal sources in the Federal Republic of Germany. First and foremost is the Basic Law.

This is followed by the laws of the parliament, laws of the state parliaments and so on. Accordingly, special agreements such as collective agreements or works agreements may not violate higher-level laws.

Training and goals

What’s your instructor goal?

As a trainer you want to fully impart skills, knowledge and abilities of the training profession.

Learn for free… go on

All questions on “AEVO 1 – Checking training requirements” can now be found here:

Now in the Masterclass: AEVO 1 – Checking training requirements.

AEVO questions: All fields of activity

All fields of activity of the instructor examination at a glance:

• AEVO 1 – Check training requirements
• AEVO 2 – Preparing training
• AEVO 3 – Train skilled workers
• AEVO 4 – Completing training
• Presentation – example and concept

Der Beitrag Become a vocational trainer: AEVO Questions 1 – Checking training requirements (for real estate agents, trade & co.) erschien zuerst auf ℄ Real Estates.

Submarket at a glance: Subdivision of the real estate market into subareas

• Division into: Residential, Commercial, Industrial, and Specialty Real Estate.
• Further breakdown of submarkets
• It is not unusual for submarkets to overlap

Back to the wiki: Real Estate

Der Beitrag Submarket in the real estate sector erschien zuerst auf ℄ Real Estates.