Questions to Ask When a Comparable Sale Needs Adjustment

Ask why this sale was selected in the first place

Before discussing an adjustment, establish why the sale is comparable. Is it the same property type, similar land or floor area, similar accommodation, a close location or a recent result? A sale chosen only because it is nearby may be weak if title, condition or buyer audience differs materially. The appraisal should identify the feature that makes the evidence useful.

Ask what alternative evidence was considered and why it received less weight. This prevents one convenient high or low result from controlling the opinion. Where comparable evidence is scarce, the agent can say so and explain the compromises. Limited evidence should produce visible uncertainty, not a confident formula that hides the lack of close matches.

Ask whether the difference is verified or assumed

Marketing descriptions can indicate renovation, parking or room count, but they may not prove approval, measured area, title rights or condition. Ask which source confirms each material feature: the sale record, title, plan, property inspection, planning report or another reliable document. Mark anything inferred from photographs or old copy so the seller can see the confidence level.

This is particularly important for views, separate studios, development claims and unusual land. A sale advertised with a 'home office' does not establish lawful bedroom use; a large block does not prove subdivision potential. Where the adjustment depends on legal, planning, surveying or building information, refer the question to the qualified adviser rather than guessing.

Ask whether the comparable is superior in one way or overall

A comparable may have more land but an inferior dwelling, stronger presentation but a busier position, or better parking but an owners corporation context. Avoid labelling it simply 'better' or 'worse'. Ask which features buyers in the relevant segment are likely to prioritise and whether the differences offset, reinforce or remain impossible to separate.

A feature matrix can help: site, building, accommodation, condition, title, parking, position and sale date. The matrix is an organisational tool, not a valuation algorithm. It makes the agent's judgement transparent and shows when a comparable supports only one boundary of the range rather than a direct estimate for the subject property.

Ask the agent to rank each difference as material, secondary or uncertain and explain why. The labels should reflect likely buyer response for this property type, not personal taste. If the judgement depends on untested assumptions, identify what inspection, document or newer sale could confirm or weaken it before launch.

Ask how date and market context were handled

Ask for the contract or settlement date used in the evidence and what has changed since. A recent sale with a weak property match may be less informative than an older close match, while an old result may need less weight where current conditions have shifted. Official property-sales statistics should be used with their publication and date basis understood.

Do not accept a fixed monthly or percentage time adjustment without supporting analysis. Markets do not move evenly across every property type or micro-location. The agent should explain the current competing stock and any recent close results that confirm or challenge the older evidence, while avoiding an unsupported forecast of where prices are heading.

Ask for direction, not a pretend dollar formula

Useful adjustment language explains direction and weight: the sale is superior for presentation, inferior for street position, broadly similar for accommodation and older in date. It can then say whether the result provides an upper reference, lower reference or secondary context. That is more honest than claiming every extra bedroom or square metre has one transferable dollar value.

If a monetary adjustment is shown, ask for its evidence, method and limitations and whether a qualified valuation is actually required. This guide does not provide a formula. Formal valuation work is performed by qualified valuers, and an agent's estimated selling price remains an appraisal for the selling process rather than a guaranteed result.

Also test for double counting. A renovation may already improve condition, presentation and effective accommodation; adding separate allowances for all three can exaggerate the same underlying difference. Ask whether each adjustment is independent, overlapping or simply part of the overall qualitative weighting.

Ask what would change the conclusion

Finish by asking what missing fact or new sale would alter the weighting. A building inspection might clarify condition; a title or plan might resolve site assumptions; a newly settled close match might replace weaker evidence. The appraisal should be dated so the seller knows which facts were available when the judgement was made.

Keep the comparison notes with the written appraisal and revisit them if launch is delayed or the property changes. The purpose is not to eliminate judgement but to make it testable. A seller should be able to understand why one result was adjusted, why another was discounted and where uncertainty remains before making campaign decisions. Record the evidence date and source beside each material adjustment.