Two methods of adjusting comparable sales are common in the Direct Comparison Approach. The quantitative process involves the use of market derived mathematical adjustments while the qualitative process compares the relationship indicated by market data without quantification. Adjusting the comparable sales in comparison to the course being valued is best accomplished through the qualitative process. Golf courses are too dissimilar to allow for accurate quantitative adjustments. When applying the qualitative technique, the assessor identifies the comparable’s characteristics as inferior, superior, or similar to the subject in order to bracket the probable value range of the subject property.

Prior to applying qualitative adjustments to the characteristics, consideration has to be given to the other factors that may have influenced the sale price of the comparables. They are:

• Property rights - fee simple or leased?
• Financing term - was there any special financing that impacted the sale price?
• Condition of sale - did the motivations of the buyer and seller affect the sale price?
• Market conditions - has the market changed since the date of sale?