6 Ways to Assist the Appraiser

6 Ways to Assist the Appraiser : You’ve most likely been told that you can’t speak to the Appraiser, but there are methods you can assist the Appraise
With numerous bids becoming the norm, appraisals should be a concern for both buyer and selling agents.

Hold Your Breath

It is not appropriate to rejoice after a contract has been ratified.

This is especially true if the home sold for significantly more than the asking amount.

In a multiple offer situation, there are often no comparables to support the higher price the buyer is ready to spend.

As a result, if the accepted offer includes an Appraisal condition, both parties must hold their breath and wait to see what the appraiser does.

As a skilled real estate agent, you have prepared your client for what may happen during the appraisal.

Appraisers Look at the Past

6 Ways to Assist the Appraiser : The job of the appraiser is to safeguard their customer, the bank.

My experience has taught me that most appraisers are conservative in their property valuations.

They are more concerned with the past than with how a market is performing.

However, when markets strengthen, appraisers appear to be falling behind.

This is where real estate agents come in. Realtors should not make any assumptions about appraisals.

We must inform the Appraiser of what is going on in the market.

Leave nothing to chance.

When it comes to the appraisal, you have no idea who you will be assigned to.

Will they be familiar with your specific market?

Can you rely on them to find the greatest comparables?

Do they grasp and consider current market conditions?

There is no way to know the answers to any of these questions before they are asked.

Let’s look at ways you CAN assist the Appraiser.

6 Ways to Help the Appraiser:

1. Make certain that your seller keeps the house neat and clean; you want the appraiser to see the property in its finest light.
2. Remove the lockbox from the property; you want the appraiser to contact you to set up an appointment.
3. Meet the appraiser on-site – The listing agent should meet the appraiser on-site…You’re not all that busy.
4. Provide the appraiser with the most recent and best comparables – please do not provide the appraiser with comps that are not a good match. You lose all credibility by doing so.
5. Provide the appraiser with a list of the improvements made to the property, including when they were completed and how much they cost.
6. Inform the Appraiser if several offers were received; tell them how many bids were received and ask if they would want to see any documentation of the other offers.

Represent Your Customer

We should never make assumptions about how a property will appraise.

We must do our share to present the property in the best possible light and inform the appraiser of current market conditions.

Even if the appraiser refuses to accept any of our material, we know we did everything in our power to represent our clients well.

Our major responsibility is to represent our individual clientele.

Have a prosperous day!