Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
Please Feed the Appraisers…Good & Plenty For MLS Information
You can find plenty of articles about how changing appraisal practices have affected how homes are bought, sold, and financed. What you might not learn until you talk things over with an experienced appraiser in an objective setting is how comparable sales information and the recording of it are also making a difference.
Scan your average MLS listing and see whether the listing agent has simply used the maximum character count allowed for the description, and for evidence that suggests hurried data entry selections.
If the listing is suspect along those sorts of lines, how does that facilitate the appraisal process? And if an appraiser calls for additional details after the sale, how forthcoming are we with information regarding things such as quality and finish? Lots of clear photos, and a virtual tour (with lots of copy, please) can also work to everyone's advantage.
If you're an agent, redouble your efforts on your own marketing work and encourage your peers to do likewise. If you're a buyer or seller, examine some of your agent's listings and don't be afraid to ask questions...and at the very least, review the listing of your property. Otherwise, we wind up with more under priced listings ... more
Are you on The Rain? Grow Your Network!