Feedback Requested: Appraisals and your listings - do you pre-appraise?

I think it's an ok thing to do if your seller wants to have a formal appraisal.  The bank that lends a prospective buyer will have an appraisal done by "their appraise" and go by that one. However if there is a huge difference then you can suggest that the lender take a look at the one the seller has had done and see if you can work out a fair compromise. Banks/lenders typically use or go with a conservative appraisal of  course.

Good Luck!

Regards,

Patricia Aulson/Portsmouth NH Real Estate

Eric, I don't recommend they get an appraisal unless the property is out of the norm for the area.  Thankfully we have enough competitive and comparable sales within a 90 day timeline that we can come awfully darned close to estimated value without the sellers paying for an appraisal.

Now, if the sellers decide their home is worth much more than what data tells us, then I can't help them :-)

I recommend an appraisal if the sellers think the price is a lot more that what I suggest .

aside from the unique property issue raised above, I can not think of a reason why I would recommend it.   And if they disputed my CMA price, I doubt I would even take the listing.  Part of the job of a Realtor is to Properly price a Piece of property to sell.   Now, as I typed this, one thing i might use an appraiser for, is High End residences.  And I would pay for it, not my client.  I look forward to other comments

I feel that we as professionals know the market well enough to let the sellers know what its worth.  But if the seller(s) are set on a higher price then I think, its a great idea to have an appraisal done.  There are other realtor's out there that will tell the seller(s) that it will sell for the sellers price.  When that happens I tell them to get an appraisal before working with another Realtor.  If the appraisal comes in at my recommended price they list with me.. as I proved I know the market.  If the price comes in higher then they can list with someone else that recommends a higher price than mine.... But the sellers are NOT to tell the other Realtor(s) that they got an appraisal.  Let them have the Realtor what they think it will sell for.  I generally always get the listing due to knowing the local markets.