Here is the perfect Listing to SELL a home and one an APPRAISER LOVES!

By
Real Estate Appraiser with Lanier Appraisal Service CR004373

As you know, Appraisers review FMLS/MLS listings daily for important information that you as Realtors provide. If you treat your listings as if they were your own home, not only will you help the seller sell their home, the buyer decide which home meets their needs, you will also help Appraisers provide the best possible value for the homes they are appraising. 

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Here is the perfect listing: 

 

1. Provide as many good photos (clear, detailed, close up photos of the interior and exterior) as FMLS/MLS will allow. As Appraiser we view these photos because they provide information on quality and condition. We must know this in order to determine how these properties compare to the subject we are appraising. AT A MINIMUM PLEASE PROVIDE PHOTOS OF ALL KITCHENS AND BATHS, THE MASTER BEDROOM AND SOME ROOMS IN FINISHED BASEMENT AREAS. 

2. DETAILS ON RENOVATIONS: I saw a listing that was so good I was going to call the Realtor to congratulate HER but then realized it WAS the Agent's own home, that is why you need to list as if it were your own home.

Here is what it said: Kitchen Remodel 2009, Bath remodel 2010, New Roof  - 30 yr Shingles 2011, New Floor coverings 2012,  We MUST know when the renovations took place for the appraisal. If you have room in your private and public comments to include such things as Granite Counters, Stainless Appliances, hardwood floors ETC, great, However if you have good photos we can see these items, so if you run out of room, the dates of renovations are the most important. 

If every one of your listings includes lots of good photos and lots of good quality commentary, you will do your sellers, buyers and the Appraisers a world of good, so PLEASE make this part of your listing plan

 

Thanks Guys!!

 

 

 

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Comments (4)

Richard Glesser
North Country Appraisal Services - Gaylord, MI

I've had a few, not many mind you, which were so comprehensive that the appraisal could have been done without an inspection.  Of course, new constructions are somewhat similar in that the appraiser must visualize the completion of the plans & specs.

Jul 21, 2012 05:37 AM
Sara Goodwin
Ashcroft & Associates - Portland, OR
Portland, Oregon Appraiser

Our MLS allows for up to 16 photos and most Realtors in the area opt to enter all 16.  We also have a private remarks area in our local MLS that allows Realtors to enter concession information after the property closes.  It's a win-win situation when appraisers don't have to call and bug Realtors for that information when their sales are used as comps ~

From MLS:

As I was looking through just one file to find a sale with a concessions note like this, I was comparing all the public verses private remarks and they might as well be renamed:  The Sales Pitch <Public> / The Truth <Private> because some of those comments are vastly different from public to private.

Aug 08, 2012 03:08 AM
Richard D. Ferris
AmcAppraisalsinc.com - Clermont, FL
Florida State Certified (FHA) Appraiser

Great advice! The more interior photos, virtual tours and descriptions - the better!  Even when I call to verify past sales with agents, many times I just get generic comments "oh the house was in great shape".   What does that mean?  Granite counters?  Upgraded tile floors?  What?

The appraisal world thrives on good information!  

Aug 13, 2012 03:41 AM
Alisa McKeel Willson
Appraisal Pros in Texas - Huntsville, TX
Certified Res. Appraiser

Our MLS is pretty good in many respects but the agents still have to enter the info...under financing many realtors are entering "other" as a type of financing...drives me crazy because what exactly does that mean? 

As it turns out, most of them are using "other" for VA financing but you can't be positive of that.    What I like is when the listing agent includes the seller disclosures in the listing...if there have been repairs it gives you the year which is helpful.

I wish realtors understood how important their information is and what an impact good MLS reporting can make in the appraisal process.

 

Aug 18, 2012 07:26 AM

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