How Realtors can get the MOST out of the Appraisal for your Listings!

By
Real Estate Appraiser with Lanier Appraisal Service CR004373

Went out on Appraisal appointment. Realtor met me there and gave me a folder of information. She must have been reading my newsletters :) as it included everything I have previously discussed.

She showed me what she had in the folder and then left me to my job. She did not hover over me or follow me around.

Attention all Realtors if you do the same thing you will be serving your Sellers well. Below is list of what she gave to me.

1. Prior Appraisal Report ( it was a pre-listing appraisal)

2. List of what improvements were done prior to and even during the listing period including COSTS and Dates.

3. Sellers Disclosure Statement

4. Inspection report on the HVAC System

5. FMLS sheets of the comps with color photos printed off and she INCLUDED notes on the sheets telling me what the differences were with these sales compared to the Subject property.

6. Copy of Termite Report.

7. Copy of her own Comparative Market Analysis.

8. SHE Is using the 2nd Gen Website that I have discussed in prior classes, which has accurate Square footage information as this data source comes from prior Appraiser measurements on these homes. She printed off a 2nd Gen sheet for all the Comparable Sales she included.

** The outside of the Folder said "Appraiser Folder...Take with you and Call if you have any questions" along with her card attached.

 

 

** CONSIDER THIS: IF YOU PROVIDE ALL THIS FACTUAL INFORMATION AND THE REPORT LACKS THIS, IT PROVIDES YOU WITH A GOOD REASON FOR A REBUTTAL. REMEMBER YOU ARE NOT HELPING THEM TO DETERMINE MARKET VALUE....THAT IS THEIR JOB, YOU ARE PROVIDING GOOD FACTUAL INFORMATION THAT THE APPRAISER SHOULD BE REVIEWING BEFORE DETERMINING MARKET VALUE FOR THE SUBJECT.

 

 

DO this for all your listings and I can just about guarantee you that you will get the MOST out of your listings come appraisal time.

 

JOB WELL DONE!!!

 
 
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Rainmaker
429,389
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

Thanks for the tip Mary. I'm not sure all of the appraisers in our area would like that much help from the agent but I bet most would.

Dec 04, 2016 06:40 AM #1
Rainmaker
109,925
Mary Thompson
Lanier Appraisal Service - Flowery Branch, GA
Lake Lanier Appraiser in North Georgia

Don't think of it as HELP to determine Market Value. Think of it as factual information about the Subject and Comps that you are sharing with Appraiser.

The way I look at it,  you have nothing to lose by leaving that information in the home, whether you meet them there or not. At least this way, if the Appraiser misses something in the report that you already gave to them it would be a good reason for a rebuttal. This would relate to FACTUAL information you have provided the Appraiser and they missed in the report.

Go for it, It cannot hurt. You are providing good factual information to the Appraiser. They need to review this information. Main thing is do not push just give it to them or leave it in the home. If they call you ahead of time tell them you have a packet of information for them in the home and leave it at that. If they have questions they can feel free to call you.

 

Thanks, 

 

Mary

Dec 04, 2016 06:46 AM #2
Rainmaker
704,706
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Thanks you Mary Thompson Good and professional tips and great facts to share from lisitng Realtor for appraiser. Thank you.

Dec 04, 2016 06:48 AM #3
Rainmaker
4,162,676
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Mary, nice list of items we should have available for the appraiser, thanks!  

Dec 04, 2016 07:11 AM #4
Rainmaker
3,204,625
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Good tips...many appraisers are not from the area around here which is challenging

Dec 04, 2016 07:53 AM #5
Ambassador
1,614,090
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

We now have a good list on how to work with appraisers. Thanks

Dec 04, 2016 07:55 AM #6
Rainmaker
1,651,683
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

This is fantastic information. Thank you for sharing and best of luck!

Dec 04, 2016 08:02 AM #7
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Rainmaker
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Mary Thompson

Lake Lanier Appraiser in North Georgia
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