Appraisers can be the buffer between agents and their clients…
It’s well know to real estate agents that a homeowner selling his or her home has the option to list their home at any price he or she sees fit. Yet, many people feel their home is worth a lot more than it really is.
Sometimes real estate agent’s idea of what a property is worth and the homeowners don’t coincide. In some cases, getting an appraisal before taking the listing may help with certain clients when pricing is an issue. Some clients may believe you priced it too low and they think they will lose thousands of dollars.
Ever heard- “It sold so fast, we think we could have sold our house for more”?
Clients can get very emotional about price.
Some clients may think you listed it too high and that’s why it didn’t sell, or it hasn’t yet. Having the price reduction conversation with a client is never fun.
An appraisal from a certified property appraiser prior to listing a client’s home will sometimes get you out of the hot seat with your client.
Price your clients home based on the opinion of a certified, licensed professional real estate property appraiser.
This will give your client a full understanding of the valuation of the property prior to it being listed. Now you will have a less emotional conversation with your client about the pricing strategy.
Have the Appraiser set the price. How does it work?
It is really simple. Explain to your client:
“A 3rd party, unbiased professional local appraiser, that does this every day, provided us an opinion of value at $450,0000. I’ve reviewed the report and I trust the appraiser’s judgement. My recommendation is to price it there.”
This will definitely be a much easier conversation to have with some clients. The appraiser is the one that suggested the market value of the home… Not the real estate agent. Often times, the appraisers opinion of value will support and back up your recommendation or findings!
In some cases, it is beneficial for the seller with optimistic expectations to have a home appraisal prior to listing it for sale. Remind your client the fact that a lender will not lend a buyer more money than a home is worth or appraises for.
True, the mortgage lender will have the property appraised as part of the mortgage process. Yet, bringing in your own expert may give your client a clearer sense of what a lender may think the home is worth and thus can be priced accordingly.
It’s better to price the home in line with other properties and potentially attract multiple bids. Rather than aiming too high and continue to reduce the price months after sitting on the market.
Also, no one wants to find out a week before closing
that the home did not appraise. Better to set the price of the home just right in the beginning in this ever-changing real estate market.
Have a listing that has been on the market over 90 days?
If your client has been on the market over 90 days you may want to suggest an objective assessment. It is well worth the client spending the money for an appraisal.
These findings will help you, the real estate professional and your client, develop a more informed listing and marketing strategy. This will better suit your client’s needs and sell the home at a price that is based on a local appraiser’s opinion.
Of course, it is the market that will determine the price of a home. While an appraisal may be the best solution, it is certainly not a perfect one. The appraised value should be used as a guideline.
The appraiser will provide a very accurate and supported opinion of value. With it you can help your client make the most informed decision when they sell their home. And thus, recoup the most amount of money in the least amount of time by having it priced correctly by us.
To schedule an appraisal please click here.
If you are considering listing your home with a local realtor, we have found this directory to be most useful – Highest Rated Realtors
This article provides a brief, general introduction to the topic. This is not legal advice. Please contact an attorney to provide legal advice. As with any legal matter, we highly recommend consulting with an attorney.