HOW CAN AN APPRAISER HELP ME SELL MY HOME?

Don’t assume.  Don’t guess.  Know what your house is worth!

When you know your home’s value you can market

your biggest asset effectively.

• Appraisers know the market and how to determine the value of your biggest asset.  

• We look at the property without preconceived ideas, evaluating its location, neighborhood, curb appeal, design, interior and exterior amenities, features, condition and updating.  

• Appraisers personally inspect & measure the house and verify comparable information.  Most agents don’t measure; most assessors don’t know the condition.  

• Final value opinions are based on comparable properties in the subject’s market area, taking into account similarities and differences.  

• Appraisers are licensed by the State, with a minimum of 120 hours of classroom learning and 2000 hours of hands-on apprenticeship before they can appraise on their own.  With mandatory continuing education throughout their career. 

• By law, appraisers must be unbiased.  Appraisers have no interest, financially or otherwise in the value of the property.  Their only interest is in a fair, accurate assessment of the property.  

• Real Estate Appraisers are consulted and depended upon by courts, attorneys, lenders and private individuals to determine accurate values for litigation, divorce, tax appeal, investment and finance.

HOW TO CHOOSE A GOOD APPRAISER

Experience is Everything!

• Limited Appraisers have taken the minimum 75 hours of classes with limited experience.  They must have a co-signer for all appraisals.

• State Licensed Appraisers have the minimum 90 hours of classes, 2000 hours experience.  

• Certified Residential Appraisers must have 120 hours of classes, a minimum of 2500 hours experience, plus pass 2 state exams.  Currently, there are fewer than 100 Certified Residential Appraisers in the state. This higher designation indicates additional training & experience and allows for the appraisal of any residential property, regardless of value.  

• Certified General Appraisers may appraise any type of property, but typically only appraise commercial or industrial property.  

Location!  Location!  Location! Just like in Real Estate, in appraising location is everything!  Make sure the appraiser you hire is familiar with your area. 

• Ask what areas they cover. Remember the phrase, “Jack of all trades, master of none”.  If they cover 9 counties, chances are good that they don’t know any one of them well. 

• Ask how many appraisals they have done in your city / township in the past year. 

Purpose.  Does the purpose of the appraisal change the value of the property?  NO! Any number of appraisals of a particular property should yield the same results.  However, some appraisers get caught up in giving lenders/clients the answer they are looking for, and lose track of how to actually determine value.  

• Ask the appraiser what the bulk of their business is. Is it for refinance?  Purchase? Private / Legal? 

• Have they done appraisals for individuals looking to know the market value of their home? 

• Have they done any work for relocation, divorce, estate settlement, etc.?  These types of appraisals regularly stand up to extensive scrutiny, indicating that the appraiser is experienced and accurate in their process and results.

Professionalism.  The property the appraiser is valuing is your greatest investment and asset.  Regardless of the purpose for your appraisal, you deserve to be treated like a client.  This should include promptness, courtesy, accuracy and timeliness.

• Ask the appraiser how long they anticipate it will take to determine your value and to get the written results to you.

This is your home... Your investment.
The choice is Yours!