Realtors hate appraisers. And appraisers think Realtors are lazy and idiots. I personally don’t think that because I’m a broker and have been a Realtor for 8 years. I know a few Realtors who really work their butts off. Realtors hate appraisers because we bust their deals on occasion. Or as we appraisers like to say, “we delivered a credible opinion of value supported by data extracted from the market.” Come to think of it, builders hate appraisers. Loan officers hate appraisers. Borrowers hate appraisers. Man is it good to be loved! UNLESS my opinion of value meets or exceeds your contract price. Then it’s lovey dovey and let’s all sing kumbaya together because Brother Bob is the greatest! Woot hoot!

Statistics reported by lenders state only 11% of appraised values fall below the purchase price. Meaning 89% of appraisals meet or exceed the purchase price. So don’t believe all that you hear about appraisers “busting” deals. Realtors make a commission. Some work really hard to facilitate a transaction only to be crushed when the appraisal falls below the contract price. It sucks. I know because I’m a broker.

Couple of housekeeping items. One, the appraiser’s responsibility is to the public trust. Not to make your deal work. Two, it takes six years to become a state certified appraiser. By contrast, it took me a day and half to take and pass the week long real estate sales course and 33 minutes to pass the exam. My point is that realtors don’t know valuation. And their education and experience is woefully inadequate compared to appraisers. With the possible exception of a 10 + year veteran broker.

Want to get a better appraisal?

• Ask your realtor to submit data in writing to the appraiser about your property; improvements, additions, cool features, tankless HW, central vacuum, history of the property, neighborhood trends, schools, etc. OMG you wouldn’t believe how many times in over 10 years I’ve had a realtor give me data about your property. Maybe 50 times in over 5000 appraisals?
• Please give me a legible signed copy of the contract. And yes, I am required to review your sales contract. And yes realtors, you can give it to me directly. Shocking how many contracts I’ve reviewed that are not executed; missing signatures, effective dates, etc. Hundreds.
• Make my access to your property quick and easy! And frankly, I’d rather no one be there. You being there following and asking questions me will irritate me.
• Give the appraiser a package containing property characteristics, CMA, and how you arrived at your purchase price.
• Supply the appraiser with sales and listings you think are comparable to your home. And don’t give me the $1,000,000 water front house located 24 miles away that isn’t remotely similar.
• Appraisers are required by lenders to use sales that sold in past six months so the house down the street that sold for 198 million six years ago won’t work.
• Be honest at all times about everything. If I sense you are misleading me, it will not bode well. Because I will think you are hiding something from me and I’m going to dig deeper.
• Keep your property maintained. For goodness sake, and the sake of the value of your property, cut and trim your grass, and clean your house before I show up.
• Repair ALL the little items; wood rot, broken gutters, broken windows, spongy floor covering, door trim, paint, etc.
• LANDSCAPE. LANDSCAPE. LANDSCAPE. Curb appeal is my first impression of your property.
• Listen to your experienced realtor when it comes to changes in your home; staging, hideous wall paper, horrible painted front porch patio, etc.
• Keep your large dogs away from me. We have seven (7) Chihuahuas. Six are rescues. I would never leave my pack alone with anyone. You simply wouldn’t believe the lack of respect for my safety that homeowners and realtors show by saying, “Yes, I know he’s a pit bull but he’s really friendly! You’ll be fine.” Uh Huh. I’m sure I will. If I get bit  my attorney will sue everyone involved. So it’s your call and risk.”
• Do not follow me around the property. Leave me alone to do my job.
• Do not ask me to discuss the report or value with you. I am prohibited from doing so despite how desperately I want to! And NO, it does not matter that you paid for the appraisal.
• If the appraisal comes in lower than expected don’t try to challenge the appraisal. There’s 670 cell blocks along on a residential report. You don’t have a clue so don’t act like you. Ask for a reconsideration of value and submit data you think is meaningful. Appraisers aren’t perfect. We may have missed a great sale or made a mistake. Don’t be a jerk, be respectful and professional. It will go a long way.
• Read the above bullet point and bullet point No. 5: Supply data on the front end. Not after the report is delivered.
• Respect my opinion. You may disagree but respect my profession.

There are many more things you can do. Too many to list. Hope this helps you!

BBQ: “It’s tangible, it’s solid, it’s beautiful. It’s artistic, from my standpoint, and I just love real estate.” – Donald Trump

BLT: The Weight by The Band