Many Realtors are scared to talk with an appraiser. It’s perfectly OK. Just don’t pressure s/he to go high or go low.

In fact, we need to talk with Realtors! Because qualitative analysis is very important. Buyers are the primary decision-makers; they control sales based on their alternatives. Asking a seller how much they added for a feature is not usually indicative of its market value. It may be an indication of value in use, but not market value since the buyers are the ones that have options and will exercise them if they find a better buy on the market.

Qualitative Analysis: This is what appraisers are considering when talking with Realtors or buyers:

Advantages

• This tool often provides a good indication of property value without reverting to dollar or percent adjustments.
• Interviews reveal the buyer process. Buyers usually analyze their options based on superior and inferior labels.

Disadvantages

• The information provides little direct support for value conclusions.
• You must make sure buyer opinions are not at odds with other evidence.
• Personal interviews may not be considered adequate support by review appraisers or lenders.
• Buyers may offer misleading information.
• Buyers may not have concrete reasons for their purchase decisions (e.g., “I just liked it better.”).
• Buyers may be embarrassed by their purchase decisions.
• Buyers may not want anyone to know the reasons for their purchase decisions.

BBQ:

Great values never go out of style by John T. Cahill, Chairman and CEO, Pepsi

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