To Agents with Love (from Appraisers)

Editor’s Note: Here are a few helpful tips on how to facilitate the real estate purchase process, from appraisers to real estate agents/brokers (with love). Comments were gathered from an online thread.


 

To Agents with Love (from Appraisers)

  • The quality of our work improves when we have more information. The more information agents can give appraisers, the better we can do our job. Higher-quality data put into the Multiple Listing Service (MLS) by agents will translate into a better analysis and a higher-quality appraisal report. Better data could improve appraisal turn times, which would help agents close the deal quicker. More reliable data would not eliminate the dreaded verification calls but might make them quicker and less painful. Good data can ensure that the best comparables are selected.
  • Take photos of the street in both directions, all angles of the exterior, all bathrooms, the kitchen and the living area at a minimum. Buyers want more photos when they’re looking for a home. Appraisers want more photos when they’re trying to select comps. If there is damage, take a picture of it.
  • MLS data accuracy is important. Lot size, acreage (in some areas), square footage (GLA), year built, and school district are important. If this information is wrong, the MLS records likely will not display correctly when searched.
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