Does having a home “pre-appraised” make a difference? Is this money well spent by the average seller? Do buyers and buyer agents care; or are pre-listing appraisals not considered credible? In most cases, pre-listring appraisals are a waste of money for sellers and a crutch for agents.
Will a seller provided appraisal be accepted as “impartial” by a buyer? A few things immediately come to mind when a seller provide appraisal is pushed front and center:
- What is the relationship of the agent to the appraiser? Seller to the appraiser?
- What was the stated purpose of the appraisal?
- What is the background of the appraiser?
- When was the appraisal completed and what are the trends in the area?
- Who paid the appraiser?
- Was the appraisal completed as an underwriter would expect?
Are agents bringing in appraisers as a crutch; perhaps they don’t want to offend a seller and lose a listing? In the so called “recovering” market are listing agents afraid to level with buyers that are convinced values have increased when they might not have? Clearly there are times to bring an appraiser in but those are when the home is truly unique or listing agent is genuinely stymied – and that should be infrequent.
Buyers don’t want to be told what to think based upon something provided by the seller, especially something that is an opinion. The use of appraisers as consultants during the selling process is seen in areas; working with sellers and agents to establish a list price, pricing strategies while listed and preparing an info packet for the buyer’s appraiser. This is probably a better role and one that can be helpful throughout the selling process.
Buyers and lenders want “their experts” to offer opinions, not the seller’s. Sellers can save money by getting their homes in top shape and by using experienced agents that can look at the data like an appraiser. If required, bring in experts and use them as the situation dictates. IF is the operative word. Shoving something in the face of buyer and telling them what to think doesn’t typically work.
- See more at: http://hankmillerteam.com/2014/01/08/should-sellers-get-a-prelisting-appraisal/#sthash.vz1OhqjM.dpuf
