Appraisals for Real Estate Agents
When listing a home, there can sometimes be a difference of opinion between the real estate agent and the client when determining the asking pricing of a home.
Some homeowners believe that their home is worth more than it really is. This can cause some confusion on what to list the home for. There are times when the opinion of the real estate agent and client just don’t align.
Working with a certified real estate appraiser before listing your client’s home can help you if you and your seller disagree about how to price the property. This way, you can provide your client with a full report with the market value from an unbiased third party. This also works well if you are having trouble with a price reduction as well.
An appraiser can help before or after taking a listing. Have you ever had a listing that was on the market a long timeand the seller was becoming frustrated? Sometimes, bringing in an appraiser as a buffer can save an agent from losing a listing.
Appraisers and Real Estate Agents Can Work Together
If you and your client disagree about what to list a property for, having an appraisal done is a great way to bridge the gap.
If your client is hesitant to have an appraisal, remind them Chicago Appraisals has local appraisers with extensive training and experience. We will always provide an unbiased and very accurate opinion of value of the home.
Furthermore, you can kindly remind your client the fact that a lender will not lend a buyer more money than a home is worth. Having an appraisal done will give your client clarity on the appraisal process so that the home can be priced accordingly. The seller may provide prospective buyers a copy of the appraisal. When the home is under contract, and the buyer has their appraisal done, your seller will now know what to expect.
If a Home Sits on the Market, Is it Price or Condition?
There are usually two reasons homes don’t sell: Price or Condition. Have you ever had a listing that was very nice but was not receiving any offers? Had a listing that was on the market over six months?
Most likely, and as you already know… it may have something to do with it being priced too high. An overpriced listing simply will not attract buyers.
For the Listing Agent, having an overpriced listing can be a waste of time and money. For the Seller, experiencing long marketing times, the blame is usually placed on the agent or the market. In this circumstance, it always helps to have an objective assessment of the home performed. In some situations, having an appraisal done will get you out of the hot seat with your client.
After the appraisal is completed, you and your client can make a more informed (and less emotional) conversation about what the pricing strategy should be moving forward.
Real Estate Agents: Work With Chicago Appraisals
Choosing a local, professional appraiser is important for providing an accurate valuation so you and your client can agree on a fair asking price. Not only will the appraisal report help your seller set a realistic selling price. It also provides credibility to prospective buyers. Having a listing priced correctly can also attract more buyers.
We do appraisals for real estate professionals very often. Ordering an appraisal for asset valuation purposes has become a very common and effective solution for many listing agents. We always have a local professional appraiser in your area. If you would like more information, contact our experienced team at Chicago Appraisals today.
Real Estate Sales can be complicated and the facts of each case are unique. This article provides a brief, general introduction to the topic. This is not legal advice. Please contact a real estate attorney to provide legal advice. As with any legal matter, we highly recommend consulting with an attorney.