The Value of an Appraiser

September 26, 2010

A synonym for appraiser is evaluator and that’s a great defi nition for an appraiser of luxury
homes. They’re an essential part of the process when it comes to selling your home and can be
invaluable even before you have an offer. Some sellers like to get an appraisal done before they
market, just to establish a base line. The thing to keep in mind though, is that appraisals and
appraisers can vary. Key to the process is the experience and expertise of the appraiser. Are they
knowledgeable of the area you live in, meaning, do they know the history of a neighborhood? If
you live in an older section of town, one where the original builders built a garage with a guest
house over it to live in while building will factor into the home’s value.
What kind of comparables are they using? With luxury homes, they may need to travel
outside your immediate area and make adjustments, but still must have a working knowledge of
the market of all areas.
Keep in mind, if you have three appraisals, you’ll more than likely have three opinions as
to price. Your Realtor can help guide you with their knowledge and experience in the hiring of
appraisers, so just ask the question!