Appraisal Misconceptions Are More Common Than You Think Let’s face it—real estate appraisals can feel mysterious if you’re not an appraiser. I’ve been doing this work for over 30 years, and I still run into smart, experienced professionals who have some appraisal misconceptions that lead them to misunderstand key parts of the appraisal process. Whether […]
6 Things agents should consider when picking comps for their listings
August 10, 2017 By 17 Comments
Comp selection is key to pricing They say that when appraising a home 90% of the battle is picking comps that closely match your listing. I think that this could be said for pricing a home as well. If you nail comp selection then the value indication will be more accurate and reliable. You shouldn’t […]
Why an appraisal should be part of every agent’s pricing strategy
December 14, 2016 By 7 Comments
Agents, how’s your listing presentation? It’s important for real estate agents to go into their listing presentations with a good idea of how they will price their client’s home. I’ve heard that one of the top reasons, if not the #1 reason, for a home not selling is because it’s priced too high. By encouraging […]
Appraisal vs CMA vs BPO – What’s the difference?
July 1, 2013 By 13 Comments
Many people know what an appraisal is, and they’ve heard of a CMA (Comparative Market Analysis) and a BPO (Broker Price Opinion) but they don’t know the difference. Today I thought I would compare these 3 methods used to estimate the value of a property. Comparative Market Analysis (CMA)- The CMA is performed by real estate […]
Is it a sale or is it a comparable?
September 13, 2012 By Leave a Comment
You may ask “what is the difference?” A sale is a comparable (comp), right? Wrong! A comp is a sale, but a sale is not always a comp. Does this sound confusing? If so, stay with me and I will try to explain the difference between the two. I hope I can give you better […]
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