New Agents Appraisal Resources
Are you a new real estate agent? If so, you’ll want to check out this week’s post to get yourself up to speed on the appraisal process.
I run into so many agents, both new and experienced, that have no clue about the appraisal process. While you don’t need to know as much as the appraiser you need to know enough to navigate around any problems that come your way.
In addition, knowing a little about the process can help you prevent issues from coming up. Today I thought I would share with you some of the blog posts I’ve written over the years that will help you get up to speed on all things appraisal-related, and of course, if you ever have any questions feel free to call me and I’ll do my best to answer them for you.
Click on the title and you will be taken to the full blog post.
1) Price per square foot is not the holy grail of property value – Never ever price a home-based solely on price per square foot. This has the potential to cause so many problems and make you look like you don’t know what you’re doing.
Looking at a house based only on its square footage would be like buying a car based on what it costs per pound. Using this logic a heavy duty work truck would cost more than a Lamborghini. It doesn’t make sense, does it?
Let me know your thoughts.
2) Blog roundup: A square footage resource guide for real estate agents – One of the biggest problems I see in listings is the rampant errors present with
square footage. This is especially troubling because it effects what comparables are chosen.
If the property’s square footage is overstated this can result in the home being overpriced. The opposite of this is also true with underpricing the home.
This compilation of blog posts will help you to get the most accurate square footage for your listings.
3) 10 Appraisal mistakes new agents make and how to avoid them – As beginners if we can learn from other’s mistakes it may help us prevent costly errors than will slow down our progress. Check out these 10 common mistakes that new agents make so that you can avoid them and jump start your success.
4) New real estate agent appraisal resource guide – Think of these tips as coming from your own personal appraisal adviser. Being knowledgeable about the different appraisal requirements can help the sales process go smoother and make your efforts pay off.
5) A Handy Home Appraisal Checklist For Homeowners And Agents – Do you like lists? In
this post, I provide printable checklists that are helpful to you as an agent as well as the homeowner. This can help facilitate the selling process and make sure that nothing is forgotten.
6) A 5 Step Process For Agents When Choosing Comps – Choosing the right comps is 99% of pricing a home accurately. In this post, I help breakdown the process of how to do it the right way. If you price your listings to the market it will help reduce the likelihood that the mortgage appraisal and contract are miles apart.
7) Agent’s Source Of Square Footage May Affect Sale Price – Where you get
your square footage information for your listings can have a major impact on the final sale price and how long it takes to sell the home. This post will show you how important your source of information is.
Question?
Are you a new real estate agent and need other appraisal questions answered? Leave a comment below and I’ll do my best to answer it. As always, thanks for reading.
Right on Tom. I hope you’re getting to connect with lots of new agents in the market. Appraisers can be a huge resource to agents. Some market participants don’t always think that way, but I’m a huge believer in a collaborative spirit. As an appraiser I learn so much from agent friends too.
I agree, Ryan. I think agents and appraisers are uniquely suited to work with each other even outside of the standard mortgage appraisal transaction. We can both learn from each other.