Why Should I Hire An Appraiser in Boise?

Why Should I Hire an Appraiser?

Pre-Listing, Pre-Purchase, FSBO’s

Whether you elect to “go it alone” as a FSBO or work with an experienced Realtor trained to represent you when selling the highest dollar asset most will ever own… A common objective for home sellers is to upload their listing to Ga-Zillo and beyond, maximize profit, minimize stress, and sell their home on day one –preferably to the first visitor for all cash. Remove the sign from the yard and update the status to “SOLD.” Sounds like a solid plan we can all get behind, right?

Now it’s time to fill in some details.

You might have already done your homework and interviewed at least 3 Realtors referred by people you trust. We’ll assume each agent came to the listing appointment well prepared to compete for your business. They made their case by walking you through the process using visual aids to help you picture the entire progression from list to close. They fielded your questions and provided you a comprehensive list of experts in the industry to help whenever called upon.

The marketing plan looks impressive, a photographer will be hired and the virtual tour will have soothing background music. It appears that everything is in order, all systems go! The item your prospective listing agent saved for last was the one you probably wanted to see first. It sounded nifty and rolled off the tongue. It was headlined “CMA” a.k.a. Comparative Market Analysis. It’s a summarized spreadsheet that finally unpacked your Suggested List Price. It’s what you’ve been anticipating the most… Once revealed, you have no memory of what the agent’s additional commentary was because you were pre-occupied doing rapid calculations.  “What’s our mortgage balance, how much for the agent, AND how much more for the one who brings us an actual buyer, then subtract out closing and escrow fees,” all this and more just to determine… Exactly how much will we net in the end? And breath.

Yep, we’re familiar with the process and sometimes a light-hearted perspective can help us take a step back to keep the end in mind. As a more serious point of insight, Realtors and Appraisers each play an important role in the home buying and selling process. They often work together in harmony to assist buyers and sellers who want to narrow in on the most reasonable purchase price or the most suitable list price to accomplish a particular goal. Some sellers want to maximize their equity gain to recoup their hard-earned investment including years of caring for a property, while continuously improving and maintaining it. Others are more mindful of timing – especially if they have a ‘Contingent Offer’ on another property they plan to move into once their house sells.

You’ve taken all the right steps and hired a trusted Realtor. It’s in your best interest to go a step further and hire a Real Estate Appraiser for an objective 3rd party opinion of value before you advertise the property in the MLS above or below a realistic price point.

While your agent and appraiser may or may not arrive at the same exact value conclusion, an appraisal from Appraisal One will certainly exceed the scope and level of detail of the typical CMA summary. An appraisal will provide you with additional market analysis, potentially multiple approaches to value for cross -verification, additional comments and written explanations for value conclusions, and market driven adjustments applied to differing components and features of the home. It’s the most complete and most reliable method for interpreting the value within your immediate competitive market area. In addition to helping you set a realistic selling price to attract buyers, there are other benefits to having a professional pre-listing appraisal:

  • While we’re on site we’ll create a Floor Plan Graphic Recreation which can be used by your agent as an extra tool for marketing your home to online buyers.
  • We’ll measure your home so you’ll have an accurate display of the living space for buyer confidence, MLS input, and for additional detail in your marketing flyers.
  • A recent appraisal can be a valuable tool to instill confidence in you and your agent when negotiating with buyers and unrealistic offers.

Keep in mind, buyers have access to more and more information online. Overpriced homes are often skipped over and attract fewer in-home showings and less interest overall. Time on the market can be a telling factor that works against a seller. Extensive time on the market can indicate several things but generally it comes down to price, location, and condition. Missing the price point out of the marketing gate could yield no offers which wastes valuable time and expensive marketing efforts. Conversely, an underpriced home can result in a sales price below its full potential which clearly impacts your bottom line.

We’re confident that getting a pre-listing appraisal will help you and your realtor determine a spot-on list price for your property as well as maximize your chances of it selling quickly so you’ll net top dollar. In addition, we can help you prioritize which interior or exterior improvements would add additional value and/or market appeal to your home.

Give us a call today with any questions you might have and check out our ‘Testimonials’ to see what others are saying about Clay Hall and Appraisal One.

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