How To Get a Competitive Advantage by Talking to Appraisers

         

Here's an interesting question I get a lot as a supervising principal broker, and that is this:

Can I, as an agent, talk to an appraiser? Lot of misinformation about this and some appraisers, it's true, just won't talk to you. But you are okay and it's totally ethical for you to talk to an appraiser.

In fact, NAR has a FAQ on this. You can go look it up, but in their FAQ, they specifically state that people that have an interest in the transaction are completely okay in talking to the appraiser. Now, why would we talk to the appraiser? Or what would be the reason?

Well, there's a lot of reasons. One of 'em, we might be just communicating information about the houseless condition. Improvements that have been done. If there was multiple offers on the home, if the comp sets you used are totally appropriate, you can give them a copy of your comps. If the appraiser wants to accept them, they don't have to. New pending transactions that have occurred, just to kind of highlight them. Historical facts about the neighborhood.

There's a lot of different information, even copies of the sales contract that they don't necessarily have all the copies they need. So offering this stuff up can be very valuable.

Now, a lot of times we get calls from appraisers where this ask us questions about transactions we've been involved with, and we wanna take all those calls. We want to answer all those questions as soon as we can because we want those appraisers to have a good view of us and look at us as a resource that they can tap into at any time. Because inevitably, that appraiser is gonna circle back and appraise one of the transactions that you're involved with. So don't hesitate to get on the phone and at least make the offer.

They can say no, but make the offer and just say, "Hey, I'm here if you have any questions, happy to provide you with my CMA that I used. Happy to tell you about the property and everything that we did to market it. You know, score footage. Any questions you have, I'm here. Be don't want my help. Totally understand."

But you're putting it out there, right? So start doing that.

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