Episode 30: The Appraiser-Realtor Relationship

Appraiser-Realtor relationships can be really valuable, but as with any relationship, it’s important that there’s trust and transparency on both sides. The goal is the same: to get buyers into their dream homes, affordably. Working together can make that outcome even easier to accomplish.

In this episode, founder of Scout Real Estate Jennifer Nelson is chatting with appraiser Andrew Gallaugher of Pacific Heritage Appraisal. 

In his more than 20 years in the business, Andrew’s seen it all, boom to crash and back again. He’s dealt with the annual cycle of crazy busy springs to uber-quiet autumns and winters, with swings of low interest rates and sales going for literally hundreds of thousands of dollars over asking, to significant drops as interest rates rise. So he’s a great resource for realtors who want to develop a good relationship with appraisers.

So what do appraisers want from realtors?

• Current data on the market is helpful, so please share the offers you’re getting.
• It’s not necessary for realtors to be present at inspection. 
• Sharing comps (comparisons) is helpful, especially when facing a tricky appraisal.
• List the upgrades and how much the seller has spent (particularly if upgrades are “invisible” like sewer lines).
• Add the concessions report if it’s “yes.”

Other questions Jennifer and Andrew discuss include….

• DADUs and ADUs - how do you appraise those?
• What’s the best way to deal with outlier issues like a pool, a 3- or 4-car garage?
• What about VA appraisals?
• How do you appraise super high-end homes if there aren’t comps available?
• What do you do if an appraisal seems “off”?

To hear the answers and more tips, please check out the episode and share with others. You can find more about Andrew at phappraisal.wixsite.com/pacheritage and you can find Jennifer at scoutrealestate.com.