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By Melissa Dittmann Tracey<\/div><\/div>\n

One out of five real estate pros say they avoid any type of interaction with an appraiser because they think it\u2019s against the rules. But they\u2019re wrong. And sometimes they should.<\/span><\/span><\/p>\n<\/div>\n

WASHINGTON \u2013 Forty-seven percent of real estate professionals say they\u2019ve had a transaction fall through due to a problem in the appraisal process, according to the National Association of Realtors\u00ae (NAR)\u2019 2022 Appraisal Survey<\/a>. The most common culprits according to the survey? An appraised value that comes in lower than the contract price, and, according to respondents, a personal belief that the appraiser lacks knowledge of a neighborhood or uses inappropriate comps.<\/span><\/span><\/p>\n

The survey of more than 600 appraisers and 2,500 residential real estate pros was conducted in May.<\/span><\/span><\/p>\n

Many real estate professionals say they\u2019re fearful of talking to appraisers and try to keep their distance during this part of the transaction:<\/span><\/span><\/p>\n

21% say they interact with appraisers only when there is an issue with the value<\/span><\/span><\/li>\n

19% say they don\u2019t interact with appraisers at all<\/span><\/span><\/li>\n<\/ul>\n
Of those who don\u2019t interact, most say they avoid contact because they think they\u2019re not legally allowed to speak to the appraiser, or they\u2019re concerned the interaction might lead to appraisal bias.<\/span><\/span><\/p>\n
However, \u201cregulations allow real estate agents, or other persons with an interest in the real estate transaction, to communicate with the appraiser and provide additional property information, including a copy of the sales contract,\u201d according to NAR\u2019s FAQs on the residential appraisal process<\/a>.<\/span><\/span><\/p>\n
Realtors who do interact with appraisers say they try to provide additional information<\/a> to help them in their valuation. They also may meet with the appraiser onsite to provide comps, a list of improvements made to the property or information on multiple offers.<\/span><\/span><\/p>\n
Source: National Association of Realtors\u00ae (NAR)<\/span><\/span><\/p>\n
\u00a9 2022 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n
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\nAuthor: izaakh<\/p>\n","protected":false},"excerpt":{"rendered":"
By Melissa Dittmann Tracey One out of five real estate pros say they avoid any type of interaction with an appraiser because they think it\u2019s against the rules. But they\u2019re wrong. And sometimes they should. WASHINGTON \u2013 Forty-seven percent of real estate professionals say they\u2019ve had a transaction fall through due to a problem in the appraisal process, according to the National Association of Realtors\u00ae (NAR)\u2019 2022 Appraisal Survey. The most common culprits according to the survey? An appraised value that comes in lower than the contract price, and, according to respondents, a personal belief that the appraiser lacks knowledge of a neighborhood or uses inappropriate comps. The survey of more than 600 appraisers and 2,500 residential real estate pros was conducted in May. Many real estate professionals say they\u2019re fearful of talking to appraisers and try to keep their distance during this part of the transaction: 21% say they interact with appraisers only when there is an issue with the value 19% say they don\u2019t interact with appraisers at all Of those who don\u2019t interact, most say they avoid contact because they think they\u2019re not legally allowed to speak to the appraiser, or they\u2019re concerned the interaction might lead to appraisal bias. However, \u201cregulations allow real estate agents, or other persons with an interest in the real estate transaction, to communicate with the appraiser and provide additional property information, including a copy of the sales contract,\u201d according to NAR\u2019s FAQs on the residential appraisal process. Realtors who do interact with appraisers say they try to provide additional information to help them in their valuation. They also may meet with the appraiser onsite to provide comps, a list of improvements made to the property or information on multiple offers. Source: National Association of Realtors\u00ae (NAR) \u00a9 2022 Florida Realtors\u00ae X ADVERTISEMENT Go to Source Author: izaakh<\/p>\n","protected":false},"author":4,"featured_media":7255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/7254"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=7254"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/7254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/7255"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=7254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=7254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=7254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}