Why Desktop Appraisals Matter and How Agents Can Help
Real estate agents can help make desktop appraisals more reliable by offering some valuable information.
NEW YORK – Appraisers who perform desktop appraisals, which are based on supporting data rather than on actual observation of a property, need agent cooperation to do their jobs well.
The appraisal professionals pull what they need for an assessment from prior reports, information found on the multiple listing service (MLS), municipal sources, listing agents, the internet and homeowners themselves.
However, not all the data is easily accessible or accurate. If the appraisal is not populated by credible data, the quality of the appraisal suffers.
Real estate agents can do their part by drafting an accurate listing sheet. Per NAR's guidelines, listing content includes interior and exterior photographs and images, virtual tours, written descriptions and pricing information. Other information may be necessary.
Agents can step up their cooperation by maintaining interior photos in the MLS even after the deal has closed, answering inquiries by appraisers and sharing what they know with the appraisal community.
Source: Realtor (11/23) Sweeney, Maureen
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