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New Appraisal Tools Section on

NAR has added a new resource on the page called “Appraisal Tools.”  The Appraisal Tools page provides links to educational resources for real estate agents who want to educate clients about the appraisal process.  Links include NAR’s new Frequently Asked Questions brochure about appraisals as well as three publications from the Appraisal Foundation including common myths about the appraisal process.  The “Tools” page also has links to Seller and Servicer Guides from Fannie Mae and Freddie Mac, as well as the Green MLS toolkit and a Field Guide to Appraising a Real Estate Office. 

  1. Another valuable tool is the Appraiser. More times than not I see comments from Brokers, “The Appraiser ‘killed’ my deal with his/her appraisal.”, but the reality stems from the home priced well above market value and/or simply the Gross Living Area (GLA) above and below grade is wrong. Tendencies to use county records or the home owner as ‘verified’ sources is setting yourself up for the ‘kill’. County records, especially in older homes, are out dated, do not reflect improvements, etc.. One valuable service, as an Appraiser, that I provide, is conducting an onsite inspection for the purpose of measuring the home. By providing a reliable source for the GLA and a floor plan or sketch (which can be used for fliers!) for a small fee can make a big difference in marketing the home and selling the home. I provide this service to the Portland Oregon Metro Area and encourage Brokers to take advantage of a truly verifiable source.

  2. Steve, I provide a measuring service in Indianapolis as well. You would think more real estate agent would use our service or at least measure homes themselves! So many are so wrong that I have seen deals die becasue of it.

  3. Glad to see the NAR providing additional information about the appraisal process. A user submitted directory, categorized by state, might be a nice thing to add in the future.

  4. Glad to see the NAR providing more resources on the appraisal process. A user submitted directory categorized by state might be something to consider adding in the future.