It may be difficult to know if you have a “good” appraiser. A quick Google search or Facebook post may not tell you much about the appraiser’s knowledge, experience, or quality of work.
Whether or not we are your appraiser, we want you to know the qualities we think are most valuable for an appraiser. Appraisers are sometimes measured by their likelihood to “hit a value” or maybe their low fees. There are other qualities that may not be quite as obvious but even more important.
Some of the largest financial decisions are made based on an appraisal. It’s so important for an appraiser to provide a well-supported, honest, and unbiased value.
✅ Appraisers are bound to follow ethical standards and practices. Your appraiser should hold these values in high regard.
✅Analytical skills are extremally important for the intensive research and analysis poured into a quality appraisal. Your appraiser should pay close attention to details and have the ability to perform critical analysis.
✅Appraisers are required to have market competency to perform the appraisal. You want your appraiser to be an expert in your market.
✅Your appraiser should serve as an independent and unbiased party. Appraisers are sometimes put in tough situations. His/her responsibility is to use factual data to assess the value.
One of the best ways to find out if your appraiser checks these boxes? Ask around or check out online reviews. Word-of-mouth from people who have direct experience is often the best way to know!