What do real estate appraisers do?
Real estate appraisers provide an *opinion* of value of a piece of real estate, be that land, home, condo, townhouse, coffee shop, etc. This opinion of value is derived from determining the subject properties contributing value factors such as square footage, lot size, bed/bath count, floor coverings, counter tops, etc via inspection. These items are then compared to closed sales that are most comparable to the subject. The comparable sales are adjusted for differences in features in order to determine their contributory value in the current market. The value is derived by reconciling the adjusted sales prices of the comparable’s based on their closeness in similarity to the subject. An appraised value is an opinion, as the appraisers job is to determine the market value of your home by interpreting the market trends in relation to your property. The appraiser needs to determine what is comparable and why. You can have 10 appraisers for the same property and receive 10 different apprai
