I Apppraise

FAQ 2


 

2. WHAT IS THE DIFFERENCE BETWEEN AN APPRAISER AND A REALTOR? WHY IS AN APPRAISERS REPORT TYPICALLY MORE FAVORABLE THAN A REALTORS REPORT? 

The State of Michigan defines appraisers and realtors (real estate sales people) very differently. The appraiser must be an independent third party to any real estate transaction while the realtor typically represents one of the parties and therefore has a vested interest in the outcome of the transaction.

The appraiser does not work on any contingency or commission, which would be affected by the sales price, but the realtor does.

Once the appraiser gives their expert opinion of value in the report, the appraiser steps away from the transaction. The appraisers fee is strictly based on the one time fee of that appraisal and that appraisals fee is established at the time the assignment is accepted.

It’s important to remember, a realtors job is to assist their clients with the buying and selling of real estate. An appraisers job is to report value of the activities are entirely different form each other and are typically viewed as such.

 

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