The Ultimate Guide to Getting a Listing Appraisal for Your Home

If you are planning to sell your property, you might be wondering how to get an accurate estimate of its value. A listing appraisal is a professional opinion of the fair market value of your property, based on its features, condition, location, and comparable sales in the area. A listing appraisal can help you set a realistic asking price, attract more buyers, and negotiate better offers.

But how do you find a reliable and qualified appraiser for your listing appraisal? And what are the alternatives to a listing appraisal? In this article, we will answer these questions and more. We will also introduce you to Residential Appraisal and Valuation Services, a trusted and experienced company that offers high-quality listing appraisals for residential properties.

What is a Listing Appraisal?

A listing appraisal is a type of real estate appraisal that is done before listing a property for sale. It is different from a buyer’s appraisal, which is done after an offer is accepted and usually required by the lender to verify the value of the property.

A listing appraisal is performed by a licensed appraiser who inspects the property and prepares a detailed report that includes:

The subject property information, such as square footage, bedrooms, bathrooms, lot size, condition, upgrades, etc.
The comparable home sales data, such as recent sale prices, dates, sizes, features, etc. of similar properties in the area.
The photos from the appraiser’s inspection, showing the condition and quality of the property’s major components, such as roof, HVAC system, plumbing, etc.
The adjustments and calculations that the appraiser uses to determine the fair market value of the property.

A listing appraisal usually costs between $350 to $500 or more, depending on the location, size, age, and complexity of the property. It can take several hours or longer to complete the inspection and report.

Why Do You Need a Listing Appraisal?

A listing appraisal can provide you with several benefits when selling your property, such as:

It can help you price your property accurately and competitively. Pricing your property too high can deter potential buyers and cause your property to sit on the market longer. Pricing your property too low can result in leaving money on the table and losing out on profits.
It can help you attract more buyers and generate more interest. Buyers are more likely to trust a professionally appraised value than an arbitrary asking price. A listing appraisal can also serve as a marketing tool that showcases the features and quality of your property.
It can help you negotiate better offers and avoid lowball offers. A listing appraisal can serve as a reference point and a backup for your asking price. It can also help you counter any discrepancies or disputes that may arise from the buyer’s appraisal.

How to Find a Reliable and Qualified Appraiser?

Finding a reliable and qualified appraiser for your listing appraisal is crucial for getting an accurate and credible value estimate. Here are some tips on how to find a good appraiser:

Ask for referrals from your real estate agent, friends, family, or neighbors who have recently sold their properties. They may have worked with or know of reputable appraisers in your area.
Search online for appraisers who are licensed and certified in your state. You can use sites like HomeAdvisor or browse for certified appraisers online. You can also check their ratings, reviews, credentials, and portfolios on their websites or social media pages.
Contact several appraisers and compare their fees, services, availability, and experience. Ask them about their qualifications, specialties, methods, and turnaround time. You can also request samples of their previous work or references from their past clients.
Choose an appraiser who has extensive knowledge and experience in your local market and your type of property. You want an appraiser who is familiar with the trends, demand, supply, and characteristics of your area and your property’s features.

What are the Alternatives to a Listing Appraisal?

A listing appraisal is not the only option for estimating your property’s value. There are some alternatives that you can consider:

A comparative market analysis (CMA) is a report that provides an opinion of value based on similar properties that have recently sold or are currently listed in your area. A CMA is prepared by a licensed real estate agent or broker who uses their expertise and market data to compare and adjust the properties based on their differences and similarities. A CMA is usually free and provided by an agent during your initial interview. A CMA report may not be as objective or detailed as an appraisal, as it depends on the agent’s skill and experience. A CMA report may also be influenced by the agent’s motivation to win your business or sell your home quickly. A CMA report may not reflect the true market value of your home, especially if there are few comparable sales in your area or if the market is changing rapidly.
A home value estimator, which is an online tool that uses data from various sources to estimate your home’s value. A home value estimator can give you a quick and easy way to get a ballpark figure of your home’s worth. However, a home value estimator may not be very accurate, as it does not account for the unique features and condition of your home, or the local market trends.

Frequently Asked Questions (FAQs)

What is the difference between a listing appraisal and a buyer’s appraisal?

A listing appraisal is a type of real estate appraisal that is done before listing a property for sale. It is used to help the seller set a realistic asking price, attract more buyers, and negotiate better offers. A buyer’s appraisal is a type of real estate appraisal that is done after an offer is accepted and usually required by the lender to verify the value of the property. It is used to protect the buyer and the lender from overpaying for the property.

How long does a listing appraisal take?

A listing appraisal can take several hours or longer to complete, depending on the size, age, condition, and complexity of the property. The appraiser will inspect the property and prepare a detailed report that includes the subject property information, comparable home sales data, photos, adjustments, and calculations. The appraiser will then deliver the report to the seller within a few days.

How much does a listing appraisal cost?

Costs of a listing appraisal can vary depending on the location, size, age, and complexity of the property. The cost of a listing appraisal is usually paid by the seller as part of their selling expenses.

Do I need a listing appraisal if I have a CMA or an online home value estimator?

A CMA or an online home value estimator can provide you with a rough idea of your property’s value, but they are not as accurate or reliable as a listing appraisal. A CMA or an online home value estimator may not account for all the factors that affect your property’s value, such as its condition, upgrades, features, location, etc. A listing appraisal is performed by a licensed appraiser who has extensive knowledge and experience in your local market and your type of property. A listing appraisal can provide you with a more precise and credible value estimate.

Why should I choose Residential Appraisal and Valuation Services for my listing appraisal?

Residential Appraisal and Valuation Services is a trusted and experienced company that offers high-quality listing appraisals for residential properties. We have a team of licensed and certified appraisers who are experts in your local market and your type of property. We use the latest technology and data to provide you with a fast, accurate, and professional listing appraisal. We also offer competitive pricing and excellent customer service. Contact us today to schedule your listing appraisal!

We would love to work with you.