Discussions.

The Appraisal Process

Visual of the Appraisal Process

1.Appraisers use three different methods to evaluate real estate. Some work better when used on one type of property over another and others work better to determine value based on the purpose of the appraisal. Discuss the three methods and describe the circumstances where one method may be given more weight over another during reconciliation (and provide examples of each).

2.The Appraisal Process

You are expecting a property to appraise at $250,000 which was the sales price of the home. The appraisal came back at $200,000. As a real estate sales agent what should you do upon receiving this appraisal?

Reference: Galaty, F. W., Allaway, W. J., & Kyle, R. C. (2010).Modern real estate practice(18th ed.). LaCrosse, WI: Dearborn.