Posted by Natalie-VA on September 21, 2005 at 13:57:10:
Gerald,
I am biased since I’m a RE Broker. I think that agents have a better grasp of market conditions than appraisers do. On the other hand, the agent might try and tell you a higher value in the hopes of getting the listing. Whether you use an appraiser or RE agent, you should look at the comps yourself to validate what they are telling you.
As far as having a good agent to give you comps regularly, most good ones won’t work for peanuts. I have a client I provide comps to, but he’s been a client for years and he lists the properties with me when he sells. I used to discount my commission for him but stopped earlier this year since I am more involved with my own investments. I encouraged him to find a good discount broker, but he prefers to stay with me and pay a full, non-discounted commission.
Not really a straight answer, but just some thoughts.
Posted by Gerald(NC) on September 20, 2005 at 20:59:51:
I’d like to find a few, (or even 1) “cheap” appraisors. The ones that will do a decent job, for a low fee due to lots of repeat business. So if you know any here in the NC area I’d love to possibly get intouch if they are close enough tot he Salisbury-Charlotte area.
Posted by Natalie-VA on September 21, 2005 at 10:28:12:
Gerald,
I don’t think you’ll find a good appraiser to work on the cheap. Most good appraisers have relationships with lenders that give them plenty of repeat business without having to discount their fees. Sorry.
RE Agent Appraisals/Comps Then? - Posted by Gerald(NC)
Posted by Gerald(NC) on September 21, 2005 at 12:02:25:
Haha yeah I know that. I was just talking to the lender handling my first sell, Woo Hoo! and he had mentioned finding a good appraiser on the cheap. He’s got one working with him and his own deals for $25! I want one too
Anywho, what do you think about RE agents giving you appraisals/comps? I’ve spoke with one that might be willing to help me out. I’ll have to talk to her to see if she’d be willing and what kind of deals we can strike up together. If you’ve got a RE agent that helps you, how’s your deal normally set up?
I just want help in estimating FMV so I know what kind of spreads I should be shooting for. I can research some on my own, but one of my tools, Realquest.com, doesn’t do my main county as far as giving me comps or financial info for that county.
I know, I know, I need learn how to use the courthouse as well, and I hope to go there this Friday, since I’ll be off from the “real” job. I then will look into the “forclosures, pre-forclosures, titles searching, owner look ups, tax vacancies etc.”
But a good RE Agent sure would be handy as well.
I’d love to get one that would say “Hey, I’ll work with you for say…$500-$1000 a home sold.” I’d be willing!
