How are real estate appraisals free ?

Real estate agents are often willing to offer appraisal free of charge as a way of meeting new clients wanting to sell their properties.

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Once an agent has sold a property, they need to find the next property to sell. Being a real estate agent is not like owning a retail business where replacement stock can simply be ordered in.

Real estate agents need to be proactive in their search for ‘stock’, hence offers of free appraisals on your home.

How do I know if the free real estate appraisal is accurate?

In order to make sure the price you put on your property is reasonable in the current market, there is definitely something you can do.

First is to seek the opinion of three or more agents instead of just one, even if you feel you very comfortable with the first agent you meet. Having three opinions will give you a comparison in style, service, selling fees and the agents appraisal price.

Whether you trust your agent implicitly or not, the sale of your property is your decision alone and this is precisely why you need to do your homework before you sign anything.

Each sale, like each property, is different there may well be questions unique to your situation that you should ask, but here are some fundamental questions to get you started:

Real estate appraisal questions to ask your agent:

• How many properties have you sold in my area in the last 6 – 12 months?
• How long were they on the market?
• What price did they sell for?
• May I see some evidence of those figures?
• Do you have a buyer ready to look at my property?
• What is your commission?
• What services do you provide for this fee?
• Are you willing to negotiate your commission?
• What kind of guarantees do you offer?
• What will you do to market my property?

By asking three or more agents the exact same questions, you will begin to get a very good idea of what your property might sell for, how much of that money you will have left after your agent deducts their fee and which agents you would prefer to go with.

If you are not happy with the answers, it won’t hurt to try a few more agents.

Be aware that one trap people can often fall into is feeling obligated to buy because they like the agent and have spent time with them – or they feel overwhelmed by the process.

These are natural human emotions, but not ones that are especially helpful when buying or selling one of the biggest investments most of us are likely to make in a lifetime.

A real estate appraisal (also known as property valuation) is an educated opinion of the value of your property, given either as an accredited report by a certified valuer or an approximation by your real estate agent.

Although there are a number of methods used to arrive at a fair price for your property, a free real estate agent appraisal by your agent will usually be based on its ‘Market Value’ alone. This is the most simple appraisal or valuation method and the one most often completed by estate agents.

While a free online property valuation or appraisal service are available usually you will find these services are also offered on behalf of real estate agents looking for more properties to sell.

Real estate appraisal methods

Because no two properties are the same, the way a price is determined can be a science.

For example, in the case of two different three bedroom town houses, both in the middle of a north facing street, with airconditioning and close to a school, there will always be some differences.

Perhaps, the size of the block or access, whether the property is close to transport, the coast or an industrial area. These things go towards determining the unique value of your property.

A free real estate appraisal is usually offered by your local real estate agent by letter or online is not by a licensed and certified valuer and this is where you should remember to get more than one opinion.

You may have received an invitation from your local agent to have your property valued free.

If you are interested in the idea of selling your home this is a good introduction to your local real estate agent. Even though your agent may not be a certified valuer, that doesn’t necessarily mean they can’t give you an accurate appraisal.

However, it is always wise to ask questions such as, how long your agent has worked in this area, whether he has recently sold similar properties to yours in the area and what these properties sold for.

Before signing on the dotted line, always you should read our consumer reviews on who are the best agents, we can give you advice how to choose the best agents to interview.

We also have compiled consumer ratings scores on real estate agents in your area, search now for the best real estate agent just click on link at top of page.