How do you share real estate appraisal results?

1 Know your audience

The first step to sharing appraisal results is to understand who your audience is and what they need to know. Different parties may have different interests, expectations, and questions about the appraisal process and the value of the property. For example, your client may want to know how the appraiser arrived at the value, what factors influenced it, and how it compares to the market. On the other hand, a lender may only need to see the final value and the appraisal report summary. An agent may want to know how the appraisal affects the negotiation or the closing. Therefore, you should tailor your communication to suit the needs of your audience and avoid unnecessary or confusing information.

2 Follow the standards

The second step to sharing appraisal results is to follow the standards and guidelines of your profession and your organization. As a real estate professional, you have to adhere to the Uniform Standards of Professional Appraisal Practice (USPAP), which set the ethical and performance requirements for appraisers and other users of appraisal services. USPAP states that you have to protect the confidentiality of your client and the appraisal report, and that you cannot disclose any confidential information or assignment results to anyone other than your client or authorized parties. You also have to follow the policies and procedures of your organization, such as the format, content, and delivery method of the appraisal report.

3 Use clear and concise language

The third step to sharing appraisal results is to use clear and concise language that your audience can understand and trust. You should avoid using jargon, acronyms, or technical terms that may confuse or mislead your audience. You should also explain the purpose, scope, and limitations of the appraisal, and how it reflects the current market conditions and trends. You should highlight the main findings, assumptions, and adjustments that the appraiser made, and how they affect the value of the property. You should also provide evidence and sources to support your appraisal results, such as comparable sales, market data, or photos.

4 Be prepared for questions and feedback

The fourth step to sharing appraisal results is to be prepared for questions and feedback from your audience. You should anticipate some of the common questions or concerns that your audience may have, such as how the appraisal differs from the listing price, the appraisal contingency, or the appraisal review process. You should also be ready to explain or clarify any aspects of the appraisal that your audience may not understand or agree with. You should be respectful and professional in your responses, and avoid being defensive or argumentative. You should also listen to your audience's feedback and suggestions, and acknowledge their perspectives and opinions.

5 Follow up and document

The fifth step to sharing appraisal results is to follow up and document your communication. You should confirm that your audience received and understood the appraisal results, and that they have no further questions or issues. You should also thank them for their cooperation and trust, and remind them of the next steps or actions that they need to take. You should also document your communication, such as the date, time, method, and content of your conversation, and keep a record of the appraisal report and any attachments. This will help you to maintain a clear and consistent communication history, and to avoid any misunderstandings or disputes in the future.

6 Review and improve

The sixth and final step to sharing appraisal results is to review and improve your communication skills and practices. You should evaluate your communication performance, and identify your strengths and weaknesses. You should also solicit feedback from your audience, and ask them how they felt about your communication, and how you can improve it. You should also keep up to date with the latest trends and developments in the real estate market and the appraisal industry, and learn from the best practices and examples of other professionals. By doing so, you will be able to share real estate appraisal results more effectively and appropriately, and build stronger relationships with your clients and partners.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?