Appraisers Versus Sales Associates

Monte Carlo KitchenThere is a big disconnect between Realtors and appraisers some times. For example, residential sales associates are often asked to form an option of an acceptable list price for a home. This is an important to establish a sales price. This sales price has to be supported by an appraisal to get a loan. There is an exception. When a buyer uses cash to purchase real estate, an appraisal is not required (but recommended). This disconnect can happen based on how the value versus sales price is established. Most sales associates base their prices on a price per square foot basis and maybe make some minor adjustments for things like swimming pools. An appraiser provides an appraisal, which makes a variety of adjustments (using strict guidelines).

Granada II Front ElevationThere is also an education requirement difference between Realtors and appraisers. Why is this important?  The purchase of a home is one of the biggest purchases in most people’s life and should be handled by an experienced and educated sales associate.  A sales associate requires only a high school education and an exam. An appraiser requires a Bachelor’s Degree, experience, and exam to become either a Certified Residential Appraiser or a Certified General Appraiser. Hugh Kelly, professor at New York University Schack Institute of Real Estate, said that educated professionals migrate to top industry positions. “Degrees can be very helpful to Realtors® as they progress through their careers; degrees provide individuals with skills to gain entry into executive positions in top firms, manage diverse businesses and advance entrepreneurially,” he said. According to 2015 statistics, formal education of REALTORS® is as follows:

  • Some college: 31%
  • Bachelor’s degree: 30%
  • Graduate degree and above: 12%
  • Associate degree: 11%
  • Some graduate school: 8%
  • High school graduate: 7%

In summary, there is a difference between appraisers and sales associates as well as their education requirements. As an appraiser and sales associate with a Bachelor’s degree in both real estate and finance, I can offer my clients the best of both worlds.  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty at 2119 W Brandon Blvd, Brandon, Florida  33511).  Thinking of buying a new home?  You should consider using a realtor. As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link.

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