No Broke Months For Salespeople - What You Need to Know When Dealing With Appraisals

Episode Date: September 10, 2023

What You Need to Know When Dealing With Appraisals  Real Estate Coach Dan Rochon from No Broke Months for Real Estate Agents discusses appraisals.In this episode, Dan points out what you should look for when dealing with appraisals.In this new No Broke Months for Real Estate Agents episode, learn how to handle appraisals properly.--To find out more about Dan Rochon and the CPI Community, you can check this link:www.NoBrokeMonths.com --Stop 🛑 wasting your time ⏳ or spending too much money 💸not getting the results you want in sales; I would love you to join me for the upcoming 5-Day Listing Challenge.You will learn how to find YOUR Way to having closings every month.www.5daylistingchallenge.com--Get your free copy of the Real Estate Evolution here:bit.ly/RealEstateEvolution_GetYourBookThis book shows you the step by step on how to:Step 1: Believe in your unknown potentialStep 2: Deconstruct persuasion techniquesStep 3: Find a business and get hired consistentlyStep 4: Be proactive in the relationship with your clients.Step 5: Learn and implement the exact steps to hire, train, lead, and train virtual assistants so that they can build, support, and guide a winning team to scale.And if you’d like to have a consistent and predictable income, like this page, and don’t forget to join the Facebook group to network with the top agents:https://www.facebook.com/groups/newbieagents/ To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan Rochon

100% of the time, that conversation, no matter what, even if you have zero concern about it, needs to happen upfront when you're receiving the offer. Welcome to the No Broke Months for Real Estate Agents podcast. Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating

if you aren't making the money you deserve. So if you're ready making the money you deserve. So if you're ready to end the stressful cycle of working hard for no results, then get started with a proven step-by-step system so that every month is No Broke Months. My name is Dan Roshan. I'm the host of the No Broke Months podcast, which is a show for real estate agents to help you have no broke months. Thanks for joining me. Enjoy the show. What you need to know when dealing with appraisals. Real estate coach Dan Rashan from No Broke Months for Real Estate Agents discusses appraisals. In this episode,

Dan points out what you should look for when dealing with appraisals. In this new No Broke Months for Real Estate Agents episode, Dan points out what you should look for when dealing with appraisals. In this new No Broke Months for Real Estate Agents episode, learn how to handle appraisals properly. The appraisal. Now, the appraisal is just what it is. You can influence someone. Most often, the appraiser is going to coordinate with you to be able to get in that property. So, you should make certain that you meet them there with the comparables. They ethically and technically should not even look at your comparables. But you know what 100% of appraisers are? Human beings. And you know what human beings like to do? We like to be lazy. And if someone's going to do my job for me,

I'll probably still do my job, but I am going to sit there and maybe use that as a crutch to do my job easier. Okay. So this is some of the ways that you can influence the appraisal. Yet, what you really should be doing is setting the seller's expectations that if the appraisal comes in low, then you have one of three choices. The buyer can either say, I'll make up the difference between $100,000, $110,000, pay for it cash, or two of you can part ways, or you can lower the price to the lower number. And the fourth option, actually, I guess there's four options that the two of you can meet somewhere in between. And so you got to be prepared for this, Mr. Seller, because if that happens, then that's

the situation that we're going to be in. So again, 100% of the time, that conversation, 100% of the time, no matter what, even if you have zero concern about it, needs to happen upfront when you're receiving the offer during the ratification process. Because again, we can prevent the predictable problems of the transaction. Now, that may or may not be predictable in today's market. In my marketplace, it's spotty. And what I mean by it's spotty, there's still some pockets in the marketplace where you're getting offers that are going above what I expect for their price. But they're not as frequent or as many of those pockets as there were call it a year ago a year ago in that market and for the market going through the pandemic um and though we an interesting thing

about it was we didn't really come across very many appraisal issues but i had an appraisal concern almost 100 of the time but i don't recall any appraisal issues that we came across now if you do come into that appraisal now those are the four options I gave you that the sellers and buyers can do. You as the agent, you can challenge the appraisal. You can ask for them to reconsider it. Jessica, have you had that experience before where you've been part of challenging an appraisal? So as for my past experience, Dan, what happened was that

when we were representing the sellers, yes, what we do is we actually have like three properties that we do send to the appraisers. And from there, it would actually give the appraiser to see like, okay, that's the worth of the property so therefore we won't have any problems with you know the price decreasing and all that but as for the price issues um not that much because what happens is that if the seller didn't agree with the price with um you know especially when the price decreases then most of the time the buyers

would just back out have you had experience of getting an appraiser to change their mind after it was appraised uh i think that happened only two times but it was because it's my agent's friend so they just yeah they just talk it out so, if you guys get into that situation, reach out to me and I'll get somebody to help you figure it out because I know that we've done it before and we've done it successfully. Thanks so much for listening to the No Broke Months podcast today. Until the next show, I invite for you to be grateful, make good choices, help someone, have the best day of your life and go find a listing.