Appraisal

An appraisal is a key first step in the selling process because it gives homeowners an informed view of their property’s likely selling range. Unlike a formal valuation, an appraisal is based on the agent’s market knowledge, recent comparable sales, buyer demand and the unique features of your home. Agents also consider upcoming listings, local supply levels, buyer sentiment and broader market movements. A strong appraisal goes beyond numbers by explaining how presentation, timing, marketing and property improvements could influence the final sale price. However, appraisals can vary between agents, which is why comparing multiple perspectives helps sellers identify who understands the market best. The accuracy of an appraisal depends heavily on the agent’s experience and ability to interpret neighbourhood trends. An appraisal should guide your pricing strategy, help you set expectations and inform your decision about the right time to sell.

Practical Example

You invite two agents to appraise your home. Agent A gives you a broad price range without much explanation and seems unsure about recent local sales. Agent B arrives prepared with a detailed comparative market analysis, recent comparable sales and data on current buyer demand. They walk through your home, point out specific features that will attract buyers and suggest small improvements to strengthen the campaign. Their appraisal includes a realistic price guide supported by evidence and a strategy for generating competition. When you list with Agent B, strong buyer interest leads to multiple offers and a final sale price above their estimated range, confirming their expertise.

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