What is the role of an appraiser during an appraisal?

The role of an appraiser is fundamentally to determine the market value of the property. This involves conducting a detailed analysis of the property’s characteristics, comparing it with similar properties, and considering various market factors that could influence value. The appraiser aims to provide an objective, impartial, and professional opinion on the property's value, which serves essential purposes for lenders, buyers, and sellers alike.

This determination of value is critical for ensuring that all parties have a clear understanding of what the property is worth, which can inform decision-making processes regarding buying, selling, or financing a property. The appraiser’s findings can significantly impact loan approvals, pricing strategies, and negotiations within real estate transactions, ensuring that the value reflects current market conditions accurately.

While there are roles in real estate that involve representing sellers or negotiating prices, these responsibilities typically fall to real estate agents or brokers rather than appraisers. Appraisers maintain a neutral stance and must adhere to ethical standards that prevent them from advocating for any party involved in the transaction. Their focus remains strictly on providing a valuation that reflects the current market conditions objectively.