Quick Takeaways on Property Appraisals

  • The National Association of REALTORS® encourages independent, credible valuations, recognizing them as an essential component of the real estate industry.
  • Appraisers, as valued members of NAR, help shape policy and inform other REALTORS® on issues impacting appraisals and valuations. 

NAR Policy on Appraisals

What is a Property Appraisal? 

Appraisal and valuation are extremely important steps in any home buying and/or selling transaction. A professional appraiser will use the information on the home and current housing market to provide an appraised value, which is very important to the home loan process. There are different methods to valuing a home, and the value of the home is often not the same as the price or cost.

Property Appraisal Resources for REALTORS® 

NAR Provides members with a great deal of appraisal resources and benefits. Appraisers can create a professional website, participate in NAR governance, receive two appraisal related designations, General Accredited Appraiser (GAA) and Residential Accredited Appraiser (RAA), and access other benefits. We also highly recommend the use of RPR, The REALTORS® Property Resource®.

National Association of REALTORS® members (appraiser or otherwise) are invited to join us for the regular Supporting Your Value Webinar Series to hear updates from the experts. 

The National Association of REALTORS® also supports appraiser independence. Please read our Appraiser Independence Page and our Responsible Valuation Property Policy for our complete stance.

The agent/appraiser relationship is an important one, and NAR has multiple resources for REALTORS® to improve communication between the two. Please visit the Agent/Appraiser Communication Resources Page to find resources to help.

Appraisal Management Companies (AMCs) are an option for lenders and appraisers to consolidate the process of obtaining a home appraisal. NAR supports the regulation of AMCs through FIRREA, the Financial Institutions Reform and Recovery and Enforcement Act.

See References for more information.

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