What to Know About the Appraisal Process
Agents should provide appraisers with surveys, upgrades and market insights while verifying credentials and being present during the visit.
CHICAGO — Understanding the appraisal process is essential to guiding clients with confidence. Appraisers play an important role in real estate transactions, yet many agents don’t fully understand how to collaborate with them effectively.
In an episode of the National Association of Realtors®' Drive With NAR podcast, host Marki Lemons Ryhal spoke with two Chicago-based real estate professionals about how new agents can build better relationships with appraisers and help ensure smoother closings: Lutalo McGee, owner and managing broker of Ani Real Estate and president-elect of the Chicago Association of Realtors®, and Maureen Sweeney, a residential appraisal instructor, author, and 2025 chair of the Real Property Valuation Committee of NAR.
Top takeaways from the conversation
Understand what an appraisal really is
“At its core, an appraisal is an opinion of value,” Sweeney said. “But the key is who is developing that opinion. A licensed or certified appraiser provides credible assignment results and must remain independent, impartial, and objective.”
Appraisers are required to follow the Uniform Standards of Professional Appraisal Practice (USPAP), and if they’re members of NAR, they’re also bound by the Code of Ethics. These standards and codes ensure that an appraiser is acting independently of all entities that are invested in the sale, which is essential to protecting public trust in the real estate process.
Yes, you can talk to the appraiser – and you should
One of the biggest myths in the business? That agents can’t speak to appraisers. “That is fiction,” McGee said. “In fact, they absolutely should communicate with an appraiser as an advocate of their clients.”
McGee recommends providing appraisers with relevant documentation before they even visit the property. This can include:
- The full legal address and description
- A copy of the survey
- A list of recent improvements or upgrades
- Details about offers received or any bidding wars
- Condo association documents (if applicable)
“The more information [an appraiser] has, the more empowered they are to make a good decision,” McGee said.
Why appraisals can vary
Two appraisers might not always arrive at the same value – and that can be confusing for clients.
According to Sweeney, the “effective date” of each appraisal matters. “Did the homeowner show up with an appraisal from a year ago and compare it to something valued today?” she asked. “If the market has shifted, the values will reflect that.”
Another factor is how each appraiser defines the neighborhood and market boundaries. That’s where agent insight can be incredibly valuable. McGee noted in the conversation that she makes sure she shares her market knowledge with the appraiser.
When the appraisal comes in low
If the appraised value comes in under the contract price, it’s time to do a deeper analysis.
“I actually read through the appraisal,” McGee said. “I look at the comps, the adjustments, and any narrative explaining the choices. If I believe something is off, I gather additional comps and suggest a reconsideration of value.”
A reconsideration is a formal process that allows the lender to ask the appraiser to revisit the valuation based on new, pertinent data.
Watch out for red flags
Agents should always verify who they’re working with. If someone claims to be an appraiser, check the Appraisal Subcommittee’s national registry to confirm their license is valid.
McGee recently encountered a situation where someone falsely identified themselves as an appraiser. “They asked me what price I was trying to get to,” he recalled. “That was a red flag. Appraisers are supposed to be unbiased.”
Sweeney confirmed that using price as a search criterion is a violation of professional standards. “If we use price to guide our process, we have a preconceived notion before even doing the work,” she explained. “That’s not how appraisals work.”
Final tips for agents
- Always be present for the appraisal: Clear snow, ensure access and be available to answer questions.
- Take the PSA course: NAR’s Pricing Strategy Advisor (PSA) certification can help agents price homes more accurately – and understand how appraisers think.
- Document everything: Email is the best way to provide appraisers with property information, as it leaves a time-stamped paper trail.
As Sweeney put it: “We’re both professionals doing our jobs. You’re advocating for your client. I’m here to protect public trust. Open communication between us is a good thing.”
Share NAR’s Consumer Guide on the Appraisal Process.
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