Ep.14 - Taylor Parks: Working With A Home Appraiser

In this Agent 251 episode, Jason Will talks with Taylor Parks from Coastal Appraisal, home appraisers in Fairhope and Mobile, Alabama. Taylor shares his entrepreneurial journey story, what his firm does, and what they focus on. Since 2008, the appraisal business and the realtor and appraiser relationship have changed. Learn how working with a proactive, professional, experienced and independent appraiser can be a great asset to the agent and home seller. Once called "deal killers", Taylor shares his feelings of how this home appraiser "nickname" is an old-school mindset and a myth that could be detrimental to getting the right price, best deal and satisfactory experience for yourself, home seller and buyer.

Topics Covered

> The importance of presenting the appropriate expectations for all parties in the buying and selling process.
> Appraisals are now rooted in data and analytics moreso than "good ole' boy" networks of the past.
> Market value is based on what the "typical buyer" is willing to pay. Not your specific buyer.
> The importance of knowing the exact square footage of your seller's homes. Don't rely on tax records and frequently flawed MLS data.
> Realtors need to learn how to measure square footage as accurate as a home appraiser.
> The benefits of a pre-listing appraisal for the home seller and the whole local housing market.
> Updating appraisers with significant home improvements are important and useful.
> Inside pro appraisal tips on residential subdivision appraisals versus farmland.
> The pros, cons, perceptions, and costs of a home with a pool.
> The difficulty of appraising some waterfront properties in Mobile and Baldwin County.
> When it comes to price, working with a data-focused appraiser, the appraiser could be the "bad guy" with the seller but be able to explain a price discrepancy.

Quotable Quotes

- Appraisers have to follow the same guidelines and our job is to determine market value for a property. - Taylor Parks

- We're not deal killers. Believe me, we don't want to kill deals because it takes up more time. - Taylor Parks

- We've got a license that we've got to protect and we've got to make sure that we have data to support that sale price. We can't just rubber stamp things. - Taylor Parks

- Homes have to be sold twice. You got to sell to the buyer and then it's got to clear through the appraisal process. - Jason Will

- If a buyer is borrowing money, we're gonna be part of the process. So there's no getting around that. - Taylor Parks

- Market value is what a typical buyer is willing to pay. Not necessarily your specific buyer. - Taylor Parks

- Most listings that I see on MLS there is going to be a flaw in them and probably the square footage might not be right.

- So on the rare occasion that I must kill a deal, I truly believe that I'm doing the right thing and I don't have the data to do anything different. - Taylor Parks

- Let's get rid of these bad relationships between appraisers and agents. Let's work together because I promise you guys want the deal to work, we want the deal to work if at all possible. -
Taylor Parks

Looking for an estimate or want to work with Taylor Parks and Coastal Appraisal? He can be reached on his cell phone at 251-259-7242, or call his office at 251-621-7077.

Coastal Appraisal website

Contact Jason Will Real Estate
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Agent 251 is recorded and produced at Deep Fried Studios.
Producer: Johnny Gwin