Real Estate Agent Valuations VS Appraiser's Appraisals

[Naji Boutros]

What is the difference?

I evaluate properties for what they could potentially sell for all the time. Its part of my job. What do appraisers do that is any different?

[Chris Mason]

Originally posted by @Naji Boutros:

What is the difference?

I evaluate properties for what they could potentially sell for all the time. Its part of my job. What do appraisers do that is any different?

 They base it on actual market data. They are constrained by that. The unicorn on the roof of the house may indeed make someone think it is worth more, but if there aren't other houses with unicorns on the roof selling recently and nearby, then there isn't overall demand for unicorns on the roof, and an appraiser cannot consider it as adding value to the home.