Why Real Estate Appraisers Are the Only Objective Party in a Transaction
Buying or selling a property is a significant financial decision that involves parties such as lenders, agents, buyers, and sellers. All parties have a financial stake in the transaction, except the real estate appraisers, who are the only objective party. These professionals do not benefit financially regardless of whether the deal closes or not. In this blog post, we will explore the roles played by each party and their financial involvement in a real estate transaction. Real Estate Agents Real estate agents work with buyers or sellers to assist in the sale or purchase of a property. They earn a commission based on a percentage of the sale price. Hence, it's in their best interest to ensure that the property sells for as much as possible. They are also incentivized to close deals as quickly as possible, resulting in potential conflicts of interest. As such, they may be tempted to work in favor of one party over another to expedite the transaction. Lenders Lenders provide financi...