Luxury Listing Specialist - Dominate High End Listings In Any Market

Sellers often think their home is worth much more than it really is worth.  How does an agent determine asking price on a unique or luxury home?  Are online evaluations more reliable than an updated appraisal?  Can the intricacies of home appraisals ever be replaced by algorithms? On this episode, I tackle these questions with Mark Morgan, a veteran real estate appraiser who specializes in luxury homes.  He outlines the important factors that should always be considered when evaluating properties.   I recommend getting a pre-appraisal before versus relying on an online evaluation. Algorithms are taken as accurate, but nothing could be farther from the truth. -Mark Morgan   Takeaways + Tactics Most of the time, online evaluations quote less than 50% of the actual price of luxury properties. Appraisals are an opinion of value, and evaluations should always factor into account the specific features of a property. To determine value, appraisers need to consider scarcity, desirability, utility, and purc