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An appraisal of value is one person's opinion of value at an exact moment in time. No two independent, non financing related appraisals, agree. Appraisals have a tendency to favor whomever is paying for it. The next closed transaction of a comparable property will change the number.
An appraiser is using the same data that real estate agents use to determine value. Comps, square footage, lot size and tax records. The primary difference is that the appraiser has not seen the interiors of the homes being used for comps and a Realtor should have and should be able to articulate.
It is a crime for an Realtor to benefit from a referral to a lender. Having said this, most Realtors recommend certain lenders who can get the job done. By job, I mean funding on closing date. Nothing like an extended or " dry closing" closing while everyone sits and waits for the money to arrive, via wire.
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