5 key steps to a successful property appraisal walkthrough

When it comes to property appraisals, think of the walkthrough as your chance to play detective. You’re gathering clues to help crack the case of “What’s this property really worth?”

Whether you’re a seasoned pro or just getting started, mastering the appraisal walkthrough takes practice and attention to detail. But once you’ve got it down, it builds confidence with your clients and ensures you’re delivering the most accurate and informed advice.

In this guide, we’ll walk through (pun intended) 5 key steps to help you conduct a successful appraisal walkthrough. By following these tips, you’ll be able to smooth out your process, avoid common mistakes and deliver insights that make you look like the Sherlock Holmes of real estate. Let’s dive in…

1. Get yourself – and your client - prepared

Before you even step foot in the property, you’ve got to be prepared. Do your homework! Look up your property’s history, note any renovations or upgrades and check what’s happening in the local market. The more you know going in, the smoother things will go.

And don’t forget to prepare your client too. Let them know what you’ll be looking at during the walkthrough and ask if there’s anything they need to fix up or any paperwork they should have handy (like receipts for that new kitchen renovation they did last year). Setting expectations makes everything easier for both sides.

Pro Tip: Make a quick checklist to keep you on track. It’s a simple way to ensure you don’t miss any important details, especially when juggling multiple properties.

2. Pay attention to the key areas

Once you’re inside, it’s time to get down to business. Focus on the big-ticket areas like the exterior, the structure of the home and the condition of the interior finishes. And, of course, keep an eye out for any potential red flags – things like water damage, cracks or signs of pests. It’s tempting to rush, but take your time and do a thorough job. This is where accuracy matters most. 

Don’t forget the spaces people often overlook – garages, attics and basements, You’d be surprised at how much these areas can impact the final valuation.

Pro Tip: Keep an eye out for features that can boost the property’s value, like energy-efficient appliances or high-end finishes. These little details can really add up when it’s time to crunch the numbers.

3. Take photos and upload them to your CRM

Let’s face it – our memories aren’t perfect. That’s why snapping a few photos during the walkthrough is a must. Photos help you remember what you saw and make it easier to explain any issues or stand-out features to your clients later on.

After the walkthrough, upload those photos to your real estate CRM. It keeps everything organised and makes your life easier when it’s time to review the property or share details with the seller. Plus, you can add notes alongside each photo so you’re never left scratching your head trying to remember what was what.

Pro Tip: Agentbox now let’s you upload images directly to your appraisal during the walkthrough. Want to see how this works? Watch our Elevate ’24 Product Release webinar on-demand to see this new feature in action.

4. Ask the right questions

You’re not just walking around the property – you’re also gathering information from the homeowner or seller. Ask about repairs, any ongoing issues or if they’ve got renovation plans. These conversations can reveal things that aren’t always visible during the walkthrough and give you a deeper understanding of the property.

Not only will this help you make a more accurate assessment, but it also shows your clients that you’re paying attention and care about the details.

Sample Questions to Ask:

• Have you had any major repairs done recently?
• Any issues with the plumbing, electrical or foundation?
• Do you have receipts or documentation for any upgrades?

5. Compile everything into a detailed proposal

Now that you’ve gathered all your notes, photos and insights, it’s time to put them together into a detailed appraisal proposal. This is where you summarise the property’s condition, add in your market analysis and give your final valuation. Be sure to explain how you arrived at the numbers and back it up with the evidence you’ve collected.

A clear, detailed proposal builds confidence with your clients and gives them something solid to work with moving forward. Plus, it shows you’re on top of your game.

Pro Tip: Agentbox lets you generate reports directly from your notes and photos, saving you time and helping you deliver a polished final product.

At the end of the day, a successful appraisal walkthrough is all about preparation, attention to detail and good communication with your client. By following these 5 key steps, you’ll improve your accuracy, boost your efficiency and make your clients feel like they’re in good hands.

Looking to improve how you handle appraisal walkthroughs? Elevate ’24 has you covered! Agentbox has rolled out some great new features to help make your walkthroughs smoother and more efficient. Missed the event? No problem! You can still catch all the updates by watching the Elevate '24 on-demand recording. Watch the recording here (or simply enter your details below) to see how these new features can change the way you do your appraisal walkthroughs.