Short answer: Read an appraisal as a written, evidence-based opinion rather than a promised selling price. Check which comparable sales were used, when they sold, how they differ from your home and how the agent explained each adjustment.
Start with the purpose of the appraisal
A real estate appraisal helps a prospective client understand the agent's current opinion of the property's likely selling range and the evidence behind it. The Real Estate Authority's professional guidance says listings need an appraisal and that a written appraisal must be provided before an agency agreement is signed. That makes the written document, not a flattering conversation, the useful starting point.
The range is not a guarantee. Market response can change with timing, presentation, competing listings, buyer finance and the method of sale. Keep the appraised range separate from a council rating valuation, a registered valuation and the final price agreed in a signed sale and purchase agreement. Each comes from a different process and answers a different question.
Check the comparable sales
For every comparable, record the address or property identifier, sale date, sale price and source. Ask why the agent selected it and whether more recent or more similar sales were available. A nearby sale is not automatically comparable if its land, floor area, tenure, condition, outlook, consent history or buyer appeal is materially different.
Ask the agent to explain adjustments in plain language. A useful explanation connects a property difference to observed market evidence or professional judgement and makes uncertainty visible. A weak explanation simply adds or subtracts an unexplained amount until the comparable supports the preferred headline range.
Connect evidence to the proposed campaign
The appraisal and campaign proposal should make sense together. Ask which buyer groups are expected to respond, how the chosen method of sale communicates price and what evidence will be reviewed after launch. If the range is wide, ask what would move the likely result toward one end or the other.
Compare agents on evidence quality, follow-up, communication and the written work plan as well as commission. A seller may reasonably prefer a careful appraisal with visible limitations over a higher range supported by weaker examples. Record questions and follow-up evidence before deciding who to appoint.
Keep the decision and advice boundaries clear
Use the appraisal evidence worksheet to organise proposals side by side. Do not ask the worksheet to calculate a value or rank the agents. If a formal value is needed for lending, relationship property, an estate, financial reporting or another legal purpose, ask the relevant lawyer, lender or adviser what form of valuation is required.
Before signing an agency agreement, read the agreement and obtain advice where needed. Keep copies of the appraisal, marketing proposal and questions answered. If the evidence or campaign assumptions change, update the decision record rather than silently replacing the earlier version.
- Comparable identity, date, price and source
- Explained property differences and uncertainty
- Buyer audience and campaign connection
- Questions still requiring professional confirmation
Put this guide into your private workspace
Use these connected tools to record your own facts and questions. Values stay private and are never sent to an agent without a separate reviewed contact action.
Frequently asked questions
Does the highest appraisal mean the best agent?
No. Compare the evidence, explained adjustments, campaign work, communication, costs and agreement terms. A higher range is not a guaranteed result.
Can this worksheet estimate my property's value?
No. It records evidence supplied by people involved in the sale and does not provide an automated estimate or valuation.
When might a registered valuation be needed?
That depends on the purpose. Ask the lender, lawyer, accountant or other adviser what evidence is required for the specific decision.
Official sources
Sources were accessed and checked on 21 August 2026. Keep the live source and current professional advice as authority if rules or circumstances change.