Both market value and appraised value are utilized in the dealings of residential homes, commercial property, retail buildings, farms and land. However there are distinct differences between the market value and the appraised value of real estate. Market values are consumer-driven and appraised values are driven by experts. The appraised value of a property describes the determination of an exact number regarding its value. Appraised values are based on gathered data and the professional judgment of the professional conducting the appraisal. The market value has more variance than the appraised value. Unlike the appraised value, buyers have influence over the market value of a property because a property is only worth what a buyer is willing to pay.