Realtors Meeting Appraisers at Every House to Give Comps

[vicky1202]

Anyone else finding this happening on a regular basis? In the last month, I have had a realtor insist on meeting me at almost every house that I am appraising so that they can give me "the best comps in the area". What's up with this? Isn't this just another type of coercion? Maybe I am wrong, let me know what your thoughts are on this situation. If you are experiencing this in your areas, how are you handling this?

Thanks.

 

[Ken B]

How is someone offering information for you to consider a form of coercion? Coercion would be "use these sales as your comps or I'll make sure you will never get another job in this area."

 

[Mountain Man]

That's a good Realtor doing their job representing their client.

 

[vicky1202]

Okay, just seems a little odd to me that all of a sudden every realtor is doing this - I don't mind unless they are giving me comps that are 2 miles away when there are sales within a mile and I have had that happen. Just checking to see if this is the norm now.

 

[TEL2002]

Just tell them in advance that you will only consider their best 2-3 comps. You do not want nor will you accept a list of 10-15 sales to consider. This makes they have to filter their own work...and it makes it easier for you to respond in your report to only 2-3 items instead of 10-15.

 

[Gregt]

Take them and smile. If nothing else it gives you the chance to explain why certain sales were not considered---you can either do it in your original report or you will most certainly have to do it later. Save yourself some time and just get it out of the way now.

 

[panappr]

That's a good Realtor doing their job representing their client.

I agree with this..... It also clears the air so they can't come back and ask for a reconsideration with all their additional sales.

 

[vicky1202]

I guess coercion was not the right word - although I do sometimes feel like the comps chosen are trying to lead me to a higher value than is the area is supporting.

 

[Mountain Man]

I agree with this..... It also clears the air so they can't come back and ask for a reconsideration with all their additional sales.

That's a good point too. In doing ERC's the appraiser is supposed to ASK if the owner has any data from their agent. The relo companies really don't like it when the customer says the appraiser wouldn't consider XYZ sale.

 

[vicky1202]

Thank you, those are great suggestions. Basically what I have been doing, just wanted to clarify and make sure I was doing the right thing.