Has anyone attempted to bring Ethics Violations against a Realtor for continually making negative remarks against you?

[JeffSH]

Because irrational behavior isn't within the definition of market value. And central to the problem is that "free money" (for all practical purposes) allows irrational purchase decisions. Were the interest rates at traditionally higher figures (5-8%) then these purchases wouldn't happen. The price would be lower or the buyer would be looking at cheaper properties. The Fed, more so than anyone, has distorted the market.

**The Fed lowers interest rates, even more, in order to stimulate the market. This allows buyers to afford homes they couldn't have six months ago. At the same time, we are going through a pandemic and supply is at the lowest rate in history. People are lining up to buy houses because nothing's on the market and they want bigger space due to the shifting social environment.**

Me: Let's analyze prices, listings, interview realtors, and understand what is happening. Maybe these large contract prices are understandable.

You: Nothing to analyze. It's all just irrational free money. Nobody knows what they are buying.

 

[Mejappz]

I’m appraising one this afternoon that’s under contract for 515K.

It is about 60K overpriced. Oh yeah it was listed for 499K. Yes, people don’t know what the hell their buying.

 

[Jayjay25]

This triggers me super hard. The market is ON FIRE right now and it's because of demand, not people being irrational. You don't know more than the market. The market is what it is. If there are five people lined up to put in an equivalent offer, and the seller isn't even using the highest signed offer, how can we as appraisers say that the home isn't worth the accepted contract price?

I've only had to come in low a few times over the past six months and it's mostly because an extremely similar home sold very recently and I can't reasonably put weight on something else. You have to make time adjustments of 1%+ per month plus just to get reasonable ranges, but I review so many appraisals that say the market is stable and do ABSOLUTELY NO ANALYSIS. I hope you aren't one of those appraisers.

Sorry for not answering your question.

What should make market values increase is cash above market value not offers above market value.

 

[JeffSH]

I’m appraising one this afternoon that’s under contract for 515K.

It is about 60K overpriced. Oh yeah it was listed for 499K. Yes, people don’t know what the hell their buying.

People don't give a crap about the dollar amount, it's all just an equation based on the monthly payment. People want to buy the best house that they can afford. People can afford more now, and basic supply/demand econ 101 principles says that low inventory means higher prices.

How can you say people don't know what they are buying and that the market is being irrational? So pompous.

 

[Sandra Koutsopoulos]

When I renewed my real estate license last month, I recall specifically the point about not bad-mouthing other real estate professionals, so there it is in writing. Seems that the newbie agents are more apt to not understand the value of maintaining good professional working relationships with appraisers and others. Seems like once they've read all the mandatory licensing stuff, passed the exam, got the license, they are DONE! In the past 23 yrs I've only experienced one wretched bad-mouthing lying incompetent Realtor twit who wanted to take me on, and the next time an appraisal order came in with her involved as agent, I cancelled the appraisal and told the ordering company why. Actually, if someone is saying and posting in MLS untrue negative stuff, isn't that libel or slander? And perhaps a letter from an attorney along with that quote from the Realtor ethics mandate would put the offending agents and brokers on notice that they are subject to lawsuit for damages. We're all busy now, but in the slow times, agents' previous negative comments may affect your income due to their libel or slander.

 

[Tru Red]

I’m appraising one this afternoon that’s under contract for 515K.

It is about 60K overpriced. Oh yeah it was listed for 499K. Yes, people don’t know what the hell their buying.

People know.......they just don't care.

People are VERY WILLING to use someone else's money (the lender) to buy a home.

Force their hand by making them insert their own cash into the transaction and many of them run away quickly.

They know if things go upside down they can file BK and walk away (or stay in many cases for free).

The appraiser is the bad Guy/Girl for even suggesting the home in contract might be overpriced.

 

[JeffSH]

What should make market values increase is cash above market value not offers above market value.

This means that in order for homes to appreciate, people need to overpay for them. I don't agree with that logic.

 

[J Grant]

WRT size sf and puffery -
(I used to sell RE at one time btw )
RE agents are often told by their brokers NOT to personally measure a house, because doing so would mean liability for the result. Therefore , unless an agent hires someone to measure, the agent says things like SF is from public records.

Meanwhile, whether it is ignorance or attempt to make house appear larger/better , agents often include the garage in the sf of the living area, double count a detached guest house in the main living sf and then as a guest house, call an above ground pool a pool and so on.

Meaning buyers are often not well informed wrt what they are actually getting, The the CMA prepared by the RE agent is a fantasy, cherry picked superior sales shown to buyer to convince they they are getting a good deal.

 

[JeffSH]

They know if things go upside down they can file BK and walk away (or stay in many cases for free).

This is INCREDIBLY biased. wow. They had a 'racist appraisals' segment on NPR yesterday where a black person mentioned the appraisal speculated that the potential buyer might lose their job and not be able to pay. I thought nobody could ever be so silly and biased, yet here you are.

 

[Tru Red]

This is INCREDIBLY biased. wow. They had a 'racist appraisals' segment on NPR yesterday where a black person mentioned the appraisal speculated that the potential buyer might lose their job and not be able to pay. I thought nobody could ever be so silly and biased, yet here you are.

Can ANYONE...ANYONE tell me what this person is talking about?