Ross (CO)
Senior Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
There has been a bold and dynamic resurgence of comp check discussion in the past week or two. Maybe it has something to do with the lunar cycle. There are many persons who express the total angst, misery and torture that such client requests will create.....and another camp that may not be as afflicted by it all. I am in the latter camp. The faxed or emailed requests can easily be ignored. It's the incoming phone call that I like, because I already know what the outcome of that call can mean for me. The only outcome.....will be a pre-paid order for a full appraisal. My challenge is to now guide the caller to that outcome .
I start with asking a few questions about them. I ask how they learned of me (my phone #). I tell them a few things about my time in the business, the market I serve, that I am the only person who visits the properties and most reports are completed and sent within 48 to 72 hours of my walking out the front door and that I send out reports as PDF's to their given email address.
Without too much pause I now ask them a series of questions about the subject property, its history, its market, what makes the property special in that market, what the intended use of the report is, who (all !) intended users of the report are. I ask about what their initial research has comprised. I ask about the pictures of the property which the homeowner has sent them.. I ask about the other appraisal report that was done in the last few weeks or months. I ask when the property was last purchased and at what price.......If the caller is getting tired of answering questions, that's good. I bring things to the usual and clear recognition that this person calling me really does NOT have much information about this property, at all !
Long ago I had asked for the address.....and by now I have the county's info on the property on my screen. I have looked at my calendar and I know when the soonest date is that I can suggest for my visit to the property. Any time the caller returns to any effort to steer back to his/her desired comp check.....I ask another question that requires their active reply. I NEVER go back to any entertainment of a comp check. I then summarize that they have provided me with so little information about the property....that the only thing for me to really do is an appraisal, as I am going to have to see things for myself and bring together the market data that fits this property.
I have them get a pen and paper handy, and take this down, and give them my fax # and email address. Now it's geting down to crunch-time. I repeat when I could see the house, the expected turn-time window, ask if the h/o IS ready to proceed and then say that I simply need to know, if....."You prefer that I collect my fee from the homeowner at the time I visit their property, or is it simply your company policy to send out my fee at the time you send the appraisal order" ? I shut up, and let them make their choice. Either source of my fee payment is acceptable. There's no turning back now. They pick one, or the conversation is concluded. I still thank them for calling, invite them to consider me again if they have future appraising needs in my market area, and repeat that they CAN call me back in the coming minutes or hours if they reconsider and DO NEED me to get their report started !.........Take care, Bye.
Some will say that such a call will occupy an hour of time. Wrong. It can happen in a mere few minutes. I do not do comp checks, nor give "ranges of value", nor spew out market sales data which is supposed to gain me favor and create optimism. It makes no sense to me to get a comp check order, express the intended use and users, define a S.o.W., do that research and print and keep all related papers, communicate a value opinion, sign a complimentary certification for that "comped" value and the create a new workfile folder for the box.........and do all that for-free ! If they want free, there is always zillow.com ! Don't think that a half-dozen such calls come in here daily. They surely do not. They are quite rare, and yet they are welcomed. I already know the outcome......and I just have to make that happen. Do I get it my way every time. Absolutely not. Do they get a comp check from me. Absolutely not.
Brandon,....you simply need to decide how you want it to be.
I start with asking a few questions about them. I ask how they learned of me (my phone #). I tell them a few things about my time in the business, the market I serve, that I am the only person who visits the properties and most reports are completed and sent within 48 to 72 hours of my walking out the front door and that I send out reports as PDF's to their given email address.
Without too much pause I now ask them a series of questions about the subject property, its history, its market, what makes the property special in that market, what the intended use of the report is, who (all !) intended users of the report are. I ask about what their initial research has comprised. I ask about the pictures of the property which the homeowner has sent them.. I ask about the other appraisal report that was done in the last few weeks or months. I ask when the property was last purchased and at what price.......If the caller is getting tired of answering questions, that's good. I bring things to the usual and clear recognition that this person calling me really does NOT have much information about this property, at all !
Long ago I had asked for the address.....and by now I have the county's info on the property on my screen. I have looked at my calendar and I know when the soonest date is that I can suggest for my visit to the property. Any time the caller returns to any effort to steer back to his/her desired comp check.....I ask another question that requires their active reply. I NEVER go back to any entertainment of a comp check. I then summarize that they have provided me with so little information about the property....that the only thing for me to really do is an appraisal, as I am going to have to see things for myself and bring together the market data that fits this property.
I have them get a pen and paper handy, and take this down, and give them my fax # and email address. Now it's geting down to crunch-time. I repeat when I could see the house, the expected turn-time window, ask if the h/o IS ready to proceed and then say that I simply need to know, if....."You prefer that I collect my fee from the homeowner at the time I visit their property, or is it simply your company policy to send out my fee at the time you send the appraisal order" ? I shut up, and let them make their choice. Either source of my fee payment is acceptable. There's no turning back now. They pick one, or the conversation is concluded. I still thank them for calling, invite them to consider me again if they have future appraising needs in my market area, and repeat that they CAN call me back in the coming minutes or hours if they reconsider and DO NEED me to get their report started !.........Take care, Bye.
Some will say that such a call will occupy an hour of time. Wrong. It can happen in a mere few minutes. I do not do comp checks, nor give "ranges of value", nor spew out market sales data which is supposed to gain me favor and create optimism. It makes no sense to me to get a comp check order, express the intended use and users, define a S.o.W., do that research and print and keep all related papers, communicate a value opinion, sign a complimentary certification for that "comped" value and the create a new workfile folder for the box.........and do all that for-free ! If they want free, there is always zillow.com ! Don't think that a half-dozen such calls come in here daily. They surely do not. They are quite rare, and yet they are welcomed. I already know the outcome......and I just have to make that happen. Do I get it my way every time. Absolutely not. Do they get a comp check from me. Absolutely not.
Brandon,....you simply need to decide how you want it to be.
