Agent gave me comps

[Dublin ohio]

Don't even try to figure it out!
RE agents are sales people and talk and think like sales people -and will say things that are almost comically absurd. The tricky part is they also can have some valuable information, so one has to be able to tell the differemce

I have never understood why so many appraisers have a problem with info from and agent. Whether it be sales or a list of updates. I started before on line MLS access. All we had were the printed books. We got weekly updates. But they were a week behind. Sometimes agents were the best source of current sales. In some areas they were the only source. Of course you always verified.

 

[CGinMN]

3 of the biggest nationwide AMCs (on behalf of Chase?) just pushed out messages to appraisers telling them to report comparable sales presentation by an agent as undue influence. Clear Capital at least cleaned up the message so that it makes sense, the others just sent it off to thousands of appraisers no questions asked. So I guess agents providing their comps is a big no-no now.

 

[Fernando]

I have no problem with agents giving me comps. When they give me the comps, I know it beforehand and I ask questions what insights I should know not given in MLS.
Sometimes they give me outside neighborhood but I'll consider it really fast if it's relevant.
Appraisers should have independent thinking to decide which comps to use. Surprised that lender needs to remind appraiser of agent's influence.
What I don't like is if they push their views on why the sale is good price. I'll be the judge of that.

 

[sputnam]

No one can give you comps. They can give you sales. The appraiser... and only the appraiser.... decides which sales are comps.

 

[J Grant]

I have never understood why so many appraisers have a problem with info from and agent. Whether it be sales or a list of updates. I started before on line MLS access. All we had were the printed books. We got weekly updates. But they were a week behind. Sometimes agents were the best source of current sales. In some areas they were the only source. Of course you always verified.

I don't have a "problem" with it. I am venting how frustrating it is to deal with - nearly 30 years apprising reveals a pattern where at most, 5% of the time they provide a comp worth considering. Usually I would have found it anyway. Which means a lot of lost time over the years I spent wading through their "comps"

 

[Fernando]

When agents give me sales, their sales give me insight in how they convince buyer in offering the purchase price especially when their are few good comps.
The sales in nearby neighborhood give me what they consider is similar to subject and I check them out. Other agents may think same way with those sales.

 

[Tom4value]

When agents give me sales, their sales give me insight in how they convince buyer in offering the purchase price especially when their are few good comps.
The sales in nearby neighborhood give me what they consider is similar to subject and I check them out. Other agents may think same way with those sales.

Bingo! Sign of a good appraiser!

 

[Fernando]

Since agent so accommodating in getting me comps, I got him to do a lot of work for me.
I asked for condo cert and he contacts lender to send it to me.
I asked for contract and he sends it to me (been waiting from lender and still waiting).
Use the agent as much as you can. Agent more motivated than me in finishing my appraisal.

 

[ZZGAMAZZ]

Agents grab comps as far as a year and they convey them to the buyers. Depends whether agent is good in getting appropriate comps which many are not.
Agent today used a $/sf for a comp to adjust to subject and should be worth lot more. That method is new to me.

The $/SqFt factor is affected by diminishing marginal returns; consequently the $/SqFt of a smaller home inevitably is higher than the $/SqFt of a larger home. Agents featured on the "Selling Podunk TV series go on-&-on about that non-factor...

 

[Joe Flacco]

3 of the biggest nationwide AMCs (on behalf of Chase?) just pushed out messages to appraisers telling them to report comparable sales presentation by an agent as undue influence. Clear Capital at least cleaned up the message so that it makes sense, the others just sent it off to thousands of appraisers no questions asked. So I guess agents providing their comps is a big no-no now.



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Very poor communication of the issue.