Anbody Else Notice?

[Mike Garrett RAA]

Mike.....I never tell a client my appraisal is low. I always say, "Hmmmm, looks like the owner's estimate of value was too high".

 

[Mike Simpson]

Mr. Garrett-

Good point, that's the way I present the situation to the client over the phone...don't know why I didn't write it that way.

-Mike

 

[Frederick R. Ruffell]

Blue 1,

It has taken me 3 years to develop 2 large volume "gold" clients here in San Diego. I doubt I could have done this without the support and education of this forum. You bet it takes time... knowledge, knowing what to say, having the info to back it up, etc... If enough of us get on the same page and educate each other and our clients then we will see and hear more of what mike has posted about.

Once you have such clients and you get that phone call from the broker that "needs an appraisal and it has to come in at zzz" it is so empowering to be able to say "that would be fraud and I am not interested", and the silence at the other end is sooooo sweet.

 

[Judy Whitehead (Florida)]

If we get a request where the estimate of value is really high, I will call the lender and tell them that there are no sales in that area in that price range. I will, of course, never give a price range. I think we've finally weeded out our client base now to the ones who also say, well, go ahead, it will be what it is...etc. One of my favorite lines to tell them is, "The underwriters are looking at the same information we are. If I fail to use sales within the neighborhood and the FNMAE guidelines, then not only are they going to ask me why I didn't consider them, they won't loan the money or approve the appraisal anyway."

 

[Pamela Crowley (Florida)]

I LOVE this thread!!!

 

[Joe Birrell (NY)]

It takes many years of patience, and lost business to reach the point you have described, I don't think it signals a change in the way business is being conducted in general. Everytime I get a new customer, the relationship lasts as long as it takes for the first dead deal to show up.

 

[BigBlueGA]

This is one of those weeks I'm glad we have good clients.. out of the last 4 appraisals I have done, all 4 have come in lower than sales price (or owner estimate). Gonna have some happy Realtors this weekend 8O

Screw it, I'm turnin' off the phone... :twisted:

 

[Bemis Pownall]

I really feel for the folks who are doing a FHA loan and the REALTORS
have massaged the contract to include some neighborhood program(you known what I mean). These buyers are spending their last $ for the appraisal. And what do you know the subject is the highest priced listing and now is roughly 15% over the last clone sale(to include the fancy no money down plan).

I wont spend their money when I know the value is not supported.

IMHO these really deserve a "heads up"!

:icecream: