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Another Real Estate Agent Skippy

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JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
I just finished an appraisal on a sale. The listing agent didn't bother to measure the house. She took the square footage from the county website. The house was listed for $999,000 and the listing said it was 3060SF. She priced it based on the incorrect square footage.

The house is 4600SF. They left around $425,000 on the table. I'm sure the buyer is happy! I bet the seller will never know.

The listing agent probably just thought they were lucky to get this house under contract in 20 days when the typical marketing time is around a year.

:shrug:
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
That much change on the table, you can bet that if the seller ever finds out, and probably will there will be a law suite filed. Sloppy sales agents are their own worst enemy.
 

Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
That much change on the table, you can bet that if the seller ever finds out, and probably will there will be a law suite filed. Sloppy sales agents are their own worst enemy.
And it will be a slam-dunk case in NC; the agent is toast.
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
And it will be a slam-dunk case in NC; the agent is toast.

I attend a good CE Law update every year and they always discuss all the recent cases in Ohio where lazy agents are busted for the dumbest things. It is astounding.
 

Offshore

Senior Member
Joined
Dec 25, 2005
Professional Status
Certified Residential Appraiser
State
North Carolina
You folks are overdue for a category 4-5 storm; if you get one, goodbye evidence, unless they subpoena you for your file. :rof:
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
The seller deserves it. How the heck can they not know their house is larger than 3,000sf when it is nearly 5,000sf. They've got to be either complete idiots (doubtful since they earned the money along the way to build that house), or there is more to the story.
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
I doubt if the lazy ones have files to subpoena.
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
I actually called the agent, I got her assistant. (She has an assistant and still can't be bothered to do her job!!) I asked if I was missing something since my sketch said 4600SF and the listing said 3060. She said I was probably right. I flat out asked if they measured the house or just took it from the county website. She admitted it. She said she knew they weren't supposed to, but they did anyway.

On Monday morning at the closing table, there is going to be a buyer that thinks I am the best appraiser in the world!!

(Of course he is right...) :rof::rof:
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
You folks are overdue for a category 4-5 storm; if you get one, goodbye evidence, unless they subpoena you for your file. :rof:

The big storms rarely come straight in from the Atlantic. They usually cream Wilmington first, then make their way up the beach.
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
The seller deserves it. How the heck can they not know their house is larger than 3,000sf when it is nearly 5,000sf. They've got to be either complete idiots (doubtful since they earned the money along the way to build that house), or there is more to the story.

They aren't local. They bought this house about 6 or so years ago and are still making a profit. The house has likely been in a seasonal rental program making 100+ a year. They've probably only spend two weeks a year in the house.

But I'm certainly not defending them. The house next door which is a model match is listed for 1.6MM. I used that as comp #4.
 
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