Black Balled By A Real Estate Office

[larryhaskell]

We were having a delay in setting up an appointment with the listing RE agent when we got a call this afternoon from someone representing a good client that cares about value. This person indicated that they had received a call from someone associated with the listing office requesting that our office not be allowed to complete the appraisal. Apparently the client wasn't given a reason why they didn't want us because the lady asked us why the RE would request something like this. Our reply was that maybe we are known for appraising properties for what we believe their worth which may not be the same as the sale price. The lady was amused by this but she did instruct them to call us to set up an appointment.

There may be another reason though. I have recent model match properties (1439 Sq Ft) in the range of $206,000 to $214,000 and the pending sale price for this property is $243,000. In the same area there is a 1934 Sq Ft home that just sold for $240,000. This coulnd't be the reason could it?

 

[Mountain Man]

Glad your client backs you up like that. That's gotta make you feel good.... send 'em some flowers to say thanks for the honest business.

I bet the agent will end up taking the loan else where, and they know who to call for an appraisal.

 

[Caterina Platt]

Larry,

I would say you have built a good reputation for yourself. Danged scam artists!! :twisted:

 

[David Mullen]

Keep detailed notes about who you talked to, what was said, who reportedly said it etc.

At some point in time you will be, or maybe already have been damaged by losing an appraisal assignment. Those notes can be real valuable in the future.

At that point, head for an attorney and plan for your retirement in some resort town.

 

[Mike Simpson]

David gives some very good advice.

Can you say; Restriction of trade / Unfair Business Practices?

On the flip side--we've got agents and brokers we won't work with.

 

[Walter Kirk]

Be sure to tell all of the local apprairs that you know about the situation. Anyone dealing with this office should be aware of their behavior. Who knows, maybe some of their deals will die because appraisers will be aware of their reputation.

 

[David Mullen]

A friend who is an attorney told me a while back that an agent telling others that they should not use you because you are a "bad" appraiser or any other such detrimental statement can be guilty of malicious slander.

Another agent passing that on by saying that "agent 1" said "...." about you can be guilty of negligent slander.

That can be useful when it comes time to sue one or all of them because agent 2 may be glad to testify if you leave them out of the suit.

I do not know whether this was sound advice but it is certainly something to think about and pursue if this is going on and damaging you.

You may find that by poking around a little, one or more of those low lifes may have been bad mouthing you for a while and caused you to lose some work and you might not have even been aware of what was going on behind your back.

 

[Farm Gal]

:rofl:
Walter:

Just don't and stand in front of the door to the lender when you DO make it clear to your competition that YOUR office will not play ball.

I mean, you could wind up with footprints on your forehead as that lender is mobbed by the legions of hungry appraisers seeking employ from any source!

Granted that this lender backed Larry this time, a worthy client eligible for great thanks, indeed!

However broadcasting to the scum - or (thinking a bit further) for that matter to the REPUTABLE appraisers in an area is a sure way to get trampled!

 

[larryhaskell]

There is a little update info. Last friday, our contact person for the lender who is an appraiser called the RE agent and was told in no uncertain terms that RE agents have no say in the selection of appraisers. He was willing to reassign the appraisal if the LO or borrower requested it but the closing date would be set back. Later on friday, I'm sure reluctantly, the agent called to set up an appointment. As we typically do, we requested a copy of her CMA or any comps she wanted us to consider. She indicated she would bring her CMA because she was sure she could find it. Yeah right, don't agents keep a file on each transaction. Shouldn't a CMA be easy to lay your hands on at a moments notice.

The strange thing about this whole deal to me is that to my knowledge, I have never appraised a property involving this agent let alone trying to remember if I killed the deal for her. This would suggest to me that it is likely an office wide policy to not use me. However, if given a choice, I would rather deal with this issue than being recognized as the appraiser of the year by this RE office.

Monday morning a chill will spread over Reno I'm sure.

 

[Mike Simpson]

Larry-

Agents are required to keep detailed records involving every transaction for a period of three years--those files are required to be kept at the brokers office--address listed with the Department of Licensing.

I ran into a similar situation some years ago. The bank is a monster (buys a lot of secondary product) and has a reputation for attempting to destroy their competition.

After a third incident I contacted a lawyer--problem was the attorney took my money and did nothing measurable for 6 weeks (although I told him time was of the essence). he said he'd, "been conducting research" (yeah right). I paid him just to get rid of him.

The second attorney did marginally more, but his phone calls and inquires got the company off my back and they've been polite ever since. They've even given me work on rare occasions.

-Mike