Black Balled By A Real Estate Office

[Farm Gal]

Larry, That is GREAT!

I DO concurr with Davis post however: Take notes with names and dates and "who saids".... keep them safe and in a file you can find a decade from now.

On an occasion (mentioned previously on this forum), our office lost 80% of our income from our major client, through a similar bad-mouthing scenario.
(Which resulted in our office forcedly diversifying our client base ).

That was over 9 years ago.

About a year and a half ago year I found through the grapevine that that long lost client was badmouthing me.

In an actionable manner.

You see to the best of my knowlege I had never produced an appriasal for that office... my spouse was the appraiser who did all the work for that company.

They were badmouthing MY appraisal skills.

I chose not to take legal action but enjoyed instead going into the offending office in person, and informing not only the assistant manager and the manager (who was cowering in her office) and anyone within earshot including their borrower cleints who happened to be in the very large 3 unit strip mall room... my voice does carry :twisted:

that if I EVER heard another whisper of adverse commentary that I WOULD be spending the rest of my days on a Belize beach courtesy of Countrywide Loans (pre-Landsafe days folks ).

I have no idea what other business the fact that my spouse recommended a foundation inspection be performed <_< has cost us... I do know he was right... saw it myself. THe home inspector you see had NOT commented on the finshed basement wall bowing. I do know the cause of the dissent was that we were 'blackballed' by the two promenant agents at a major Realty office who sent most of their business to that lender.

I know that we eventually rebuilt a business near from scratch.

~~~~

And I sort of wish that they would bad-mouth me again.
Or my spouse.
Or the company.

or my dog.

...white sandy beaches...

 

[Pine Tree]

Wow
I have been black balled on many occasions.. and have always thought it the price of doing a good job and the reality of not being a real estate agent's pawn.. And figured that the lenders who worked with THOSE real estate agents were not clients I wished to have..

HOWEVER.. saying nasty/untrue things about my expertise as an appraiser is a different matter.. that has also happened to me and as soon as I get wind of it, the attorney sends them a warning message. So far, to my knowledge no more has been needed.. but, like Lee Ann says, if more is need, it could be a positive life changing experience. Peace! Wendy

 

[larryhaskell]

As the world turns continues. This has been an interesting day but for this to make sense I need to give you a little info about two properties we appraised.

Property 1 (AKA 123 Wealthy Lane)

Two or three weeks ago I appraised a house in southwest Reno that was selling for $3,800,000. To my knowledge and an extensive search indicates that there has never been a house sell for that much in Reno. The highest sale to date was $3,500,000 and that was in 2001. This property was also listed by ABC Realty which is the one wanting to black ball me. I appraised the property below the sale price.

Property 2 (AKA 345 Average Drive)

My daughter appraised this property which is located on the same street as I inspected today. We could not support this sale price. This appraisal was done for the same bank ( AKA Good Bank) that is making the loan on the property I inspected today.

I meet the RE agent this morning and complete my inspection. She was waiting for me in the kitchen. I was surprised because she was very friendly and she wanted to chat. We discussed general real estate info but nothing about the subject property. She asked me if I worked for Happy Bank and I said no I'm a fee appraiser that can work for anyone. She then said, you know I work with an LO named Betty Smith @ XYZ Mortgage and she tells me that she can never find an appraiser so she makes me find the appraiser. She then asked me if I do work for XYX Mortgage and I told her I did. In fact, the LO I work for there has become a good friend over the years and he does my loans for me. At this point she asked me for my card because she wanted to give it to Betty Smith @ XYZ Mort and she would likely send me some work. I did give her my card although I don't believe that any good will come of it.

Then she started babbling about other things and all of a sudden she brings up 123 Wealthy Lane. Talks about how it may not close and she may end up getting the listing yada, yada, yada and she also indicates that the owner of the property told her that the appraiser had to make three trips to the property and she was sure that he (meaning me) didn't know what he was doing. I actually made two trips because the homeowner had to leave so I finished the inspection a few days later. There is no doubt that she knows that I did the appraisal on the property.

Then she brough up 345 Average Drive. It was just down the street from the subject property and she wanted to use it for a comp for her property because even though it was bigger, it would have supported the sale price for the subject property. Then she asked me if I had by chance appraised 345 Average Drive. Since my daughter appraised it, I told her that I hadn't done an appraisal in the area for a while which is true. She told me she talked to the listing agent to see if it had closed which it had not.

Now folks, I have certainly become something of a cynic over the years but can someone explain toe me how in a matter of days, I meet an agent that only days ago was trying to have me removed as the appraiser for her property is now trying to help me get work. Then she brings up two properties out of the blue that were both appraised by someone in our office.

But here is the clincher. Remember Betty Smith who works for XYZ Mortgage and needs an appraiser. The same place where my friend works. Well I talked to my friend today @ XYZ and asked him why Betty Smith coulnd't find an appraiser. Guess what? There isn't a Betty Smith @ XYZ Mortgage. In fact he doesn't know any LO in his office that needs an appraiser.

I'm starting to smell a rat or a setup. I'm convinced this agent was fishing for something this morning and it wasn't what Richard and Mike go fishing for. If anyone thinks that I'm over reacting please speak up.

Any thoughts are appreciated.

 

[Pamela Crowley (Florida)]

Has the stench of rotting fish. I agree there is something very wrong going on and it won't be 'nice' for you! Should have had a tape recorder going. Keep us informed as I also suspect more is coming.

 

[Tim The Enchanter]

I'm starting to smell a rat or a setup.

That does have a very strange smell.
Maybe the agent is thinking of filing a complaint and trying to manufacture something to complain about. Other than you appraised the properties at what they're worth, rather than pushing value. Cuz that complaint will never fly. :twisted:

Put the write up of the event in your file and don't worry too much.
As long as you're flyin' straight, they'll have a hard time doing anything. Unless it's slander, then you can dream of retiring in a few years, via legal action.

 

[Tim The Enchanter]

Should have had a tape recorder going.

The wire is a good idea too.

 

[Blue1]

Shouldn't a CMA be easy to lay your hands on at a moments notice.

Larry,

If you actually get this CMA would you mind posting it? I've never seen one........TRUTH!

 

[Mike Simpson]

I've never asked for a CMA from an agent, but I've had plenty volunteered over the years. Not lately though...I have an MLS Key and never need to see that agent anymore (for roughly 2-3 years now).

The CMA's were always (without exception) slanted to justify an inflated sales price. Back then I'd have to explain to my client how the 15 comparables the agent supplied were grossly superior to the subject property.

I've basically cut back to one mortgage broker client--the only one I don't mind working with @ this point. If I'm going to argue with an agent in the future it's going to be in the form of a listing presentation to a potential seller.

-Mike

 

[Farm Gal]

Larry:
While I wouldn't stay up nights worrying about this, I WOULD document everything you have told us and everything else you can recall about ANY recent transactions involving this Realty company.

I would also make very sure if any subsequent actions arise that I had sufficient ducks in line to sink her with evidence of professional stupidity if not actionable offense through HER professional association... cause it sure sounds like that is what she is planning to do to you.

How well do you know the head honcho in her office? I am assuming this gal isn't the boss.

Make sure you have other clients who have NOTHING to do with this office. In other words do take this somewhat seriously.

we got hurt. and didn't even see it coming.

Our situation involved the two highest dollar selling agents on a low-midrange house, who got their noses out of joint, bitched once, and then promptly forgot entirely about the whole issue.

It may blow over with no further repurcussions, but watch carefully.

IT took us over a month to figure out what happened and which house/agents were involved.

 

[xm39hnu]

Larry,
You might consider writing that RE agent a "Thank-you sandwich."

Dear Ms. Avarice,

I certainly enjoyed our conversation at 345 Residential Lane yesterday. You mentioned that you intended to give my card to "Betty" at Major HomeLender, and I wanted you to know that I appreciate your offer to recommend me and my firm.

(Continue to summarize only the facts disclosed in your conversation, along with any reasonable conclusions [not suspicions] which you draw from those facts. Do not include facts learned subsequent to the conversation. )

Again, thanks for the recommendation. I look forward to meeting you again,

Sincerely,
You

Send her the letter, and put a copy in your file. This gives her the opportunity to refute any facts you have stated in the letter (especially what "she said"), and to repair any incorrect conclusions you may have drawn from them. It is admissible at any subsequent trial, and carries more evidentiary weight than a file memo, since it is contemporaneous and both of you have been exposed to it. You can be cross-examined on the contents, but so can she. The he-said she-said quality of any dispute is thus mitigated to some extent.