Has anyone attempted to bring Ethics Violations against a Realtor for continually making negative remarks against you?

[J Grant]

People want to pay for housing. There's nowhere to live. This is undue stimulus?

Read the definition of MV. Undue stimulus affecting PRICE. The price itself is what will reflect the undue stimulus - what created the stimulus ,such as shortage of inventory is not the question.

 

[JeffSH]

Read the definition of MV. Undue stimulus affecting PRICE. The price itself is what will reflect the undue stimulus - what created the stimulus ,such as shortage of inventory is not the question.

You are right. We are both right I'm just being extreme. Regardless of the situation there's always a point where price isn't supported. I'm not advocating for blank check appraisals.

 

[J Grant]

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraiser’s certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is $ , as of , which is the date of inspection and the effective date of this

the URAR statement of MV where we opine. Everything in red above references the appraisal.

The qualifier, "as defined " references the terms and condition of the presumed "sale price" ( a price arrived at the terms pf the market value definition in report). The MV definition frames the price of the opinion. In lender work the type of value sought is typically MV -thus the "as defined " references the definition of MV in a URAR form on the certs page.)

 

[Overimprovement]

To bring this back to OP's question--I agree that this realtor is violating their own ethics code. If they are the lead broker already, speak with the local realtor board. If they aren't, go to the head broker. Or whatever they are called in your area. Head brokers do NOT want issues. They want a clean office with lots of sales. We should NEVER have to put up with slander and libelous attacks from anyone, especially those in our own profession.

The problem here is the entire RE agent commission model, which drives almost EVERY one of these types of problems. I don't know that I have a better solution, but it is exactly the same problem mortgage brokers have--no sale, no dinner that night. It's truly a bad setup, BUT, it cries out for someone in the process to be rational and independent, without fear of losing our own dinner from the threats and retaliation from those who may lose theirs... [ends rant]

 

[ucbruin]

"We are in a seller's market and yet sellers are paying 3-5% in seller's concessions to help buyers to get into the house without paying closing cost."

100%!!!!

I too find this weird....
The extra seller concession on top of an already unsupportable bided up sale price....
Is too much to comprehend....

Just yesterday I asked the listing agent at the inspection (this sale did not have a seller concession so I knew I wouldn't offend him)....
Why seller concessions are happening when contract prices are much higher than list price....
He basically said the same thing about less buyer cash....

I don't know if it's smart or not that the buyer only puts down 5%-10% after bidding 5%-10% over list....
But it will be less money to walk away from when prices tank....
And at some point prices will tank....
Hopefully not until after 2023 when it will be mandatory for me to start collecting SS and drawing from my retirement account....

 

[Artemis Fowl]

Read the definition of MV. Undue stimulus affecting PRICE. The price itself is what will reflect the undue stimulus - what created the stimulus ,such as shortage of inventory is not the question.

OOMG you just keep beating that drum. Do not do this. JGrant is confused about the difference between underwriting and appraising. Estimate the most probable price WITHIN THE MARKET THAT EXISTS. Do get caught in the trap of saying the market has undue stimulus. Not your job to appraise the market...underwriters make those decisions.

 

[apprtech]

To bring this back to OP's question--I agree that this realtor is violating their own ethics code. If they are the lead broker already, speak with the local realtor board. If they aren't, go to the head broker. Or whatever they are called in your area. Head brokers do NOT want issues. They want a clean office with lots of sales. We should NEVER have to put up with slander and libelous attacks from anyone, especially those in our own profession.

The problem here is the entire RE agent commission model, which drives almost EVERY one of these types of problems. I don't know that I have a better solution, but it is exactly the same problem mortgage brokers have--no sale, no dinner that night. It's truly a bad setup, BUT, it cries out for someone in the process to be rational and independent, without fear of losing our own dinner from the threats and retaliation from those who may lose theirs... [ends rant]

Sad day that people cannot be nice even though they disagree. Part of the career, not every house is going to appraise at the contract amount. Personally many don't make it because the square footage is really off from what the Realtor has, or they didn't do a CMA to begin with. My brother is also an appraiser here in town, and people are constantly getting us mixed up and Realtors will throw one or both of us under the bus to each other via phone call or text. We both scratch our heads and go what? They have to know they are bad mouthing our sibling to us. I guess I shouldn't worry, it doesn't seem to hurt my getting business, I am turning down 5-10 jobs a day because I cannot get to them. Just pisses me off that they get away with bad mouthing people, even in the MLS remarks. I can't tell you how many times I have seen other appraiser's names used in those Remarks in a negative light. Like so and so sent in a low appraisal, it baffles me.

 

[JTip]

Just pisses me off that they get away with bad mouthing people, even in the MLS remarks.

Make a copy/screen shot of that and file a formal complaint to your Grievance Committee. Saying words at the water cooler is one thing, actually displaying comments on the MLS is over the line.

You are a Realtor too, do something about it.

 

[apprtech]

Make a copy/screen shot of that and file a formal complaint to your Grievance Committee. Saying words at the water cooler is one thing, actually displaying comments on the MLS is over the line.

You are a Realtor too, do something about it.

Not a Realtor yet! I am working on it, about to take the state exam. I have a business degree in real estate and been in the business for 28 years.

 

[Terrel L. Shields]

how can we as appraisers say that the home isn't worth the accepted contract price?

Because irrational behavior isn't within the definition of market value. And central to the problem is that "free money" (for all practical purposes) allows irrational purchase decisions. Were the interest rates at traditionally higher figures (5-8%) then these purchases wouldn't happen. The price would be lower or the buyer would be looking at cheaper properties. The Fed, more so than anyone, has distorted the market.

This letter has not kept one appraiser from doing their work, because the lender cannot allow the Realtor to dictate who they use as appraisers.

But they do. If you have anything in writing, I would file a complaint to the board assuming you are a regular NAR member. Otherwise, I'd read the rules of the state real estate board and see what it says. There may be some ethics provisions buried in the dross of regulation on the subject. If so, file against their license and cite AIR as why they should not be doing this.