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

[Tru Red]

You're implying that buyers can't tell the difference between a 1,600 sf home and a 1,900 sf home.

I doubt anyone was "implying" anything. Many Buyer's can't. Especially people from Chicago I should imagine.

 

[JeffSH]

The lending system is using someone else's money.

Please go take your med's.

Yeah, and taxes are theft. Health insurance is just using other people's money. So basic.

 

[Stantheman]

What tactics have you used in the past to shut that down? The local Association of Realtors has a few statements that talk about not talking or communicating negative comments about other real estate professionals in the association. It is part of their Ethics Rules, and I wonder if that would be a good way to at least start.

Here's is how we've been approaching this. When we call realtors and ask them about a comparable 5-7 times an appraisal, before we hang up we say "I know we are calling and bugging you guys all the time, but if you ever have a question for an appraiser give us a call". This alone has given us tons of referrals, and we've gone to offices for free to educate them on how we look and value the properties. This will get you a lot of "Street Credit" in the Realtor community. For those that do complain, I contact them or their broker directly and most of the time (95%) it turns into a positive.

 

[JeffSH]

I doubt anyone was "implying" anything. Many Buyer's can't. Especially people from Chicago I should imagine.

A buyer walks through a 1,600 sf ranch and then a 1,900 sf ranch. Do you honestly think they couldn't tell which is bigger? How little faith do you have in the average person?

 

[Tru Red]

BTW........whoever Jeffrey Hilborn is......he was the one that originated this post a while back.....just so you know:

"Turned in an appraiser for an obvious and objective error. No actions taken by the state and collogues told me I was in the wrong. Am I crazy?"​

 

[Overimprovement]

You're implying that buyers can't tell the difference between a 1,600 sf home and a 1,900 sf home. They need to read it on a computer screen. You guys are so hung up on real estate agents and their list prices.

I will argue all day that they cannot. Most have no idea what acreage they have either. I always ask a couple questions that I know the answers to so I can gauge their responses. I ask the tougher questions later--has home ever flooded, when was bathroom remodeled, etc.

Anyway, buyers don't measure houses, they depend on the information they see. And appraisals ONLY come in after the contract is in place. So by the time they may see the acreage or GLA is off, they very much "I don't care, just want this to close" mode.

 

[Overimprovement]

A buyer walks through a 1,600 sf ranch and then a 1,900 sf ranch. Do you honestly think they couldn't tell which is bigger? How little faith do you have in the average person?

That depends, do appraisers count?

 

[spittman]

Just wait ... all these buyers paying above market will be complaining next year that their taxes are too high. Who will they blame then?

 

[Overimprovement]

I even read in a few areas, potential sellers are making RE agents bid cash to get their listing - yikes.

But hey, if supply and demand is decried by us appraisers as true capitalism, shouldn't it be for all market participants? We will all be hit real soon by the supply/demand realism. Just enjoying it now since its in our benefit.

 

[Alsie35]

The "other" factor driving prices sky high right now (that no one has mentioned) is the rocketing prices of new construction homes. So long as they are selling, they are bringing the preexisting surrounding inventory up along with them. Its now lasted long enough that I believe the data is starting to show that this is just where the market is right now, at least in the desireable states. Probably for at least a year to come*.

(*This still means that you will have to come in under contract if you have no closed comps to justify a particular contract price. But sales are now closing that clearly show where the market is heading. Up. Whether you think that is "prudent" or not is beside the point. Our job is to "read the market" and while it looked screwy a few months ago, its a lot clearer now...)