How are you handling "support your adjustments" revision requests?

[Digger88]

Actually JG came up with this a long while ago I may have added on to it or used it in its entirety for the simple stuff

 

[Tom4value]

I rarely get these requests and I never get requests to explain every single adjustment. I be proactive on adjustments (or lack of) that may be an issue. For instance, an across the board pool adjustment. I state that I used sales dissimilar to the subject and compare them to each other with sale with a pool. I show recipes. I state the properties, sp, dates and different figures to reconcile the adjustment. Just saying you did it without actual properties screams BS.

If I don’t adjust comps for something that might look like it should, I explain why. “Comp 1 is roughly the same distance from an active r.r. Track. In comparison with the other two comparables, it appears that the tracks had no affect on sales price. Therefore, no adjustment to the comps is warranted.”

I tell in my report that other adjustments are derived from group data analysis, something I update when things are slow. The key is being proactive and explaining the FIRST TIME. Once their BS light is turned on, it is 10x harder to turn it off.

Charts in a report I keep to a minimum. I have talked about this before. Giving raw data only gives ammo for a reader to make their own conclusions. They are paying for my conclusions, my analysis, presented in a summary form in the report. If they still question me, I have the data in my work file I can use to refine my explanation.

 

[sputnam]

Boilerplate comments are not the answer. Just write one or two sentences about what you did to determine each adjustment.

 

[Tom D]

Boilerplate comments are not the answer. Just write one or two sentences about what you did to determine each adjustment.

I think they want to see some numbers, somewhere, with blanket comments. But, don't give them the secrete adjustment list.