How many confirm seller concessions?

[Walter Kirk]

I wish that I had a dollar for every comp that I verified.

 

[Mztk1]

I call on each. A lot of appraisers here do. Agents typically say "Wow, that's a popular house with appraisers"; or "Of course I remember, you are the fifth appraiser to call me in the past few days on that property".

It seems we have two tiers of appraisers in my market, a lot call, a lot don't. I do.

 

[David Sawyer]

I call on all comps! I figure eventually the realtors will get tried of appraisers calling them and they will start to reveal this information in the MLS data sheets. Secondly, I do it to network with the realtors. I receive numerous referrals from the realtors and use this as an added opportunity to expand my business. Believe me, it works!

 

[David Dietz]

I send email's so I can have a paper trail. Even if the listing say no concession. I will send an email to the listing and selling agent which can become humorous as they argue over what the concessions actually were. Maybe one day the local governments will wise up and require a HUD statement to be recorded for the use of the appraiser to verify the actual amounts.

 

[jay trotta]

Mike S. - agree and have done it that way for years, and there is then no need to rely on the mistake riddled MLS. Additionally we always confirm the Deed & Mortgage on any sales, so that we know the deal Closed, for what was noted on the MLS or not. It's a matter of checks N balances, I think thats what we git paid for - sum more than others are at the upper end of the scale of paymint. Due diligence to me is thorough research, not half azzed work.

cheers

 

[John Hassler]

Dang!!! I just remembered. Some lender called and asked me to do an appraisal in Novato. I don't go south of Cloverdale and I gave him dad's number but I don't think he particularly likes to go to Novato either. I completely forgot about you John. Sorry dude. Next time for sure.

Actually I was running ten-day turaround last week and refered two to your Pop, a pre-purchase in RP and a Seb. refi. but thanks for thinking of me ... after the fact

 

[John Hassler]

I call on all comps! I figure eventually the realtors will get tried of appraisers calling them and they will start to reveal this information in the MLS data sheets.

This is my strategy too!

Secondly, I do it to network with the realtors. I receive numerous referrals from the realtors and use this as an added opportunity to expand my business. Believe me, it works!

I've also found it to be an excellent time to market myself, especially in the upper market segment ($2m+).

 

[John Hassler]

I always confirmed. Skippy didn't. Guess that's why he's working and I'm not. :-(

I completely understand your frustration!

 

[Kevin Mc]

They are not very common in the markets I serve and none of my clients deal with the "seller's concession" demographic in my area. It sounds like it is SOP in many markets.

 

[John Hassler]

They are not very common in the markets I serve and none of my clients deal with the "seller's concession" demographic in my area. It sounds like it is SOP in many markets.

K-Mc, concessions are not that common here either especially in the upper market segment (I even has a purchase a few weeks back with a buyer concession!). The fact is our MLS has a mandatory concession field that the agent MUST answer Yes/No. In six months no other appraiser apparently took it upon themselves to call the listing agent when they saw the concession field checked Yes. From now on, when getting the details of concessions, I'm going to ask how many other appraisers have called. I guess I'm just a bit disappointed with my local peers.