• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Listing Agent Issue

Status
Not open for further replies.

ExplainDNA

Senior Member
Joined
Oct 30, 2008
Professional Status
Certified Residential Appraiser
State
Illinois
Hi,

A client came to me asking if I'd do an appraisal of a pricey home in Lake County for a relocating European executive. Feeling honored, I gladly accepted.

The seller's agent is flipped out that an appraisal was called for ahead of the contract, but I'm eventually allowed access. When I get there it gets worse - turns out the seller's agent and I had met prior, I had "killed" a deal of his. He flipped, didn't even want to let me in. (In fact, he HAD my old report on his laptop and tried to berate it while I was there.)

I negotiated peacefully with him, and got the appraisal done. Finished the private report, and yep, possibly killing another deal. The property is about $50,000-$60,000, or so, high. Crazy thing is, turns out that the exec is okay with that, and signs a contract for a very high price. Again, please note, he SIGNED a contract.

Well, my client is pleased with it all, the down payment is so enormous that they're ecstatic with the spread, buyer understands what he's doing (he was informed by me!) and the listing agent is closing his deal, right?

Not so fast.

I then get the assignment for the loan, and now he's not letting me in for the URAR. I mean at all. He won't even return my calls or texts, this listing agent. So my client calls the buyer's agent. She says there's nothing she can do. SAY WHAT? Do you realize how much commission is at stake here?

So I look her up, how about this - she works in the same office as the lunatic now stonewalling me. She's in on it.

I'm guessing they have multiple offers and are hoping to make this exec so frustrated he walks. I hope he doesn't. I hope he goes after these idiots with a vengeance.

Anyway, felt like venting, as I've never seen anything like this before.

Best,

Dave...
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Dear Dave,

Why don't you threaten to sue, or just go ahead and sue, the agents and their broker(s) for restraint of trade? Under TILA, they are "covered" persons and can't have any input into who the appraiser is, or isn't.

.
 

ExplainDNA

Senior Member
Joined
Oct 30, 2008
Professional Status
Certified Residential Appraiser
State
Illinois
It's an appraiser issue here, for sure, but my feeling is that the exec needs to decide if he feels they've abandoned their fiduciary duty to him here. I'm not suing anyone, I've got enough things on my plate, Marion.

Additionally, my client has had this sort of thing happen with this same agent in the past, he's a bad seed, and it's my understanding that other appraisers have felt his insanity. I'm betting a few here know him.

Honest to God, I don't know how wretched people like that make a living.

Dave...
 
D

Deleted member 130081

Guest
LOL. I shouldn't laugh, but I will anyways, it's just too tragic not to. So lets see, the realtor has a fit when someone has the audacity to get an appraisal before they make an offer. Hmm...I suppose a seller has the right to do that if they choose. Ill bet that realtor would have much preferred to wait for the bank appraisal after the signed offer, cause you know, it usually works out better like that, USPAP requiring the contract be analyzed and all that. Then the buyer, after getting the appraisal before hand, decides to make an offer much higher than the appraisal they paid for...okley dokley - its only money right? Nope. Turns out it is not the executives money, rather the banks money they want to use. So, the bank hires an appraiser too, and it just so happens its the same appraiser!!! LOL LOL LOL. Cant make this **** up.

You should suggest to do it as a drive by - maybe the loan will allow it, and you have all the info you need.
 

ExplainDNA

Senior Member
Joined
Oct 30, 2008
Professional Status
Certified Residential Appraiser
State
Illinois
Loan is going to be around $200,000 on this deal. If I'm "the bank" I want this guy to fold.

He's informed, he's just jonesin', and that is exactly how appreciation in a market should work.

What shouldn't be happening is some a-hole agent slamming the door.

Dave...
 

Noreen

Senior Member
Joined
Feb 5, 2011
Professional Status
Certified Residential Appraiser
State
New Hampshire
It's an appraiser issue here, for sure, but my feeling is that the exec needs to decide if he feels they've abandoned their fiduciary duty to him here. I'm not suing anyone, I've got enough things on my plate, Marion.

Additionally, my client has had this sort of thing happen with this same agent in the past, he's a bad seed, and it's my understanding that other appraisers have felt his insanity. I'm betting a few here know him.

Honest to God, I don't know how wretched people like that make a living.

Dave...

Dave, is this one of those times to take the time to complain to the Managing Broker and the state RE commission? Very, very unethical behavior, for sure!
 

DTB

Elite Member
Joined
Jun 11, 2004
Professional Status
Certified Residential Appraiser
State
Illinois
Dave,

If you'd like, PM me with the pertinent agent info. I WILL get you into the subject property. No trading tomorrow so I'm wide open.
 

ExplainDNA

Senior Member
Joined
Oct 30, 2008
Professional Status
Certified Residential Appraiser
State
Illinois
Thanks, dude, long time no talk! Hope your Thanksgiving was great!

My client called the owner of the B&W brokerage, who did "relent" on the stonewalling. He did not, however, apologize, or even address this little bit of madness.

I'm going in tomorrow at 1:00. I just hope they send someone other than the imbecile having started all this to let me in.

Best,

Dave...
 

ExplainDNA

Senior Member
Joined
Oct 30, 2008
Professional Status
Certified Residential Appraiser
State
Illinois
Noreen,

Unethical AND extremely unprofessional.

Hope your Thanksgiving was wonderful and that you're having a wonderful and safe 'Black Friday'!

Best,

Dave...
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
Thank God they are doing you a big favor : Maybe you have a legal case !

Angry- Cat Visits His Cousins Law firm :
Hey John some of my buddies on the forum say I may have a legal case .

Good to see you Cuz got yourself in another mess this week ? Well not really it's just these two no good brokers locked me out of a house and it really upset me. Well AG that's private property and Bill High Sale and Mary-Jane List Um High have a fiduciary relationship with their buyer and seller. Lets see based on the 2017 Brokers ethics and rules manual getting locked out is not an-action that warrant's any ethical or legal action so as usual you have no case BUT If the brokers ever lock you in a property then we may have a case for extorting the appraiser by fear and force and that's a very serious crime up here in LA LA land.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks