MLS Comp Photos WTF!

[TJSum]

I agree MLS photos should only be used when you can't get a good image yourself, but I am not so cynical and doubting that I automatically assume that an MLS photo indicates that the appraiser did not view the comp in person. I am not a thought-cop, I cannot just *know* that they didn't like you appear to be able to.

Common sense dictates when you see an appraisal report with all MLS comp photos, the appraiser did not drive the comps. Period. Where is it written that you can not use both photos, the MLS photo as well as the appraisers best available personal photo (if the MLS is better)?

 

[CANative]

Okay. When your common sense kicks in do you report the offending appraiser for MLS photo use or for not inspecting the comparable sales?

I suppose in the past you could have made a good case for violation of the Supplemental Standards Rule but it might be difficult to make a convincing argument for a SoW violation.

Altough I suppose you could get away with sabotaging an appraiser's business relationship with your mutual client.

 

[DMZwerg]

Now it's back to the office, 30-45 minutes depending on traffic. Input my sketch, find the GLA size, think about the condition of the subject, then find the 3 or more comps that BEST FIT the subject out of the 28 that sold in the area. After finding them, adjusting them and working up a nice report with low adjustments, am I supposed to take the 1-1.5 hour round trip to photograph the comps I just used? OR, and I supposed to take all 28 comp photos when I am in the neighborhood?

I do.
That is one more reason I charge more for appraisals that may require more drive time, etc.

I generally take 15 or so photos in an area for each report, generally a range of factors and GLA ranging 25% above and below the listed GLA, more if I suspect things in advance.

I have still had to drive back because things were much different (such as off by well over 50%, very odd property in which case I may have had to increase time or search range by more than expected (up to 3 years previous, etc)). I try to plan an extra day for various reasons, including if I need to take additional comp pictures.


So, what's the beef?
You need to go back and take more picture then you calculate the chance of such happening and add it to your fees in the future.


There are cases in which I use MLS photos:
1) Human activity. I HAVE driven the comp and inspected it from the street, but due to human activity I could not take a picture which would not include a human in it. I generally try again the same day but if the human activity precludes it I include the appropriate MLS photo with detail why.
2) Condition change. I take a photo, but it has been completely rehabbed since purchase, in which case *I* deem the MLS photo as more accurate. My "after photo" can be included in an addendum at client request.
3) Due to dense woods, etc, the dwelling can not be seen from the street. I will either use MLS photo as per client request and addendum mine and/or what aerial shots as required or whatever I deem necessary. I have sent in a number of reports with a picture of a mailbox or fire address backed by woods

 

[Laughing Heir]

I wonder if the bears liked it?

now THAT is funny.

 

[Joyce Potts]

Comp #1 --

So would you use this photo?

Wait a day or two, then go back to re-shoot it?

Or use a photo from another database, such as MLS?

 

[Workbox]

Comp #1 --

So would you use this photo?

Wait a day or two, then go back to re-shoot it?

Or use a photo from another database, such as MLS?

I would explain that due to economic conditions many local residence have established at home businesses and the the pony show starts at 7pm and that the HOA has approved circus attendance of 50 people.

But Really, what I have done in those cases where the home is being gutted out I just show the home being renovated and explain. If they need a pretty photo, then I will provide an MLS photo. Or in other cases add the MLS photo in a photo addendum.

 

[TJSum]

Comp #1 --

So would you use this photo?

Wait a day or two, then go back to re-shoot it?

Or use a photo from another database, such as MLS?

I would use both.

Addressing another issue, I have no problem shooting comp pictures or street scene photos if people are in the background. I have never had a complaint. The people issue is mainly dealing with the subject property. If you are on a very busy city street, it is unusual not to have people, cars, buses, trucks, you name it. I am not going to tell anyone to move out of the way (for a comp pic) when they are on their own property.

 

[Kevin Mc]

Yeah, but, driving by and visually inspecting the comps (since you've posted that twice now) has nothing to do with using MLS photos. It is possible to drive the comps and still use MLS photos. You're making an extraordinary assumption (allegation actually) that the appraiser isn't driving the comps just because he's using comp photos.

If there is a legitamate reason for using MLS photos, no problem. I'll assume it is explained in the body of the report.

I use MLS photos when all I can see is a gate, or long driveway (as well as submitting the photo of said gate or driveway)...but some people just like to use MLS photos even when they drive the comps.

I don't know too many who exercise this practice, in fact I know of none. I work in an urban market so there really is no reason to use MLS photos. I'll assume in your market there are a whole bunch of people who like to use MLS photos for various reasons. The only reason they are used in my market is for saving time. Period. Of course 99/100 times it is never mentioned in the report.

I agree MLS photos should only be used when you can't get a good image yourself, but I am not so cynical and doubting that I automatically assume that an MLS photo indicates that the appraiser did not view the comp in person. I am not a thought-cop, I cannot just *know* that they didn't like you appear to be able to.

I am that cynical. I have reviewed a couple of thousand appraisals over the past 7-8 years to back my cynicism up. It is the mark of corner cutting more often than not. I assume nothing.

 

[Michigan CG]

Common sense dictates when you see an appraisal report with all MLS comp photos, the appraiser did not drive the comps. Period. Where is it written that you can not use both photos, the MLS photo as well as the appraisers best available personal photo (if the MLS is better)?

You are screwing up the argument for people who do not drive the comps. I had about 10 comps in August where it was impossible to take a picture of the subject. I included the lane entrance showing I had inspected the neighborhood of the comparable and attempted to take a picture of the comparable but was not able to do so.

A previous poster stated that I was making allegations about appraisers driving comps (or not) and still using MLS pictures in the reports. I understand that view. This is a national forum where most of us cannot understand the markets that others work in. However, if you drive the comps and cannot get a picture of the comparable it might be wise to include both pictures.

The current situation of the profession shows that many are not driving the comparables and therefore not observing the neighborhoods and property condition.

I am not saying that MLS photos should not be used.....I have done it many times, but do not be naive enough to believe that most appraisals that have only MLS pictures are conforming to the certifications that they sign.

Writing reports that are below the standards of accepted appraisal practice and are in violation of the certifications that the appraiser signs is a violation of USPAP and in some states is criminal.

Food for thought.

 

[jmarch305]

It seems to me that the real issue here is not what photos your using but, did you inspect the com parables from the street? that is what they are expecting. doesn't that sort of make it SOW? MLS photos can be more representative of the property as of the contract/close date so that would be a good reason to use them, however, we're still expected to "inspect" the comparable from the street. Also it can be difficult to see external influences from aerial photos and MLS photos frequently intentionally hide these external factors. If your going to use all MLS photos you better at least drive every street in the neighborhood where there is a potential comparable and not a 40 MPH IMHO.