MLS Comp Photos WTF!

[TC]

I have sent my 19-year old daughter out to take comp photos on occasion.

Turn in your The Crusaders badge.

 

[Ken B]

I have sent my 19-year old daughter out to take comp photos on occasion.

I've been known to drive down driveways with NO TRESPASSING signs just to see what someone is trying to hide.

I learned that trick from my Dad. He likes to tell the story about the time he drove up on the adult daughter tanning au natural in the front yard. Supposedly the Mom wasn't real happy and called the cops on him. It seems he hadn't really broken any laws. I wonder how many times the cops drove down the driveway after that just to make sure the house was secure.

(Oh yeah...he did get the pic of the house while he was there.)

 

[kevingrehan]

The theory is you must drive to the subject, complete your field work, return to you office, figure out the Sq.Ft. and condition, Locate comparable sales, then drive back to the neighborhood and take the comp photos. Don't forget to call all the sellers, buyers, agents and loan officers to verify the comps! FHA said so.

 

[BNICK]

Kevin is not THEORY a beautiful thing, and then you are to make money doing it at the same time ,it is time to to do a paradim shift, we can now access 7-10 photos on the MLS on the interior and exterior of the comps, but wait by many say "driving by the comps is better than looking at 10 MLS photos of the comparable ", pls do not give me the argument that the interior photos are an addition to the drive by inspection , that dog don't hunt , because if you are using the interior photo's you are admitting that the exterior photo's are also represtenative of the comparable, you cannot have it both ways, and if you do not look at the interior photos , you are not accessing information that is available to make a value decision.
Driving comps is old technology ,must you do it, maybe ,sure sometimes,but I challenge anybody to explain the condition of a comparable by just driving by and taking one picture, when I have 10 pictures of the interior and exterior of the comparable, this supposed guideline must change .

 

[Mike Garrett RAA]

Bnick...

While I concur being able to look at lots of MLS pictures is a huge benefit it doesn't solve the requirement to "personally observe the comparable sale from at least the street" which is what you are certifying you did. Until that is changed your scope of work should include doing it.

If you can't get a good clear picture then include the MLS photo and explain why you used it. Is it better to also take a photo of the trees or gate or what ever? That's your call.

Personally, I find the interior photos posted on MLS much more valuable than a call to an agent who is probably not in the office, doing something else, doesn't remember, or probably doesn't care what they tell some dumb appraiser!

Is using information in the MLS ..."obtaining information from a party to the transaction?" Who puts that information in the MLS? Does it satisfy USPAP? Inquiring minds want to know.

 

[Mr Rex]

MLS photos hardly ever show the run down 50s singlewide next door to the comparable, or the next door neighbor running a back yard mechanic shop/salvage yard, or the level of high speed traffic 24/7 etc etc. There are more reasons to drive the comps than getting a photo, and thats why it is a requirement clearly printed in the Certification. So if you don't do it, you are a liar 1st and a thief 2nd if you get paid for doing something you didn't to, be said you did.

 

[Stone]

Kevin is not THEORY a beautiful thing, and then you are to make money doing it at the same time ,it is time to to do a paradim shift, we can now access 7-10 photos on the MLS on the interior and exterior of the comps, but wait by many say "driving by the comps is better than looking at 10 MLS photos of the comparable ", pls do not give me the argument that the interior photos are an addition to the drive by inspection , that dog don't hunt , because if you are using the interior photo's you are admitting that the exterior photo's are also represtenative of the comparable, you cannot have it both ways, and if you do not look at the interior photos , you are not accessing information that is available to make a value decision.
Driving comps is old technology ,must you do it, maybe ,sure sometimes,but I challenge anybody to explain the condition of a comparable by just driving by and taking one picture, when I have 10 pictures of the interior and exterior of the comparable, this supposed guideline must change .

All that is fine as long as you state that you didn't drive by your sales. If not, as Rex wrote, you are lying.

I've never made the argument that one has to drive by all of the sales to do a good job - particularly in a small market area that one is really familiar with. It can be the case, but not necessarily. As I've noted in the past, I get a lot more data for my work from looking at air, topo and soils maps than I could ever get from an inspection from the street. However, my clients require that I do it, so there it is. I sign a cert saying I did, so I do.

Gosh, that is so difficult.

 

[BNICK]

I guess you have to drive the comps because you cannot use google maps or bing maps to see if there is a highway next door to the subject, or a junk yard, but since I have lived in the area for twenty years , I must drive by the property to make sure the high speed highway is still there because it may have moved in the night. . I do not deny the requirement is there , My argument is the requirement to do drive by's relies on old technology ,and the guideline needs to be changed . Innovation is a business tool , following outdated guidelines is an anchor for business, any business.

 

[Mr Rex]

You are right, innovation is why AVMs will make appraisers obsolete technology, particualry if appraisers continue to shortcut the human requirements that are part of an appraisal today, while claiming they did more than they did, and more than someone at a computer a 1000 miles away could do. Or perhaps a machine and a human in India.

 

[Stone]

You are right, innovation is why AVMs will make appraisers obsolete technology, particualry if appraisers continue to shortcut the human requirements that are part of an appraisal today, while claiming they did more than they did, and more than someone at a computer a 1000 miles away could do. Or perhaps a machine and a human in India.

Bingo. I'll do the leg work in order to have work.