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Oohh...scummy Little Re Broker!

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Kathy in FL

Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Florida
Got an order on a 1300 sq.ft. "new" spec house that's been sitting vacant a year...after inspection, I figured out why. Teeny tiny little closets, MH panelling in the bedrooms, cheap cheap cheap. With a custom home price, of course, and a local broker involved.

I, of course, came up about $15,000 under their contract price.

Broker's partner just called me and tore into my work, in the ignorant, I-can-barely-read way that only (some) brokers have. He was INFURIATED. My cost approach was 50% of the real value....my land value was 50% of the real value, I took depreciation when the house is NEW (OK, 1 year old) and never been lived in...did he read about the functional depreciation? No, of course not....you know, you've been there.

The kicker...if you don't change the appraisal, we're not going to recommend you any more and we'll make sure you don't work on our sales. (Mind, this is the biggest broker in the county.) You'll never work in this town again!! (You've probably been here before, too.) Of course, I made it clear that I wasn't changing the appraisal. He, of course, made it clear they would get another appraiser and would bad-mouth me every chance they got.

I did call the AMC I was working for and told them what he did. They're going to call the lender.

However, I wish there was something more I could do that would hurt this guy in the pocketbook. I wish that brokers were responsible for pressuring appraisers. I wish mortgage brokers were. This is a small town and this guy can really hurt me economically, but I can't touch him. That's not fair.

SUPPORT ANTI-PRESSURE LEGISLATION!!!!!!!!!

Fuming...
Kathy in FL
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
First, file a complaint with NAR. Second, file a complaint with the state real estate licensing board. Third, get an attorney. What he is threatening is actionable (you can sue)- defimation of character, etc. Also, I would talk with the DA. Such threats may be a criminal offense as well.

Roger
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Kathy,

You can file an ethics complaint with your local Board of Realtors. I would send a copy of it to FAR and NAR also.

It might not actually be sent on up to Professional Standards, but it's a beginning.

I would also send a copy to FREC.

Edit: Add what RStrahan said!!!
 

Monica Otto

Freshman Member
Joined
Mar 1, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Kathy,
I agree with Pam. Realtors are regulated also. I would report him to the local board, and find out if I could report him to the state. Especially if he really can affect your business in a small town. You will need to protect your livelyhood.

What I wouldnt do is get into any conversation with this Broker about this appraisal again.

Your right, it stinks :angry: , and is probably the toughest thing to deal with in this business. I have found though, that most of these things over time just go away, and everyone moves on.

Good luck, and Hang Tough
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Call me stubborn but no way would I let him get away with that. I would follow up on what everyone said and do anything I can. Make an example out of him before some other broker get brave and try that tactic too.

Besides he is not you client, I would have hung up on him long before you did. But maybe it is better you didn't. Now you have all those threats!
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
Repeat after me,
"I am not at liberty to discuss the appraisal with anyone but my client. Please address your questions and concerns to my client, their name and phone number are ........... Thank you and good bye". B)
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Clearly stated by the others....and especially the fact that he was not your client (right ?). I would re-direct this person to speak DIRECTLY with your client about the report, and its value conclusion. The best you could do is to calmly ask the person to express their questions and concerns .....IN WRITING.....and fax them to you. Of course, you need not reply, and most likely you will get nothing sent to you anyway. The most acidic and confrontational method anyone like him does have is the direct phone call and entangled engagement with you so long as you stay on the line. Despite how bitter and threatening it may be, at the end, it comes down to he-said she-said, and you don't have anything to show as real evidence in that situation. If he were truly committed to the deal, and the nice people who were purchasing, he would front them the extra money to make it happen. Yes, there are some true jerks in this world, and part of this profession is the reality that we will eventually meet up with one on occasion. Bet 'ya wish you had a phone-tape recorder to capture his words.....for the record. Best wishes.
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Clent or not he had no right to talk to Cathy the way he did and she has a right to pursue a complaint against him and I think an obligation too.

Kathy I say do what ever you can to teach him a lesson!
 

Dale Smalley

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Just stick to your guns Kathy. They don't have to like you just respect that you did a fair accurate appraisal.

If you sue or report them you will definately not get any more work from them. Though choices. Hopefully they will cool off and see you point of view.
 
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