Realtor handed me 14 comps.

[Airstream]

LOL. I just did an appraisal of a purchase. MLS said 1540sf above grade. It actually had about 1930sf. Realtors first need to know what the heck they are selling. I can tell you horror stories about realtor data, as I’m sure we all can. I finally called the local board and said, “You know we are suppose to be using ANSI standards when measuring. Do you provide any training on how to measure a house?” The gal, who was very nice and cooperative, said they had never offered any classes on how to measure houses. I said I would offer classes to brokers for free and I emailed here the link where brokers can by the ANSI measurement guidebook.

I have no problem with agents giving me comparable sales. In fact sometimes I ask, “What did you use for your CMA?” They might even have a private sale I didn’t know about. This is especially helpful in rural areas with lots of small towns.

 

[AppraisingLA123]

ANSI is the second reason why i hate appraising sometimes, the first one is AMCs.

 

[Airstream]

ANSI is the second reason why i hate appraising sometimes, the first one is AMCs.

I believe the idea of measuring to the nearest inch is the stupidest thing ever. Some idiot with nothing else to do came up with that while high on pot.

 

[AppraisingLA123]

I believe the idea of measuring to the nearest inch is the stupidest thing ever. Some idiot with nothing else to do came up with that while high on pot.

I don't think it was pot alone, but yeah i agree. What bothers me more is the basement rule when applied to houses on steep land. Somehow lower level becomes a basement, and needs to be adjusted seperately.

 

[Damienvball]

I went to a purchase inspection. The house was vacant so I was measuring and taking photos. Suddenly the agent shows up out of nowhere and is like, "hey I'm here to drop off some comps." So I took them and he came up with 14 comps.....Would you address each one in the appraisal, or just not even mention them? Some are really bad.

I tell them on the spot or on the phone that "pulling comps is my job and that I may consider them" and then I say "what they are doing could be considered coercion"
One realo

I went to a purchase inspection. The house was vacant so I was measuring and taking photos. Suddenly the agent shows up out of nowhere and is like, "hey I'm here to drop off some comps." So I took them and he came up with 14 comps.....Would you address each one in the appraisal, or just not even mention them? Some are really bad.

One realtor told me the comps were to explain how he arrived at the listing price.

 

[AppraisingLA123]

I am not convinced that we should not be accepting comps. I'm also not a fan of anything that limits interaction. I think it comes down to what you certify in the appraisal. If we certify that no one has attempted to influence us that would be a lie. Maybe we should start disclosing in the report that the agent provided us with comps, and that we did not give those comps special consideration, or were not influenced by those comps something like that.

 

[George Hatch]

If it were me, I'd wait to see if the broker or borrower actually did something that crossed the line before responding with an implied threat. It's been many years since I experienced anything that went that far.

 

[Terrel L. Shields]

ANSI is the second reason why i hate appraising sometimes, the first one is AMCs.

Some of us has eschewed both. Never worked for an AMC. Never sketched to ANSI. Never will. It's a choice. We've known what AMCs were from the get-go. Blood suckers. So, why deal with them. Appraisers have had 30 years to adjust and get out of secondary market work. The absence of choosing is a choice.

If we certify that no one has attempted to influence us that would be a lie.

I don't think our certs read exactly like that in the first place, and if you present me with comps to look at, I have the choice of ignoring them or at least looking at them politely. The bias of no bias is a bias. Our views are biased by our own interpretations and experience.

 

[Mark K]

As it turns out he was including the overhangs (walkways and staircases) as GBA...

Maybe he was a house framer in the past. That's how custom house framers calculate their cost estimates. Anything under a roof x $X/sq.ft.

Porches, garages, overhangs, etc.

 

[George Hatch]

Maybe he was a house framer in the past. That's how custom house framers calculate their cost estimates. Anything under a roof x $X/sq.ft.

Porches, garages, overhangs, etc.

Either way, I cannot get to a consistent comparison of my subject to my comps unless I'm using a common definition of GBA for all of them.