Realtor handed me 14 comps.

[Trihard]

Were there any notes on the comps?

They circled stuff on the MLS sheets like bedrooms and square footage.

 

[Terrel L. Shields]

I accept and thank them and mutter to myself, "Go forth, be fruitful, and multiply"... a loose translation of what I really thought.

 

[Tawfik Ahdab]

Not mentioned in this discussion so far is that they are not comps unless the appraiser says they are. Absent that, they’re just sales or listings.

 

[sputnam]

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.

Entirely up to you. I probably wouldn't at least not in detail. I might write one sentence acknowledging that the Realtor provided mutilple sales and that you reviewed them in the course of your valuation.

 

[Tom4value]

6. Requesting from or providing to an Independent Party an anticipated, estimated, encouraged, or desired value or value range for a property except that a copy of the sales contract for purchase transactions may be provided to an Independent Party that has been engaged to complete an appraisal assignment;

True but merely providing sales does not fall into that category. Remember, providing sales to consider is one of the few things a third party can do for an ROV.

The line is drawn when they provide a specific value

6. Requesting from or providing to an Independent Party an anticipated, estimated, encouraged, or desired value or value range for a property except that a copy of the sales contract for purchase transactions may be provided to an Independent Party that has been engaged to complete an appraisal assignment;

 

[George Hatch]

6. Requesting from or providing to an Independent Party an anticipated, estimated, encouraged, or desired value or value range for a property except that a copy of the sales contract for purchase transactions may be provided to an Independent Party that has been engaged to complete an appraisal assignment;

You're reaching

 

[Sandra Koutsopoulos]

Having an agent ask for your comments re: all 14 sales? Aside from being an incredible waste of your time, agent is not your client, and does not determine your scope of work. I would give their donation a perusal, probably find several of them are on my list to drive by, but in all likelihood, they will be out of area, not comparable for one of many reasons, too old, too big/small etc. Once in awhile they will produce something useful, so I wouldn't refuse the stuff, but I would definitely not waste my time teaching him about the comparability of his 14 "comps" from an appraiser's point of view.

 

[Zoe]

I am happy if they give me comps. I would use one if I could and forget the rest. The odds are I already have the best ones on my to do list on taking pictures that day. If I see one that I don't have on my picture list, I will take a picture of it and move on.

I don't say anything in the report about the agent giving me comparables. I put them in the workfile.

I may have to call the agent to verify something.

 

[Zoe]

Having an agent ask for your comments re: all 14 sales? Aside from being an incredible waste of your time, agent is not your client, and does not determine your scope of work. I would give their donation a perusal, probably find several of them are on my list to drive by, but in all likelihood, they will be out of area, not comparable for one of many reasons, too old, too big/small etc. Once in awhile they will produce something useful, so I wouldn't refuse the stuff, but I would definitely not waste my time teaching him about the comparability of his 14 "comps" from an appraiser's point of view.

Your mean woman. LOL

I get a bunch of good info from agents after a sale has closed. I just take the info and run on with the appraisal. Agents will tell you things after a sale has closed that they won't tell you before it closes.

There is no way I would comment on sales agent gave me. I would not waste my time like you said. I look at way more than 14 sales sometimes and I don't comment on all of them.

 

[Zoe]

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.

If you are general public? Just a question? How long you been appraising?

I am like a cat. bloodhound. Are you shy?

Do you have some type of fear you should disclose and comment on these sales to your client?

If it was ROV, I would refuse 14 sales without supporting reasoning and analysis. I would say no to my client.

I have no problem the agent giving me comps and putting them in my work file.

For your own good. The agent is legally biased. You are not. A agent is legally biased for their client. An appraiser cannot be biased period.