Realtor handed me 14 comps.

[djd09]

if the realtor wants to write up their own appraisal and send it to the lender...feel free

 

[timindp]

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.

Why did you take them? I never accept comps. Realtors like to price fish and will only give you comps that help them, they will always ignore the low ones. I politely always say, No Thanks!. It's not like I am giving them a bunch of addendums for their purchase contract. Imagine what they would say if I handed them some contract disclosures or addendums to the contract. What do you think they would say?

 

[timindp]

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 thought it was our job to pull comps. What would an appraiser do if the appraiser did not pull any comps? Wait for the Realtor to give them to me? So, on a re-fi, wait for the home owner to give them to me?

 

[Tawfik Ahdab]

I would just treat the list of comps handed to me as I would a drawing given to me by a 5 year-old. I’d glance at it for a second, smile at the wee one with that patronizing sweet look, and somehow end up losing the thing.

 

[Trihard]

I thought it was our job to pull comps. What would an appraiser do if the appraiser did not pull any comps? Wait for the Realtor to give them to me? So, on a re-fi, wait for the home owner to give them to me?

My question was more towards the appraiser side, especially having to waste time addressing "comps" from a realtor who is throwing **** against the wall and hoping it sticks.

 

[Surf Cat]

I would just treat the list of comps handed to me as I would a drawing given to me by a 5 year-old. I’d glance at it for a second, smile at the wee one with that patronizing sweet look, and somehow end up losing the thing.

You wouldn't put your 5-year-old's drawing on the refrigerator with a magnet or something? Dang, you're cold dude...

Losing the "sales" the realtor printed out....no biggie.

 

[Tawfik Ahdab]

I thought about the fridge, but if I used it, the analogy would be lost.

 

[DWiley]

My standard line when being offered "comps" was, "As an appraiser, I am a data-holic, and I am always happy to look at any data that I can get. Thank you!"

Sometimes the sales were good; sometimes not so much. But at least I shut the door on the potential future complaint, "I took the time to do research, and I offered sales data, but the appraiser refused to even look at them!"

 

[Functional Obs]

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.

Read the top page of the bundle to see if the agent is even close to reality. File the rest away.

 

[Zoe]

Talking to me? I have to take NAR ethics to be a Realtor.
And yet in MLS, agents still make inappropriate comments.
Appraisers have to take more bias/fair housing continuing ed units.
It's good that appraisers are more aware of bias comments and we talk about it.

That is okay Fernando. They know I know they are legally biased for their client's best interest. I have no problem taking comps from an agent. I would say if you do this again, please do it before you meet me for the inspection because I have mapped my route out and will have to lose time if you have one that I think I missed. However, thank you for your assistance.

I may have to call you on something else as I am completing the appraisal. Thank you. I need to get going here so I can get through with the appraisal.

There is no way I will address each comp the agent gave me in the appraisal report. It is most likely a list with no reasoning and analysis summary. I won't do it without a summary of reasoning and analysis. They will be involved in an ROV if there is one. I have already spearheaded the chances of an ROV occurring.