Realtor handed me 14 comps.

[Fernando]

I don't view agents as the enemy. Sometimes they don't know better.
I love to talk with the agent and ask questions. Also to see if they're knowledgeable.
"How you came to the listing price? What sales did you based it on? How many offers did you get?"
Agents can be honest and give out more information than they should.
Agents and owners need to be careful in what they reveal to Fernando.

 

[George Hatch]

dont accept...and give the realtor a stiff warning about AIR

Strongly disagree. I think there's a distinction to be made between your own client providing you with their desired outcome and possibly an improper contingency for engagement or payment vs a non-client doing a data dump or otherwise expressing their own irrelevant opinion of the value.

Obviously different if they start making threats or attempting to bribe but that isn't what's happening with a garden variety data dump.

 

[Tom4value]

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.

A realtor giving me me “sales” to consider (as the appraiser, only I can consider them “comps”) is perfectly fine with me. As an appraiser, I am to gather as much data as I can. How a listing broker came up with a listing price falls into that category. It happened today, actually. I did what I always do. I say, “I left my glasses in the car. I will look at them then and see if great minds think alike.” It is our job to reconcile the data to come up with a well supported conclusion. I don’t want to get into a debate with the realtor about the comps I will use, especially during inspection, and it shuts them up.

To your question, do you need to address everything they give you, absolutely not. Again, gathering data and what to put in the report are two different things. If data you find is foundto be irrelevant, it should NOT be in the report.

I have heard appraisers say they scorn on realtors giving that info. I disagree. I consider it part of our job! The line is crossed when the say, “use these comps or else!”

 

[AppraisingLA123]

Almost all agents suck at providing us with comps. I wish they would only hand us 3 best comps, instead of all the sales in the area. They are usually a distraction too, but i still talk to them, because I end up learning a few useful things about the property. Agents and appraisers have different goals, we are trying to find out the current market value and support it, while they are trying to do everything for the property to get appraised at the contract price.

 

[Fernando]

Almost all agents suck at providing us with comps. I wish they would only hand us 3 best comps, instead of all the sales in the area. They are usually a distraction too, but i still talk to them, because I end up learning a few useful things about the property. Agents and appraisers have different goals, we are trying to find out the current market value and support it, while they are trying to do everything for the property to get appraised at the contract price.

Agents are not appraisers and don't understand what are the 3 best comps. Just providing list of sales is an effort we should appreciate.

 

[djd09]

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;

 

[glenn walker]

No big deal i would thank them and review them at office to see if any are good. Without Realtors and loan officers you wouldn't have a job.

 

[Terrel L. Shields]

Accept, acknowledge, and use the best 3 comps you can find from your research. No issues.

 

[OSU Beavers]

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.

Were there any notes on the comps?

 

[Fernando]

Were there any notes on the comps?

Sometimes agents would indicated on the sales given privy information which MLS doesn't know.
Could be their listing or agent's broker in house transaction.
More information always good.