Realtor Says I Should Have Called Her

[Lee SW IL]

1st, I never call the agent to advise the value is not there, its none of thier biz.

2nd, Why call the LO before you send the appraisal to advise it did not come in at the number they wanted? What is the point? Don't you end up explaining what is already in the report? Arn't they going to try and cxl the order? Then what do you do? I don't understand the purpose of this.

 

[Larry Lyke]

MStevens ~

The Realtor is just cussing you out in the Realtor's own way...

You'd better not get caught calling Realtors and giving them a heads up. You could be looking for a new client. After a good scolding.

Cheers.

 

[Wally Jones]

I'm with the majority. I don't call except to badger them for a copy of the contract. I must say I had a pleasant encounter last week. I called the Realtor for access to a vacant property. She says it's on lock box. Would I like her to be there? (No.) I'm faxing you the contract now and I'm also sending a copy of the survey. I have four comps that have sold within one mile and within six months, would you be offended if I faxed them over, too? (I already had them, but it was nice to see they weren't in another county for a change.) I had all the stuff on my fax machine within 60 seconds of hanging up. Three days later I get a thank you card from her for being so professional on the phone. (She hadn't seen the report at that point.......no worries, though, it was an easy one.)

Just had to throw in a positive experience since the vast majority are in the other direction. I'm trying to figure out how to clone her. B)

 

[Mike Garrett RAA]

I totally disagree....it is their business! If you look at the real estate contract you will see their names and signatures on the contract too. Do I call them to say ..."didn't come in at contract"? No. Let the L/O call them and tell them the bad news.

If an agent calls me and says what she said to you, I would say..."and you expect me to change my value opinion?".

I do call the agent if there is going to be a requirement such as paint so they can get a head start on it.

 

[Bill_FL]

For me, it depends. Some clients have given me a blanket permission to speak with the brokers. Sometimes, it can be quite fun to pick up the phone and say:

"Ms. Broker, I am sitting here looking at all of the sales in that subdivision and not one of them has sold for as much as you listed this house for. Perhaps I am not finding all of the comparable sales in thesub division, which ones did you use to price the house?"

The fun part is the answer, it usually goes something like this:

"uhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh, wwwwwelllllllllllllllllllllll, ummmmmmmmmmmmmm"

 

[Phil Rice]

The listing agent is not the client

in "normal" circumstances, it would be a violation of USPAP to discuss your value conclusion with anyone but the client -

I think, am I missing something?

 

[Mike Garrett RAA]

Would be a violation without the permission of the named client...who, in most cases, immediately calls the agent who then calls you!

 

[Karl]

I think this is the biggest MYTH about Appraising, Client CONFIDENCE Yeah Right is there anybody who HAS NOT gotten a call from anyone involved with the process AFTER the Appraisal is turned in, HomeOwner, RE Agent, Buyer ETC ETC & first words out of there mouth being SO & SO (YOUR CLIENT!) said to call U. Or gotten a Appraisal to REVIEW where the Appraiser name has not been Blackd out?? OR maybe the biggest is the MYTH that the Appraisal is for such & such Client only.

 

[Bill_FL]

As I said, I get permission from my client first.

 

[Patti Jury]

I will discuss the comps with realtors.. if they Call first. I will not call them but will call the L/O. The first question I ask the Realtor is what comps they used to market the property. It is their job to valuate as best they can as per market information. If they come in high it is usually because of some special features in the home that they think are far and away better than those in the neighborhood. What they tend to ignore is that the highest comp in the neighborhood..also may have some special features or has been remodeled or updated. So that shuts that arguement down almost immediately. Bottom line.. if the Realtor can not prove contract value.. than how are you supposed too..I usually will ask them that question too.

Also you need to look at "over-improvement". $4000 is not that big of a deal in the larger scope of the overall loan so I doubt it is over-improved.. but that has happened to me... A Vast $150,000 over-improvement added to the overall cost of the new construction due to "personal" touches added by the buyer at the time of construction.