Realtor Says I Should Have Called Her

[Farm Gal]

Jo Anne:

while agreeing with all other portions of your post, I must take exception to
"a violation of USPAP, which I beleives defines client as direct underwriter. "

USPAP does not in fact specify the client as being an underwriter.
The underwriter works for the intended USER.

THe client is whoever ordered the report.

 

[Tater Salad]

I've always felt that I could/should talk with whomever my client wants me to talk to. I warn them that it may not be pretty, but it's a part of doing business and I always do my best to be professional.

No, it doesn't make me any money. But it doesn't make the agents any money when I call to confirm sales information. Most are very helpful. Some aren't, and you know which ones I will recommend (or even use myself) when an agent is needed? We don't have to be mean and antisocial to do our jobs correctly.

Talking to the agent doesn't make me any more susceptible to being impartial than talking to the L/O, or having the homeowner present at the appointment. If someone can be swayed by an agent, that person shouldn't be appraising. And if looking at a CMA is going to land me in court, they better sue me for looking at tax records, too, because that assessor's value may have influenced me as well.

 

[hal380]

Once when I was in training I called the listing agent. I told her that if she had some comps it might help me finish the appraisal. (No I was not being a numbers hitter, but wanted to make sure I had not missed anything.)

She sounded a little funny on the other end of the line but said she would see what she could do.

Next thing I know, I get a phone call from my office. Boss man says, "Hal did you speak with (forget name). I said yes, why? He said that she called offcie to complain that I was asking her to do my job. nfire: :sniper: :gunfire:

Explained to boss, he was ok with it. I finished report with what I had, and submitted it.

No it was not spite, I could find no other sales that would/could be and indication of market support for the contract price.

Came in below contract price .. . . Too Bad, So Sad

 

[Travis McGee]

Clotz made a good point about agents helping us with sales info. True! I guess I am cynical after having dreadful conversations with the listing or selling realtors when value did not come in at sales price. So now I explain to the loan officers that I work with that I don't have time to talk to the agents, but they can fax me comps. The comps they fax are mostly a waste of my fax paper, as I already pulled most of them (Duh) Half are listings, or comps 2 years old, new homes that have nothing to do with subject etc. I guess my point is that whether we choose to talk to them or not, (still A USPAP gray area), I believe that engaging in long post appraisal discussions encourages the perception that we should somehow be apolgetic when we don't "make" the sales price ( in realtor terms)

Do these agents call and try to make the people at Equifax feel bad when the credit report comes back negative on their client?

By the way, notice how many agents live in the communities they sell? Think they have a vested interest in pushing prices up there?

 

[Mike Garrett RAA]

Personally I find it more time consuming and difficult when the lender gives the information to the home owner who then calls and hasn't a clue about the appraisal process. The real estate agent can act as a buffer. I have spent years developing good working relationships with the real estate community and I don't intend to isolate myself any more than absolutely necessary. I say again, once the lender gives the value to the agent and tells the agent to call the appraiser...they have given me permission to discuss the appraisal.

 

[Phil Rice]

Mike Garrett -- I thought you were one of many who insist on having written permission from the client before risking a USPAP violation of confidentiality. I am not trying to be a smart ***, just trying to undersand how others operate. Would it be fair to say that if someone (homeowner or RE agent) knows the appraised value, you are willing to discuss it, because it is clear that the client told them about the appraisal? You would not give them a copy, but maybe would discuss the "details" of the report?

I have not always been a stickler about USPAP confidentiality, but I am thinking maybe I should be more strict. Sounds like there is a variety of opinions from other appraisers.

I am not sure what my client would say about how much they want me to discuss with the listing agent. I am working on a report right now where this issue is likely to come up. I am considering how I should handle it. I am thinking about sending an email to the client, and ask them how much they want me to discuss with listing agent.

So far, no one has posted comments about actually discussing this with the client (ie, will the client allow/encourage the appraiser to discuss the report with the listing agent). I would welcome comments from those who have had the discussion with clients.

 

[Travis McGee]

RE discussion with cleints: I have told my clients that we could be in violation of USPAP by discussing value with realtors, and that in any case, they take up too much time away from my working for them- that I would be happy to consider comps they fax me (most of which end up in the garbage)

Just because our client gives us permission to talk to someone about an appraisal doesn't mean we have to, or that it is a good idea. I suppose USPAP does not mention specifically don't talk to realtors- but it seems to me a conflict of interest- as they are not really a "user" of an appraisal, more like an interested third party- just because our lender wants us to talk to them, doesn't make them a user of the appraisal or our client. (Mortgage brokers like to tell realtors to call us, to get them off the their back-so they can go on making money while we spend hours on phone with the realtors - then we wonder why we work 50-60 hours a week-)

Nothing against realtors- I used to be one! But I never pestered appraisers, that is why I am so appalled by those who are so agressive about hounding us after we do our job. It is up to us to control this kind of nonsense. The realtors have nothing to lose by calling us- maybe they can presure us into making their deal- while we have a lot to lose.

 

[Farm Gal]

Phil:

Our office policy varies by client. My the clients have wildly disparate poilices ranging from 'don't discuss anything' to "Please respond in writing to all (un)-reasonable realtor inquiries".

My policy in handling of their policies varies just as much, the trouble is remembering 'who's on first?!'.

In general if I can't recall what a specific client's policy is I make a quick call to the client or refer the realtor to their client's contact person... I mean we don't have all day to waste on the issue!

I will generally respond to 'help' eerrrr interference, with a pleasant "Sure I will take this (or HAVE taken this :twisted: ) into consideration"... then file it .

 

[Tater Salad]

Jo Anne--

I think the realtor that I talked to last week is reading your posts--she just e-mailed me 3 comps for that appraisal that missed her mark by 25k instead of calling me! :lol:

Now, the subject was a 2-story and her comps are all ranches, but that's just a minor issue :blink: The other issue is that all 3 comps sold for 25k less than what I appraised the subject at . I can't pull a rabbit outta my hat, and I can't pull 50k from, uh, anywhere else . . .

 

[Travis McGee]

Hey Carole! She musta been too embarassed to call.

That is why I tell my mortgage brokers to have the realtors fax me comps instead of calling me- that way I don't have to deal with them. Too stressful and unrpoductive- we are not getting paid enough to be hassled by them after we did our jobs. Good luck!