Realtors Manipulating The Market.

[Bearslide]

There's only one way to stop the concessions and excessive real estate commissions from inflating the true market:

RECORD THE HUD-1's along with the DEED

Yes - and the HUD-1 would bring ALL the fees to light..........

 

[Amy Perkins]

Call him and tell him that you need a copy of the sales contract, if he refuses, tell him that you will be putting it into the report and making it a condition that you have a sales contract. Better yet, notify the lender that the realtor is not providing you with a copy of the contract and you will put the order on hold until you receive it. Whatever you do, you better see the contract, that is one thing appraisers get into trouble with most of the time.

 

[SANDY]

The OP was about concessions for a comp to be used not for a subject that had a contract. Joyce's idea would go a long way. Even better would be to include statement in any MLS listing contract and/or any sales contract that would allow for disclosure of such info as part of the MLS data.
What ticks me off the most about this whole issue is that the writers of USPAP decided to put this requirement on appraisers knowing full well that the data was not going to be available in some areas and knowing full well that is most instances such data could not be disclosed by realtors. So they gave us a bullshat out from actually requiring us to obtain the info as long as we could prove to made some sort of effort to get it----but but but the noose around our necks is still there ready to be tightened at any moment. It's one of those things where yes in theory this data would be critical to have but in reality is it readily available---oh let's see in reality it's probably not readily available but let's require appraisers to make some undefined effort at obtaining it so if we want we can use it to choke the life out of some appraiser down the road. Let's see by undefined let's use the old favorite clear as a bell terminology of "what do your peers do"? That way if one of your competitors is able to obtain the data by whatever method including believing what the realtor told you verbally over the phone, then we got ya!!! USPAP is so full of this pie in the sky crap backed up by what would your peers would do and don't forget my favorite "credible report" Hmmmmm- how much does a hen weigh anyway?

 

[Michigan CG]

.....the writers of USPAP decided to put this requirement on appraisers knowing full well that the data was not going to be available.....

It was a conspiracy!

 

[Ken B]

It was a conspiracy!

Another moderator in need of self-moderation. Uhg.

:icon_mrgreen:

 

[DesertDiva]

Appraisers are not supposed to be on anyone's "team". We are required to report concessions and being a "team player" has nothing to do with it.

By being a team player I mean being polite & professional rather than angry & hateful.

Angry & hateful is the preferred mode around here among the appraisers & I have to wonder if it's really all that effective for you all.

Would appear not so much.

 

[Bearslide]

By being a team player I mean being polite & professional rather than angry & hateful.

Angry & hateful is the preferred mode around here among the appraisers & I have to wonder if it's really all that effective for you all.

Would appear not so much.

Sorry, Diva (love your handle) - no offense meant. Usually when someone uses the term team player and appraiser in the same sentence, what they really mean is the appraiser is supposed to make sure the target number gets hit and any property deficiencies are not disclosed. You know - nothing that could stop the loan or the sale. Some of us get just a little touchy on that subject.

I can't speak for your area, and I acknowledge that some appraisers get snotty with Realtors. I would agree there's no need for it - we're all just trying to do our jobs. Personally, I make every effort to be polite and explain that I know they're busy, but I just need a few minutes so I can verify some facts. Here, our MLS requires concessions to be shown. But not every Realtor does it, and they often will not show personal property included. And since Realtors are allowed to practice "puffery" in this state, I like to ask some questions about the condition of the property. Amazing what comes out in those conversations!

There is a flip side to this coin - I don't hit it often, but I do sometimes end up talking to a Realtor who has an attitude. Even then, I try to be polite - but it gets old. Again - we are just trying to do the job mandated for us.

 

[Bearslide]

It was a conspiracy!

Some days, I wonder..........

 

[Karl]

Every time there are arrest in the Real Estate Field be SURE to forward a copy of those arrest to those that are not cooperating with you. & just add a little blurp such as wonder how many of his friends he/she will rat out. Or hmmm wonder who he/she will add to the arrest list. Might give you just that small moment of pleasure, knowing that he/she may be wondering who is next.

Look at our own Jennifer!! Bet she never thought she'd see the names she got to see.

Next round of arrest coming shortly!!

 

[DesertDiva]

Sorry, Diva (love your handle) - no offense meant. Usually when someone uses the term team player and appraiser in the same sentence, what they really mean is the appraiser is supposed to make sure the target number gets hit and any property deficiencies are not disclosed. You know - nothing that could stop the loan or the sale. Some of us get just a little touchy on that subject.

I can't speak for your area, and I acknowledge that some appraisers get snotty with Realtors. I would agree there's no need for it - we're all just trying to do our jobs. Personally, I make every effort to be polite and explain that I know they're busy, but I just need a few minutes so I can verify some facts. Here, our MLS requires concessions to be shown. But not every Realtor does it, and they often will not show personal property included. And since Realtors are allowed to practice "puffery" in this state, I like to ask some questions about the condition of the property. Amazing what comes out in those conversations!

There is a flip side to this coin - I don't hit it often, but I do sometimes end up talking to a Realtor who has an attitude. Even then, I try to be polite - but it gets old. Again - we are just trying to do the job mandated for us.

To me a team player means we are all going to cooperate with each other to get things done as quickly & efficiently as possible. As a broker, it's never ruined my day when the appraisal comes in low. We go back to the table, big deal.

What I'll bet most appraisers don't realize is that buyers generally want referrals from us to local lenders. And despite what the cherished beliefs are around here, we don't refer to a lender based on their ability to purchase fake appraisals. We refer primarily based on efficiency. If the lender stays on top of things, gets docs in on time, etc & doesn't delay closings, that is one we like to use.

And local lenders & agents tend to get to know each other quite well in most communities.

It has not been a rare event to chat with a lender about a new transaction & ask who the appraiser is going to be. If it's one of the angry/hateful ones, we don't hesitate to speak up & let the lender know that particular appraiser is rude, obnoxious, condescending, whatever. And guess what the lender does? Goes to the next name on the list.

I'll be some of yall have lost a few orders.

I don't rep buyers anymore so it's not my issue but there are repercussions to treating people like crap.