Rebuttal from Listing Agent??

[bnmappraisal]

I get it. I know the process about the agent and the appraised value. I have my RE license as well. But technically I don't have to do anything about this rebuttal since the LA is not an intended user of the report. I have a disclaimer in my report that clearly states this. I would expect this rebuttal coming from the lender via buyer's agent, not the LA.

(my bold) then I think it comes down to a business decision on your part

Personally, I don't care who sends over the request, if it came from my client (a.k.a in this case, the AMC). Their "Aunt Harriett who used to be an agent" could have told them to ask me ... if it comes from my client (a.k.a. the AMC/lender) and they are a good/decent client, then I would respond

If they're not a good/decent client and you want to get technical about it and not respond, that's fine too. I just think they may become a "former" client. Again...business decision

 

[CANative]

I had the sellers agent on the $990k one I finished last week call me Saturday at about 8 p.m. At first he was politely confrontational but 30 minutes later he sounded mollified and kind of embarrassed. I encouraged him to send the lender better sales so my client could ask me to reconsider. He said there were only about 10 sales and they all had 80 to 120 acres, higher quality houses, better views or vineyards.

Then he told me they had a million dollar offer and an offer a little bit lower than my value. The conversation turned to small talk.

Point is, when I get agents, borrowers, etc, want me to change my mind, I tell them exactly how to do it.

 

[J Grant]

I recently did an appraisal as a purchase for a lender thru an AMC. The appraised value came in lower than the contract price. Now I get a rebuttal request from the AMC. They are providing 2 other sales and lots of commentary, but it appears that this rebuttal was written by the listing agent and sent to the AMC via the lender. Since the lender is the client and the only intended user, I am not obligated to answer correct? The listing agent is not an intended user of the report. She legally should not have a copy of it unless the lender/client gave written permission. Not sure how to proceed with this. I have not done a response yet, but was thinking, wait a min, why does the LA have the appraisal report?

The family dog can submit it - allowed under Dodd Frank for clients to send additional sales or info to appraiser regardless that the party is not an intended user, has a vested interest or that the sales are garbage. Refuse to answer it and lose the client. Though they can not force you to, answer, they are free to stop sending work if you don't. I only do business with clients that send these sparingly.

Respond as briefly as possible as to why two sales are less similar than the the ones used in the appraisal ( unless they found a good sale that deserves consideration, it can happen )

 

[Fernando]

This happens often more than you think.
Agent calls...blah, blah, blah.
I said I need a formal request from my client regarding your issue. Otherwise, no way for me to send via their portal.
But thanks for the heads up. Bye.

 

[George Hatch]

IMO

We sell our credibility in every appraisal report we submit. On those occasions when I know I'm not hitting someone's desired outcome - which is often - I make the switch from defense to offense. At that point my goal is no longer limited to supporting why I think I'm right; I'm also going to actively set out to demonstrate why I think the opposition is wrong. Why I think that no reasonable person outside this transaction would consider their conclusion to be better supported by the data than mine.

I start out in my neighborhood analysis by getting more specific about it's composition and overall pricing trends for all properties therein. The subject usually fits in there somewhere. By itself that step alone imposes a barrier for the opposition to overcome when they claim a value conclusion that obviously exceeds the neighborhood's demonstrated performance. I do the same for my market segment (obviously in a difference section of the report)

I spell my dominant search parameters out in a little detail and comment that properties that don't fit these parameters cannot be considered more directly comparable than the properties which do fit those parameters. If I'm aware of a couple outliers I address them directly; I don't wait for the opposition to claim that I "missed" them.

It's like Conan said

Q: What is best in life?​

​

A: "Crush your enemies, see them driven before you, and hear the lamentation of the (brokers)!"​

 

[Fernando]

I gave up on Zuckerberg"s, detroy thy enemy mentality. It eats you up.
I just respond back with my analysis and explanation of their comps and reasoning.
It takes up your time responding but it's part of the expectation in purchase appraisals.

 

[alebrewer]

Regardless of who wrote the ROV, the OP said it 'came from the client' through the AMC, which means the client submitted the ROV. In which case, and assuming the ROV conforms with AIR guidelines, the appraiser would be responsible to address the concerns.

 

[Fernando]

The client would respond humbly that so and so would like appraiser to consider these comps.
Client indicates at no way is client asking appraiser to change value but to consider them.
It's a nice way of client to tell us to respond for the so and so client.

 

[J Grant]

I gave up on Zuckerberg"s, detroy thy enemy mentality. It eats you up.
I just respond back with my analysis and explanation of their comps and reasoning.
It takes up your time responding but it's part of the expectation in purchase appraisals.

An ROV or rebuttal request can happen in a refinance appraisal too.

 

[Fernando]

Sure refinance have crybabies too.
Purchase appraisals require more work. You have to analyze the contract and each party uses your report for their own cause not just the client.