Rebuttal from Listing Agent??

[Tim The Enchanter]

Just shoot it down. No need to waste time talking.

 

[glenn walker]

Happens all the time - The lender gives a copy to borrower and is told to get some better comps-They call their Realtor and He/she provides them. There is no Lender/Client Conflict because its the Lender or their AMC who is sending the appraiser the ROV request. Is it irritating ? Sometimes-but sometimes we all miss a good comp or make a mistake so I try to be open minded -I read the ROV look at the sales provided and determine if they are valid or not ? If they are NOT a simple one liner stating you reviewed them but they were not similar or that by using them would not change your opinion of market value, I have also had ones that if used would have reduced my opinion of market value and those kill a ROV real fast.

I have also had a few where a good sale had closed but somehow I missed it. So never say never. The main Reason I don't fight them is for two reasons-It helps the Lender get a nagging borrower off their backs because now they can say hey we tried but the appraiser says no change and keeps them from often losing a good borrower and also when the borrower gets a copy of the ROV if the appraiser responds in a polite and professional manner explaining why the sales given would not result in a change of value the borrower also cools down and 99% of the time the issue goes away. In the rare cases where the appraiser did miss a sale or made a mistake when he/she does change the value everyone involved in the transaction knows they had an-impartial professional who did their appraisal not some unflexable jerk and that can lead to referrals by both a buyer and the Realtors for private work , like estates or listing appraisals.

As far as Appraiser Lender/Client relationship -The appraiser has to understand the Borrower is represented by the lender and Fannie-Freddie-FHA-VA all allow the lender to request a ROV and the Comparables can come from the Realtors-Borrower-almost anyone the borrower authorizes- so there is no breach of the Appraisers Lender Client UNLESS the ROV is delivered directly to the Appraiser by the Realtor or Other Party the appraiser can respond. The AMC is a Client and representative of the Lender and they were given authorization by the Lender to deliver the ROV so there are no issue for the appraiser-The delivery of the ROV is evidence the Lender released the appraisal to the borrower . Also Lenders and AMC's do not typically look for comparables they are not appraisers or Realtors and the Loan Officer will tell their borrower to contact their Realtor who is the most logical person to provide the borrower with additional closed sales they believe will help raise the OMV.

 

[CANative]

Just shoot it down. No need to waste time talking.

 

[glenn walker]

Whats funny is appraisers love to say that an-appraisal is only an-opinion of value BUT that's only when its their opinion of value anyone else's is automatically wrong and they become highly agitated when challenged : ) LMAO

 

[Dale Smalley]

I wait until my blood stops boiling and just answer the question and why I am not changing my value.

 

[J Grant]

Whats funny is appraisers love to say that an-appraisal is only an-opinion of value BUT that's only when its their opinion of value anyone else's is automatically wrong and they become highly agitated when challenged : ) LMAO

... An appraisal is not "only" an opinion ( I agree that is stupid description ), it is a credibly supported opinion - and the opinion/appraisal can take hours or days,while the agent or party takes five minutes to find cherry picked sales to support their price or value target and send them - then we get stuck wasting time addressing what 98 % of cases turns out to be nonsense....

 

[Terrel L. Shields]

She legally should not have a copy of it unless the lender/client gave written permission.

Not true. If you've written your privity clause correctly, she would be informed that those other than the client are not to rely upon the report. Since forwarded thru the AMC, respond to the AMC. Impeach the two sales and go on.

 

[Deleted member 152047]

Whats funny is appraisers love to say that an-appraisal is only an-opinion of value BUT that's only when its their opinion of value anyone else's is automatically wrong and they become highly agitated when challenged : ) LMAO

We are paid to defend our value, but you have a great point. On the commercial side, we invest several days or weeks into a single point of value. It can be difficult to be challenged, but it is part of the job.

Shooting it down, not replying, or otherwise not answering in a professional manner is not going to solve the problem and may cost you a client. Sometimes that is a good thing, but most of the time you look like the a@@.

 

[George Hatch]

A client can't make an informed choice about what additional data is or isn't worth considering unless we provide them with the info to make that choice.

 

[The Bob]

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.

It's purely a business decision.

(c)Exceptions
The requirements of subsection (b) shall not be construed as prohibiting a mortgage lender, mortgage broker, mortgage banker, real estate broker, appraisal management company, employee of an appraisal management company, consumer, or any other person with an interest in a real estate transaction from asking an appraiser to undertake 1 or more of the following:
(1)Consider additional, appropriate property information, including the consideration of additional comparable properties to make or support an appraisal.
(2)Provide further detail, substantiation, or explanation for the appraiser’s value conclusion.
(3)Correct errors in the appraisal report.