Revision denied... Appraiser can explain basic principal of supply & demand for an additional fee

[cdanj]

This one company makes up about 7% of my work and takes up about 15% of my time.
My QC response to stupid questions.
2.) Shortage is checked for Demand/Supply in the neighborhood section. Please comment on the cause of the under supply and comment if there is any impact on marketability.

Request denied. Comments exist in current report sufficient for the intended user, an industry professional, to readily understand and interpret the report. If the client requires further explanation the appraiser can furnish a narrative addendum, delving into the basic principals of supply and demand and their application to the current real estate market in the subject area for an additional fee.


~~~~~~~
Some boiler plate I've saved for the same client.
An explanation of how adjustments work and how the amounts were derived is contained in the summary of sales comparison approach below the sales grid

To further summarize as requested above exceeds level of detail required to produce credible results easily interpreted by the intended users of this report who are industry professional accustomed to reading and interpreting appraisal reports. Were the intended user a laymen a more extensive summarization would be required to fulfill the scope of work.
If the user(s) requires more explanation than that which has been provided, appraiser will furnish a narrative appraisal addendum to this report for an additional fee reflecting fair compensation for the requested expanded scope of work.

 

[J Grant]

This one company makes up about 7% of my work and takes up about 15% of my time.
My QC response to stupid questions.
2.) Shortage is checked for Demand/Supply in the neighborhood section. Please comment on the cause of the under supply and comment if there is any impact on marketability.

Request denied. Comments exist in current report sufficient for the intended user, an industry professional, to readily understand and interpret the report. If the client requires further explanation the appraiser can furnish a narrative addendum, delving into the basic principals of supply and demand and their application to the current real estate market in the subject area for an additional fee.


~~~~~~~
Some boiler plate I've saved for the same client.
An explanation of how adjustments work and how the amounts were derived is contained in the summary of sales comparison approach below the sales grid

To further summarize as requested above exceeds level of detail required to produce credible results easily interpreted by the intended users of this report who are industry professional accustomed to reading and interpreting appraisal reports. Were the intended user a laymen a more extensive summarization would be required to fulfill the scope of work.
If the user(s) requires more explanation than that which has been provided, appraiser will furnish a narrative appraisal addendum to this report for an additional fee reflecting fair compensation for the requested expanded scope of work.

If I were the client, I would not use you again - not that it matters if they are 7% of your work.
That is lazy to refuse them a simple explanation beyond boilerplate.

Why is there a shortage??? Is the area in demand with few properties coming on the market? (examp;le ) There is a reason why you wrote that, or there should be a reason.

 

[cdanj]

Funny you should say that, “the area is in demand with few properties coming on the market” and selling quickly over asking price due to buyers competing for limited inventory. — that’s what I wrote in the report. Is that good enough for ya? And I just crunched the numbers it’s more 5% of my work, but still 15% of my time with bull**** revision requests from QC that doesn’t actually read the report.

 

[Dublin ohio]

Funny you should say that, “the area is in demand with few properties coming on the market” and selling quickly over asking price due to buyers competing for limited inventory. — that’s what I wrote in the report. Is that good enough for ya? And I just crunched the numbers it’s more 5% of my work, but still 15% of my time with bull**** revision requests from QC that doesn’t actually read the report.

The only thing I would have added is "why there is limited inventory".

 

[cdanj]

The only thing I would have added is "why there is li

The only thing I would have added is "why there is limited inventory".

dont get me wrong, they asked for 5 things and this was the only one I denied. The weird thing is that over the last two months I’ve been replying like this when they ask for things already explained in the report and they keep sending me work. And actually, they’ve lightened up on me a bit. I even raised my rates with them citing excessive and redundant revision requests. Yesterday one of their QC people, who I had just sent a response like this to, actually called me about another matter and couldn’t have been friendlier on the phone. It’s weird. I’m usually super accommodating to my accounts. But this one’s out of control.

 

[Mike Ault]

Someone on here posted a retort for idiocy such as that which I've used over the years to great effect, particularly recently while everybody's busy training up their automated underwriting systems at our expense. "Why are you wasting $50 of my time responding to your 5¢ review of my appraisal? Appraiser examined the letter of engagement for this assignment and found no reference to addressing every concern raised by an automated underwriting system. I will respond, however, appropriately & professionally when a qualified person actually reads my appraisal and has a legitimate question which requires additional commentary."

Feel free to use and/or modify as necessary.

 

[Zoe]

This one company makes up about 7% of my work and takes up about 15% of my time.
My QC response to stupid questions.
2.) Shortage is checked for Demand/Supply in the neighborhood section. Please comment on the cause of the under supply and comment if there is any impact on marketability.

Request denied. Comments exist in current report sufficient for the intended user, an industry professional, to readily understand and interpret the report. If the client requires further explanation the appraiser can furnish a narrative addendum, delving into the basic principals of supply and demand and their application to the current real estate market in the subject area for an additional fee.


~~~~~~~
Some boiler plate I've saved for the same client.
An explanation of how adjustments work and how the amounts were derived is contained in the summary of sales comparison approach below the sales grid

To further summarize as requested above exceeds level of detail required to produce credible results easily interpreted by the intended users of this report who are industry professional accustomed to reading and interpreting appraisal reports. Were the intended user a laymen a more extensive summarization would be required to fulfill the scope of work.
If the user(s) requires more explanation than that which has been provided, appraiser will furnish a narrative appraisal addendum to this report for an additional fee reflecting fair compensation for the requested expanded scope of work.

May have went a little over the top on response. If you have like info from form 1004MC in report, you could have done revised report and said please see 1004MC. In a revised report, at least you addressed the issue and could have referred them to section of original report.

 

[jay trotta]

This one company makes up about 7% of my work and takes up about 15% of my time.
My QC response to stupid questions.
2.) Shortage is checked for Demand/Supply in the neighborhood section. Please comment on the cause of the under supply and comment if there is any impact on marketability.

Request denied. Comments exist in current report sufficient for the intended user, an industry professional, to readily understand and interpret the report. If the client requires further explanation the appraiser can furnish a narrative addendum, delving into the basic principals of supply and demand and their application to the current real estate market in the subject area for an additional fee.


~~~~~~~
Some boiler plate I've saved for the same client.
An explanation of how adjustments work and how the amounts were derived is contained in the summary of sales comparison approach below the sales grid

To further summarize as requested above exceeds level of detail required to produce credible results easily interpreted by the intended users of this report who are industry professional accustomed to reading and interpreting appraisal reports. Were the intended user a laymen a more extensive summarization would be required to fulfill the scope of work.
If the user(s) requires more explanation than that which has been provided, appraiser will furnish a narrative appraisal addendum to this report for an additional fee reflecting fair compensation for the requested expanded scope of work.

IMO- would leave out the (highlighted in red) as always, appraisers tend to write more than needed.
just my $.02 worth

 

[sputnam]

Why is there an undersupply? There are more buyers seeking property than there are sellers wanting to sell. What? You want me to explain the sociological and economic causes for the demographic trend in the subject neighborhood? Come on, really? I'm an appraiser, not an economist.

 

[Zoe]

Why is there an undersupply? There are more buyers seeking property than there are sellers wanting to sell. What? You want me to explain the sociological and economic causes for the demographic trend in the subject neighborhood? Come on, really? I'm an appraiser, not an economist.

The key indicators are days on market and months of supply on competing properties.

It is very subject relative. A 20 million property would be different from a $100K property.

Always focus on subject real property rights.