Undue influence from realtor

[Timothy Fierek]

Is there a case for undue influence from realtors if they call my clients (lenders) and slander my company for not hitting value, and then argue with the lender and try to persuade them to reconsider the value and appraisal with no evidence or support of a higher value?
Is there a case for undue influence if a realtor calls my client before I even view a property and tell my client that there will be an issue with value if myself or my firm does the appraisal?

 

[Michigan CG]

How do you know about the "influence"; do you, or can you, get it in e-mail?

 

[Timothy Fierek]

I spoke with the reps at both of the credit unions who were my clients. They told me what was said by the realtor in each conversation. The realtors are from the same firm and the transactions were within 2 weeks of eachother. I called both realtors and one admitted that he said exactly what I claimed.
I have filed complaints with the State Dept of Regulation and Licensing, Dept. of Ag & Consumer Protection, and the State Attorney General Office.

 

[Dennis J. Black ASA IFAS]

Talk to an attorney about Tortious Interference of Business.

 

[Mike Garrett RAA]

So, you are saying the real estate agent said..."if you use that appraiser, I won't do business with you"? I think they have that right even if it might not be justified.

Think of it this way....

You take your car to a dealership for service. The mechanic who does the job screws it up. Now you want to take your car back to the dealership...do you have the right to say...."I don't want that mechanic touching my car!".

 

[Non Sequitur]

So, you are saying the real estate agent said..."if you use that appraiser, I won't do business with you"? I think they have that right even if it might not be justified.

Think of it this way....

You take your car to a dealership for service. The mechanic who does the job screws it up. Now you want to take your car back to the dealership...do you have the right to say...."I don't want that mechanic touching my car!".

You are way off base Mike. How in the world does the agent have any say in what appraiser the bank uses when even the LO doesn't have a say? I know, I know, in the real world this happens all the time but it's not a function of the rules and regs in place, it's a function of nearly everyone ignoring them. The line of thinking that agents/LO's/builders/ad nauseum can pick appraisers is why we're at a point where a blind rotation may be implemented.

Go get em' Timothy. If they're a Realtor file an ethics complaint, not that it will do much good but at least it will be on record.

 

[Mike Garrett RAA]

I don't think I am off base, it's a business decision on the part of the real estate agent. Didn't say I think it's right, didn't say I think it's wrong. Fits right in there with..."a mandatory rotation of all licensed appraisers".

 

[Timothy Fierek]

Mike, it is not the realtor that my client is doing business with. These realtors steer their customers to mortgage brokers and appraisers that they are affiliated with. They want their hands in every aspect of the transaction. That is not how it is supposed to work. They contacted MY clients and were interfering, in one case because they knew there would be a problem with value because they were ripping the buyer off.
Realtors have nothing to do with the rotation of appraisers. That is the duty of the bank or credit union. Both of these clients indicated that the reason I am on their approved list for this area is because I am not unduly influenced by realtors in this particular market. The realtors were not saying that they would not do business with my clients, they were attempting to discredit my company in an effort to get my clients to reconsider the appraisal, or who was getting the appraisal.
I would think that being an AQB instructor that you would understand this.
I am not going to put up with intimidation and undue influence from sleazy realtors that steer their clients to shady mortgage brokers that use appraisers who target values in order to get the transactions closed.
If more appraisers were not scared that they were going to lose work due to influence applied by outside sources, the market would be in much better shape than it is today.
I am following throught with my complaints, as I have done nothing wrong. I perform appraisals with strict adherence to USPAP and all applicable law.
Realtors do not set market prices. In this area they think they do.
Go ahead and pick this reply apart.
Thanks.

 

[Timothy Fierek]

And by the way, both of these clients do rotate appraisers and have a separate unit completely separate from the loan officers that order the appraisals.

 

[CANative]

This is so wrong. File all the complaints with whoever you can think of. Start with NAR and tell them you're going public on it.

I've posted a series of letters we got from a Realtor pressuring my dad and I and making threats about getting us blackballed in the local real estate community unless we changed our value on one of her deals.