Undue influence from realtor

[Gary Schinagel]

No there's not two sides, agents/Realtors do not pick appraisers. But hey if that's how you get your business go ahead and disclose it in your report or better yet I hope your clients are disclosing their procedures to their funding sources. I wonder how that will go over with the regulatots or in the secondary market? Oh boy here we go. But since you want to throw down the gauntlet I'll give it a go. Go ahead and post your best and I'll just post one I'm working on now (it's on Ridgeway). It isn't Shakespeare but I didn't have to rely on a Realtor for it.

Dont you know YOU CANT send clients reports Ms know it all. Assume nothing. Advice from you is no advice!

 

[Gary Schinagel]

If you are a Realtor member and they are a Realtor member, bring the matter to the attention of their Broker and ask for a remedy. If that does not work, then take it to the state board or local board (whomever has the authority). Then the RE commission. solicitation to commit a fraud is a crime in most states.

Really!

Slander to Fraud now. Sheez:Eyecrazy: I am not sure any of you are qualified to give legal advice. This would be put to rest with a good RE attorney. Im sure you guys can get a competent one, of course right off the shelf. No recommendations Please!

 

[Non Sequitur]

Dont you know YOU CANT send clients reports Ms know it all. Assume nothing. Advice from you is no advice!

Oh man, another newbie troll.

 

[Mike Boyd]

When I was selling real estate, I wanted to control ALL aspects of the transaction. There wern't as many lenders in those days nor as many appraisers. Typically, I could NOT pick the lender but I could recommend a lender whom I thought to be offering the best rate and terms for the area in which the property was located....and the TYPE of property.

So, I would ask my buyer who they were going to use for a lender. If they were not the one I recommended I simply wanted to know WHO so I could follow up and to find out who their appraiser was in order to stay on top of what was going on. If that appraiser happened to be one that was a known deal buster I would tell my lender contact what I knew about him or her. If they would not change appraiser I would make certain that I was the only contact for access to the property and I would be there when the property was inspected along with a package of comps and other details about the house and the neighborhood as well as the community. I can only recall one property where I had problems with the appraisal and it was not the appraisers fault. The property was marginal when it came to similar properties and it just could not be comp'd out in any way that made sense.

The moral to my story is that if an agent is concerned about an appraisal, that agent should accompany the appraiser during the inspection with all the data he or she needs. If it turns out bad, it is likely the RE agent's fault for either misprepresenting the property or not providing the right data.

 

[Mike Boyd]

0123456789

 

[Mr Rex]

Wow I am also a Real Estate Broker and Mortgage Broker and do not understand .....m2:

Save your breath Non, this one is past the do not resucsitate state.

 

[Timothy Fierek]

I can only recall one property where I had problems with the appraisal and it was not the appraisers fault. The property was marginal when it came to similar properties and it just could not be comp'd out in any way that made sense.

The moral to my story is that if an agent is concerned about an appraisal, that agent should accompany the appraiser during the inspection with all the data he or she needs. If it turns out bad, it is likely the RE agent's fault for either misrepresenting the property or not providing the right data.

In my particular 2 cases the first property was marginal when it came to similar properties and there was no way in the world it was ever going to comp out. When something is less than 800 sq. ft. with 2 bedrooms and 1 bath 50+ years old with minimal updates, in a small community, the comps are limited. While limited they still were adequate value indicators and the sale price was simply too high. When complaining to the lender the only information that the realtor could supply for consideration was the tax bill and claims that other companies in this market will not use my company.
In the 2nd case the property was completely mis represented, there is nothing closed, active, or pending to support anything remotely close to the sale price, and the condition report was clean, even though the basement walls are all bowed and there is a foundation crack 8 feet long. I would have been more than happy if the realtor had accompanied me to this property and supplied me with some information.
The fact of the matter is though, that they have no information to supply for consideration because they know they have misrepresented the property.
I have never had any issue with a realtor accompanying me to a property. I have never had an issue considering information that a realtor has supplied me with. I have never had an issue taking a look at information that may have not been available to me during the appraisal process. I do however have an issue with bully realtors that cannot supply any infomation whatsoever to support their case and think I am going to take another look at an appraisal because they know so and so, or they own this or that, or they have been in business x amount of years.
So many of these folks have been doing things wrong for so long that they think it is right. Doing it wrong forever does not make it right.

 

[Mike Kennedy]

Violations of the NAR Ethics Code and slander are .....what they are.

 

[Offshore]

Definition of lapdog :.
(lăp-dôg)
1. 1. (n.) A submissive individual who is socially dependent on the leader of the group. The lapdog will always do what the group leader asks without question.

 

[aussie ken]

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?

Hi Timothy.....straight up from Down Under..........dont muck about and stew on it ......... immediately see a solicitor straight away and have him send the realtor a firm letter about his conduct and future consequences. Invite the agent to feel free to call you if he has a problem with your reports.........