Undue influence from realtor

[Mike Garrett RAA]

The realtors do not pick appraisers but they are entitled to have opinions regarding competency or anything else for that matter. I am not contesting the fact that there needs to be impartiality. The realtors did not order the apprasial or were not able to change it. The system worked. Im stating the issue was already resolved and that now one should be creating needless stress. You guys are not the one who has to pay for the litigation. Have you ever had a value adjustment? Have you ever disagreed with a review. Thats what we are talking about here. Now opinions and slander are two different things. I do not agree with realtors picking anybodys report apart but we work with realtors every day verifying information regarding the market and very often know much more than some of these apprasiers that came out of Taco Bell and have never been in construction or realestate before. My advice is to take the negative and make it a positive. The realtor obviously did not pick the appraiser and they should of course ,not have the type of power to do so. But they ARE allowed to refer reputable Lenders and Appraisers. What I have noticed is alot of finger pointing going on here. And I am abolutely sure that no-one has ever been referred an assignment. This internet thing has made personal relationships absolete. Part of protecting the Bank is established reputable professional relationships. The Banks went down because creative no doc financing was falsley inflating the market. You and others are always placing the blame on our profession directly or indirectly it affects you. From my experience there is only a select KNOWN few appraisers that do not care about protecting their license much less the intergity of the profession as a whole.I am an advocate for honest up front communication. Listen to the answers on the extreme right side. There is no resolution. Thats not advice thats criticism and mud throwing. YOUR WRONG TO ACUSE APPRAISERS AS THE REASON FOR THE STATE ECONOMY. tHEY BAD ONES WERE JUST A SMALL CONTRIBUTING FACTOR(that should be on bad lists). Most apprasiers are within 2% Give me a break. Taking the high road I can tell you is sound advice. People pick your services off lists every day AMC's were not around forever and even they are owned by the Lending institutions AND PICK YOU OFF A LIST. NOBODY PICKED THE APPRAISER HERE. someone is getting advice for INITIATING slander suits. I pray wholeheartily EVERYBODY GET OFF YOUR BETTER THAN ME BANDWAGON that's TUPID!!! I just completed an FHA order that complained about my low value. But it does not matter because that appraisal is attached regardless they cannot change our values without reasoning and they CAN talk all they want its a free country. Its a mute point. With additional research and here in this forum I was able to weed out the right protocol. I am not the Bad guy here. Yours along with others litigation advice is well noted I just think its ridiculous frenzy feeding attitude that does nothing to promote our industry. With no sold resolution or advice. In 12 years appraising I do not know of having one value adjustment EVER. Undue influence can not be had by the realtor they were complaining but out of the loop. What we are talking about is SLANDER LITIGATION. Thats not sound advice thats LAZY HOLY ROLLER TYPE that is eating their own:new_all_coholic:. People can have integrity without BASHING. But as I read here this darn thing is beat dead.Thanks for the reading

Do us all a favor...break your posts down into paragraphs! This is way too hard to read as posted. Same is true with your appraisal reports...consider the reader.

 

[Timothy Fierek]

I am not starting any sort of litigation. What these realtors did does fit the definition of slander and tortious interference of business. And all of the protocal to prove these have been met. I however chose the route to report them to the local Realtors Association, the WI Dept. of Regulation and Licensing, the WI Dept. of Agriculture Trade and Consumer Protection, and the Attorney General's Office.
The issue in this area goes a lot deeper than these 2 instances. There are a group of business professionals in this market (including reatlors and bankers) that have been boycotting appraisers, home inspectors, well and septic inspectors, heating and cooling contractors, etc. Some have gone so far as to hold monthly meetings in which they have a list of business professionals that all of their associates and affiliates are to dissuade work from.
These 2 instances brought to light some more of these connections, further proving claims that I have brought before the United States Dept. of Justice Antitrust Division several months ago.
These 2 instances just pushed me over the edge and it is sickening to see not only consumers getting ripped off, but honest professionals that do a good job losing business and being portrayed in a negative manner because they will not join the ranks of the "good ol' boys club." And it is not scratch my back and I will scratch yours, it is scratch my back or I am going to stab yours.

 

[Offshore]

Gary after suffering though your posts on this thread and trying to make some sense of it, I realize it’s futile. It is you sir who appear to be one of the “Taco Bell” appraisers which you alluded to. It is no secret your type of appraiser is considered a “Burrito Supreme” guaranteed deal in the realtor gang you run with. Such behavior is an embarrassment to anyone in this business.

 

[Michigan CG]

Wow I am also a Real Estate Broker and Mortgage Broker ......... The Realtors have every right to refer quality people all along the way. ITS THEIR Job to smooth things through closing......

The definition, if you read between the lines, is the quality people (appraiser) is the one who will hit the number. It may be their job to smooth things out through closing, but it is not their job to influence a lending institution on picking an appraiser.

A commissioned sales person should not have any say in who appraises the property.

 

[Brockway]

I inspected a home a couple of weeks ago where I met the broker. He complained about another appraiser who killed one of his deals by $2,000. He said we are not that good to kill his deals by $2,000. He bragged that he told the appraiser he will never appraise another one of his sales and he said convinced the client to remove the appraiser from their approved list. I did not appreciate his arrogance but I was concentrating on the job at hand, not some other appraisers work.

On another note, though, he did convince the bank to get a second appraisal. I did not know the first appraiser but I do know the second one very well. The second appraiser is a very good, honest appraiser so if she appraised the home for the purchase price I would bet she is correct. So maybe the agent had every right to complain about the appraiser (just not threaten him and have him removed from the client's roster).

 

[Green Hornet]

Brockway,

Regardless of the quality of the appraisal, I highly doubt that $2000 would have killed the deal! I am sure that might be possible, but if the all parties really wanted to proceed, they would have figured it out.

Many times it is one of the parties involved that does not want to move forward and uses the appraisal as an excuse.

 

[Mike Garrett RAA]

Would be interesting to know the sales price???

I have a comfort zone of about 3% and if I was $2,000 below a contract would have to look really hard at my appraisal.

 

[Green Hornet]

"Im on vacation got plenty of time to keep it going"

Gary, if you are really on vacation, get off the da.n computer and go have some fun. :new_all_coholic:

 

[Green Hornet]

Mike,

I agree. If I came in $2000 under the contract , I would need to feel extremely rock solid about my appraisal if the contract was for the average price in my neck of the woods. Maybe it was a sale for $50,000?

 

[Michigan CG]

Killing a deal coming in $2,000 under.....

I am just not that good of an appraiser. One must consider that you have comparables but you also have a willing buyer and a willing seller and the subject is in itself a comparable. There are things that the buyer might have seen in the property that the quantitative appraisal does not address.

Appraising is not a perfect science, and cannot address all qualitative aspects of the property as seen in the buyer's eyes. I am not good enough to be only $2,000 off of the contract price on say a $100,000 home.