Comments on: To Listing Agents: How To Win Friends and Influence Appraisers http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/ Internet Money! Money On The Internet! Thu, 18 Mar 2010 19:36:49 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: Make it Happen! | Real Estate Radio USA http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1715 Make it Happen! | Real Estate Radio USA Mon, 07 Jul 2008 21:20:08 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1715 [...] your buyer buys a car the day before closing, make the deal happen to the best you can. Perhaps the appraiser missed an obvious comparable, did you miss it [...] [...] your buyer buys a car the day before closing, make the deal happen to the best you can. Perhaps the appraiser missed an obvious comparable, did you miss it [...]

]]> By: Mike Lefebvre http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1538 Mike Lefebvre Thu, 03 Jul 2008 17:45:29 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1538 Fair enough. Appraising is different for all different parts of the country. Sometimes I forget how lucky I am to have a wealth of research available online to perform most all of the due diligence needed. I'm also lucky to be able to limit my territory to a fairly small market area. I tend to appraise in a lot of the same towns and the same neighborhoods, which helps. I know by heart the zoning for most of the towns I cover. Field cards and plot plans are very informative and 99% available online at 10pm at night (often when a lot of us end up writing our reports). I can see how your situation may be a heck of a lot different! Just curious. Do Oklahoma appraisal fees run similar to here in Massachusetts? I charge $275 ($300 for some clients) for SF and $450 for MF. Fair enough. Appraising is different for all different parts of the country. Sometimes I forget how lucky I am to have a wealth of research available online to perform most all of the due diligence needed. I’m also lucky to be able to limit my territory to a fairly small market area. I tend to appraise in a lot of the same towns and the same neighborhoods, which helps. I know by heart the zoning for most of the towns I cover. Field cards and plot plans are very informative and 99% available online at 10pm at night (often when a lot of us end up writing our reports). I can see how your situation may be a heck of a lot different!

Just curious. Do Oklahoma appraisal fees run similar to here in Massachusetts? I charge $275 ($300 for some clients) for SF and $450 for MF.

]]> By: Annemieke Roell http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1537 Annemieke Roell Thu, 03 Jul 2008 17:36:02 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1537 Mike, In a non-disclosure state like Oklahoma doing due dilligence on research is often a challenge, even in the cookie cutter appraisal. Add to that complex, rural, etc etc etc and you can be out of time quickly. You show me one of those that were turned around in 24-48 hours and I'll show you all the short-cuts, canned comments and lack of research/analysis. Mike,

In a non-disclosure state like Oklahoma doing due dilligence on research is often a challenge, even in the cookie cutter appraisal. Add to that complex, rural, etc etc etc and you can be out of time quickly. You show me one of those that were turned around in 24-48 hours and I’ll show you all the short-cuts, canned comments and lack of research/analysis.

]]> By: Mike Lefebvre http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1535 Mike Lefebvre Thu, 03 Jul 2008 17:02:08 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1535 Annemieke (love the name!) Thanks for your comment. Point taken. I guess it's more of a personal mandate that I get my T's crossed and I's dotted within 24-48 hours after the inspection. I agree that a "good" appraiser can not be judged by his/her turn time alone. We all know there are reports that flow from the keyboard and fall nicely into place with ease and then there are those that seem to have something against us getting them written. This almost leads into a whole other post about appraiser pressure, doesn't it? Thanks for reading and taking the time to comment. I really appreciate it! All My Best, Mike Annemieke (love the name!)
Thanks for your comment. Point taken. I guess it’s more of a personal mandate that I get my T’s crossed and I’s dotted within 24-48 hours after the inspection. I agree that a “good” appraiser can not be judged by his/her turn time alone. We all know there are reports that flow from the keyboard and fall nicely into place with ease and then there are those that seem to have something against us getting them written.

This almost leads into a whole other post about appraiser pressure, doesn’t it?

Thanks for reading and taking the time to comment. I really appreciate it!

All My Best,
Mike

]]> By: Annemieke Roell http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1519 Annemieke Roell Thu, 03 Jul 2008 11:31:43 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1519 Enjoying your blog. Just one thing I have an issue with: "Depending on their work load (which is lighter for most these days), good appraisers will turn-around their completed appraisal report within 24-48 hours after seeing the house." How good an appraiser is is not determined by his/her turn time. As an appraiser who performs many retro-spective reviews, I can say that many appraisals that were turned around quickly lack substance, analysys, are sloppy and are rarely USPAP compliant. A good appraiser does all the research and due dilligence, provides proper data and market analysis and even bothers to research things like the proper zoning rather than throwing in "residential". Form fillers have quick turn times. Real appraisers will send the appraisal in when all the tTs are crossed and Is are dotted. Enjoying your blog. Just one thing I have an issue with:

“Depending on their work load (which is lighter for most these days), good appraisers will turn-around their completed appraisal report within 24-48 hours after seeing the house.”

How good an appraiser is is not determined by his/her turn time. As an appraiser who performs many retro-spective reviews, I can say that many appraisals that were turned around quickly lack substance, analysys, are sloppy and are rarely USPAP compliant.

A good appraiser does all the research and due dilligence, provides proper data and market analysis and even bothers to research things like the proper zoning rather than throwing in “residential”.

Form fillers have quick turn times. Real appraisers will send the appraisal in when all the tTs are crossed and Is are dotted.

]]> By: Mike Lefebvre http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1208 Mike Lefebvre Thu, 05 Jun 2008 14:37:20 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1208 Lara, Thank you! And I agree about the pendings and actives. I am always include them on the third or fourth page. I just don't want listing agents to present me ONLY with actives and pendings...obviously that won't fly and doesn't help anyone get the deal closed. Thanks again for the kind words. I really appreciate it! All My Best, Mike Lara,
Thank you! And I agree about the pendings and actives. I am always include them on the third or fourth page. I just don’t want listing agents to present me ONLY with actives and pendings…obviously that won’t fly and doesn’t help anyone get the deal closed.

Thanks again for the kind words. I really appreciate it!

All My Best,
Mike

]]> By: Lara http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1207 Lara Thu, 05 Jun 2008 14:00:28 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1207 This article should be published in every real estate agent newsletter, magazine, website! Too often the appraiser and agent relationship is one-sided...especially when the appraiser needs more information about a comparable sale, and has only 24-48 hours to complete the appraisal. I would like to add something to the "relevant comps" point...with current market conditions being stable at best, if not declining, some of your best comps may be pending sales or even active listings. While there should always be 3 closed sales in the appraisal, using pendings/actives as comps 4-6 could further support your value especially if you are making time adjustments. After all, the subject would be competing against those listings if on the market. Adding a 4th comp that is an active/pending sale has been a requirement with my company, a national lender, for years. Just something to think about! This article should be published in every real estate agent newsletter, magazine, website! Too often the appraiser and agent relationship is one-sided…especially when the appraiser needs more information about a comparable sale, and has only 24-48 hours to complete the appraisal.
I would like to add something to the “relevant comps” point…with current market conditions being stable at best, if not declining, some of your best comps may be pending sales or even active listings. While there should always be 3 closed sales in the appraisal, using pendings/actives as comps 4-6 could further support your value especially if you are making time adjustments. After all, the subject would be competing against those listings if on the market. Adding a 4th comp that is an active/pending sale has been a requirement with my company, a national lender, for years. Just something to think about!

]]> By: Mike Lefebvre http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1206 Mike Lefebvre Thu, 05 Jun 2008 13:35:45 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1206 Thank you for the comments Susan and Gregory! It's great to hear from people of the same breed. I feel our unique combination of skills positions us well to provide insight to both sides of the appraiser-Realtor relationship. Ever since the lending requirements have gotten stricter, more and more agents in my office are coming to me with appraisal questions. A few years ago, if you signed a P&S and had a pulse, the deal went together. Now that things have returned to normal, I think this message is more important than ever. Thanks again! I really appreciate the time you spent reading and commenting. -Mike mike@theuncommonagent.com Thank you for the comments Susan and Gregory! It’s great to hear from people of the same breed. I feel our unique combination of skills positions us well to provide insight to both sides of the appraiser-Realtor relationship. Ever since the lending requirements have gotten stricter, more and more agents in my office are coming to me with appraisal questions. A few years ago, if you signed a P&S and had a pulse, the deal went together. Now that things have returned to normal, I think this message is more important than ever.

Thanks again! I really appreciate the time you spent reading and commenting.

-Mike
mike@theuncommonagent.com

]]> By: Greg Dalessio http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1204 Greg Dalessio Thu, 05 Jun 2008 11:30:15 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1204 As both a State Certified Appraiser and a Realtor I thought this was right on target! Great job Mike! Gregory H. Dalessio St. Cert. Res. REA # Rd 2759 SL # 571729 As both a State Certified Appraiser and a Realtor I thought this was right on target! Great job Mike!

Gregory H. Dalessio
St. Cert. Res. REA # Rd 2759
SL # 571729

]]> By: Susan Lynn, CRA, GA Residential Appraiser http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1201 Susan Lynn, CRA, GA Residential Appraiser Thu, 05 Jun 2008 04:27:29 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1201 I think Mike has touched on several very powerful points with regard to a relationship between an agent and an appraiser. I hold an active REALTORS License, but am an appraiser by trade. I became a REALTOR to better help me understand an agent's responsibility and therby helping me in my appraising. Here in the Atlanta, GA area, agents just do not want to or care to take the time to get to know the appraiser. I have actually been 'fussed' at for not having the lock box key on me, thereby requiring the agent meet me at a property. My experience with agents is that they don't have the time, nor want to take the time to speak with or meet with an appraiser. But many will tell you that an appraiser has 'killed' their deal. I think the bridge between appraisers and REALTORS should be a strong one on which to be used to promote business. But so often just find that it's a bridge that no one wants to cross. I, myself, have never felt pressured to use 'comps' that may be provided by the REALTOR. Although, I have at times, had to justify why their 'comps' weren't considered in my final report. So many times, communication between the two groups of people would benefit both sides. If only it could happen. I appreciate Mike's candid comments. Well said. Susan Lynn ProApp, LLC susanlynn@proappllc.com I think Mike has touched on several very powerful points with regard to a relationship between an agent and an appraiser. I hold an active REALTORS License, but am an appraiser by trade. I became a REALTOR to better help me understand an agent’s responsibility and therby helping me in my appraising.
Here in the Atlanta, GA area, agents just do not want to or care to take the time to get to know the appraiser. I have actually been ‘fussed’ at for not having the lock box key on me, thereby requiring the agent meet me at a property. My experience with agents is that they don’t have the time, nor want to take the time to speak with or meet with an appraiser. But many will tell you that an appraiser has ‘killed’ their deal.
I think the bridge between appraisers and REALTORS should be a strong one on which to be used to promote business. But so often just find that it’s a bridge that no one wants to cross.
I, myself, have never felt pressured to use ‘comps’ that may be provided by the REALTOR. Although, I have at times, had to justify why their ‘comps’ weren’t considered in my final report.
So many times, communication between the two groups of people would benefit both sides. If only it could happen.
I appreciate Mike’s candid comments. Well said.
Susan Lynn
ProApp, LLC
susanlynn@proappllc.com

]]> By: Note to Listing Agents: How To Win Friends and Influence Appraisers « The Uncommon Agent http://www.realestateradiousa.com/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/comment-page-1/#comment-1186 Note to Listing Agents: How To Win Friends and Influence Appraisers « The Uncommon Agent Wed, 04 Jun 2008 00:54:21 +0000 http://www.realestateradiousa.com/blog/2008/06/02/to-listing-agents-how-to-win-friends-and-influence-appraisers/#comment-1186 [...] Estate Radio USA were kind enough to include this on their national (ie: more readers than me) blog here. [...] [...] Estate Radio USA were kind enough to include this on their national (ie: more readers than me) blog here. [...]

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