World class appraiser blogger Tom Horn wrote a great
article titled, “Things
agents do that appraisers hate.” Tom’s article inspired me to think about the
opposite side of that coin. Whenever I
speak at real estate offices, agents often tell me about off putting things
that some appraisers do when interacting with agents. It is important for both appraisers and real
estate agents to understand the thoughts and frustrations of the others so that
we can conduct our work in a manner that is both efficient and respectful. Here are my top three agent irritators.
complain that appraisers go to vacant lockbox properties without first calling
and asking the agent. This is against
the rules of the Portland area RMLS (Regional
Multiple Listing Service) and to me, it is trespassing. Appraisers do not have the right to use the
RMLS lockbox anytime we want.
complain that appraisers will show up at the property, not talk or ask
questions, and then leave quickly. I understand
that appraisals are business and that time is money. It is difficult to make a living as an
appraiser these days without being quick.
However, the real estate agent and the homeowner hold a wealth of
information. Each should be interviewed
carefully by the appraiser. From
my experience of having several appraisers who work for me, the ones who take
time to chat with homeowners and agents build trust. Their appraisals do not get challenged nearly
as often, even if the appraisal report quality is similar.
complain that appraisers will call them and say, “Can you tell me what the
concessions are on this recent sale?”
Once answered, the appraiser quickly ends the call. As an appraiser, it irritates me that other appraisers
would be short when someone else is helping them, but is also annoying that
many appraisers would only
be interested in concessions. The concessions are important, but there are
many other important things that an appraiser should know about a sale that do
not make it into the RMLS. In addition,
agents are not only sources of information for appraisers, real estate agents are
important sources for continued appraisal work.
A Quality Appraisal, LLC is built on non-lender or private appraisal
work. Real estate agents generate most
of our private estate and divorce appraisal referrals. It is important for appraisers to be
courteous, humble, and grateful on the phone or in emails when requesting
information. Our company has received
many referrals directly resulting from data verification emails and phone
Did I leave anything out or do you want to join in the
conversation? Are you a real estate
agent with appraiser grievances? Let me
know constructively in the comments below.
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