Profile picture for user8966215

Can a listing agent give "comps" to the appraiser?

I am under contract on a short sale...yes a short (take forever) sale.  Has been a hassle from beginning, selling agent is a challenge in her own.  Anyway has been doing questionable things all along, pressuring which I am not fond of.  Now has went to the appraisal of which I was told she could not and has given them comps and also had the seller fix things so the appraiser would not see them.  What can I do about this?  is there a place to report her??  Any input would be appreciated!
  • November 01 2012 - Orlando
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (8)

A listing agent can provide local area comps to the appraiser.  Here in Rhode Island, we may be small but every neighborhood and town varies greatly in price.  So a local agent may want to provide comps is the appraiser is coming in from out of town and doesn't understand that being a 1/4 mile west of street A may greatly influence price.  Where other parts of the country you need to be miles away to see prices vary.  

Short Sales can be VERY frustrating, so I understand your frustration in working with the seller's agent, but the agent is doing everything in his power to ensure that you close on the home, at a great price, that is accepted by the bank.  When it comes to a short sale; everyone is on the same team and working towards a closing!

Best of luck in your transaction and I hope you get to join the ranks of an American Home Owner!
  • November 27 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Please read all the responses and go with the answer most mentioned.

1.  Yes, the listing agent can give comps to the appraiser...it is neither illegal or unethical.  The problem comes in ONLY if the appraiser relys on the agents comps and does not use theitr own data and opinion. No one can force an appraiser to do anything...

Sometimes the agent has knowledge of a closed sale that has not yet been recorded which the appraiser may not be aware of, so a good appraiser (or someone doing a BPO) will typically at least look at the agents comps.

2.  There is NOTHING WRONG with the seller doing repairs...bless the seller for wanting to. 

Eve in Orlando

  • November 27 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for user8966215
Coleen, Your response did shed light thank you very much!
  • November 01 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I can really appreciate your frustration.  I do the Broker Price Opinions for the banks (snapshot appraisals)  Over 5,000 within the past 4 years.  In the beginning the Listing Agents often brought comps with them.  NOW, if a Listing Agent does that, I have to report that UNDUE influence was forced on my price opinion.  A short sale should not have ANY repairs, the appraisal as well as the sale has to be as is.  In the current environment, it is unethical for the Appraiser to accept the comps, and as well the Listing Agent should be advised that this is not acceptable influence.  (not illegal)
  • November 01 2012
  • 3Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I always ask and I always have them with me just in case
Keep comparable sales to 90 days
  • November 01 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The appraiser has his own set of criteria from the banks. The realtor can give him comps but he probably won't use them. The realtor does usually gives comps to the bank along with the purchase contract. The bank will use both to arrive at a reasonable price. I'm sure your realtor is doing all she can to make the sale go through. Good luck on it. 

  • November 01 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for user8966215

Well it does sound that way however there is some issues with the house that the seller has now covered therefore in my opinion it may be a false appraisal as they would not have seen the rot that was there, and not sure what damage he has created for me to fix on my $.  Just feel like she is sugar coating the property as it needs much love.  And of course i want the best deal possible!! It is wrong for me to ask what comps she gave the appraiser?

  • November 01 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Outer Banks N C
Sounds like she is working for you, and you want to stop her? Are you wanting the sale to fall through? Anyone can go to an appraisal, the appraiser will just ignore you and do his thing without you, so we normally don't bother to go when they go there to do the appraisal. Handing them comps to look at is fine, the appraiser might actually like that help. You don't sound like you know she is trying to make your offer work out.
  • November 01 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.