Thanks, AR, for the Gold Star yesterday on my blog entitled "Should You Price to Ward Off Appraisal Problems?" I didn't intend for the blog to generate a war between agents and appraisers, but sometimes these things take on a life of their own. Okay, well, "war" is a bit strong, but we did have a lively discussion.
So, let's continue it. What the heck.
However, being a Friday at the end of a long week, I'm feeling a little lazy, so I'm going to resurrect a conversation from last July on this very topic. To recap - I did an interview with Real Estate Radio USA where I casually stated my opinion that appraisers should not be in the business of pricing homes for market. I didn't think that was such an inflammatory statement, but... it was. At least to the appraisers of the world. I really wasn't trying to insult anyone; in my opinion, what appraisers do and what we do are two completely different things, at different points in a real estate transaction, for a different audience.
But my good friend Mike Lefebvre (who really IS a good friend; I'm not saying that sarcastically) took offense to my comments and wrote a rather outspoken blog in response. Which sparked a lively debate over at Real Estate Radio USA.
Here's what he wrote:
Jennifer was on yesterday's show to discuss the seemingly age-old question of how listing agents justify their fees. Anyone who listens on a quasi-regular basis knows that Barry and Barry flat out feel that it is nearly impossible for 99% of listing agents to justify their fee for the services they provide. (That's another topic all together and I feel strongly that Jennifer and I are both part of the 1% who can justify their fees as listing agents.) I enjoyed her last interview a lot and looked forward to her take on this one. She speaks with authority, knows her stuff and I was anticipating a spirited debate.
The conversation eventually turned to pricing properties and appraisers and then the fangs came out. To be honest, I wasn't prepared at all for what I was about to hear. It was appraiser hate-speak! I'm sure Jennifer would tell us that "some of her very best friends are appraisers" but I certainly wasn't feeling the love yesterday afternoon. READ THE REST HERE and don't miss the comments - they're fantastic!
No, really, go read it. It's great stuff. We'll be here when you return.
So, what do you think? Who is the more appropriate party to price a home for market? A professional, experienced, competent real estate agent? Or a professional, experienced, competent appraiser? (for the purposes of this discussion, let's leave out all the idiots in both professions).
Are you registered for Saturday's Alternative Business Model teleseminar starring Mollie Wasserman, Margaret Rome, Nishika Jones and moi?