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What were they thinking?!!!

By
Commercial Real Estate Agent with Keller Williams Market Pro Realty

Ever get an appraisal or BPO result and ask yourself "What were they thinking?" Well it has happened to me, and my clients, one too many times. It never ceases to amaze and frustrate me at the same time. Why when you have a clients home under a sale contract it comes in way below par, and vice versa when doing a short sale? Never seems to fail. As accurate and objective as I try to be when doing my own valuations, someone else, who lives on another planet, comes and makes you look like an idiot.

To make matters worse, when you call them on it, they both give you the same story. "I just report what I see" Okay, well so did I. I guess it all depends what window you are looking through. The appraisal business is supposed to be an objective business, but it seems like we are still the subjects of the entity ordering it.

Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

I have that feeling all the time. Decisions or determinations made by others sometimes simply leave you shaking your head.

Oct 21, 2010 03:16 PM
Lori Bowers
La Quinta, CA
The Lori Bowers Group

Call them ahead an dmeet them with the comps. If that does not work, call the bank. If you are known as an expert, they will listen.

Oct 21, 2010 03:44 PM
John Pusa
Glendale, CA

Tim - In some cases, I have seen apprasials and BPOs don't match the market value. Thanks for the blog.

Oct 21, 2010 05:02 PM