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If You Were A Jeweler, Could You Appraise a Diamond Via a Virtual Tour?

By
Industry Observer with RETIRED / State License is Inactive Inactive License Oregon

If You Were A Jeweler, Could You Appraise a Diamond Via a Virtual Tour?

This post is inspired by a recent feature about doing "virtual" broker opens.  My comment is that there is no way anyone can accurately render a a professional opinion on a property they have not toured, physically. 

With close to 15 years in real estate, I have toured thousand, upon thousands, upon thousands of property . . . "virtually"

My first "look" at properties is via photos, virtual tours, Google maps.  I read write-ups on the listing sheets to get more familiar. But this never has (at least for me) taken the place of the physical tour.

From experience I know that the only way one can accurately assess, rate, rank, opine about condition, proffer a price, evaluate, appraise, assay, check out, determine, estimate a fair market value, reckon, size up, survey, value, valuate and/or otherwise form a professional opinion as to all things "feed back" about the property is to . . . PHYSICALLY TOUR IT!  

If you want to "help out" the listing agent with your professional opinion, it's not about thinking outside the box . . . it's about getting off the chair. 

If someone wants to promote the listing, and do an email blast, fine.  But to try to obtain professional opinion on a property from real estate agents concerning price, condition, etc. who have never set foot in the place . . . hmmmmmmm . . . what's the point exactly?!?  Because I certainly must be missing something.  

I have a diamond ring.  It's a little over a carat.  It's pretty.  It looks good in photos.  

I want to appraise it for insurance purposes.

Do you think I would have ANY professional diamond appraiser give me their professional opinion on current market value from a photo or vitual tour?

Can they see the inclusions?  The clarity?  The facets? The purity?  The cut?  The color?

Heck, they can't even tell if it's a Cubic Zirconium from the photos, now can they?!?

A professional diamond appraiser would have to see the diamond in order to render a professional opinion.  They would need to physically examine it with their loupe.  

I would never give my professional opinion based on photos, a virtual tour, a 3-D Hologram, Smell-o-rama . . .

For me,  I would feel that I am doing a disservice to clients, customers, other agents if I really believed that NOT seeing / touring / examining a property physically could render a valid opinion.

 

Posted by

 

 

Carla Muss-Jacobs has RETIRED effective May 1, 2018

Representing Buyers in the Portland Metro Real Estate Market | Clackamas Multnomah and Washington Counties | Since 1999

Carla Muss-Jacobs, REALTOR®, ABR, CEBA, ePro
Principal Broker/Owner ~~ INACTIVE

Carla Muss-Jacobs' retirement became effective May 1, 2018

Direct: 503-810-7192 

 

All Rights Reserved © 

Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Carla, I missed the featured post you referenced. I will go back and read it. But, I don't need to read it to comment here. There is no way on God's green earth I would ever render my professional opinion on a property I have not been in, walked through and yes, smelled first. I would also like to see all reports, inspections and disclosures before rendering an opinion. Sadly, far to many agents list homes with nothing available, not even a preliminary title report. I hope the Feature police are at their desks today! 

Aug 18, 2013 05:29 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

One more thing ... if they want a value why not just put it on Zillow!!!!  ahhahahahahahahhhahahahahahahahah 

Aug 18, 2013 05:30 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Carla, I've read the post.  Seriously?  What the heck. I'm shocked at how many comments suggest that it is a great idea.  It's not going to get the home sold ... it's a terrible idea. You are not missing anything. I'm on the same page as you. Great minds think alike. 

Aug 18, 2013 05:37 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Kathleen -- Thank you for your comments.  Yes, Zillow would do a fine job at "vaulation."  How can real estate agents do a virtual opinion, or feed-back?  You bring up a good point, we complain on the one hand about Zestimates yet on the other hand . . . oh never mind.  Yes, all the things that you review as the one step further . . . reports, disclosures, and history of the place. 

Aug 18, 2013 06:30 AM
Jeanne Dufort
Coldwell Banker Lake Country - Madison, GA
Madison and Lake Oconee GA

Carla - I'm with you. Context is everything in my market, and its hard to convey that in a virtual tour, no matter how great.

Aug 18, 2013 08:11 AM
Jennifer Prestwich
Henderson, Thornton, Broomfield and Westminster - Henderson, CO
Madison & Co Properties

I LOVE the analogy, Carla.  I agree with you- it is exactly like trying to appraise a diamond through a photo.  Bravo, and Suggest!

Aug 18, 2013 08:18 AM
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Carla,

I saw that post and couldn't understand the piling on with of good idea comments. I chose to ignore it because I couldn't really see the value.

Rich

Aug 18, 2013 10:15 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living
Carla, great question that puts things in perspective. I sometimes have buyers who buy sight unseen. I make sure I tour the property thoroughly and and them many more photos as well as video and still, I feel relieved when they see it for the first time and like what they see.
Aug 18, 2013 10:32 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

The BEST virtual tour and/or photos are generally meant to get you in the door to actually see the property.  But offering an opinion from a virtual tour only... bahahahaha 

Aug 18, 2013 02:38 PM
Lana Robbins Realtor ® Licensed Real Estate Broker
Aloha Kai Real Estate - Clearwater, FL
Licensed in Florida, Washington, and Hawai'i

Hi Carla. I read that post but did not leave a comment. I would not leave feedback if I did not view the property in person. Simple... really.

Aug 18, 2013 04:39 PM
Andi Grant
310-508-4354 | FirstTimeHomeBuyerRealEstate.com - Los Angeles, CA
Helping 1st time buyers and home sellers in LA!

Smell-O-rama Carla? Hilarious!

Aug 18, 2013 06:05 PM
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Excellent analogy...I did not get the "marketing by virtual tour", as pictures are deceiving.  I also think that AR members just try to be supportive so they give a positive comment without really reading or thinking.

Eve

Aug 18, 2013 09:14 PM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

It is kind of like buying Vegitables on line.  I want to look at them before I pay good money for them.

Aug 19, 2013 05:01 AM
Patricia Beck
RE/MAX Properties, Inc., ABR, GRI, SRES - Colorado Springs, CO
Colorado Springs Realty

Hi Carla, I don't think holding a virtual broker open should be the only way a property is marketed but it does get the property info in front of agents who would otherwise not see it.  Aside from valuation, agents can give feedback on other aspects including the MLS listing information, photos, etc...  Everything is marketed online now and that is how the majority of buyers eliminate and find homes they want to see.  Some buyers even purchase site unseen.  Agents should get out of their chairs to go see a property in person, I agree

Aug 20, 2013 12:42 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Patricia . . . why wouldn't agents see the listing?   If they had a client for the property it could be pulled up on their MLS.  The only thing a virtual broker open does is give you feed-back on how well the property photographs.  Other than that, I don't see the point really.  I am a stanch advocate of having the property toured physically.  I've see way too many photos online and in touring the home, it did not live up to the expectations.

Aug 20, 2013 02:10 AM
Lisa Friedman
Great American Dream Realty - Essex, VT
35 Years of Real Estate Experience!

Carla, agree with you 100%. I really like to preview listings prior to showing based on the fact that you cannot tell the quality of items from photos. A photo will not tell you that the new carpeting is the lowest grade with the worst padding put over the squeaky floor with the big bow in it and that it still doesn't cover the wretched odor of the cat pee soaked plywood. A photo won't tell you that the new cabinets were close out specials and that they feel like they will fall apart the second you open one. Oh, the new paint job?  They painted over multi-inch areas of spackle that were not sanded and now you have a lumpy wall with different tones to it.  Of course, the agent did not take a photo of the moldy wall and puddles in the basement.

Especialy if I have buyers coming from out of state that are looking at multiple properties, I try to go out and preview every one so we can cut out the time wasters.

Of course, you can't provide an opinion of value without knowing that the well and septic are good, that there isn't an in-ground oil tank with issues, the neighbors aren't Hell's Angels, etc.

Aug 24, 2013 07:15 AM