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#286984 - 04/20/09 02:54 PM Re: You'll Love This One [Re: D33]
CandyMan Offline
Major Contributor

Registered: 07/12/08
Posts: 2479
Loc: California
Originally Posted By: D33
I had an assignment to where they wanted a value to come in at the contract $ that was way way too low. The Realtor that had it listed had under contract. She reduced it just over $200k & got a contract pretty quickly. I told them there is no way I can bring the value in so low using legit comps. They were demanding of it & then the manager came on line screaming that if I wouldn't bring in the value at WHAT THEY NEEDED I would not get paid & they will find someone else that will do it. I said I am sure you will find some poor soul that will lie on a BPO just to get it inm but I just wont do that. Well, after that I wasn't getting any orders from them. I called a few weeks later asking if they were slow or if anything is wrong w/my acct just to see what they had to say & there were notes in that I couldn't find comps on an order. It was a bit unprofessional if you ask me and this was a manager! Wonder why values are dropping the way they are?


I'll give you a hint on this one.......Play stupid......ask them if they could email their requirements to you.
....you'd be surprised how stupid they can be on the other end.......if you get the email with the same facts, bingo....paper trail......collect enough of these puppies and then send to your congressman.....could prove to be interesting........
_________________________
PONDERISM:

"Life isn't about waiting for the storm to pass........It's learning how to dance in the rain".

Top
#287015 - 04/20/09 06:19 PM Re: You'll Love This One [Re: D33]
Austin360 Offline
Member

Registered: 05/31/05
Posts: 220
Loc: Austin, TX
Originally Posted By: D33
I had an assignment to where they wanted a value to come in at the contract $ that was way way too low. The Realtor that had it listed had under contract. She reduced it just over $200k & got a contract pretty quickly. I told them there is no way I can bring the value in so low using legit comps. They were demanding of it & then the manager came on line screaming that if I wouldn't bring in the value at WHAT THEY NEEDED I would not get paid & they will find someone else that will do it. I said I am sure you will find some poor soul that will lie on a BPO just to get it inm but I just wont do that.


Wish you had this conversation on tape! Wonder what it would take to get a class action suit against some of these companies?

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#287016 - 04/20/09 06:20 PM Re: You'll Love This One [Re: CandyMan]
Austin360 Offline
Member

Registered: 05/31/05
Posts: 220
Loc: Austin, TX
Originally Posted By: CandyMan
Originally Posted By: D33
I had an assignment to where they wanted a value to come in at the contract $ that was way way too low. The Realtor that had it listed had under contract. She reduced it just over $200k & got a contract pretty quickly. I told them there is no way I can bring the value in so low using legit comps. They were demanding of it & then the manager came on line screaming that if I wouldn't bring in the value at WHAT THEY NEEDED I would not get paid & they will find someone else that will do it. I said I am sure you will find some poor soul that will lie on a BPO just to get it inm but I just wont do that. Well, after that I wasn't getting any orders from them. I called a few weeks later asking if they were slow or if anything is wrong w/my acct just to see what they had to say & there were notes in that I couldn't find comps on an order. It was a bit unprofessional if you ask me and this was a manager! Wonder why values are dropping the way they are?


I'll give you a hint on this one.......Play stupid......ask them if they could email their requirements to you.
....you'd be surprised how stupid they can be on the other end.......if you get the email with the same facts, bingo....paper trail......collect enough of these puppies and then send to your congressman.....could prove to be interesting........


I like your idea even better. Wouldn't it be fun to help clean up some of this mess?

Top
#287018 - 04/20/09 06:39 PM Re: You'll Love This One [Re: Austin360]
CandyMan Offline
Major Contributor

Registered: 07/12/08
Posts: 2479
Loc: California
Austin

I rarely will move off my comps......if I get a threat of "no more work", I set the stage for the paper trail......one way or another, I'll have my day........

Better yet, let me catch them changing my order on their own...I keep copies of all work and BPO's...kind of like how we handle listing and purchase contracts....lots of extra work.....just cya.
_________________________
PONDERISM:

"Life isn't about waiting for the storm to pass........It's learning how to dance in the rain".

Top
#287031 - 04/20/09 08:10 PM Re: You'll Love This One [Re: barb43]
status Offline
Member

Registered: 09/04/07
Posts: 61
Loc: Central FL
I generally tell them...

"I cannot comment or substantiate the work of others. This BPO is based on the most similar and proximate comparables found on MLS today."

They always accept that.

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#288844 - 05/02/09 02:07 PM Re: You'll Love This One [Re: PA Roadkill]
dial1010 Offline
Member

Registered: 01/19/09
Posts: 370
Loc: CA
I wanted to send the response in Hindi, Bengali, Punjabi and English

Are you serious? smile

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#288845 - 05/02/09 02:32 PM Re: You'll Love This One [Re: dial1010]
A-Neto Offline
Member

Registered: 09/13/07
Posts: 220
Loc: NJ
Last week I had similar issues with EML. The QC person called me to justify how did I stated that subject is an two units when previuos BPOs show a SFH. Long story short, I always attached copy of Tax records to the order and now more than ever, after the last Mindbrix updates all forms ask for source of info. Here on NJ with 8 MLS and where on three of then you can list the same property some agents are saving few bucks by non be a member of the major North Jersey MLS and just making poor reports. The bad thing about all this is that since the order did pass QC at the first time I loss my Bonus.
_________________________
NABPOP & CDPE Certified.
RE/MAX Broker/salesperson

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#288994 - 05/03/09 10:17 PM Re: You'll Love This One [Re: A-Neto]
Greg Masson Offline
Member

Registered: 08/27/08
Posts: 110
Loc: Oregon
I did a BPO for IM in early March, got paid for it late April, then 2 days later got an addendum that the original appraisal didn't match mine for the interior info. This home was purchased late 2006 for $1M. My original BPO came in at $665K. I knew we hadn't had that great of depreciation, but wrote it off to the lack of high end sales.

When I did the BPO it showed 6 beds 4.1 baths and 4953 SF on 2 levels in the MLS when it was sold. The tax records showed same SF but 4/3.1. Our tax records are notoriously inaccurate, so figured the listing agent counted properly. I originally used the MLS data, so changed to the tax data and resubmitted it.

The next day I got the same QC addendum. I called and asked and they said it still didn't match the original appraisal. They sent me the first page of the appraisal.

The appraiser used over 6200 SF on the appraisal. After reporting this they called back to be sure I sent in both the tax and MLS records. It appears someone fudged the appraisal to make the deal work. I don't want to be in his shoes!

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