Thank you People. Now I don't feel so all alone anymore !

Okay.

For the clients I've worked for the break down goes like this:

Type (SFD, Mobile, Condo)
Proximity
GLA
Unit
Lot size
Age
style

As far as # of units, It's kind of a toss up. The reason being that if you have a 3 unit in the same area as a 2 unit, the rental amounts are going to be more comparable than if you chose a 2 unit in a different area which could have a higher or lower rental rate.

I.e. I have a 3 unit 2400 sq ft with 10/6/3 and it rents for 500 a unit. My best comp is a 2 unit 2400 sq ft with 10/6/2 which rents for 750.00 a unit.

Even though my comp is only 2 units, those two units get a higher rental rate due to the 3 bedrooms which will make up for the difference.

Now if I extended my proximity I might find another 3 unit with 2400 sq ft however they could want 950.00 for each of those units due to a better area, and since the income potential runs the cost of multi's, those units would probably be worth more than my subject.

So thats from a clients point of view. Don't know if it will help but I try.

J~

Looks like I no longer need to make a decision on how much repairs will increase the value

"Please review the difference between your As-Is and Repaired Values. Currently you estimate $4,500 in total repair costs. The difference between your As-Is and Repaired Values should be at least equal to, but not exceed 2X the amount of the total estimate".

More work
Median Site Size:
Median GLA:
Median Year Built:
This is in addition to the usual sold and list MLS stats that they want.

"Client has provided a lot size of 2.4 acres for the property, please use comps with a similar lot size".

Hmmmh, the problem is just that the client is wrong about the lot size. The property is in a deed restricted, masterplanned community. The lot size according to tax records is 10,385 = 0.24 acres and I have seen the lot. I can tell the difference between a 2.4 acre lot and 1/4 acre.


One would think that's an easy fix, just send in the tax records but, no, not so fast ........ If the client says it's 2.4 acres I guess it overwrites the tax records. Grrrh!!!

"Please provide comps that have sq footage equal to or greater then the subject."

Oh - gosh why didn't I think of that??? Maybe because there have only been 4 sales in that area in the last 6 months?? Its a war zone with almost every single house being boarded or torched? Seriously - the subject is only worth 7k-8k - sorry that you wrote a loan 3 years ago for 50K - but I can not in any way give you comps that support that price.

I wrote comments - much more politically correct then the ones above in the general comments section, in every comp comment section and in the final comments section. Six phone calls later - yes six, I finally just sent them an e-mail to read the comments. All QC went away. It is exactly like talking to my teenager - say it six times - turn off all electrical devices in the room and make eye contact. Geez.

I had a Help Help Help today saying urban had to be within 1/2 mile. I thought I checked the wrong box on the form, but I had marked it rural and all the comps were rural.

Maybe I should have written the comments in Farsi

I thought after all these years I had seen every stupid QC ever. Got a new one today. "Please comment on the condition of the roof". QC sent back my BPO for this. Ummm, roof looks good to me. One story house, roof is clearly visible in photo. Last I heard of it. ??

To all QC people on this forum:

I think that all the Brokers/Agents and QC people qualifications should be reevaluated, especially now that both us the vendors and the mills have seen a big difference in quality of work. Us as vendors from some QC people ... and QC people from some Vendors.

I think that is good to say that a good BPO Vendor whould have under his belt at least 100 REO listings of his own sold in the past 2-3 years, and at least 30-40 bpos done monthly for either CC, EML, etc. And a request for proof of those records would be great !! Maybe this way we can eliminate the ones that have no knowledge about a distressed market (someone said that short sales are considered as REOs ... and one would go to the extent of considering a short sale like an REO ... but never when the short sale is in a superior condition and has upgrades throughout and they want to sell it for the same price as an REO that has missing appliances, needs drywall and flooring repairs, has an overgrown yard and delapidated siding, etc.) ... And maybe some proof of how many REO bpos, distressed valuation BPOs, or Fair Market BPOs have been done constantly by that individual for the past 12-24 months. I think that this would eliminate a lot of the newbies who are just trying to break into the business by giving lower than average quality of work.

And for the QC people which have just been hired and are on their first 500-1000 bpos, I say it would be good for them to take the same classes, bpo certifications and REO certifications that we are req1uired to take. And must have a Real Estate Sales or Broker's license, or even an Appraiser's license. A license that was used before and they can show proof of their real estate experience ... I don't need a WalMart door greeter QCing my work. No matter how many classes or cerifications they have if they don't hold a real estate license !! And they have never delt with real estate before on a daily basis ...

Just my opinion as a Real Estate Professional !!

Dear Vendor, corrections are needed before your report can be submitted to our client


It’s Would not Whould

It’s Dilapidated not Delapidated

It’s Certifications not Cerifications

It’s Dealt not Delt

QCing is not a word

Also you should avoid starting a sentence with the word “and”


Please Note: Failure to have corrections submitted within 2hrs will result in a negative impact on your service score





Glad to help .. no need to thank me

Yeah ... Thanks for the spell check !! I'm happy that the QC people can do at least that !!

Especially when the screen is refreshing and you lost part of your words if not the whole sentence ... and when you go to save you realize that you were allowed only 450 characters and you wrote more than 1000

BoneFish: are you a QC person ? And did you look for my little lousy spelling mistakes because you had nothing better to comment regarding my post ? Just being curious ...

Failed Qc for Is the subject on the water? answer No

My clown side tends to come forward with "only when it rains".....