Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips


Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Page 1 of 2 1 2 >
Topic Options
#208432 - 03/03/08 03:54 PM BPOs Just Got Easier
Rat_Bastard Offline
Member

Registered: 04/04/06
Posts: 390
Loc: Central NC
QC Comments:

"Please remove the comments regarding adjustments as adjustments are not permitted on a BPO."

I made a comment about adjusting for square feet. I guess I don't have to do it anymore!

Gotta love it...

Top
#208433 - 03/03/08 04:01 PM Re: BPOs Just Got Easier [Re: Rat_Bastard]
Artiste Offline
Veteran Member

Registered: 06/12/06
Posts: 896
Loc: Sacramento, CA
I'd be bummed if that is the way it's going to be all the time - adjustments helps to support opinions, especially when there are few comparable solds and we have to do the apples-to-oranges thing.

Top
#208521 - 03/03/08 08:59 PM Re: BPOs Just Got Easier [Re: Artiste]
Rat_Bastard Offline
Member

Registered: 04/04/06
Posts: 390
Loc: Central NC
Apparently, with these guys, I will now have to only use comps that are EXACTLY like the subject. That might be a tall order.

Top
#208522 - 03/03/08 09:01 PM Re: BPOs Just Got Easier [Re: Rat_Bastard]
MikeD-FL Offline
Member

Registered: 11/23/07
Posts: 82
Loc: FL, US
I never put an "adjustment" in writing...

Top
#208528 - 03/03/08 09:18 PM Re: BPOs Just Got Easier [Re: MikeD-FL]
STEW Offline
Member

Registered: 08/27/07
Posts: 102
Loc: FLORIDA
I don't understand the issue..when you do a comparative market analysis for a potential listing, don't your adjust for example if there is an inground pool or other amentities affecting value..why is this suddenly wrong in a BPO?
How else to you come to a determination of value? This is a day function of being a realtor..

Top
#208536 - 03/03/08 09:41 PM Re: BPOs Just Got Easier [Re: MikeD-FL]
Char K Offline
Member

Registered: 02/25/08
Posts: 380
Loc: Ohio
And the reason for that would be..........

Top
#208555 - 03/03/08 10:51 PM Re: BPOs Just Got Easier [Re: Char K]
LeanneC Offline
Member

Registered: 02/01/06
Posts: 344
Loc: Georgia
I'm working on one now I can't get through QC. The crazy thing is I did the exact same house for the same company last week. Only this time is on a different form and from a client who does not allow adjustments. My values are not bracketted. It's driving me crazy.....I thought it would be a slam dunk....what was I thinking.

Top
#208564 - 03/03/08 11:31 PM Re: BPOs Just Got Easier [Re: LeanneC]
DueDiligence Offline
Member

Registered: 12/05/06
Posts: 445
Loc: Wild Wild West
I was told that we never should do adjustments because we're not appraisers. I agree with that. EXCEPT many forms that I get ask for adjustments. Am I supposed to ignore the little boxes for adjustments and the "calculate adjustments" selection?

In my area it is tough, if not impossible to find 4-square comps, so adjustments are most usually needed. I used to just comment on adjustments that I would make if I could make them, which I can't make because I'm not an appraiser.

What to do?

Top
#208566 - 03/03/08 11:36 PM Re: BPOs Just Got Easier [Re: DueDiligence]
Cool guy Offline
Veteran Member

Registered: 06/30/04
Posts: 1257
Loc: California
I prefer adjustments. For example, IAS. With the adjustment, QC will STFU about how I come to a price.

Top
#208567 - 03/03/08 11:41 PM Re: BPOs Just Got Easier [Re: Cool guy]
shana Offline
Member

Registered: 11/06/07
Posts: 298
Loc: Nevada
you don't need to discuss or even mention the numeric adjustments you make (unless the form explicitly calls for it). you simply list the property characteristics. give the cretins what they want, and do the adjustments surreptitiously.

Top
#208574 - 03/04/08 12:15 AM Re: BPOs Just Got Easier [Re: shana]
SLO Broker Offline
BANNED
Veteran Member

Registered: 10/16/07
Posts: 662
Loc: California
Yes Shana you are correct .........


Edited by SLO Broker (03/04/08 12:16 AM)

Top
#208611 - 03/04/08 08:15 AM Re: BPOs Just Got Easier [Re: SLO Broker]
ColoBroker Offline
Veteran Member

Registered: 11/03/07
Posts: 970
Loc: Colorado
Give the cretins what they want. Now that's funny to me.

Top
#208645 - 03/04/08 10:19 AM Re: BPOs Just Got Easier [Re: ColoBroker]
shana Offline
Member

Registered: 11/06/07
Posts: 298
Loc: Nevada
and I spelt "surreptitiously" correctly WITHOUT using the spell checker!

Top
#208658 - 03/04/08 11:05 AM Re: BPOs Just Got Easier [Re: shana]
MikeD-FL Offline
Member

Registered: 11/23/07
Posts: 82
Loc: FL, US
Shana and SLO are right on the money..
I do "adjust"... I just don't "adjust" in writing.

I like to see mahagony as much as the next guy, I'd just prefer to see it at the local bar, versus the judges desk.

Top
#208668 - 03/04/08 11:39 AM Re: BPOs Just Got Easier [Re: MikeD-FL]
Rat_Bastard Offline
Member

Registered: 04/04/06
Posts: 390
Loc: Central NC
I had not adjusted in writing either - I just mentioned the phrase "adjust for square footage" to note that this was the only significant difference between the subject and the comps. Maybe it is like "crime," and a word that we cannot use.

I have never wanted to explicitly do my adjustments, like some companies want you to do. And I have done hundreds of BPOs for this outfit, and never got a mention about my comments.

Again, go figure.

Top
Page 1 of 2 1 2 >


Newest Members
Andy, PHIL DECOUD, cantinadriver, Robert Terry, Brad Miller
12461 Registered Users
Who's Online
44 registered (6t8ssgirl, Andrea C, Andy, Austin360, AVM-Val, Brandon48202, 3 invisible), 77 Guests and 6 Spiders online.
Key: Admin, Global Mod, Mod
Search

Shout Box

Good Ideas
Nusetlock.com




Energized Seller




Realtor Websites




Sponsors


Real Estate Careers, Get Certified. Improve your BPO business., How To Advertise Here


This site presented by RNC Internet Services