Time and Time again, I have proven that there is no such thing as no comps.
Have you ever worry about your listing not getting appraised? Just last month, my listing went under contract. It is a home which is tastefully remodeled by my seller. However, the buyer for this specific home is not too many because of its size. Right from the start, I advised the seller that it may take a while to find the right buyer for his home but I am sure that there will be someone. There will be a right buyer at the right time.
Prior to the agreement, I received an offer which is 15 thousand less than what my seller was asking. The seller countered and as soon as the buyer’s agent got the counter, she emailed me asking if I do really want to present the counter offer to her buyer.
I sent a reply, “Yes. That is the seller’s counter offer.Please present to your buyer.” Only a few minutes lapsed when my phone rang. It was the buyer’s agent. She said there are no comps.
There are no comps. Then how did they come up with the amount the buyer offered? But that was not the problem at that point. I told her. “PLEASE” present the counter offer to your buyer.”
The next day, I got a counter offer from the buyer’s agent with which is too close to my seller’s counter offer. Hence, the buyer and the seller reached a mutual agreement.
The agent’s dreaded day came. The appraisal date. For me, appraisal date is never a dreadful date. This is the date that I can prove once more that the appraiser and the listing agent should not collide.
Contrary to other’s conception, appraisers are not the foes. They are professionals who are willing to embrace the information the listing agent has in her possession. They don’t get intimidated by the agents.
It is in the manner of how we approach them to offer our additional information. It is in the conversation with them that they can assimilate and accumulate valuable data they thought they already have.
As a listing agent, I never had a problem getting my listing appraised. Remember, there is no such thing as no comps. If you need to widen or broaden your parameters to get the comps, then do it. Just be aware of the limit on the total and net adjustments.
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