56,684
I almost always help them out. They will remember that you were the one to go above and beyond with no strings attached. I have received more business for the being the one that stood out and remembered.
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Ryan Huggins - Thousan...
Thousand Oaks, CA
1,844,301
I tell them that a CMA is 'for the moment'. In other words, you don't need that in writing for insurance purposes or a trust. Unless the person has passed & you're doing it for probate purposes - then it's paper.
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Nina Hollander, Broker
Charlotte, NC
3,988,007
I will give them one for that purpose but want the truth upfront.
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Nina Hollander, Broker
Charlotte, NC
3,164,294
4,936,716
Still do it, down the road it will pay off.
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Brenda Mayette
Glenville, NY
382,160
It depends on my relationship with that person, but usually, I will do it. Building relationships is essential. They will remember you did it and maybe refer you to someone at a later date. You have to give to get!
69,794
I usualy ask more indepth questions before hand. Like why they need a valuation and whether they are looking to list and when. If not to list, I suggest to them to contact an appraiser. I had a local landlord keep asking me for CMA's on his properties and then he would FSBO them. After the second one, I quit giving my advice for free to him. Leasons learned.
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Shawn and Angela Miller
Lincoln, NE
4,883,260
I would consider that as a BPO and charge them accordingly.
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Lyn Sims
Schaumburg, IL
5,217,243
If they are honest about the use, I would do it as a service. It could lead to potential business. I would make it clear a "CMA" is not an appraisal.
5,104,931
If someone asks for a cma, I always ask what the purpose is. I always remind them that an agent's cma mostly likely only deals with the market value of a home to be sold in the very near future. And if they need a true valuation for estate purposes, they need to contact a licensed appraiser. But so long as they feel a cma is fine and they understand its limitations up-front, I have no problem being helpful... you never know when that turns into a referral or future business.
989,652
7,836,431
1,265
I don't Know what is the correct answer but according to me you have consider the market and do something new
519,324
Sean,
If the person is a stranger, I try to understand and assist them in a way and at a time that is reasonable for me. If they are a friend or past client, I do what I can as quickly as I can.
Providing services that do not necessarily immediately result in payment doesn't make it a poor choice. Other needs, referrals and just general appreciation can be reason enough.
1,502,998
What's the question? I don't see an actual question here. I'm assuming you meant to add "What would you do/charge?"
My answer:
I would do it if it was informal and based upon comps, etc. If it needed to be done more formally (like an actual appraisal with room measurments, etc.) then I have a list of appraisers that I'd recommend. Now if I'd charge for an informal one, it depends on who asked and the circumstances.
3,986,258
I am not sure I underestand your question...Am I ok doing so? If that is the question then I would do it at a time I am not real busy
1,390,113
We've done it - many times - but with the caveat that we are not appraisers.
They often turn into clients.
6,393,609
7,751
My guess is with trust/attorneys involved they are likely going to want an appraisal by a licensed appraiser, which they will have to pay money for. Seems like a waste of time for the real estate broker unless you just want to get your foot in the door and maybe list the house when they are ready to put it on the market.
4,800,082
If it's someone I have a relationship with, sure, no problem. Others would be on a case by case basis.
2,684,109
2,781,273
This is your chance to take one of your feet and stick it in the doorway. Let them sample you. The report is of a secondary value. Sell the self
5,583,278
I go and give them a CMA..... I'd rather know up front what the honest reason is for calling....I never do an over the phone....I meet and see the home and handle it as if they were going to make a decision to list.... and often, I did receive business from those folks....
1,726,096
At least they were upfront with their purpose. I would give them a CMA and advise them that it is only an estimate of value and the market determines the price when a home received an accepted purchase offer and closes.
921,504
Sean,
I think your question has been truncated and the real intent not clear.
From what I understand, the request is for a market value of the home but they reveal it is 'estate' related.
Further questions will reveal who will be using the data and THAT will determine the valuation instrument to be used. You indicated the purpose is simply a line item in a trust, NOT the liquidation of an estate.
Give them what they want.
1,026,993
Not sure I understand. Unless one party is intending to do away with the other party in the near future, whatever you do is not valid six months from now.
1,617,916
5,049,477
I normally ask a few questions about their plans . Also remind them this is an estimate of value at this point in time